Bourse

Home page

Bourse

US and European market indices move up

15 May 2009 07:45 (UTC +04:00)

Baku - APA-Economics. Investors shoved aside jitters about the economy to do a little bargain hunting, AP reported.
Stocks rose Thursday after mostly falling for three days as traders scooped up beaten-down financial and retail stocks. The buying was subdued after a worse-than-expected weekly unemployment report added to concerns that the economic recovery might not come as quickly as hoped.
The Dow Jones industrial average rose 75 points, but lagged gains by the Standard & Poor’s 500 index and Nasdaq composite index. Financial stocks rose after falling earlier in the week and lifted the KBW Bank Index, which tracks 24 of the nation’s largest banks, 3.5 percent.

In late afternoon trading, the Dow rose 75.03, or 0.9 percent, to 8,359.02. The S&P 500 index rose 11.47, or 1.3 percent, to 895.39, while the Nasdaq rose 30.65, or 1.8 percent, to 1,694.84.
About three stocks rose for every one that fell on the New York Stock Exchange, where volume came to 1.04 billion shares.
In other trading, the Russell 2000 index of smaller companies rose 11.17, or 2.4 percent, to 482.99.
Bond prices were mixed after rising a day earlier. The yield on the 10-year Treasury note, a widely used benchmark for loans including home mortgages, slipped to 3.10 percent from 3.12 percent late Wednesday.
The dollar was mixed against other major currencies, while gold prices fell.
Light, sweet crude rose 60 cents to settle at $58.62 per barrel on the New York Mercantile Exchange.
Overseas, Britain’s FTSE 100 rose 0.7 percent, Germany’s DAX index advanced 0.2 percent, and France’s CAC-40 rose 0.1 percent. Japan’s Nikkei stock average fell 2.6 percent.