The Dow Jones rocketed on opening today, following news retail sales rose in May for the first time in three months on the back of growing consumer confidence.
The blue chip index was up 63.34 points (0.72%) to 8802.36 as retail sales rose 0.5% as forecast after a 0.2% drop in April, according to the Commerce Department.
Bank of America Corp is the biggest winner so far, jumping 2.5% to $12.28. The bank had its 2009/10 profit estimates raised at Morgan Stanley, which cited higher expected income.
Morgan Stanley estimates Bank of America Corp will earn 52 cents a share in 2009 and $2.64 in 2010.
However, Home Depot has not been buoyed by consumer sales news, shedding 0.86% to $24.18. The only financial in the bottom five, JPMorgan Chase is down 0.26% to $34.75.
The FTSE 100 is up 26.48 points (0.6%) to 4463.23, with Royal Bank of Scotland Group leading the index into the black, gaining 6.07% to 40.2p.
Barclays has added 3.64% to 229p, However, Standard Chartered has tumbled 1.72% to £11.97.
Natural resources companies have lost momentum since the morning, with Vedanta Resources shedding 2.15% to £17.32 and Randgold Resources down 1.8% to £42.78.IFAonline
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According to Cicero report