A roundup of trading on major world markets:
NEW YORK – US shares have surged after a strong rise in Europe’s equity markets, with investor zeal returning following a sell-off earlier in the week.
The Dow Jones Industrial Average jumped 263.17 (1.63 per cent) on Friday to 16,380.41.
The broad-based S&P 500 rose 24.00 (1.29 per cent) to 1,886.76, while the tech-rich Nasdaq Composite Index gained 41.05 (0.97 per cent) to 4,258.44.
A vertigo-inducing trade week saw markets careen up and down but calmer at week’s end.
US equity markets opened positive and stayed in the green all day following solid earnings reports from General Electric and Morgan Stanley and as European bourses soared.
“The fear factor is beginning to diminish and investors are beginning to focus on earnings,” said Peter Cadillo, chief market economist at Rockwell Global Capital.
LONDON – European stock markets surged as investors snapped up bargains, ending a roller-coaster week marked by alarm over fading global growth, a re-emergence of eurozone tensions and the spreading Ebola virus.
London’s benchmark FTSE 100 index climbed 1.85 per cent compared to Thursday’s close to end the week at 6,310.29 points.
In Paris, the CAC 40 jumped 2.92 per cent to 4,033.18 points, while Frankfurt’s DAX index surged 3.12 per cent to 8,850.27 points.
The euro fell to $US1.2756 from $US1.2809 late in New York on Thursday.
HONG KONG – Most Asian markets were mixed after Wall Street and European shares stabilised in response to upbeat US data, but traders remained on edge about the global economy and fresh fears over Greece.
The figures from Washington calmed nerves slightly, and helped push oil higher, while the US dollar and euro ticked up against the yen in the afternoon.
Tokyo reversed a morning advance to end 1.40 per cent lower, with exporters hit by the stronger yen. The Nikkei fell 205.87 points to 14,532.51, a five-month low.
Seoul sank 0.95 per cent, or 18.17 points, to 1,900.66 and Shanghai closed 0.65 per cent lower, giving up 15.32 points to 2,341.18.
However, Sydney rose 0.32 per cent, or 16.8 points, to 5,271.7 and Hong Kong rose 0.53 per cent, or 122.27 points to 23,023.21.
WELLINGTON – The NZX 50 Index rose 14.92 points, or 0.3 per cent, to 5146.94.
