Sat, 23 Jan 2021

Stocks in U.S. and Europe make solid gains Monday

Lola Evans
30 Jun 2020, 09:37 GMT+10

NEW YORK, New York - Sold gains on Wall Street and in Europe on Monday came as a surprise, following last week's week-end sell-off which extended into Asia on Monday.

Nonetheless U.S. and European investors dismissed concerns about the surging coronavirus and waded back into the market.

"For all the up, for all the down, volatility isn't going anywhere," Willie Delwiche, investment strategist at Baird in Milwaukee was quoted as saying by Reuters Thomson on Monday. "Maybe that is the lesson of June, these one-day moves seem impressive but you string 20 of them together and you've got nothing."

The best performer on Monday was Boeing, whose shares accelerated by 14% following a successful FAA certification test of its 737 MAX in Seattle.

At the close of trading Monday the Dow Jones Industrial Average was ahead 580.25 points, or 2.32%, at 25,595.80.

The Standard and Poor's 500 rose 44.19 points, or 1.47%, to 3,053.24.

The Nasdaq Composite gained 116.93 points, or 1.20%, to 9,874.15.

The U.S. dollar regained losses it incurred in the Asian session Monday. The euro around the New York close Monday was being quoted lower at 1.1246.

The British pound fell to 1.2307. The Japanese yen weakened to 107.59. The Swiss franc fell to 0.9511.

The Canadian dollar was a touch stronger at 1.3657, but the Australian and New Zealand dollars were a fraction weaker at 0.6872 and 0.6426 respectively.

In Europe, the Paris-based CAC 40 climbed 0.73%, while the German Dax advanced 1.18%.

In London the FTSE 100 rose 1.08%.

On Asian markets, the Nikkei 225 was down 517.04 points or 2.30% at 21,995.64.

The Australian All Ordinaries fell 96.20 points or 1.60% to 5,915.60.

China's Shanghai Composite dropped 18.03 points or 0.61% to 2,961.52.

In Hong Kong, the Hang Seng shed 248.71 points or 1.01% to 24,301.28.

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