US stocks advance as China denies Euro bond sell-off

Shortly before 16.00 GMT, the index was up 2.06% or 205 points to 10,179 as investors were buoyed by a statement form China denying reports it is considering selling its holdings in European bonds. The passing of legislation in Spain, making way for €15bn of additional budget cuts, also restored investor confidence and helped offset disappointing US first quarter GDP figures, which came in at a lower-than-expected 3%. Microsoft is up 5% despite news rival Apple had surpassed it in market capitalisation, while Intel American Express, Alcoa and General Electric are all in positive terri...