Bourse

Home page

Bourse

US market indices go up

22 September 2008 08:48 (UTC +04:00)

Baku. Vugar Mustafayev - APA-Economics. The Dow Jones industrial average closed up 368.75 points, or 3.35%, at 11,388.44. The Standard & Poorâ€™s 500 Index advanced 48.57 points, or 4.03%, to 1,255.08. The Nasdaq Composite Index shot up 74.80 points, or 3.40%, to 2,273.90.
Shares of Washington Mutual surged 42.1% to $4.25 after the Wall Street Journal reported that Citigroup was considering making a bid for the US savings and loan.
Citigroup shares leaped 22.7% on the New York Stock Exchange.
Shares of Morgan Stanley, punished earlier this week as investors fretted about the outlook for the last two remaining US investment banks, jumped 20.7% . Shares of rival Goldman Sachs climbed 20.2%.
European stocks also soared on Friday driven by massive gains in the banks after the US government revealed it planned to spend billions of dollars to mop up bad debts fuelling the global financial crisis.
The FTSEurofirst 300 index closed 8.2% higher at 1,150.78 points, recouping some of the sharp losses from earlier in the week and notching up the biggest one-day percentage gain on record
In London, the FTSE 100 index of leading companies rose 8.84 per cent to close at 5,311.30 points.
In Paris, the CAC 40 jumped 9.27 per cent, its largest one-day gain, to 4,324.87 points, and in Frankfurt, the DAX was up 5.56 per cent at 6,189.53 points.
All three markets easily regained key support levels that had been breached earlier in the week in some of the most tumultuous trading on record.