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Calm returns to global exchanges Calm returns to global exchanges
(30 minutes later)
Calm has returned to global markets, with European shares higher in afternoon trading after earlier gains in Asia and overnight on Wall Street. Calm has returned to global markets, with US shares opening strongly, echoing similar gains in Europe and earlier in the day in Asia.
Despite continuing concerns over the US economy, confidence has returned following strong results from Apple. Despite continuing concerns over the US economy, stocks rose after computer firm Apple reported a 67% rise in quarterly profits late on Monday.
The computer firm posted a 67% rise in quarterly profit on Monday. Wall Street's main Dow Jones index was up 65 points, or 0.5%, at 13,632 in early Tuesday trading in New York.
London's main FTSE 100 index had risen 99 points or 1.5% to 6,558 by mid afternoon, while Frankfurt's Dax was up 0.9% and Paris' Cac had added 1.2%. In London, the UK's FTSE 100 had added 86 points, or 1.3%, to 6,545.
Caterpillar warningCaterpillar warning
Elsewhere in Europe, Frankfurt's Dax and Paris's Cac were both up 0.9%.
There were also gains on the two other main US indexes, with the Nasdaq adding 22 points, or 0.8%, to 2,775, and the Standard & Poor's 500 rising 8 points, or 0.5%, to 1,514.
Tokyo's Nikkei index had earlier closed up 12 points at 16,451, with analysts saying Japanese shares were also benefiting from the yen falling against the dollar.Tokyo's Nikkei index had earlier closed up 12 points at 16,451, with analysts saying Japanese shares were also benefiting from the yen falling against the dollar.
New York's main Dow Jones index finished Monday in New York up 45 points to 13,567, on optimism about Apple's results before they were released following the close of trading. On Monday. the Dow Jones index had finished up 45 points at 13,567, on optimism about Apple's results before they were released following the close of trading.
Markets had fallen sharply on Monday and Friday, after US heavy machinery group Caterpillar said it expected the US economy would be "near to, or even in, recession" next year.Markets had fallen sharply on Monday and Friday, after US heavy machinery group Caterpillar said it expected the US economy would be "near to, or even in, recession" next year.