7 Apr 2010

US markets gain

8:35 am on 7 April 2010

Stocks on Wall Street have gained after minutes from the US Federal Reserve's last meeting eased concerns over interest rates.

The minutes, published on Tuesday, suggest the Fed could keep rates at very low levels for even longer than many anticipate if the economic outlook worsens.

The Nasdaq Composite was up 7 points, to 2,436. However, the Dow Jones Index has dipped by 4 points, to 10,969.

The Australian 200 Index closed 45 points higher, or 1%, to 4953 on Tuesday.

The NZX 50 closed up 33 points, or 1%, to 3276 on turnover of $77.2 million.

At 8.15am on Wednesday, the New Zealand dollar was trading at 70.65 US cents, 76.10 Australian cents, 46.25 pence, 66.23 yen and 0.52 27 euro. The Trade Weighted Index was at 65.68.