Montreal, Canada (PressExposure) June 28, 2011 -- Hilbroy Advisory Inc. (DeutcheBörse: 2H0) End of the Day, Market wrap up.
Broad-based buying in thin volume helped stocks score strong gains this session. The action precedes a pivotal vote by Greece's parliament tomorrow.
There weren't many headlines to act as cues for traders this morning. Participants even dismissed the day's only data, which featured news that personal income for May increased by 0.3%, but spending was flat. The consensus among economists polled had called for a 0.4% increase in income and a 0.1% increase in spending. However, core personal consumption expenditures for the month increased by 0.3%, which is greater than the 0.2% increase that had been broadly anticipated.
After hovering near the neutral line for the first few minutes of trade, stocks began to stage a strong climb. Financials led the early effort with a quick sprint up to a gain of more than 1%. The sector spent the rest of the session sporting that gain.
Tech stocks eventually rallied to replace financials as the top performing sector. Tech, which is also the largest sector by market weight, settled with a 1.4% gain. Tech's strength helped give the NASDAQ an added lift.
Gains weren't limited to cyclical plays, though. Instead, all 10 major sectors ended the day in positive territory. Half of them had gains of nearly 1% or more.
The breadth and size of the move was partly made possible by the lack of share volume, which gave each trade greater relative weight than it would have had during a day of even average share volume. At just 835 million shares on the NYSE, total volume today was among the lightest of the year. Such paltry participation will likely persist ahead of the long, holiday weekend.
Even though vacation plans are expected to pull many off of their trading in coming days, plenty of attention will be paid to Greece's progress in putting its fiscal house in order. Another step comes tomorrow, when the country's parliament votes on whether or not to accept the austerity plan that country officials agreed upon last week with the European Union and International Monetary Fund.
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
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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.