A roundup of trading on major world markets:
NEW YORK – US stocks have gained, following European equities higher on hopes for a deal with Greece as US data showed private-sector hiring accelerated in June.
The Dow Jones Industrial Average rose 138.40 points (0.79 per cent) to 17,757.91.
The broad-based S&P 500 advanced 14.31 (0.69 per cent) to 2,077.42, while the tech-rich Nasdaq Composite Index gained 26.26 (0.53 per cent) to 5,013.12.
European equities jumped as investors reacted positively to news of Greece’s bid for a new bailout. Eurozone policy makers said they would not negotiate until Sunday’s referendum in Greece on creditors’ reforms.
LONDON – European stock markets rebounded, with Greece proposing a reworked deal closer to the position of its creditors as Athens continued to seek a bailout that would keep it in the eurozone.
The CAC 40 in Paris on Wednesday climbed 1.94 per cent to 4,883.19 points and Frankfurt’s DAX 30 jumped 2.15 per cent to 11,180.50 points.
Madrid won 1.32 per cent and Milan gained 2.21 per cent, while the Athens stock markets remained shut.
Outside the eurozone, London’s benchmark FTSE 100 index of top companies rose 1.34 per cent to end the day at 6,608.59 points.
In foreign exchange, the euro slid to $US1.1084 from $US1.1139 late in New York on Tuesday.
HONG KONG – Asian markets have mostly risen as investors shrugged off Greece’s default, with Tokyo lifted by an upbeat survey on business confidence, but Shanghai’s volatile run continued, plunging more than five per cent.
The euro edged down against the US dollar after Athens failed to service its debt to the International Monetary Fund, and analysts warned of continued uncertainty, even after Greeks vote in a weekend referendum, which is effectively a poll on eurozone membership.
Tokyo on Wednesday rose 0.46 per cent, or 93.59 points, to end at 20,329.32, Sydney climbed 1.04 per cent, or 56.70 points, to 5,515.70 and Seoul added 1.14 per cent, or 23.69 points, to end at 2,097.89.
Shanghai collapsed in the last hour to end 5.23 per cent, or 223.52 points, lower at 4,053.70. The benchmark index gave up all Tuesday’s gains, resuming a downward spiral that has seen it drop more than 20 per cent in just over two weeks.
Hong Kong and Bangkok were closed for public holidays.
WELLINGTON – The S&P/NZX 50 Index rose 67.4 points, or 1.2 per cent, to 5794.36.
