NEW YORK - Wall Street scored a moderate gain after a volatile session on Wednesday that saw the major indices ratchet up and down on the price of oil and mixed feelings about the financial sector.
The Dow Jones industrial average rose 68.88 points, or 0.61 per cent, to 11,417.43.
The Standard & Poor’s 500 index rose 7.85, or 0.62 per cent, to 1,274.54, while the Nasdaq composite index rose 4.72, or 0.20 per cent, to 2,389.08.
LONDON - European markets closed mostly higher on Wednesday, while cautious over trends on Wall Street.
The FTSE 100 index was up 51.4 points, or 0.97 per cent, to 5,371.80 points.
FRANKFURT - The DAX put on 35.37 points, or 0.56 per cent, at 6,317.80 points.
PARIS - The CAC 40 added 33.08 points, or 0.76 per cent, to 4,365.87 points.
TOKYO - The benchmark Nikkei-225 index dropped 13.36 points to end at 12,851.69.
HONG KONG - Hong Kong shares closed 2.18 per cent up Wednesday, tracking a surge in mainland Chinese stocks ignited by reports that Beijing will soon unveil measures to shore up its economy, dealers said.
The benchmark Hang Seng Index rose 446.89 points, or 2.18 per cent, to 20,931.26. Turnover was 62.33 billion Hong Kong dollars ($A9.17 billion).
WELLINGTON - Telecom shares slipped to a 15-year low today, but along with the market as a whole the company managed to claw back early losses to end ahead.
The benchmark NZSX-50 closed up 12.91 points at 3332.02.
SYDNEY - The Australian stock market is expected to open higher today after US stocks had a moderate gain overnight.
At 0659 AEST, the Sydney Futures Exchange’s September share price index futures contract was up 37 points at 4,919.
In news today, the Reserve bank of Australia (RBA) will release its monthly bulletin and Australian Bureau of Statistics will issue new motor vehicles sales data from July.
Annual results are due from Amcor, Qantas, Fairfax Media, Healthscope, Sonic Healthcare, Downer EDI, OZ Minerals, Wesfarmers, Lend Lease, Challenger Infrastructure Fund, Wridgways, PaperlinX, Clough Resources, Auckland International Airport, Cabcharge, and Macquarie Office Trust.
Interim results are due from QBE Insurance, Babcock and Brown, Santos, Iluka Resources, Thakral Holdings, and Adelaide Brighton Ltd.
AWB Ltd will hold a shareholders meeting for A Class shareholders.
Yesterday, the Australian share market closed firmly in the black after a stronger commodity prices drove resources sector higher, helping to overcome a negative lead from Wall Street.
The benchmark S&P/ASX200 was up 63.1 points, or 1.3 per cent at 4,929.5, while the broader All Ordinaries gained 67.1 points, or 1.36 per cent, to 4,997.5.
NYMEX
Oil prices rose on Wednesday after a sharp spike the previous day as traders nervously mulled a larger-than-expected decline in US gasoline stocks.
Prices closed higher in edgy trade, wiping out declines experienced earlier in the day, as traders assessed a weekly US inventory report for clues on energy demand.
Crude oil for September delivery rose $US0.45, or 0.4 per cent, to settle at $US114.98 a barrel. Futures are down 22 per cent from a record $US147.27 on July 11.
Prices are up 62 per cent from a year ago.
The price action occured after the US Department of Energy said reported that US crude oil stockpiles climbed 9.4 million barrels in the week ending August 15.
Analysts had forecast a much smaller gain of 800,000 barrels.
In London, Brent North Sea crude for October delivery climbed $US0.45 to settle up at $US114.36.
COMEX
Gold futures for December delivery lost $US0.50 to $816.30 an ounce on the Comex division of the New York Mercantile Exchange.
Silver for September delivery fell 0.065 of a cent to settle at $13.04 on the Nymex while September copper shed 3.15 cents to settle at $3.397 a pound.
