Wall Street, European shares higher on Greek deal
US stocks rose modestly for a third straight day and European shares edged up slightly, after Greece reached a deal to secure a financial bailout, but investors were cautious after weeks of gains.
The Dow Jones industrial average was up 6.51 points, or 0.05 percent, at 12,890.46. The Standard & Poor's 500 Index was up 1.99 points, or 0.15 percent, at 1,351.95. The Nasdaq Composite Index was up 11.37 points, or 0.39 percent, at 2,927.23.
Meanwhile, European stocks also rose after the European Central Bank President Mario Draghi confirmed a deal had been reached on austerity measures needed for a Greek bailout but gains were capped when he warned Europe's economic outlook was uncertain.The FTSEurofirst 300 index of top European shares finished 0.3 percent higher at 1,073.53 points. It had touched 1,079.97 on Wednesday, the highest since early August.
In Asia, Japan's Nikkei average fell from a three-month high today after China's inflation rate accelerated faster than market expectations and uncertainty remained over Greek bailout talks, though it still held above the 9,000 mark.
The benchmark pared losses in the afternoon, with a trader at a U.S. bank citing hedge funds picking up blue chip stocks. The Nikkei closed 0.2 percent lower at 9,002.24, moving further away from its 200-day moving average near 9,060, after rallying 1.1 percent the previous session.
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