21 Jul 2010

US markets up, European down

8:34 am on 21 July 2010

Stocks have risen on Wall Street erasing earlier losses, helped by higher building permits, offseting lower than expected sales at IBM and Texas Instruments.

Goldman's stock rose despite posting lower second-quarter earnings and revenue.

The Dow Jones Index rose 76 points to close at 10,230 and the Nasdaq Composite up 24 points to 2,222.

In Europe, the FTSE 100 index in London was down 0.2%, the DAX in Frankfurt was down 0.7% and the CAC-40 in Paris was down 0.5%

Earlier, the Nikkei index in Toyko fell 108 points to 9300. The Hang Seng index in Hong Kong was on 20, 264 , up 173 points.

Across the Tasman, the Australian 200 was up 45 points, or 1%, to 4404.

The NZX 50 was up 31 points, or 1%, to close at 2995 on turnover of $67 million.

At 8.25am on Wednesday, the New Zealand dollar was trading at 71.62 US cents, 81.05 Australian cents, 46.90 pence, 62.68 yen and 0.5557 euro. The Trade Weighted Index was at 67.34.

Brent crude oil was trading at $US77.26 per barrel and gold was trading at $US1191.45 per ounce.