Markets close with slight gains

Nov. 19, 2010 at 4:30 PM
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NEW YORK, Nov. 19 (UPI) -- U.S. markets closed slightly higher Friday after the People's Bank of China tightened its monetary policy for the second time in two weeks.

China raised its reserve requirement ratio 50 basis points to slow inflation, The Wall Street Journal reported. The move will reduce the availability of loans by forcing banks to keep more capital in reserve.

By close of trading on Wall Street, the Dow Jones industrial average added 22.32 points, 0.2 percent, to 11,203.55. The Standard & Poor's 500 index added 0.25 percent, 3.04, to 1,199.73. The Nasdaq composite index rose 0.15 percent, 3.72, to 2,518.12.

On the New York Stock Exchange, 1,754 stocks advanced and 1,226 declined on a volume of 4 billion shares traded.

The benchmark 10-year treasury note rose 7/32 to yield 2.875 percent.

The euro rose to $1.3686 from Thursday's $1.3628. Against the yen, the dollar fell to 83.45 yen from Thursday's 83.51 yen.

In Japan, the Nikkei 225 index added 0.09 percent, 8.76, to 10,022.39.

In Britain, the FTSE 100 index lost 0.62 percent, 35.88, to 5,732.83.

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