29 Mar 2013

US indices hit records

8:43 pm on 29 March 2013

The S&P 500 index closed on Thursday night at a record high of 1569, up 6 points or 0.4%.

The last time it broke into new territory was on 9 October 2007 when it closed at 1565, the BBC reports.

The Dow Jones index was also up 0.4%, with a rise of 52 points taking it to a record 14,578.

The Nasdaq joined in the upbeat mood created by the smooth reopening of banks in Cyprus and generally positive economic news. It rose 11 points, or 0.3%, to close at 3,268.

The S&P has been near its record high for several weeks, despite the still sluggish performance of the US economy.

This means it finishes the quarter 10% higher than its level at the beginning of the year and more than double its low point during the financial crisis.