Dow Jones reaches fresh record high

20-04-2007

Dow Jones reaches fresh record high
The Dow Jones index reached a new record closing high on Thursday, boosting investor confidence in the US.

Thursday saw the Dow rise by 4.79, or 0.04 per cent, to 12,808.63. It was the Dow's sixth consecutive gain, breaking records previously set on February 20th.

New York City-based Dow saw the computer hardware firm Intel climb on its record breaking day of trading, up 2.2 per cent on Thursday.

A similar success story happened to pharmaceutical firm Schering-Plough Corporation, listed on the Dow, which reported increases in profits of 55 per cent in the first three months of the year. The announcement boosted shares prices by 8.6 per cent.

However it was not as strong a day for tobacco, food and beverage firm Altria Group. The parent company of Philip Morris International, Altria Group fell by 68 cents (34p) to (£34.68).

However the success of the Dow was in sharp contrast other market indicators fell on Thursday as the Standard and Poor's 500 index fell 1.77 to 1,470.73, while the Nasdaq dropped by 5.15 to 2,505.35.



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