The UK's benchmark index the FTSE 100 fell 17.9 points to 5994.1 in early trading with losses for tel...
It rose 61.51 points, a gain of 2.9%, to 2204.43 while the Dow Jones added 28.92 to 10,591.22 and the Standard & Poor 500 climbed 12.39 points to 1253.80 and is now just 24 points short of it 20 February close. The Nasdaq rose with gains for Centaur Mining and Exploration up $2.81, as much as 84%, to $6.12, software provider Vignette rose $1.78 to 6.93 and Ulticom increased $5.81 to 25.37. EMC, AOL Time Warner and Compaq led the leader board on the New York Stock Exchange climbing $4.4 to 43, $2.74 to 46.54 and $2.1 to 22.17 respectively.
Other gainers on the NYSE included Lucent up 72 cents to $13.1, Nortel $1.35 to 18.95 and Corning $1.45 to 31. Nokia declined half a dollar to $25.5. In Wednesday morning trading the Asian markets rallied on the strength of the Nasdaq's buoyancy. In Japan the Nikkei 225 rose 36.15 to 12,723.89 with NEC Corp gaining 6.2% to 1835. Hong Kong's Hang Seng fell143.69 to 14,177.36 with losses for property groups Sun Hung Kai Properties and Henderson Land Development down 1.8% to HK$84 and 2.8% to HK$45.8. Australia's ASX200 closed up 0.9% to 3362 with global media group News Corp gaining 3.9% to $16.95 after the country's central bank the Reserve Bank cut its interest rate in an attempt to boost its slowing economy. Telstra increased 4.4% to A$6.73 following a 25% gain in first half profit. Net income for the six months to the end of December came in at A$2.62bn from 2.1bn a year ago. The Singapore Strait Times increased 0.5% to 1910.32 with tech stocks including Chartered Semiconductor, up 6.9% to S$5.45, gaining value.
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Was responsible for IT and transformation
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Paul Bruns and Elaine Parkes