Wednesday, March 30, 2011
Wall Street rides winners at quarter's end
US stocks rose with activity dominated by money managers buying recent winners, including energy and small-caps, as the quarter nears its end.
The Dow Jones industrial average added 71.60 points, or 0.58 percent, to 12,350.61. The Standard & Poor's 500 rose 8.82 points, or 0.67 percent, to 1,328.26. The Nasdaq Composite gained 19.90 points, or 0.72 percent, to 2,776.79.
European shares hit a three-week closing high after a US labour report revived confidence in a recovery in the world's largest economy.
The pan-European FTSEurofirst 300 index of top shares ended up 0.8 percent at 1,134.63 points, its highest closing level since March 9.
Japan's Nikkei stock average climbed 2.6 percent, hitting its highest level since a post-quake panic sell-off as the yen softened against the dollar, but investors said the gains may be short-lived as bargain-hunting by foreigners peters out.The Nikkei .N225 ended the day up 2.6 percent, or 249.71 points, to 9,708.79. The broader Topix index .TOPX advanced 1.9 percent to 866.09.
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