Financial stocks lead US market upswing
By DPA, IANSMonday, October 18, 2010
WASHINGTON - Financial shares boosted the major US market indices Monday, leading the S&P 500 to a five-month high.
Citigroup, which is 12 percent owned by US taxpayers, rallied 5.4 percent after its earnings topped estimates.
The blue-chip Dow Jones gained 80.91 points, or 0.73 percent, to close at 11,143.69. The Standard and Poor’s 500 Index added 8.52 points, or 0.72 percent, to 1,184.71. The high-tech NASDAQ index climbed 11.89 points, or 0.48 percent, to 2,480.66.
The US currency rose against the euro to 71.77 from 71.57 euro cents Friday. It fell against the Japanese currency to 81.21 from 81.45 yen.
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