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Hope For Central Bank Capital Infusion Lifts Markets

The markets advanced during the midday with the Dow gaining 73 points to 12,725 investors welcomed indications from central banks that capital may be available to ailing banks. Nasdaq climbed 21 points to 2857.

On the upside

ATP Oil & Gas (Nasdaq: ATPG) sued the federal government for improperly and illegally suspending all offshore drilling after the Deep Horizon explosion and oil spill.

Analysts from Citi and Oppenheimer upgraded Nokia (NYSE: NOK) saying that cost cutting measures announced yesterday are necessary.

National Bank of Greece (NYSE: NBG) stock continued climbing as investors anticipate additional capital from central banks.

On the downside

Standard & Poor's Ratings Services downgraded EnergySolutions' (NYSE: ES) corporate credit rating two notches to BB- from B.

Dyax (Nasdaq: DYAX) discontinued Phase 2 clinical trials of its angiotensin converting enzyme inhibitor-induced angioedema treatment ecallantide.

II-VI (NYSE: IIVI) lowered its fourth quarter guidance.

In the broad market, advancing issues outpaced decliners by a margin of nearly 2 to 1 on the NYSE and by nearly 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 5 points to 767.

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