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US, European markets up

14 December 2009 07:25 (UTC +04:00)

Baku- APA-Economics. US stocks managed to post moderate gains as better-than-expected reports on retail sales and consumer sentiment lifted big blue chip stocks. But gains were limited by weakness in technology and the strength of the US dollar.
The Dow Jones Industrial Average rose 66 points, or 0.6%, to 10,471.50, finishing at its highest level of 2009. The S&P 500 index gained 4 points, or 0.4%, at 1,106.41. The Nasdaq Composite index ended little changed at 2,190.31. The Dow and the S&P ended the week higher, but the Nasdaq slipped.
Market breadth was positive and volume was light. Trading volume has been light so far this month and trading more volatile as investors close the books early. As of Friday’s close, the S&P 500 has gained 64% since closing at a 12-year low on March 9.
The major US stock indexes are bumping up against multi-month highs, with the Dow flirting with a fresh 14-month high, as of Friday afternoon, and the S&P 500 and Nasdaq sitting just below those same levels.
European shares rose on Friday, led by miners as a string of economic reports indicated that China’s economic recovery continues to strengthen. The pan-European Dow Jones Stoxx 600 index rose 0.5% to 245.13, extending gains from Thursday. Still, over the week it lost 1.6%.
The UK’s FTSE 100 index closed up 0.3% at 5,261.57, the German DAX index climbed 0.8% to 5,756.29 and the French CAC-40 index advanced 0.1% to 3,803.72.