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US and European market indices up

13 March 2009 09:27 (UTC +04:00)

Baku. Vahab Rzayev - APA-Economics. By close, the Dow Jones industrial average was ahead 239.66 points, or 3.46 percent, to 7,170.06. The Standard & Poor’s 500 rose 4.07 percent, 29.38 points, to 750.74. The Nasdaq composite index gained 3.97 percent, 54.46 points, to 1,426.10.
On the New York Stock Exchange, 2,839 stocks advanced and 261 declined on a volume of 7.9 billion shares traded.
Citigroup rose 8.4 percent, Bank of America rose 19 percent, Wells Fargo & Co. rose 17 percent, and JPMorgan Chase & Co. rose 14 percent.
GM rose 17.2 percent to $2.18 after its chief financial officer said it would not need its federal loan for March.
GE rose nearly 13 percent to $9.57 after Standard & Poor’s downgraded the conglomerate by one notch from "AAA" due to troubles in GE’s lending arm.
Meanwhile, pharmaceutical stocks soared Thursday on more acquisition news and a positive drug trial at Pfizer Inc.
Britain’s FTSE 100 rose 0.5 percent, Germany’s DAX index rose 1.1 percent, and France’s CAC-40 rose 0.8 percent. Japan’s Nikkei stock average dropped 2.4 percent, while Hong Kong’s Hang Seng index rose 0.6 percent.