May 20, 2013
Global shares rise on strong US jobs report
World equity markets rallied today after an unexpectedly sharp jump in US employment in February reinforced the view that the world's biggest economy is gaining traction.
The Dow Jones industrial average posted its fourth consecutive intraday record high, while European shares and a gauge of global equity markets rose to their highest levels in more than 4-1/2 years.
The Dow Jones industrial average was up 60.71 points, or 0.42 percent, at 14,390.20. The Standard & Poor's 500 Index was up 7.03 points, or 0.46 percent, at 1,551.29. The Nasdaq Composite Index was up 12.82 points, or 0.40 percent, at 3,244.91.
European shares hit their highest level in 4-1/2 years today after robust US jobs data fuelled expectations of a pick-up in global growth while central banks' keep policy supportive.
The FTSEurofirst 300 index of top European shares closed 0.9 percent higher at 1,195.20 points, after rising as high as 1,197.73 following the US data, a level not seen since September 2008.
The euro zone's blue-chip Euro STOXX 50 index added 1.4 percent to 2,728.78 points, posting a weekly gain of 4.3 percent, its biggest weekly rise in nearly four months.
Japan's Nikkei share average ended at a new 53-month high, as exporters and real estate shares rose helped by bullish US data, a weakening yen, and ongoing optimism aggressive easing will soon be adopted by the Bank of Japan's new leadership.
The Nikkei advanced 2.6 percent to 12,283.62, its highest closing level since September 2008. For the week, the index gained 5.8 percent, the biggest weekly gain since December 2011.