Stock Prices Rise for Third Straight Day

Sep 28, 2011, 12:43 by R.E. Christian

Stocks were buoyed Tuesday in New York by promises from European leaders the crisis in Greece could be contained.

German Chancellor Angela Merkel and Greek Prime Minister George Papandreou both speaking to a group of German business leaders reiterated pledges to keep Greece from falling into default.

Merkel said Germany would back the solution with all the financial power it could muster and Papandreou said Greece would hit all the financial targets it needed to to qualify for further international aid.

Stocks rose across Asia and Europe, following gains Monday on Wall Street.

By close of trading Tuesday -- the third straight session of gains -- the Dow Jones industrial average added 146.83 points or 1.33 percent to 11,190.69. The Standard & Poor's 500 index gained 12.43 points or 1.07 percent to 1,175.38. The Nasdaq composite index added 30.14 points or 1.2 percent to 2.546.83.

On the New York Stock Exchange, 2,510 stocks advanced and 574 declined on a volume of 4.8 billion shares traded.

The 10-year benchmark treasury note fell 24/32 to yield 1.987 percent.

The euro rose to $1.3585 from Monday's $1.3532. Against the yen, the dollar rose to 76.91 yen from Monday's 76.37 yen.

In Tokyo, the Nikkei 225 index added 2.82 percent, 235.82, to 8,609.95.

In London, the FTSE 100 index gained 4.02 percent, 204.68, to 5,294.05.

Source: UPI