U.S. Stock indexes shook off an anemic trading start Thursday to post modest gains at midday amid mixed economic data and a climb in oil prices.

The Dow Jones industrials gained 25.96 or 0.19 percent to 13,315.14 in early afternoon trading. The Nasdaq composite was up 4.67 or 0.18 percent to 2,667.58. The S&P 500 gained 1.88 or 0.13 percent to 1,470.90.

Oil prices rose $1.92 to $92.54 a barrel after plunging Wednesday and rebounding on early electronic trading.

The advance was triggered by news of a fire erupting at a pipeline carrying crude oil from Canada to the U.S. Midwest. Prices eased around midmorning when the pipeline was partially reopened.

Bonds rallied with the 10-year Treasury note adding 23/32 to yield 3.94 percent Thursday.

The dollar was mixed. The euro traded at $1.4752 from $1.4828 late Wednesday, while the dollar was at 109.881 yen from 110.06 yen.

Overseas, Tokyo's Nikkei 225 closed up 2.38 percent at 15,513.74 and London's FTSE 100 traded flat at 6,306.20.  // Copyright 2007 by United Press International




Publication date: 29 November 2007   

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