Stocks: Thursday's review
Nikkei 225 +18.83 +0.19% 9,816.09
FTSE 100 +89.76 +1.53% 5,945.71
CAC 40 +57.98 +1.48% 3,982.21
DAX +82.10 +1.13% 7,376.24
Dow +152.39 +1.24% 12,413.81
Nasdaq +33.03 +1.21% 2,773.52
S&P 500 +13.17 +1.01% 1,320.58
Oil $95.13 -0.29 -0.30%
Gold $1,502.10 -0.70 -0.05%
Japanese stocks rose for a third day after Greece passed austerity measures needed to secure aid from the European Union, and as utilities advanced on expectations they’ll be allowed to restart nuclear plants.
Sony Corp. gained 3%.
Kyushu Electric Power Co. and other utilities advanced after Kyodo News said a local government has agreed to the restart of halted reactors.
Mitsubishi UFJ Financial Group Inc. climbed 2.1% after Deutsche Bank AG raised its rating on the sector.
European stocks rose, posting the biggest two-day gain for the Stoxx Europe 600 Index in almost seven months, as Greek lawmakers approved a bill authorizing austerity measures, qualifying the country for further aid.
London Stock Exchange Group Plc (LSE) jumped 11% after scrapping its bid for TMX Group Inc. and UBS AG said the bourse may now be a bid target.
Lloyds Banking Group Plc (LLOY) surged 9.7% after the U.K.’s biggest mortgage lender said it will make savings of 1.5 billion pounds ($2.4 billion) by 2014.
Greek Prime Minister George Papandreou won a second ballot to execute measures ranging from tax increases to asset sales today after he clinched victory on a bill setting out his strategy to cut the deficit yesterday. A total of 155 lawmakers in the 300-seat parliament supported the law.
U.S. stocks rallied, giving the Standard & Poor’s 500 Index its biggest four-day gain since December, amid increased optimism Greece will avoid default and after American business activity improved.
Industrial, technology and raw material companies led gains in the S&P 500, rising at least 0.9%, as investors bought stocks tied to economic growth.
Caterpillar Inc. (CAT), United Technologies Corp. (UTX) and 3M Co. (MMM) climbed at least 1.8% to help the Dow Jones Industrial Average erase its quarterly loss.
Hewlett-Packard Co. (HPQ) added 3.1% after a report that private-equity firms want the computer maker to split up.
Stocks extended gains after the Institute for Supply Management-Chicago Inc. said its business barometer climbed to 61.1 this month from 56.6 in May. Economists called for the index to drop to 54.
Consumer confidence rose to the highest level in 10 weeks, the Bloomberg Consumer Comfort Index showed.