February 16, 2011 by staff 

Genzyme, U.S. stock futures were trading and made a strong opening, as Genzyme (Nasdaq: GENZ) agrees to the terms and conditions of the repurchase agreement as expected. Dell also strong fourth quarter performance against Wall Street has given impetus to the market to move forward. On the economic front, the report from the Commerce Department said housing in January rose 14.6 percent to 596,000 a year, againstanlysts’ forecasts of 539,000 for the month. Housing in December saw a decline of 5.1 percent.

Before the opening bell, Standard and Poor’s 500 futures were trading higher by 4.30 points, or 0.32 percent to 1,330.60. Nasdaq 100 futures rose to 2,388.00, gaining 6.50 points, or 0.27 percent. Dow industrial futures were trading higher by 33 points, or 0.27 percent to 12,235.

European indices were trading more on Wednesday, with the UK FTSE 100 gained 0.61 percent to 6074.12, while France’s CAC40 market by 0.80 percent to 4,143.06. German DAX was trading by 0.12 percent to 7,409.12.

Asian markets closed higher Wednesday for the most part. Japan’s Nikkei 225 closed higher by 61.62 points or 0.57 per cent to 10,808.29, while Singapore Straits Times closed higher by 14.06 points or 0.46 percent to 3,094.72. Hong Kong Hang Seng was $ 23,156.97, gaining 257.19 points or 1.12 percent. The Shanghai Composite Index also closed higher, gaining 0.86 percent to close at 2,924.19.

Crude oil was trading by 0.24 points or 0.28 percent to 84.56 a barrel, while gold stood at 1373.70, a slight increase of 0.10 points or 0.01 per percent.

In the foreign exchange market, the euro climbed to 1.3507, up 0.14 percent against the U.S. dollar, while dollar was at 0.06 percent to 83.7850-yen JPY cons. British Pound was trading down 0.46 percent at 1.6053 and Wednesday.

Tuesday, Wall Street closed lower, with Dow Jones Industrial Average lost 41.55 points, or 0.34 per cent to 12,226.64 on Monday’s close. NASDAQ was down 0.46 percent at 2,817.18, while S & P 500 fell 0.32 percent to 1,328.01.

Genzyme Corporation (Nasdaq: GENZ: 75.46, 1.16), which has agreed to be acquired by Sonofi-Aventis and 20.1 billion, has presented its fourth quarter results today. The company’s fourth quarter net income of 471.9 million and, or and 1.76 per share, compared to 23.2 million, or & and 0.09 per share for the same period last year. The stock is trading more than 1.62 percent to 75.55 and negotiation prior to the Wednesday market.

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