Dow soars over 200 points as US joins rally

clock

US indices have opened almost 2% higher on the first trading day of 2012 as risk appetite resumes across global markets.

The S&P 500 has opened 1.8% higher at 1,280 points, with the Dow Jones Industrial Average up 1.9%, or 230 points, to 12,447. The jump follows gains made in the UK, Europe and Asia. The strong opening in the US helped push the FTSE back up to 5,663 points, a rise of 1.6%, with resources groups Kazakhmys, Essar Energy and BHP Billiton, leading the way after putting on more than 6% each. Meanwhile lower-than-expected unemployment figures in Germany have helped the Dax rise 1.4% to 6,161, though France's Cac 40 is down 0.2% to 3,214 following strong gains on Monday. The euro rose 0.7% ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets