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Around the world in finance news
- 10 hours ago April 01, 2014
US stocks pushed higher with
technology stocks heavily sold last week showing a rebound, helped by
Janet Yellen's assurance the Federal Reserve will continue to support
the economy.
Source: AP
A ROUNDUP of trading on major world markets:
NEW YORK — US stocks pushed higher with technology stocks
heavily sold last week showing a rebound, helped by Janet Yellen's
assurance the Federal Reserve will continue to support the economy. By
late morning, the Dow Jones Industrial Average was up 87.76 points (0.54
per cent) to 16,410.82.The broadbased S&P 500 had added 10.82 (0.58 per cent) at 1,868.44.
Meanwhile, the tech-rich Nasdaq Composite gained 39.29 (0.95 per cent) to 4,195.04, as investors pushed back into shares that fell out of favour last week amid worries of both a bubble in the sector and tensions over Ukraine.
Federal Reserve Chair Yellen gave the markets support in a speech in which she underlined that unemployment was still a big challenge for the economy and that the Fed will maintain its extraordinary measures until the jobless rate falls a lot more.
LONDON — Europe's main stock markets slid, with traders saying many investors stayed on the sidelines ahead of a European Central Bank interest rate decision.
London's FTSE 100 ended down 0.26 per cent at 6,598.37 points. In Paris, the CAC 40 fell 0.45 per cent to 4,391.50 points as official figures showed the French public deficit and debt in 2013 were higher than previous government estimates — dealing a fresh blow to President Francois Hollande a day after disastrous local polls.
Meanwhile the DAX 30 in Frankfurt shed 0.33 per cent to 9,555.91 points news that German retail sales, a closely watched measure of household confidence, increased in February.
HONG KONG — Asian markets mostly rose following a Wall Street rally as attention turns to the release of key data from Japan and the US later in the week.
Tokyo jumped 0.90 per cent, or 131.80 points, to 14,827.83, Sydney climbed 0.52 per cent, or 27.9 points, to 5,394.8 and Seoul added 0.23 per cent, or 4.61 points, to 1,985.61.
Hong Kong rose 0.39 per cent, or 85.53 points, to finish at 22,151.06, but Shanghai slipped 0.41 per cent, or 8.41 points, to 2,033.31.
Investors were unmoved by news that North and South Korea had traded live artillery fire across their disputed maritime border on Monday, forcing South Korean islanders to take shelter. The exchange came a day after the North drove up tensions by threatening a new nuclear test.
WELLINGTON — The NZX 50 Index fell 2.914 points, or about 0.1 per cent, to 5139.982.
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