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US stock market boost benefits videogame companies

Government bailout rumours lift US trading roughly 3 per cent

US videogame companies climbed yesterday as Dow Jones Industrial Average jumped roughly 3 per cent, amid rumours of a government plan to bailout banks.

Microsoft, one of the 30 companies in the DJIA, saw its share price climb 2.81 per cent from USD 24.57 to USD 25.26. Activision-Blizzard saw its shares rise 3.22 per cent to USD 16.03, up from the previous day's close of USD 15.53. Take-Two climbed 3.33 per cent, up by USD 0.50 from USD 15.01 to close at USD 15.51. Electronic Arts' stock rose by a larger amount at 6.7 per cent, going from USD 41.68 to USD 43.79. Similarly, THQ rose 6.56 per cent to USD 12.84 from USD 12.05.

Perhaps the best indicator of the turbulence of yesterday's markets was that it also saw the week's lowest point for all but one the companies. September 18 saw Take-Two drop to a week low of USD 14.93 and EA to USD 41.68. Activision-Blizzard fell to USD 15.54 and Microsoft fell to USD 24.27. Only THQ saw a worse day this week, when on Tuesday September 16 its share price fell to USD 11.92.

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