Global shares rebound on Spain bailout speculation
World stocks rose today after US markets turned higher, fuelled by strong results from home improvement retailer Home Depot.
Global share prices had come under pressure earlier after international lenders clashed over help for Greece, stoking fears the country's debt crisis could flare up anew.
European shares erased losses as a fresh round of trader speculation that Spain may be close to asking for a sovereign bailout fueled appetite for financial shares.
The Dow Jones industrial average was up 29.57 points, or 0.23 percent, at 12,844.65. The Standard & Poor's 500 Index was up 3.99 points, or 0.29 percent, at 1,384.02. The Nasdaq Composite Index was down 3.29 points, or 0.11 percent, at 2,900.97.
European shares rebounded in late trade as a fresh round of trader speculation that Spain may be close to asking for a sovereign bailout fuelled appetite for financial stocks.
The FTSEurofirst 300 closed up 4.81 points, or 0.5 percent, at 1,099.16, bouncing off a low of 1,086.37.
Japan's Nikkei average fell for a seventh straight session today, its longest losing streak in seven months, on fears that the US fiscal problem may tip the world's largest economy into recession.The Nikkei slipped 0.2 percent to 8,661.05 points, hitting a four-week closing low for the third day in a row. It has lost 4.3 percent during its longest daily losing streak since April.
The broader Topix was flat at 722.56 in relatively light trade, with 1.5 billion shares changing hands, down fromlast week's average of 1.59 billion but up from a 10-week low of 1.26 billion shares reached on Monday.
COMMENTS >
