Markets Enjoy Heavy Trading Gains

By Stewart Douglas

Worldwide stock markets have enjoyed heavy gains on the day’s trade, seeing significant growth off the back of OPEC’s surprise increase in oil output and news of a reduction in the US trade deficit.

The Dow Jones led the way with enormous successes in response to positive news about both the US economy, and indeed world stability.  With oil prices set to fall in the wake of increased supply, economic growth looks set to receive an injection, despite the fact that oil prices closed at a record high today.

The Dow Jones gained a substantial 180.54 points through trading today, coming to rest at 13308.4, gaining back ground on last week and building on the small momentum carried over from yesterday.

The Dow’s sister US exchange, the NASDAQ, also enjoyed proportionally strong growth, up by 38.36 points to close the index at 2597.5.

Despite a cut in Eurozone growth rates for the rest of 2007, markets in Europe still traded strongly, largely spurred by the US and the easening oil situation after today’s OPEC announcement.

In Paris, the French CAC 40 exchange closed at 5478.9, up 92.51 points over the course of the day’s trade.  Meanwhile, the German DAX exchange in Frankfurt was up by 82.46 points on the day to 7457.9.

In London, the FTSE 100 exchange was quite possibly the biggest winner of the day, gaining 146.60 points by the bell.  By the end of trade today, the FTSE 100 was closed at 6280.7, seeing strong growth on the day.

Analysts are predicting growth to remain strong over the start of trade tomorrow, with markets opening to further early gains.  With oil prices set to eventually fall, and the US economy apparently back on track, much of the market worries have been calmed for the time being.