US Stocks rallied Friday to end higher for the second week in a row, amid heightened confidence that the pace of the economic recovery is gaining momentum.
The Dow Jones industrial average (INDU) jumped 73 points, or 0.7%, to close at 10,270.47. Gains were broad, with 22 of the 30 Dow components closing higher.
Some analysts are saying "We were in the second-worst bear market for the Dow since 1900. It's not overly surprising that there's some bounce back. Cheap money is seeking a home in equities, and that momentum is pushing the runup,"
LONDON - European stock markets wilted on Thursday, as investors awaited the University of Michigan US consumer confidence index due on Friday, although London managed a small gain on prospects for a merger of British Airways and Iberia of Spain.
The FTSE 100 index rose 9.75 points, or 0.19 per cent, to finish at 5,276.50 points.
BA shares jumped 7.5 per cent on news that British Airways and Iberia were holding board meetings on a merger that would create a European giant to rival Air France-KLM and Lufthansa.
FRANKFURT - The DAX 40 slid 4.39 points, or 0.08 per cent, to 5,663.96 points.
PARIS - The CAC 40 fell 6.32 points, or 0.17 per cent to end at 3,808.07.
World oil prices slid on Friday close to one-month lows as traders switched focus to weak demand and rising inventories in key energy consuming nation the United States.
New York's main contract, light sweet crude for delivery in December, fell as low as 75.57 US dollars per barrel, before pulling back to 76.41, down 53 cents from Thursday's closing level.
The Australian share market is likely to open the week higher after US stocks rallied on Friday on encouraging earnings reports and gains in metals prices.
The Wall Street rally also pushed the Australian dollar to close the week higher, as increased investor confidence encouraged buying in higher yielding currencies.
At 0649 AEDT on the Sydney Futures Exchange, the December share price index contract was up 28 points at 4,754.
Significant Scheduled Events For 16 November, 2009:
NZ producer price index (PPI), Q3 Japan GDP, Q3 UK house price index, Nov US retail sales, Oct US Empire State (NY) manufacturing index, Nov US business inventories, Sep EU consumer price index (CPI), Oct US Fed chairman Bernanke speaks (ALL) - US Gaming Conv (ANO) - Annual General Meeting (BBI) - Annual General Meeting (BLG) - Annual General Meeting (BSL) - Site Tour (CFE) - Annual General Meeting (IPL) - Full Year Result (OST) - Annual General Meeting (QRX) - Annual General Meeting (TDI) - Annual General Meeting (TEL) - Ex div. 6.0c (BEP) - Annual General Meeting (09:00 AM) (TRH) - Annual General Meeting (09:00 AM) (EPG) - Annual General Meeting (09:30 AM) (AET) - Annual General Meeting (10:00 AM) (BEC) - Annual General Meeting (10:00 AM) (BSI) - Annual General Meeting (10:00 AM) (CER) - Annual General Meeting (10:00 AM) (CXD) - Annual General Meeting (10:00 AM) (EQF) - Annual General Meeting (10:00 AM) (STU) - Annual General Meeting (10:30 AM) (TBI) - Annual General Meeting (10:30 AM) (ADY) - Annual General Meeting (11:00 AM) (BCC) - Annual General Meeting (11:00 AM) (ENG) - Annual General Meeting (11:00 AM) (LTR) - Annual General Meeting (12:00 PM) (SOO) - Annual General Meeting (12:30 PM) (CHN) - Annual General Meeting (01:00 PM) (CRK) - Annual General Meeting (01:00 PM) (CNK) - Annual General Meeting (02:00 PM) (CST) - Annual General Meeting (02:00 PM) (CTO) - Annual General Meeting (02:00 PM) (BCD) - Annual General Meeting (03:00 PM) (BSM) - Annual General Meeting (04:00 PM)
GOLD up $10.10 to US$1116.70 an ounce SILVER up 11.5 US cent to US$17.38 an ounce COPPER up 2.5c at US$2.9725 a pound
