BBC NEWS Americas Africa Europe Middle East South Asia Asia Pacific
BBCi NEWS   SPORT   WEATHER   WORLD SERVICE   A-Z INDEX     

BBC News World Edition
 You are in: Business  
News Front Page
Africa
Americas
Asia-Pacific
Europe
Middle East
South Asia
UK
Business
E-Commerce
Economy
Market Data
Entertainment
Science/Nature
Technology
Health
-------------
Talking Point
-------------
Country Profiles
In Depth
-------------
Programmes
-------------
BBC Sport
BBC Weather
SERVICES
-------------
EDITIONS
Friday, 12 October, 2001, 05:31 GMT 06:31 UK
Markets return to pre-attack levels
New York Stock Exchange
US traders are in a buying mood again
One month after the US attacks, most stock markets around the world have finally recovered their lost ground.

A rally on Thursday took US shares close to - or in some cases above - their levels of 10 September, before the suicide attacks on New York and Washington.

The Dow Jones Industrial Average has now recovered 85% of the 1,369 points it lost in the past four weeks, while the Nasdaq Composite and Standard & Poor's 500 indexes finished just above their pre-attack levels.

A strong week's performance in Asia saw Japanese shares also return to early September's prices, and the Nikkei 225 index gained almost 2.5% on Friday alone.

The London market achieved the same feat earlier in the week.

Tech stocks boost

The markets were spurred by a strong performance from computer chip and other technology stocks.

The high-tech dominated Nasdaq gained 75.22 points, or 4.63%, to close at 1,701.48.

The internet sector alone rose more than 8%, with strong performances from Yahoo, which gained $1.57 to $12.50 after an upbeat trading statement, and eBay.

Networking giant Cisco Systems rose $1.31 to $16.46, above its 11 September price.

The Dow, which includes 30 of America's biggest companies, gained 169 points at 9410.45.

Investors were in a buying mood as America remembered the victims of the 11 September attacks, one month on.

The world's biggest company, and a key Dow component, General Electric (GE) gained $1.03 to $38.94, after releasing third-quarter results that were in line with expectations.

Uncertainty

But there were mixed feelings about whether the rally would be sustained.

Charles G Crane, a strategist at Victory SBF Capital Management, said: "The fact that a company like GE was able to meet toned-down expectations is again the lack of a negative being a positive for the market.

"The sense I have is that we could retest the September lows before the end of the year or we could do it within next four or five trading sessions.

"We really don't know."

Share prices around the world plummetted in the wake of the 11 September but have been steadily recovering since.

London's FTSE 100 index of leading shares closed above 10 September's closing price of 5,033 for the first time on 5 October.

 WATCH/LISTEN
 ON THIS STORY
Axel Knutson of Tradingweapon.com
"I think this rally is going to go on"
The Markets: 9:29 UK
FTSE 100 5760.40 -151.7
Dow Jones 11380.99 -119.7
Nasdaq 2243.78 -28.9
FTSE delayed by 15 mins, Dow and Nasdaq by 20 mins
Launch marketwatch
View market data

Rebuilding

Political uncertainty

Profiles

Issues

FACT FILE

IN DEPTH

FORUM

TALKING POINT
See also:

08 Oct 01 | Business
03 Oct 01 | In Depth
02 Oct 01 | Business
Links to more Business stories are at the foot of the page.


 E-mail this story to a friend

Links to more Business stories

© BBC ^^ Back to top

News Front Page | Africa | Americas | Asia-Pacific | Europe | Middle East |
South Asia | UK | Business | Entertainment | Science/Nature |
Technology | Health | Talking Point | Country Profiles | In Depth |
Programmes