Dow hits highest level since 2008

Feb 7, 2012, 23:26 GMT

Washington - The Dow Jones Industrial Average rose Tuesday to its highest level since 2008, amid hope that Greece would agree to additional austerity measures.

Investors were hopeful for a Greek deal, even as a meeting between Prime Minister Lucas Papademos and coalition party leaders to attempt to reach a long-delayed agreement on painful cutbacks demanded by international creditors was postponed until Wednesday.

The blue-chip Dow Jones Industrial Average gained 33.07 points, or 0.26 per cent, to 12,878.2. The broader Standard & Poor's 500 Index added 2.72 points, or 0.2 per cent, to 1,347.05. The technology-heavy Nasdaq rose 2.09 points, or 0.07 per cent, to 2,904.08.

The US currency dipped against the euro to 75.41 euro cents from 76.16 cents on Monday. The dollar was up against the Japanese currency to 76.78 yen from 76.55 yen.