US stocks have opened higher but the Swiss franc’s sharp surge continued to roil markets, forcing shares of leading forex dealer FXCM to be suspended as trading began.
Five minutes into trade on Friday, the Dow Jones Industrial Average was up 46.43 points (0.27 per cent) at 17,367.14.
The broad-based S&P 500 added 6.41 (0.32 per cent) at 1,999.08, while the tech-rich Nasdaq Composite Index gained 16.44 (0.36 per cent) at 4,587.27.
FXCM shares were suspended after losing nearly 90 per cent of their value in pre-market trade as the company admitted some of its clients lost hugely after the Swiss National Bank on Thursday loosened its cap on the franc’s value, and were $US225 million short of funds owed the company.
“As a result of these debit balances, the company may be in breach of some regulatory capital requirements,” it said early Friday.