MARKET ROUNDUP (Source Bloomberg)

U.S. Stocks Have Best Weekly Rally Since June on Budget; after President Barack Obama expressed confidence on a budget agreement with Congress and data from China to Germany bolstered optimism about global growth. All 10 groups except for utilities in the Standard & Poor's 500 Index rose during the Thanksgiving-shortened week. An index of homebuilders climbed 5.4 percent amid better-than-estimated housing data. The S&P 500 advanced 3.6 percent to 1,409.15 for the week, extending its 2012 gain to
12 percent. The Dow Jones Industrial Average rallied 421.37 points, or 3.4 percent, to 13,009.68. Both gauges had the best week since June 8. The S&P 500 began the week with the biggest advance in two months after Obama met with senior Democrats and Republicans on Nov. 16 for talks to avoid a so-called fiscal cliff of $607 billion in automatic tax increases and spending cuts next year.

U.K. Stocks Rise For Fifth Day; extending the benchmark FTSE 100 (UKX) Index's biggest-weekly advance in almost a year, as business confidence rebounded in Europe's two largest economies. The FTSE 100 added 28.11 points, or 0.5 percent, to 5,819.14 at the close in London. The gauge has climbed 3.8 percent this week amid optimism U.S. policy makers will reach an agreement to avoid a budget deadlock and as a report signaled manufacturing expanded in China this month. The German Ifo institute said its business climate index, based on a survey of 7,000 executives, climbed to 101.4 from 100 in October, the first gain in eight months. The median economist forecast was for a drop to 99.5. In France, sentiment among factory executives rose to 88 in November from the lowest level in more than three years, according to the national statistics office Insee. That followed a drop to 85 in October and beat the median economist forecast for a reading of 87.

Oil Caps Weekly Gain on German Business Confidence; as German business confidence unexpectedly rose in November, a signal Europe's largest economy may expand. Crude oil for January delivery rose 90 cents to $88.28 a barrel on the New York Mercantile Exchange, the highest settlement since Nov. 6. Futures climbed 1.9 percent this week, the biggest gain since the five days ended Oct. 12. Prices are down 11 percent this year.

Source:Jupiter Securities Research, 26 November 2012