A roundup of trading on major world markets:
NEW YORK – US stocks have surged as Berkshire Hathaway announced a $US37.2 billion ($A50.2 billion) acquisition of Precision Castparts and petroleum-linked equities rose on higher oil prices.
The Dow Jones Industrial Average gained 241.79 points (1.39 per cent) to 17,615.17
The broad-based S&P 500 jumped 26.61 (1.28 per cent) to 2,104.18, while the tech-rich Nasdaq Composite Index advanced 58.25 (1.16 per cent) to 5,101.80.
LONDON – European stock markets closed higher on optimism for a new Greek bailout deal, with London rebounding after poor Chinese data had dragged the index down.
London’s benchmark FTSE 100 index closed 0.26 per cent ahead at 6,736.22 points, after spending most of the day in the red.
Frankfurt’s DAX 30 finished 0.99 per cent higher at 11,604.78 points, and the CAC 40 in Paris won 0.79 per cent to 5,195.41.
The euro rose to $US1.0988 from $US1.0962 late on Friday in New York.
Weak figures from China had weighed particularly hard on shares in oil majors and mining groups, and dragged the entire FTSE down for most of the day.
But late in the afternoon, word arose from US Federal Reserve vice chairman Stanley Fischer’s positive comments on low inflation levels and “full employment”.
HONG KONG – Asian shares mainly rose, led by a surge in China as hopes for more market intervention and state-backed mergers overshadow fresh weak economic data.
Tokyo equities scraped back earlier losses to close up 0.41 per cent and Sydney added 0.63 per cent.
Shanghai led the gains, with shares closing up 4.92 per cent on speculation the government will accelerate mergers between state-owned enterprises and release new funds to support the market.
Hong Kong clawed back early losses to end the day down 0.13 per cent, while Seoul bucked the regional trend to close 0.35 per cent lower.
WELLINGTON – The S&P/NZX 50 Index declined 3.64 points, or 0.1 per cent, to 5865.02.
