Montreal, Canada (PressExposure) June 30, 2011 -- Hilbroy Advisory Inc. (DeutcheBörse: 2H0) End of the Day, Market wrap up.
Stocks scored their third straight advance today. The broad market is now up roughly 3% for the week.
An improved tone of trade this week has helped stocks win support in the face of ongoing protests in the streets of Athens, Greece. The social tumult continued today while the country's parliament passed a new austerity plan intended to shore up the Greece's finances. A vote on the implementation of the plan is expected tomorrow. The austerity plan's acceptance by Greece's parliament wasn't a surprise. It was actually followed with a mild sell-the-news type of response before stocks stabilized and began to make an upward push.
Some afternoon selling threatened to slash the stock market's gain, but leadership from the financial sector helped drive a broader rebound. Although the sector had already been outperforming, Visa and MasterCard emerged late in the session to help take financials a leg higher. Their surge came in response to the final rule on the Durbin Amendment, which saw its interchange cap increased by the Fed. Financials ended the day with a 2.2% gain.
Monsanto was also a strong performer this session. The stock's upside earnings surprise and guidance helped drive basic materials stocks to a collective gain of 1.5%.
The latest quarterly report from General Mills was more lackluster. It featured in-line earnings and downside guidance. However, the company increased its quarterly dividend by 9% to $0.305 per share.
Commodities also performed well this session. Buying was bolstered by a weaker dollar, which was hampered amid an improved view of the goings on in Greece. Among precious metals, gold gained 0.7% to close at $1510.60 per ounce. Silver surged 3.5% to settle at $34.80 per ounce. As for oil, it advanced 2% to $94.77 per barrel with help from some bullish inventory data. Oil had been as high as $95.84 per barrel, which marked a 10-session best.
Treasuries were trampled again. Their weakness was mostly owed to favor for the relative risk of equities, but another display of dismal demand at the latest Treasury auction also drove selling. The auction of 7-year Notes drew a bid-to-cover ratio of 2.62, dollar demand of $76.0 billion, and an indirect bidder participation rate of 32.2%. Each statistic was well below the six-auction average.
Data was limited to the latest pending home sales report. Although pending home sales increased by 8.2% in May, rather than decline by 0.6% as had been expected among economists surveyed by Briefing.com, there wasn't much of a response to the report.
About Hilbroy Advisory Inc.
Hilbroy Advisory Inc. is a Canadian based advisory and consultancy services company founded in 2000. Our Company provides publicly traded and private companies, institutions and individuals with a series of advisory services enabling these companies to fully reach their corporate objectives and potential.
Our specialists will customize a service package that includes reviewing, identifying and recommending a series of specific action and tasks that help their clients' management decisions when seeking
Go Public strategy,
Debt and or equity financing
Identify prospective investors
Hire investor relations firm
Cross listing decisions
Planning road-shows and promotional campaigns.
Hilbroy Advisory has established numerous international relationships over the years with Broker Dealers, Hedge Funds, Institutional Investors, High net worth Investors as well as with investor relations firms and consultants. These relationships are made available to all Hilbroy clients and our team will manage the relationships from introduction to post financing activities.
Jean François Amyot
1400 rue Begin
Montreal, QC H4R 1X1
Important Information About Forward-Looking Statements
All statements in this news release that are other than statements of historical facts are forward-looking statements, which contain our current expectations about our future results. Forward-looking statements involve numerous risks and uncertainties. We have attempted to identify any forward-looking statements by using words such as "anticipates", "believes", "could", "expects", "intends", "may", "should" and other similar expressions. Although we believe that the expectations reflected in all of our forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct.
A number of factors may affect our future results and may cause those results to differ materially from those indicated in any forward-looking statements made by us or on our behalf. Such factors include our limited operating history; our need for significant capital to finance internal growth as well as strategic acquisitions; our ability to attract and retain key employees and strategic partners; our ability to achieve and maintain profitability; fluctuations in the trading price and volume of our stock; competition from other providers of similar products and services; and other unanticipated future events and conditions.