18 Feb 2010

US and European markets climb

9:02 am on 18 February 2010

Stocks in the United States have climbed as earnings, as housing construction posted a better-than-expected increase in January.

Heavy equipment maker Deere & Co posted profits well ahead of analysts' expectations.

The Dow Jones Index was up 11 points, or 0.1%, to 10,111 and the Nasdaq Composite was up 5 points, or 0.2%, to 2219.

Earlier in Europe: the FTSE in London was up 38 points, or 0.7%, to 5282, the DAX in Frankfurt was up 58 points, or 1%, to 5650 and the CAC-40 in Paris was up 56 points, or 1.5%, to 3725.

The Australian 200 Index closed on Wednesday up 100 points, or 2.2%, to 4468.

The NZX 50 closed on Wednesday up 24 points, or 0.8%, to 3111.

At 8.30am on Thursday, the New Zealand dollar was trading at 70.26 US cents, 78.27 Australian cents, 44.83 pence, 64.01 yen and 0.5166 euro. The Trade Weighted Index was 65.13.

Brent crude oil was trading at $US75.32 per barrel and gold was trading at $US1118.45 per ounce.