29 Sep 2009

US and European markets up

8:49 am on 29 September 2009

A burst of merger activity On Wall St cheered investors on Monday.

Xerox is expanding into data management with a $US9 billion acquisition of ACS. Drugs makers Abbott and Johnson & Johnson are buying into European concerns

Kraft Foods is still trying to succeed with a £10 billion takeover of Chocolate giant Cadbury.

The Dow Jones Index was up 125 points or 1.3% to 9790. The Nasdaq Composite was up 39 to almost 2% to 2130.

Earlier, London was up 1.6% and Frankfurt and Paris were around 2.5% higher.

The Australian 200 Index was down 35 points, 0.75%, to 4677 on Monday.

The NZ sharemarket opens at 3131 on Tuesday after closing up 19 points, 0.6%, on Monday.

At 8.15am, the New Zealand dollar was trading at

71.56 US cents, 82.20 Australian cents, 45.09 pence, 64.20 yen and 0.4902 euro.The Trade Weighted Index was at 65.33.