Monday, June 18, 2012

Global shares fall on euro zone contagion fears

The Nasdaq advanced, propelled by a rally in Apple and other big-cap tech stocks, but fears Europe's debt crisis is in danger of worsening limited broader gains.

The Dow Jones industrial average was down 25.28 points, or 0.20 percent, at 12,741.89. The Standard & Poor's 500 Index was up 1.94 points, or 0.14 percent, at 1,344.78. The Nasdaq Composite Index was up 22.53 points, or 0.78 percent, at 2,895.33.

Meanwhile, euro zone stocks fell as the broader FTSEurofirst 300 index of top European shares closed 0.01 percent higher at 993.36 points, after gaining as much as 1.1 percent in morning trade.

In Asia, Nikkei share average topped 8,700 for the first time in a month after Greece's pro-bailout parties won a parliamentary majority, easing fears of a messy euro zone exit.

The Nikkei rose 1.8 percent to 8,721.02, its highest closing level since May 22 and breaching above its 25-day moving average at 8,601. 

The broader Topix rose 1.7 percent to 738.81, also hitting a one-month closing high.