LONDON: News that the US economy emerged from recession drove up stock markets in Europe and the United States on Thursday, as relieved investors reversed the previous day’s heavy falls.
On Wall Street, the Dow Jones Industrial Average chalked up 0.72 percent in opening trades to 9,833.05, a day after Wall Street stocks plunged on a surprise drop in new home sales. The tech-heavy Nasdaq rose 1.03 percent to 2,080.88 and the broad-market Standard & Poor’s 500 index added 0.97 percent to 1,052.73.
In Europe, London’s FTSE 100 index of top shares was 0.68 percent higher at 5,114.84 points in afternoon trade. In Paris, the CAC 40 leapt 1.13 percent to 3,705.20 points and Frankfurt’s DAX 30 gained 1.23 percent to 5,563.92 points.