Wednesday, November 25, 2009

World stocks buoyed by Fed but dollar slides

World stock markets rose Wednesday after the U.S. Federal Reserve indicated that interest rates will remain at super-low levels for a while yet. Meanwhile, the dollar slid to a ten-month low against the yen after the central bank said the currency's decline had been "orderly."

In Europe, the FTSE 100 index of leading British shares was up 28.89 points, or 0.5 percent, at 5,352.85 while Germany's DAX rose 29.89 points, or 0.5 percent, to 5,799.20. The CAC-40 in France was 24.87 points, or 0.7 percent, higher at 3,809.49.

Earlier, Japan's Nikkei 225 stock average advanced 40.06, or 0.4 percent, to 9,441.64 — its first rise in five days. And China's Shanghai benchmark rebounded from a big retreat the day before, closing up 66.64 points, or 2.1 percent, at 3,290.17.

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