Sat, 25 May 2019

U.S. stocks join in global markets rally

Lola Evans
16 May 2019, 06:29 GMT+10

NEW YORK, New York - U.S. stocks continued their rally on Wednesday, buoyed by hopes the U.S. and China will get back to nutting out a deal on trade soon.

Meantime U.S. President Donald Trump says he may delay auto tariffs he had proposed.

On foreign currency markets the British pound dived amidst continuing uncertainty over Brexit.

The Dow Jones Industrial Average closed 119.81 points or 0.47% higher on Wednesday at 25,651.86.

The Standard and Poor's 500 advanced 16.73 points or 0.59% to 2,851.14.

The Nasdaq Composite did best of all, appreciating by 87.65 points or 1.13% to 7,822.15.

The British pound dwindled to 1.2841, the biggest mover on FX markets on Wednesday.

The euro remained weak, last quoted at 1.1203.

The Japanese yen and the Swiss franc eased a touch to 109.58 and 1.0087 respectively.

The Canadian dollar edged up to 1.3442, while the Australian and New Zealand dollars remained friendless at 0.6924 and 0.6560 respectively.

In overseas markets the FTSE 100 in <London closed 0.76% higher on Wednesday.

The German Dax rose by 0.90%. The Paris-based CAC 40 added 0.62%.

In Asian markets, the Nikkei 225 in Japan gained 121.33 points or 0.58% to 21,188.56.

China's Shanghai Composite appreciated by 55.07 points or 1.91% to 2,938.68.

The Australian All Ords added 43.70 points or 0.69% to 6,370.90.

The Hang Seng in Hong Kong climbed 146.69 points or 0.52% to 28,268.71.

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