Tuesday, January 18, 2011

Wall Street rises as Google, Caterpillar help offset Apple

US stocks gained, overcoming weak Citigroup results and concerns circling Apple after Chief Executive Steve Jobs' medical leave.

The Dow Jones industrial average rose 50.55 points, or 0.43 percent, to end at 11,837.93. The Standard & Poor's 500 Index added 1.78 points, or 0.14 percent, to 1,295.02. The Nasdaq Composite Index gained 10.55 points, or 0.38 percent, at 2,765.85.

European shares hit their highest close in more than 28 months, as euro zone finance ministers inched towards improving a rescue fund, and investor confidence grew in Germany.

The FTSEurofirst 300 index of top European shares rose 0.9 percent to end the day provisionally at 1,167.59 points, the highest close since September, 2008.

Japan's Nikkei average got a boost from property and banking shares to edge higher on Tuesday, while investors cautiously waited to see Wall Street's reaction to news that Apple Inc CEO Steve Jobs was again taking medical leave.

The benchmark Nikkei ended the day up 0.2 percent or 16.12 points at 10,518.98.

The broader Topix index rose 0.3 percent to 931.58.