Stocks Firmly in Green on Europe Reports

Stocks have risen sharply in late trading and are now firmly in green. Stocks rose after reports from Europe that China, the world’s fastest growing major economy will step in to help Europe by buying bonds.

Reports of China’s participation in the rescue plan first came out in the afternoon. Agence France-Presse reported that the world’s second largest economy agreed to invest in the European Financial Stability Facility. There have already been reports earlier that China may help the struggling euro zone economies through the International Monetary Fund. Earlier in the day, the German parliament approved increasing the power of the euro zone rescue fund. Investors are hoping that European leaders will come up with a concrete plan by the end of today’s meeting in Brussels.

Following the reports, all three major indexes have risen sharply and are headed for a strong finish. At last check, the Dow Jones was trading 1.52% higher at 11,885.08, the S&P 500 was trading 1.32% higher at 1,245.26, and the Nasdaq was trading 0.74% higher at 2,658.01.

Cheniere Energy Inc. (AMEX: LNG) shares have been among the major gainers in trading today. The stock is rising after the energy company signed an agreement with BG to export U.S. LNG. At last check, Cheniere Energy shares were trading 71.08% higher at $10.47.

Other major gainers in late trading include Panera Bread Company (NASDAQ: PNRA), which is currently trading 15.87% higher at $134.09, Boeing Company (NYSE: BA), which is currently trading 4.94% higher at $66.87, Biogen Idec Inc. (NASDAQ: BIIB), which is currently trading 10% higher at $117.56, and Valero Energy Corporation (NYSE: VLO), which is currently trading 15.77% higher at $25.28.

Among the major losers in late trading are MF Global Holdings Ltd. (NYSE: MF), which is currently trading 5.91% lower at $1.75, and Amazon.com Inc. (NASDAQ: AMZN), which is currently trading 13.25% lower at $197.06.

Post Written By: Ed Liston Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.