A roundup of trading on major world markets:
NEW YORK – US stocks have snapped a five-day losing streak, posting strong gains after positive earnings from UPS and a big rally in petroleum-linked stocks.
The Dow Jones Industrial Average rose 189.68 points (1.09 per cent) to 17,630.27.
The broad-based S&P 500 gained 25.61 (1.24 per cent) at 2,093.25, while the tech-rich Nasdaq Composite Index jumped 49.43 (0.98 per cent) to 5,089.21.
Shipping company UPS powered up 5.1 per cent after reporting second-quarter net income of $US1.2 billion ($A1.65 billion), up from $US454 million in the year-ago period.
Dow member ExxonMobil jumped 4.1 per cent, while fellow oil and gas producers Apache and ConocoPhillips gained 4.4 per cent and 3.1 per cent, respectively, as oil prices stabilised after a dive.
LONDON – Takeover news buoyed European stock markets, with sentiment also boosted by bargain-hunting after recent China-inspired losses.
London’s benchmark FTSE 100 index of blue-chip companies won 0.77 per cent to close at 6,555.28 points, encouraged also by data showing the British economy rebounded by 0.7 per cent in the second quarter.
Frankfurt’s DAX 30 added 1.06 per cent to end the day at 11,173.91 points, and the CAC 40 in Paris rose 1.01 per cent to 4,977.32 points.
The euro nudged lower to $US1.1049 from $1.1091 late in New York on Monday.
HONG KONG – Asian markets mostly fell again, with Shanghai seeing another round of wild volatility a day after its heaviest one-day loss in more than eight years.
Shanghai, which collapsed by 8.48 per cent on Monday, ended 1.68 per cent lower, dropping 62.56 points to 3,663.00.
The benchmark index gyrated sharply through the day between a 5.0 per cent decline and a one per cent rise.
However, Hong Kong – which sank more than three per cent Monday – clawed back early losses to end up 0.62 per cent, or 151.98 points, at 24,503.94.
Tokyo eased 0.10 per cent, or 21.21 points, to 20,328.89 and Sydney edged down 0.09 per cent, or 5.19 points, to end at 5,584.7. Seoul was flat, edging up just 0.27 points to 2,039.08.
WELLINGTON – The S&P/NZX 50 Index fell 23.68 points, or 0.4 per cent, to 5848.38.
