3pm Markets Update

Updated: Monday 30 March 2015 15.16

US stocks rallied by more than 1% in early trade, with biotech stocks among the most active names amid a number of major deals in the space.

In New York the Dow Jones was 271 points (1.5%) higher by early morning, standing at 17,984. The Nasdaq was up by 39 points (0.8%), meanwhile, at 4,931.

In London the FTSE was 37 points (0.5%) higher at 6,892 by 3pm. The DAX in Frankfurt was trading 203 points (1.7%) higher at 12,094, while the CAC in Paris was up by 51 points (1%) at 5,085.

Meanwhile in Dublin the ISEQ was trading 53 points (0.9%) higher at 6,059 by mid-afternoon.

Shares in Dragon Oil were 4.7% higher at €8.07, while shares in Ryanair were up by 3.3% at €10.90. Shares in Green REIT were down 2.1% to €1.60, while shares in CRH were 0.9% lower at €24.15.

Overnight in Asia, stocks closed higher as investors bet that more infrastructure spending and policy stimulus will re-energise China's cooling economy.

In Hong Kong the Hang Seng posted its biggest daily gain in more than two months, rising by 408 points (3.4%) to end on 12,306. In Tokyo the Nikkei was up 126 points (0.6%) to 19,411.