Global stock markets surge ahead
03-01-2009
World stock markets have rallied strongly on the first trading day of 2009 as New Year's optimism more than offset grim economic news from around the globe. London's FTSE 100 closed up almost 128-points, or 2.9 percent, while Germany's DAX was 163-points, or 3.4 percent, higher. France's CAC-40 rose 132-points, or 4.1 percent. The surge followed through into the US where the Dow Jones industrial average was up 146-points, or 1.7 percent, while the broader Standard & Poor's 500 index rose 1.6 percent. Earlier, Hong Kong's Hang Seng Index led the Asian markets higher, vaulting 655-points, or 4.6 percent, to 15,043. South Korea's Kospi added 2.9 percent, Singapore rose 3.9 percent, while Mumbai's Sensex traded 0.6 percent higher.
