A roundup of trading on major world markets:
NEW YORK – Buoyant data on consumer confidence and the manufacturing sector gave Wall Street a solid bump higher after Wednesday’s flat reopening following the Hurricane Sandy shutdown.
The data trumped another mixed bag of earnings and dull forecasts for the coming months from companies like ExxonMobil and Pfizer.
The Dow Jones Industrial Average gained 136.16 points, or 1.04 per cent, at 13,232.62.
The broad-based S&P 500 gained 15.43 points, or 1.09 per cent, at 1,427.59, while the Nasdaq added 42.83 points, or 1.44 per cent, at 3,020.06.
The positive economic indicators lifted investor sentiment ahead of Friday’s keenly awaited October jobs report, the final snapshot of the economy before the November 6 election.
LONDON – European stocks rose on a barrage of positive earnings reports and buoyant US data, shrugging of the latest twist in Greece’s saga to unlock bailout funding.
London’s FTSE 100 index of top companies jumped 1.37 per cent to 5,861.92 points, while in Paris the CAC 40 advanced 1.35 per cent to 3,475.40 points and Frankfurt’s DAX 30 gained 1.03 per cent to 7,335.67 points.
European markets shrugged off a comment by the IMF that talks on releasing bailout funds needed to stave off Greece’s looming bankruptcy had become stuck.
The Greek exchange’s key index fell by five per cent however, with the banking stocks sub-index plunging by 11.7 per cent.
Greek Prime Minister Antonis Samaras has said the coffers in Athens will run dry on November 16 unless his country receives the next 31.2 billion euros ($A39.3 billion) in rescue funding.
HONG KONG – Asian stock markets were mixed, with stronger Chinese manufacturing data providing support as Tokyo’s rise is stunted by a huge slump in electronics giant Panasonic.
Wall Street’s lead was tepid in a quiet first session after superstorm Sandy had forced the market to close for two days.
Hong Kong gained 0.83 per cent, or 180.05 points, to 21,821.87, while Shanghai surged 1.72 per cent, or 35.55 points, to 2,104.43 on Thursday.
Tokyo closed 0.21 per cent higher, gaining 18.58 points to 8,946.87. But Seoul eased 0.71 per cent, or 13.62 points, to 1,898.44.
Data showed China’s manufacturing activity expanded in October for the first time in three months, adding to renewed optimism that the world’s No.2 economy is beginning to awake from its recent slumber.
The purchasing managers’ index (PMI) stood at 50.2 last month, better than 49.8 in September, according to official figures. A PMI reading above 50 indicates expansion while anything below points to contraction.
Separately, a survey by HSBC came in at 49.5 in October – from 47.9 in September – which, although still in contraction, represents another rise.
The official PMI had contracted in August and September because of a broader slump in the economy caused by weak demand in Europe and the United States.
WELLINGTON – New Zealand shares fell as Fletcher Building gave up early gains and Skellerup Holdings was punished a second day for lowering its guidance.
The NZX 50 Index fell 25.99 points, or 0.7 per cent, to 3931.88.
