Business

Apple shares rise after profit report

NYSE traders Image copyright Reuters

(Close) Shares in Apple rose 6% following strong earnings, but overall Wall Street indexes finished flat.

The company reported its first rise in sales in nine months on Tuesday after strong Christmas sales of its iPhone 7.

The main US indexes were unmoved by the Federal Reserve's widely expected decision to hold interest rates.

The Dow Jones was little changed, up 27 points at 19,891. The S&P 500 moved less than 1 point to 2,279 and the Nasdaq edged up 28 points to 5,643.

The US central bank ruled unanimously to keep its benchmark interest rate in a range of 0.5% to 0.75%, and said the outlook for the US economy remained positive.

Dennis de Jong, managing director at UFX.com, said: "The first US Fed policy decision since Donald Trump became president hasn't brought any shocks, as Fed chair Janet Yellen has kept interest rates unchanged for another month."

On the currency markets, the dollar rose slightly against the euro and the yen.

Oil prices also rose on signs that members of the Organization of the Petroleum Exporting Countries were making good on promises to cut output. Brent crude was up 1.6% to $56.45 a barrel.