Thursday, March 15, 2012

Wall Street: S&P 500 ends above 1,400 for first time since 2008

The S&P 500 closed above 1,400 for the first time since the 2008 financial crisis today as stocks resumed the upward climb that has yielded a steady stream of gains this year.

The Dow Jones industrial average rose 58.66 points, or 0.44 percent, to end unofficially at 13,252.76. The S&P 500 Index gained 8.31 points, or 0.60 percent, to finish unofficially at 1,402.59. The Nasdaq Composite added 15.64 points, or 0.51 percent, to close unofficially at 3,056.37.

European share prices closed at near 33-week highs today as further signs of an improvement in the US economy boosted sentiment. 

The FTSEurofirst 300 index ended 0.4 percent firmer at 1,102.17 points after hitting its highest since August in the previous session. It is up 10 percent this year and has almost fully recovered after a 10.7 percent decline in 2011.

Japan's Nikkei average rallied for a third straight session today, lifted to a fresh eight-month closing high by major exporters that surged on the back of a weaker yen while recent data boosted confidence about a US economic recovery.

The benchmark Nikkei gained 0.7 percent to 10,123.28 and the broader Topix advanced 0.8 percent to 863.61.