Wall Street shares surged higher today, as investors appeared to shake off a Citigroup profit warning tied to the subprime mortgage crisis.
The Dow Jones was up 99 points (0.71%) to 13,994 as European shares closed, and the Nasdaq advanced 17 points (0.66%) to 2,719.
A warning by Citigroup, the largest US financial group by market value, appeared to have little impact on sentiment. The bank said it sees third-quarter profit down 60% compared with a year earlier due in part to failed mortgage investments.
Meanwhile, European shares closed higher, helped by the gains on Wall Street and after US data showed manufacturing activity slowed in September, bolstering the case for another rate cut.
London closed up 0.61% at 6,506 points, though shares in beleaguered bank Northern Rock closed down another 26% at 132 pence.
In Paris, the CAC 40 gained 1% to finish at 5,773 while in Frankfurt the Dax rose 0.77% to 7,922.
The ISEQ in Dublin closed up 100 points at 7983 with Independent News and Media up ten cent at €2.71, Anglo was down 25 cent at €13.01 and Fyffes was up four cent at 95 cent. Shares in ICG were down 25 cent at €25.50.
It emerged today that property developer Liam Carroll now has a 25.3% in Irish Continental Group (ICG) after buying more shares on Friday.
A statement to the Irish stock exchange said that Mr Carroll bought 128,000 shares in ICG for €25.75 each.
Japanese share price ended mixed on Monday, with the benchmark Nikkei index posting modest gains after a better than expected central bank survey of business confidence, though gains were capped by worries about the impact of a stronger yen on exporter earnings.
The Tokyo Stock Exchange's benchmark Nikkei-225 index of leading shares closed up 60 points or 0.36% at 16,845.
