June 19, 2013
Wall Street climbs as European shares snap rally on global growth concerns
US equities ended on Friday on a high note, with the benchmark S&P 500 index registering its best week of the year as investors returned to stocks on expectations Spain was closer to getting aid for its troubled banks.
The Dow Jones industrial average ended up 93.24 points, or 0.75 percent, at 12,554.20. The Standard & Poor's 500 Index was up 10.67 points, or 0.81 percent, at 1,325.66. The Nasdaq Composite Index was up 27.40 points, or 0.97 percent, at 2,858.42.
European equities snapped a four-day rally as investors, already disappointed at a lack of US monetary stimulus, positioned for a possible batch of weak Chinese economic data over the weekend.
The FTSEurofirst 300 closed 0.2 percent lower at 982.30 points, having traded 108.79 percent of its 90-day volume average.
Spain's IBEX 35 rose 1.8 percent, outperforming all major national indices on expectations Madrid would ask the euro zone for help with recapitalisation its banks at the weekend.Japan's Nikkei share average snapped its longest weekly losing streak in 20 years by a whisker today, but fell sharply on the day on disappointment at the lack of a clear signal on further US monetary stimulus and caution over China.
The broader Topix index fell 1.8 percent to 717.74, but held clear of the sub-700 28-year low it hit on Monday.