Major indices in US rose on China news - ZENMoney

In US markets, Major indicies rose after local media in China reported that the government was looking to increase investment in railroad projects as part of efforts aimed at ensuring annual economic growth does not sink below 7% and on news of solid earnings from DuPont and Travelers along with a more upbeat profit outlook from United Technologies.

On the European front, the British benchmark indices fell as a measure of US manufacturing unexpectedly slumped along with a fall in Tullow after the company failed to find commercial quantities of crude or gas at two wells in Mozambique & French Guiana and EasyJet sank after HSBC Holdings Plc cut its recommendation on the discount airline to neutral from overweight. The downside in the indicies was capped by gains from RoyalKPNNVto Vivendi SA on plans to sell assets along with comments by China's Premier Li Keqiang that the China will grow by at least 7%.

Nikkei opened on a negative note during the morning session due to a strengthening yen along with profit booking on concerns about an overheating. The indicies was trading catious ahead of a slew of economic reports that include HSBC's key survey of Chinese manufacturing activity for July

Source : Equity Bulls

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