15 Sep 2009

Wall St gains as merger activity lifts mood

11:52 am on 15 September 2009

US stocks rose on Monday as optimism over reports of more merger activity outweighed concerns about trade friction between the United States and China over tyre import duties imposed by Washington.

The Dow Jones industrial average ended up 21.39 points, or 0.22%, at 9,626.80.

The Standard & Poor's 500 Index was up 6.61 points, or 0.63%, at 1,049.34.

The Nasdaq Composite Index finished 10.88 points higher, or 0.52%, at 2,091.78.

Europe, Asia

European shares fell, breaking six days of gains, as weaker bank and energy shares outpaced positive food producers, while the US-China trade row hurt sentiment.

The pan-European FTSEurofirst 300 index of top shares closed down 0.35 at 990.95 points.

Japan's Nikkei stock average fell 2.32% in moderate trade. Toyota and other exporters were battered as the dollar hit a seven-month low against the yen. The benchmark Nikkei fell 242.27 points to 10,202.06.

In Hong Kong, the Hang Seng Index closed down 229.22 points, or 1.08%, to 20,932.20.