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04 May 05: US Stocks Higher at Close


U.S. stock market indexes closed higher Wednesday, bolstered by a report that a billionaire offered to sharply increase his stake in troubled auto maker General Motors.

Kirk Kerkorian is offering nearly 870-million dollars for a five percent share of the struggling U.S. automaker.

At the close, the Dow Jones Industrial Average moved up 128 points to 10,385. The S & P 500 gained 14 points to 1176, while the NASDAQ rose 29 points to reach 1962.

European markets closed higher. London's Financial Times index gained 21 to close at 4,882. The DAX index in Frankfurt was up 18 at 4,264 and the CAC 40 in Paris rose 31 points to close at 3,987.

The price of gold is up one dollar 50 cents, trading at 429 dollars and 40 cents an ounce.

The U.S. dollar is trading lower against the euro and the yen.

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