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McDonald's sales boost US stocks

Dec 11 2012 07:44
AFP

Washington - McDonald's, the world's largest restaurant chain, and Chinese economic data that beat estimates bolstered US stocks on Monday as all three major indices finished in positive territory.

McDonald's share price added 1.1% to $89.41, after the company said its November sales rose 2.4% globally. Traders were encouraged by a report that Chinese factory output and retail sales data beat economists' estimates.

The blue-chip Dow Jones Industrial Average gained 14.75 points, to 13,169.88. The broader Standard & Poor's 500 Index rose 0.48 points, to 1,418.55. The technology-heavy Nasdaq Composite Index was unchanged at 2,986.96.

The US currency was lower at 77.31 euro cents from 77.35 euro cents on Friday. The dollar was off against the Japanese currency to ¥82.37 from ¥82.49.

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