A roundup of trading on major world markets:
NEW YORK – US stocks put on solid gains after two flat days, helped by fresh data on jobless claims and housing construction that added evidence the economy is growing steadily, if slowly.
But social networking giant Facebook hit a new low, sinking below $US20 as the quiet period for early investors ended, and Manchester United, which went public last Friday, closed below its IPO price for the first time.
At the closing bell on Thursday, the blue-chip Dow Jones Industrial Average was up 85.33 points, or 0.65 per cent, at 13,250.11.
The broader S&P 500 index added 9.98 points, or 0.71 per cent, to 1,415.51.
The tech-heavy Nasdaq surged 31.46 points, or 1.04 per cent, to 3,062.39.
LONDON – European stock markets posted gains amid light trading volumes, spurred by data that shows the US economy is pursuing its slow pace of recovery.
London’s benchmark FTSE 100 index of leading companies added just 0.03 per cent to 5,834.51 points on Thursday, but Frankfurt’s DAX 30 rose by 0.71 per cent to 6,996.29 points after briefly breaking above 7,000 points in intraday trades for the first time since April.
In Paris the CAC 40 gained 0.91 per cent to 3,480.49 points, its highest level since March 26.
Milan climbed 1.87 per cent and Madrid leapt by 4.05 per cent in volatile trading that was exacerbated by very light volumes.
The euro rose to $US1.2355 from $US1.2285 late on Wednesday in New York.
HONG KONG – Asian markets closed mixed, with Tokyo the best performer as the yen weakened against the dollar owing to dimming expectations of fresh monetary easing by the US Federal Reserve.
With few catalysts to drive action during the holiday season, trade was light on Thursday, although shares were kept buoyant by lingering hopes for a restart of bond buying by the European Central Bank and new stimulus in China.
Tokyo rose 1.88 per cent, or 167.72 points, to 9,092.76, Sydney climbed 1.14 per cent, or 49.0 points, to 4,330.2 and Seoul closed flat, adding 0.95 points, to 1,957.91.
Hong Kong gave up its morning gains and slipped 0.45 per cent, or 89.34 points, to 19,962.95 while Shanghai shed 0.32 per cent, or 6.75 points, to 2,112.20.
Exporters on Japan’s Nikkei were the main beneficiaries of the weakening yen, which eased to a four-week low against the dollar.
WELLINGTON – The NZX 50 Index fell 14.98 points, or 0.4 per cent, to 3616.19.