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Markets close up on Monday

09 September 2008 10:34 (UTC +04:00)

Baku. Vugar Mustafayev - APA-Economics. U.S. stock indexes closed with strong gains Monday on a rally sparked by the governmentâ€™s rescue of two mortgage giants.
The Federal Housing Finance Agencyâ€™s announcement Sunday it would take control of the Federal Home Loan Mortgage Corp. and the Federal National Mortgage Association pushed stock indexes into positive ground in Tokyo, Frankfurt and London, The New York Times reported.
The news provided a quick jump in U.S. markets and enough lift to keep them in the black through most of the day.
The Dow Jones industrial average closed up 290.43 points to 11,510.74, up 2.59 percent. The Standard and Poorâ€™s 500 rose 25.48 points, or 2.05 percent, to 1,267.79. The Nasdaq composite index rose 13.88 points, or 0.62 percent, to 2,269.76.
On the New York Stock Exchange, 2,021 stocks advanced and 1,094 declined on a volume of 1.69 billion shares traded.
The euro traded at $1.4147 from Fridayâ€™s $1.4145, while the dollar traded at 108.41 yen, up from Fridayâ€™s 108.08 yen.
The 10-year U.S. Treasury note rose 10/32, yielding 3.669 percent.
In Tokyo, the Nikkei 225 closed up 412.23 points, or 3.38 percent, at 12,624.46.
The FTSE index in London gained 205.60 to 5,446.30, up 3.92 percent.