A roundup of trading on major world markets.
NEW YORK – US stocks have finished a buoyant week on an up note, with the tech-rich Nasdaq enjoying the biggest gains thanks to Apple.
The Dow Jones advanced 33.74 points (0.20 per cent) to close Friday at 17,084.49, while the broad-based S&P 500 added 1.46 points (0.07 per cent) at 2,014.89.
The Nasdaq Composite Index climbed 19.68 points (0.41 per cent) to 4,830.47, lifted by a 2.4 per cent gain in Apple.
Analysts said investor sentiment had improved thanks to rising confidence the US Federal Reserve will hold off on hiking interest rates until next year.
“Investors want to rally on the idea the Fed is on hold at least for the foreseeable future and the economy is still doing OK and rates are going to remain low for a considerable period of time,” said Alan Skrainka at Cornerstone Wealth Management.
LONDON – Europe’s major stock markets have advanced after gains across Asia thanks to growing hints that US interest rates will not rise until next year.
Shares in mining companies meanwhile surged on Friday after an announcement from Glencore that it will slash zinc production.
The Federal Reserve postponed a move to hike US interest rates as it was worried about a global slowdown, concerns over the strong dollar and listless US inflation, minutes from its last monetary policy meeting revealed on Thursday.
European indices made ground “thanks to another positive US close which spilled over into Asia, extending recent gains as investors add to risky bets on expectations of prolonged easy monetary policy”, said Mike van Dulken, head of research at trading group Accendo Markets.
London’s benchmark FTSE 100 index climbed 0.65 per cent to stand at 6.416,16 points, boosted by mining giant Glencore’s seven per cent jump.
In the eurozone on Friday, the Paris CAC 40 won 0.54 per cent to trade at 4,701.39 points compared with Thursday’s close.
Frankfurt’s DAX 30 stocks index rallied 1.04 per cent to 10,096.60 points, with troubled Volkswagen’s shares soaring to close up 8.35 per cent at 125.90 euros
TOKYO – Malaysia’s ringgit and Indonesia’s rupiah have led an emerging market rally against the US dollar while Asian equities also pushed higher.
It comes after minutes from the US Federal Reserve’s latest policy meeting suggested it could keep borrowing costs at record lows into next year.
Energy firms tracked a surge in oil prices as hopes for crude demand picked up and ongoing crises in the Middle East fanned supply worries.
The gains across assets come after a painful July-September quarter that saw trillions wiped off global markets owing to worries about the state of China’s economy and an expected US interest rate rise.
The Hang Seng Index in Hong Kong ended up 0.46 per cent, or 103.89 points, to 22,458.80.
In Shanghai the composite index rose 1.27 per cent, or 39.79 points, to 3,183.15, while the Shenzhen Composite Index, which tracks stocks on China’s second exchange, gained 1.47 per cent, or 26.24 points, to 1,811.63.
The Nikkei 225 index at the Tokyo Stock Exchange closed 297.50 points higher at 18,438.67, while the broader Topix index of all first-section shares jumped 2.28 per cent, or 33.73 points, to 1,515.13.
