Market Rally Continues Amid Corporate Advertising Recovery
As the stock market continues to show signs of life, shares of top companies are rising with optimism. Pearson, the British publisher, has seen a 1.2% increase in its stock price to $12.15, hailing the expected recovery in corporate advertising. French telecommunications equipment maker Alcatel SA has also seen a boost, with a 2.1% rise to $10.76, thanks to upgrades from Deutsche Bank and ABN Amro. The market is buoyed by the hopes of a recovery in the second half of 2005, driven by persistent restructuring efforts.
Key Takeaways:
- Pearson's stock price rose 1.2% to $12.15, citing the recovery in corporate advertising.
- Alcatel SA's stock price increased 2.1% to $10.76 after Deutsche Bank and ABN Amro upgraded the stock.
- China Unicom Ltd.'s first-quarter net profit fell 26%, but shares gained 2.5% to $8.10 on hopes of restructuring.
- China Mobile Ltd. and China Telecom Corp. saw significant gains, closing at $17.80 and $34.18, respectively.
- India's InfoSys Technologies Ltd. saw a 3% increase in its stock price to $59.20.
- Japan's Nippon Telegraph and Telephone Corp. saw a 12-cent gain to $20.85.
Statistics:
- Pearson's stock price increase: 1.2%
- Alcatel SA's stock price increase: 2.1%
- China Unicom Ltd.'s net profit decline: 26%
- China Mobile Ltd.'s stock price: $17.80
- China Telecom Corp.'s stock price: $34.18
- InfoSys Technologies Ltd.'s stock price increase: 3%
- Nippon Telegraph and Telephone Corp.'s stock price gain: $0.12 (12 cents)
Sources:
- Dow Jones Commodities News Select via Comtex
- Dow Jones Newswires
- COMTEX (http://www.comtexnews.com)
- Pearson press release (exact date not specified)
- Alcatel SA press release (exact date not specified)
- China Unicom Ltd. press release (exact date not specified)
- China Mobile Ltd. press release (exact date not specified)
- InfoSys Technologies Ltd. press release (exact date not specified)
- Nippon Telegraph and Telephone Corp. press release (exact date not specified)