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US and European stocks increrase

10 February 2010 08:25 (UTC +04:00)

Baku. Vahab Rzayev - APA-Economics. The Dow Jones industrial average jumped back above 10,000 on hope that a resolution was near for Greece’s debt crisis, Associated Press reported.

The Dow rose 150 points Tuesday, a day after closing below 10,000 for the first time in three months. The major indexes all gained more than 1 percent. Treasury prices slid as demand for safer investments fell.

World stock markets have been tumbling in recent weeks on concerns that debt problems would spread. The euro is still down about 5 percent for the year, but rose for a second day against the dollar as the outlook improved for Greece.

The Dow rose 150.25, or 1.5 percent, to 10,058.64, its steepest percentage gain since Nov. 9. The broader Standard & Poor’s 500 index rose 13.78, or 1.3 percent, to 1,070.52, while the Nasdaq composite index rose 24.82, or 1.2 percent, to 2,150.87.

More than three stocks rose for every one that fell on the New York Stock Exchange, where consolidated volume came to 5.2 billion shares compared with 4.2 billion Monday.

The Russell 2000 index of smaller companies rose 8.68, or 1.5 percent, to 595.17.

Overseas, Britain’s FTSE 100 rose 0.4 percent, Germany’s DAX index and France’s CAC-40 each rose 0.2 percent. Japan’s Nikkei stock average fell 0.2 percent.