May 21, 2013
World shares end mixed
US stocks rose today and the S&P 500 ended at a fresh five-year high as stronger-than-expected exports from China spurred optimism about global growth prospects.
The Dow Jones industrial average gained 80.71 points, or 0.60 percent, to 13,471.22. The Standard & Poor's 500 Index rose 11.10 points, or 0.76 percent, to 1,472.12. The Nasdaq Composite Index added 15.95 points, or 0.51 percent, to 3,121.76.
European shares fell, with a pan-European index slipping from a near two-year high hit earlier in the day, as comments from Swatch's CEO on the outlook for Swiss watch exports hurt luxury shares.
The FTSEurofirst 300 index of top European shares closed 0.3 percent lower at 1,164.65 points, after rising to as high as 1,170.29 points earlier in the session, a level not seen since March 2011.
Japan's Nikkei average rose in active trade as renewed weakness in the yen bolstered shares of exporters, while China's strong exports data lifted investor sentiment.
The Nikkei climbed 0.7 percent to 10,652.64, taking the index deep into "overbought" territory. Its 14-day relative strength index stood at 75.83, above the 70-mark which is deemed overbought and often indicates the market is ripe for a correction in the near term.
The Nikkei China 50 index, comprised of companies with significant exposure to the world's second-largest economy, gained 1.3 percent as China's exports expanded at their fastest pace in seven months in December.