AMSTERDAM (AP) The U.S. Dow Jones Industrial Index broke its all-time record Tuesday and around the world stocks rose strongly, following better-than-expected economic data in Europe and the United States and a pledge from China, the world’s second largest economy, that it would meet ambitious growth targets.
On Wall Street, the Dow rose 1.1 percent at 14,283.80, passing all-time highs set in October 2007. The S&P 500 advanced 1.1 percent to 1,541.28.
In Germany, the DAX rose up 2.2 percent to 7,852.19, while France’s CAC-40 was 1.9 percent higher at 3,779.76. Britain’s FTSE 100 rose 1.3 percent to 6,426.67.
Earlier in Asia, Hong Kong’s Hang Seng rose 0.1 percent to 22,560.50. The mainland’s Shanghai Composite Index jumped 2.3 percent to 2,326.31 and the Shenzhen Composite Index added 2.3 percent to 964.68 after Wen’s pledge to support growth.
The day’s rally started in China, at the ruling Communist Party’s annual congress. Outgoing Premier Wen Jiabao told members that the government would take steps to support an economic growth target of 7.5 percent enshrined in its latest five-year development plan.
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