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N.Y. stocks rally as eurozone fears retreat.

NEW YORK, Dec. 20 Kyodo

New York stocks rallied Tuesday, with the Dow index recovering to the 12,000 mark for the first time in about a week, as fears about the eurozone debt crisis eased.

The 30-issue Dow Jones Industrial Average, which dropped 100.13 points Monday, surged 337.32 points, or 2.87 percent, to end at 12,103.58. The technology-heavy Nasdaq Composite Index, which shed 32.19 points the previous day, jumped 80.59 points, or 3.19 percent, to 2,603.73.

Stocks drew across-the-board buying following Spain's successful government bond auction and the release of better business confidence data in Germany, market analysts said.

Investor sentiment also improved on a bigger-than-expected jump in U.S. housing starts for November, the analysts said.
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Publication:Japan Weekly Monitor
Geographic Code:1U2NY
Date:Dec 27, 2011
Words:128
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