31 Aug 2011

Rise in US stocks

9:01 am on 31 August 2011

Stocks in the United States have risen after falling in early trade, after the latest US Federal Reserve minutes boosted expectations it will act again to try to stimulate the economy.

The Dow Jones Index was up 21 points, 0.2% on Tuesday, to 11,565. The Nasdaq Composite was up 15 points, or 0.6%, to 2577.

European markets closed mixed: the FTSE 100 in London jumped 2.7% to 5268 points and the CAC-40 in Paris edged up 0.18% to 3159 points. But in Frankfurt, the DAX dipped 0.46% to 5643 points.

The Australian 200 Index closed on Tuesday up 6 points, or 0.1%, at 4269.

The NZX 50 closed up 11 points, or 0.3%, to 3317.

At 8.05am on Wednesday, the New Zealand dollar was trading at 85.37 US cents, 79.82 Australian cents, 52.38 pence, 65.49 yen and 0.5917 euro. The Trade Weighted Index was at 72.89.

Brent crude oil was trading at $US116.91 per barrel and gold was trading at $US1825.49 per ounce.