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US, European stocks rise

22 February 2010 08:54 (UTC +04:00)

Baku - APA-Economics. US consumer prices rose by 0.2pct in January, just short of expectations focussed on a 0.3pct gain. But the core CPI (excludes food and energy) fell by 0.1pct, weaker than forecasts centred on a gain of 0.1pct, ibtimes.com.au reports.

European shares rose for the fifth straight day on Friday, hitting three-week highs, after US Federal Reserve officials stressed that borrowing rates would remain low. Subdued US inflation data also comforted investors. The FTSEurofirst index rose by 0.4pct with the UK FTSE up 0.6pct and the German Dax rose 0.7pct.

US sharemarkets rose modestly on Friday as investors digested the surprise hike in the Federal Reserve discount rate. At the close, the US Dow Jones index was higher by just over 9 points or 0.1pct with the S&P 500 up 0.2pct and the Nasdaq was up by 2pts or 0.1pct. Over the week the Dow Jones rose 3.0pct, the S&P 500 was up by 2.8pct and the Nasdaq rose 3.1pct.