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Stock markets close higher

29 January 2009 09:21 (UTC +04:00)

Baku. Vahab Rzayev - APA-Economics. World markets rose sharply Wednesday as investors bet the Obama administration will help banks deal with the bad assets weighing down the financial system and that a fiscal stimulus package will be approved by lawmakers, AP reports.
In Europe, Germany’s DAX soared 4.5 percent to close at 4,518.72, France’s CAC 40 jumped 4.1 percent to 3,076.01, and Britain’s FTSE 100 gained 2.4 percent to 4,295.20.
On Wall Street the Dow Jones industrial average rose 200.72 points, or 2.46 percent, to 8,375.45. The S&P 500 index jumped 28.38, or 3.36 percent, to 874.09, while the Nasdaq composite index rose 53.44, or 3.55 percent, to 1,558.34.
Financial stocks led Wall Street and European markets higher.
Japan’s Nikkei 225 stock average rose 45.22 points, or 0.6 percent, to 8,106.29. Singapore’s market, which also closed the previous two sessions, gained 2.5 percent and Australia’s main stock measure rose 1.5 percent. Mainland China’s markets are closed all week for the Lunar New Year while Hong Kong reopens Thursday.