The FTSEurofirst 300 closed 0.8 percent higher at 1,069.03 points.  The Dow Jones industrial average surged 115.78 points, to end at 10,725.43. The Standard & Poor’s 500 Index rose up 14.20 points, to 1,150.23. The Nasdaq Composite Index climbed 32.41 points, to 2,320.40. The benchmark Nikkei fell 27.38 points to 10,737.52. The Topix dropped 0.5 percent to 944.72.

Yesterday, an industry trade group reported, that home foreclosures and concerns over a poor job market added to the depressed confidence of US house builders in early January. In December, the home builders’ sentiment index declined to 15. Construction output in Europe fell to its lowest level for a decade and investor confidence in Germany was weaker than expected, confirming that the Eurozone’s economy still remains at risk.

Due for release today is the GBP MPC Meeting Minutes, GBP Average Earnings Index, CAD Core CPI m/m, USD Building Permits, PPI m/m and NZD Retail Sales m/m.

By Greg Secker

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