May 25, 2013
Global stocks rise on Merkel remarks
World shares rose to near 3-1/2-month highs on Thursday after supportive comments from Germany on the European Central Bank's efforts to contain the region's debt crisis.
On Wall Street, the Standard & Poor's 500 index managed to hold above 1,400, close to a four-year high. Analysts said stocks will likely stay around current levels through options expiration on Friday.
The Dow Jones industrial closed up 85.33 points, or 0.65 percent, at 13,250.11. The S&P 500 ended up 9.98 points, or 0.71 percent, at 1,415.51. The Nasdaq Composite Index finished up 31.46 points, or 1.04 percent, at 3,062.39.
European shares rose to within touching distance of their 2012 peaks, lifted by bank stocks and propped up by persistent expectations of new stimulus measures to tackle the global economic slowdown and euro zone debt crisis.
The FTSEurofirst 300 index ended up 0.3 percent at 1,104.37 points, near its 2012 closing high of 1,106.79 points reached on March 16.
Japan's Nikkei share average hit a six-week high today, gaining a steady foothold above 9,000 after strong US data pushed the yen lower against the US dollar, triggering a wave of short-covering on exporters.
The Nikkei advanced 1.9 percent to 9,092.76 , clearing its 200-day moving average with ease and jumping above the psychologically key 9,000 level to hit its highest closing level since July 4, when it hit a two-month high.