News from AAP

Euro stocks little changed as US closes for holiday

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A roundup of trading on major world markets:

NEW YORK – US markets were closed for the July 4 Independence Day public holiday. Prior to the close in a holiday-shortened trading session, shares were boosted by reports of strong June sales from the leading US auto makers.

Trade closed at 1700 GMT (0300 AEST), after only three and a half hours, to allow for travel ahead of the July 4th Independence Day holiday.

At the finish the Dow Jones Industrial Average was up 72.05 points (0.56 per cent) to 12,943.80.

The S&P 500-stock index added 8.51 (0.62 per cent) to 1,374.02, while the tech-rich Nasdaq put on 24.85 points (0.84 per cent) to 2,976.08.

LONDON – European stock markets were little changed and the euro slipped against the dollar on Wednesday as investors waited for key monetary policy decisions by the European Central Bank and Bank of England.

Markets expect an ECB rate cut on Thursday along with a decision by the BoE to pump out an additional STG50 billion ($A76.78 billion) in stimulus to boost recession-hit Britain.

When trading ended for the day in London, the benchmark FTSE 100 index was essentially unchanged at 5,684.47 points.

Frankfurt’s DAX 30 edged 0.20 per cent lower to 6,564.80 points and in Paris the CAC 40 gave up 0.11 per cent to close at 3,267.75.

In foreign exchange deals, the euro dropped to $1.2561 from $1.2607 late on Tuesday in New York.

HONG KONG – Asian markets have mostly risen following a lead from the US and Europe amid rising hopes that central banks are poised to act to boost economic growth.

But the euro weakened before a European Central Bank meeting on Thursday as traders waited to see whether the bank would back a deal to help the eurozone, and oil slipped back after a rally in the US sparked by Iranian sabre-rattling.

Tokyo closed up 0.41 per cent, or 37.58 points, on Wednesday at 9,104.17, its highest finish in about two months, while Sydney was up 1.09 per cent, or 45.0 points, to end at 4,172.2, led by mining and resources stocks.

Seoul finished 0.35 per cent, or 6.63 points, higher at 1,874.45, while in afternoon trade Hong Kong edged down 0.09 per cent, and Shanghai was off 0.13 per cent.

WELLINGTON – The NZX 50 Index rose 38.48 points, or 1.1 per cent, to 3483.11.