The FTSEurofirst 300 index closed up 1.3% at 1,015.10 points. The Dow Jones industrial average gained 0.39% to close at 10,309.24. The Standard & Poor’s 500 Index gained 0.42%, to close at 1,099.51. The Nasdaq Composite Index added 0.55%, to close at 2,226.29. The Nikkei jumped 28.86 points to 10,335.69. Yesterday, Spain drew a large demand for government bond issues. Analysts have discussed the possibility of a successful Spanish sale providing an opportunity for the Greek government to launch a 10-year bond. The Federal Reserve has upgraded its prediction this year’s growth from 3 to 3.2%, which shows the Fed is slightly more bullish about the state of the US economy. Yesterday, the minutes of the January policy meeting also displayed that unemployment was expected to drop in the last quarter of 2010. Yesterday, spot gold hit a one-month peak at $1,126.85 an ounce. This was its highest level since 20 January. Due for release today is the JPY BOJ Press Conference, CAD Core CPI m/m, USD PPI m/m, USD Unemployment Claims, USD Philly Fed Manufacturing Index and AUD RBA Gov Stevens Speaks.

By Greg Secker

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