International markets roundup
Market watch top headlines
A roundup of trading on major world markets:
NEW YORK - US shares rebounded in opening trade after the previous day's sharp correction, but Dell sank 2.6 per cent after the company announced a plan to take itself private and de-list from the Nasdaq.
Five minutes into trade, the Dow Jones Industrial Average added 75.55 points (0.54 per cent) to 13,955.63.
The S&P 500 index gained 9.28 (0.62 per cent) to 1504.99, while the tech-rich Nasdaq Composite picked up 10.44 points (0.33 per cent) to 3141.61.
LONDON - Europe's main stock markets staged a modest recovery as investors went bargain hunting for shares that had slumped sharply the previous day on political uncertainty in Italy and Spain, dealers say.
The euro climbed to $1.3562 meanwhile, from $1.3514 late on Monday with traders shrugging off a call by French President Francois Hollande that markets alone should not be in control of exchange rates.
London's FTSE 100 index of top companies closed with a gain of 0.58 per cent to 6282.76 points. Frankfurt's DAX added 0.35 per cent to 7664.66 points and in Paris the CAC gained 0.95 per cent to 3694.70.
Madrid's IBEX 35 rallied 2.20 per cent to trade at 8093.60 points however, while Milan's FTSEMIB jumped 1.05 per cent to 16,712.
HONG KONG - An Asian rally was brought to a juddering halt by political concerns in Spain and Italy.
Tokyo shares dived 1.9 per cent, or 213.43 points, to 11,046.92, while Seoul slipped 0.77 per cent, or 15.03 points, to 1,938.18 and Sydney shed 0.51 per cent, or 24.8 points, to 4,882.7. Hong Kong tumbled 2.27 per cent, or 536.48 points, to 23,148.53.
Shanghai reversed morning losses and ended up 0.2 per cent, or 4.98 points, at 2,433.13 after the Chinese central bank injected a huge amount of cash into the market to satisfy pre-Lunar New Year holiday demand from traders.
WELLINGTON - The NZX 50 Index fell 34.455 points, or 0.8 per cent to 4211.946.