A roundup of trading on major world markets:
NEW YORK – US stocks have finished higher, bouncing back from deep losses in the prior session following strong gains in Asian and European equity markets.
The Dow Jones Industrial Average advanced 33.20 points (0.19 per cent) to 17,548.62 on Thursday.
The broad-based S&P 500 rose 4.63 (0.23 per cent) to 2,051.31, while the tech-rich Nasdaq Composite Index gained 12.64 (0.26 per cent) at 4,922.40.
US stocks were in positive territory all day, but the gains eroded in the afternoon. The S&P 500 was up by nearly 30 points during its peak earlier in the session.
LONDON – Europe’s stock markets finished higher as optimism surged ahead of a deadline for Greece to submit new bailout plans, while a rebound in Chinese shares boosted sentiment.
Frankfurt’s DAX 30 finished 2.32 per cent up at 10,996.41 points, while the CAC 40 in Paris ended 2.55 per cent higher at 4,757.22 points compared with Wednesday’s close.
Outside the eurozone, London’s benchmark FTSE 100 index of leading companies ended the day 1.40 per cent ahead at 6,581.63 points, after the Bank of England decided to keep its main lending rate at 0.50 per cent, where it has stood for more than six years.
But it was largely reports of possible movement towards a maddeningly elusive Greek rescue plan that influenced most trading, with news suggesting Athens was ready to accept increased belt-tightening as creditors considered debt relief.
HONG KONG – Asian markets rose, reversing heavy morning losses and tracking a surge in Shanghai after China announced new measures to staunch a mainland rout that has fuelled fears about the wider economy.
Shanghai ended 5.76 per cent higher, adding 202.14 points to 3,709.33 on a wildly volatile day.
It had tumbled 3.40 per cent at the open but soared as much as 6.38 per cent in the afternoon – a 10 per cent swing.
Hong Kong closed up 3.73 per cent after having slipped 0.45 per cent soon after opening.
Tokyo recovered from losses of more than three per cent to end 0.60 per cent, or 117.86 points, higher at 19,855.50.
Seoul added 0.58 per cent, or 11.60 points, to 2,027.81 and Sydney was slightly higher, adding 1.50 points to 5,471.00 – both indexes had fallen about 1.6 per cent in the morning.
WELLINGTON – The S&P/NZX 50 Index fell 30.25 points, or 0.5 per cent, to 5737.45.
