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World market indices rally on revised bailout

10 February 2009 07:36 (UTC +04:00)

Baku. Vahab Rzayev - APA-Economics. US and global stocks should get a boost once the new version of the bank bailout plan is announced and the Congress agrees on a stimulus plan.
The Dow Jones Industrial Average lost 9 points or 0.1%, to end at 8,270.87. The Standard & Poor’s 500 index was virtually unchanged at 869.89. The Nasdaq Composite index was barely changed as well, at 1,591.56.
US light crude oil for March delivery fell 61 cents to settle at US$39.56 a barrel on the New York Mercantile Exchange. Gasoline prices rose three-tenths of a cent to a national average of US$1.924 a gallon.
The dollar fell against the euro and yen. COMEX gold for April delivery fell US$21.50 to settle at US$892.80 an ounce.
European shares rose in a choppy session amid relief in the banking sector after Barclays reported a 1% profit fall and as investors continued to wait for details on a package of measures to shore up the U.S. economy and banking sector.
The FTSE 100 index rose 0.4% to 4,307.61, while Germany’s DAX 30 index added 0.5% to 4,666.82 and the French CAC-40 index gained 0.4% to 3,134.87.