December 12, 2017
Wednesday, June 10, 2015

Wall St jumps on optimism about Greece; financials gain

US stocks jumped today, helped by optimism that Greece may be closer to reaching a deal with creditors and by gains in technology and financial shares.

All 10 major S&P 500 sectors ended higher, with the technology index up 1.6 percent and leading the gainers.

The S&P financial index, which has risen with the prospect of higher rates, climbed 1.4 percent and turned positive for the year.

The chairman of euro zone finance ministers said a cash-for-reform deal with Athens was still possible in time for their June 18 meeting, with just a few issues remaining to be solved, but Greek counter-proposals were not yet satisfactory.

The Dow Jones industrial average rose 236.36 points, or 1.33 percent, to 18,000.4, the S&P 500 gained 25.05 points, or 1.2 percent, to 2,105.2 and the Nasdaq Composite added 62.82 points, or 1.25 percent, to 5,076.69.

In Europe, some investors drew optimism from the prospect of a meeting between German Chancellor Angela Merkel, French President Francois Hollande and Greek Prime Minister Alexis Tsipras slated for after dinner.

The pan-European FTSEurofirst 300 share index closed up more than 1.7 percent.

Meanwhile, Japan's Nikkei share average fell to a three-week low and suffered its fourth consecutive losing session as the yen surged following comments from Bank of Japan Governor Haruhiko Kuroda.

The Nikkei fell 0.3 percent to 20,046.36, its lowest close since May 19, erasing earlier gains as the yen jumped after Kuroda said its effective exchange rate is unlikely to weaken further.

The broader Topix fell 0.4 percent to 1,628.23 while the JPX-Nikkei Index 400 shed 0.4 percent to 14,699.93. Turnover in the Tokyo Stock Exchange was about 15 percent above the average in the last 100 days at 2.941 trillion yen.

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Tags:  US  stock market  Europe  Nikkei  

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