The Closing Bell, 11/9: Entertainment Properties Trust to offer shares

Entertainment Properties Trust is seeking to sell 4.5 million additional common shares, with proceeds to be used for general corporate purposes.

Shares in the Kansas City real estate investment trust, which owns retail centers and movie theater complexes, closed Monday at $33.66, up $1.40.

The company said following the sale, funds could be used to repay debt, and to fund the acquisition, development, or financing of properties.

In other regional stock news, Cerner gained $2.1, Waddell & Reed was up $1.12, and Kansas City Southern gained $1.02.

On Wall Street, the Dow Jones industrial average stormed to its highest level in more than a year Monday as a falling dollar boosted prices for gold, oil and other commodities. Stocks also jumped as investors grew more confident that governments around the world will keep interest rates low to help the global economy.

Energy and materials stocks led the market. The major indexes rose 2 percent and the Dow jumped 200 points for the second time in three days, reaching its highest level in 13 months.

News that the Group of 20 countries will keep economic stimulus measures in place signaled to investors that rates will remain low. With U.S. rates near zero, the G-20 news lessened demand for the dollar.

Even as investors are waiting for more signs that the economy is recovering, they’ve been focusing on the dollar when they make buy and sell decisions. Investors around the world see the dollar as weaker than other currencies, and so they’re using it for what’s known as “carry trade,” to finance purchases of investments in other countries. That trend takes the dollar down further when those purchases are made.

But some analysts are questioning investors’ stock moves given the still-weak economy, and warn that stocks and other investments could suffer big losses if the dollar were to turn higher.

For the day, the Dow Jones industrial average gained 203.52 points, or 2.03 percent, and closed at 10,226.94.

The Standard & Poor’s 500 index rose 23.78, or 2.22 percent, to close at 1,093.08.

The Nasdaq composite index climbed 41.62 points, or 1.97 percent, to 2,154.06.

The KansasCity.com index of 145 regional companies showed a gain of 14.3 points, or 2.37 percent, to 620.56.

Among Kansas City area companies of interest:
I Cerner Corp. closed at $79.57, up $2.12.

I Capitol Federal Financial closed at $30.38, up 71 cents.

I Commerce Bancshares Inc. closed at $40.30, up 96 cents.

I DST Systems Inc. closed at $43.64, up 73 cents.

I Garmin Ltd. closed at $28.12, down 31 cents.

I Great Plains Energy closed at $17.78, up 43 cents.

I H&R Block Inc. closed at $19.42, up 48 cents.

I Kansas City Southern closed at $28.95, up $1.02.

I Sprint Nextel Corp. closed at $3.43, up 58 cents.

I UMB Financial Corp. closed at $39.51, up 33 cents.

I Waddell & Reed Financial Corp. closed at $30.93, up $1.12.

I YRC Worldwide Inc. closed at $1.18, down 4 cents.

The Closing Bell is compiled from staff and wire reports by Steve Rosen. Call him at 816-234-4879 or send e-mail to srosen@kcstar.com. A recap of the day’s markets activity is available in the Business section of The Kansas City Star.