16 Aug 2011

Sharemarkets consolidate gains

11:17 am on 16 August 2011

Global shares have consolidated gains made on Friday after debt fears in the eurozone and the United States caused turmoil last week.

The Dow Jones Index in New York rose 214 points, or 1.9%, to end at 11,482 on Monday.

The Nasdaq Composite was up 47 points, or 1.9%, to 25 55

The FTSE 100 in London rose 0.6%, the DAX in Frankfurt climbed 0.4% and the CAC-40 in Paris rose 0.8%.

Earlier, the Nikkei in Tokyo rose 123 points to 9086.

The BBC reports that investors are now looking ahead to a meeting between German Chancellor Angela Merkel and French President Nicolas Sarkozy on Tuesday.

After emergency talks on the debt crisis, the European Central Bank said on Sunday night that it would buy bonds from Italy and Spain.

The Australian 200 Index rose 110 points to close at 4283 on Monday. The NZX 50 gained 36 points to 3253.

At 8.30am on Monday, the New Zealand dollar was trading at 83.25 US cents, 79.24 Australian cents, 50.78 pence, 63.94 yen and 0.5762 euro. The Trade Weighted Index was at 71.34.

Brent crude oil was trading at $US109.69 per barrel and gold was trading at $US1762.89 per ounce.