Standard and Poor's 500 Index jumped 2.98%
or 35.95 points on Tuesday and closed at 1,241.30 led by banks, network companies
and constructing companies. Recovery in US markets was fuelled by higher-than-expected
housing starts, improved German business confidence and successful Spanish bond
auction.US benchmark had the best day since November 30 and narrowed its annual
loss to 1.3% as all 10 industries within the index appreciated. Morgan Stanley
added 4.52%, Citigroup Inc. climbed 4.55% while J P Morgan Chase & Co
gained 4.92%. First Solar advanced 7.80% and Cabot Oil & Gas Corp.
surged 7.04%.