Thursday, April 26, 2012

Global stocks edge higher despite euro zone worries

US stocks rose for a third day on Thursday after upbeat housing data and stronger-than-expected results from companies, including Citrix Systems Inc, overshadowed some high-profile earnings misses.

The Dow Jones industrial average rose 113.90 points, or 0.87 percent, to 13,204.62 at the close. The Standard & Poor's 500 Index advanced 9.29 points, or 0.67 percent, to 1,399.98. The Nasdaq Composite Index gained 20.98 points, or 0.69 percent, to 3,050.61.

Mixed corporate earnings and economic data left European shares closing little changed, taking a breather after a two-session rally that retained near-term technical momentum, charts showed.

The pan-European FTSEurofirst 300 index closed up 0.2 percent at 1,044.31 points and the Euro STOXX 50 index ended flat at 2,322.69 points.

In Japan, Nikkei share average ended flat after dipping in and out of negative territory as a sluggish start to earnings season and wariness ahead of a Bank of Japan meeting dampened sentiment. The Nikkei ended at 9,561.83, while the broader

Topix gained 0.1 percent to 810.10.