US shares rise on signs recession is easing

The Dow Jones Industrial Average added 22 points to 9,176.53 after the Commerce Department said the US economy had contracted 1% between April and June, less than the 1.5% predicted. Insurance firm Travellers Company was one beneficiary, up 2.5%, despite yesterday posting a 21% drop in net income to $740m for its second quarter. The biggest loser was Walt Disney, down 3.8%. It reported quarterly net income had dropped by a fifth after markets closed on Thursday. Meanwhile, in London, the FTSE was pulled lower as insurance firms fell out of favour ahead of first-half earning reports...