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Wall Street starts off well

05 January 2009 09:38 (UTC +04:00)

Baku. Vahab Rzayev - APA-Economics. The US market started off the new year optimistically. On Friday, investors brushed off a weaker-than-expected report on manufacturing, sending US stocks higher.
The Dow Jones Industrial Average rose 2.9% to 9034.69 and the Standard & Poorâ€™s 500 Index gained 3.2% to 931.8. The Nasdaq Composite advanced 3.5% to 1632.21. General Motors led the Dow higher, gaining 14% to US$3.65 after gaining the first of its government bailout funds. Exxon Mobil rose 2.3% to US$81.64 and Chevron gained 3.5% to US$76.52 as oil advanced.
European stock markets ended higher on Friday, the first trading day of the new year, with London’s FTSE 100 index of leading shares up 127.62 or 2.88 per cent at 4,561.79 points.
The Frankfurt Dax shot up 162.87 points, or 3.39 per cent, at 4,973.07 points.
The CAC 40 index in Paris rose 131.72 points, or 4.09 per cent, to 3,349.69 points.
Japanese sharemarkets were closed for the New Year holiday.
The Nikkei index ended the year on Tuesday, rising 112.39, or 1.28 per cent, to 8,859.56. The Tokyo stock market reopens on Monday, January 5.