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Monday, 4 March, 2002, 21:30 GMT
World stock markets surge
man silhouetted against stock market graph
Things are looking up
US stock markets have continued to rally strongly following the upbeat close to trading last week.

New York's new optimism has driven key share indexes around the world higher.

Stock market rises, 2130 GMT
New York's Dow
New York's Nasdaq
London's Ftse
Paris' Cac
Frankfurt's Dax
Japan's Nikkei
In New York, the Dow Jones index of leading shares closed 218 points higher at 10,586 - a rise of 2.1%.

And the technology orientated Nasdaq index was also on the way up, gaining 3.2%, despite sharp falls from software maker Oracle.

"The consensus is growing that we are pulling out of it (recession)," said Michael Kayes of Eastover Capital Management.

A host of economic data spanning consumer spending, gross domestic product and manufacturing has pointed to the fact that the US economy is on the road to recovery.

Investors are now hoping this turnaround will begin to feed through to the performance of companies.

Global hopes

Gains in the US followed a strong showing in Tokyo earlier on Monday, as well as solid rises on key European markets.

The Japanese stock market has surged to six-month highs, with the benchmark Nikkei closing 5.8% higher, its biggest one-day percentage gain for a year.

In London, the FTSE 100 index of leading companies closed 73 points higher at 5,242.

And traders in Paris and Frankfurt also enjoyed healthy gains during the day.

Stock markets around the world tend to take their lead from the US, in the same way as the US economy has a significant impact on leading economies around the world.

See also:

28 Feb 02 | Business
US economy shows surprise strength
01 Mar 02 | Business
Mixed message from US economy
30 Jan 02 | Business
Bush promises to defeat recession
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