Sony and Nintendo’s shares boost on Fed assurances

By Patrick Garratt, Thursday, 26 June 2008 10:35 GMT

According to this Telegraph report, Sony and Nintendo’s shares are up today on assurances from the Fed that the US economy is stable enough to keep interest rate rises on hold.

Sony’s shares, says the piece, are now at a five month high.

“The Fed doesn’t want to kill whatever growth they’re having,” Mushtaq Ibrahim, who manages about $1.4bn as chief investment officer at Amanah SSCM Asset Management Bhd in Kuala Lumpur, told Bloomberg. “You will probably see some upside in US growth rather than downside.”

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