Wall Street closes higher after Greece passes latest austerity plan

Feb 13, 2012, 22:30 GMT

Washington - Major US stock indices closer higher Monday after the Greek Parliament passed a new round of austerity measures, which was a condition for bailout money to keep the Athens government from a looming March default.

Olli Rehn, European economic and monetary affairs commissioner, said Monday that the vote on Sunday by Greek lawmakers was 'an expression of the determination prevailing in the country to put an end to the spiral of unsustainable public finances and to the loss of competitiveness.'

Wall Street followed global stock markets higher.

The blue-chip Dow Jones Industrial Average rose 72.81 points, or 0.57 per cent, to 12,874.04. The broader Standard & Poor's 500 Index gained 0.68 per cent to 1,351.77. The technology-heavy Nasdaq added 0.95 per cent to 2,931.39.

The US currency edged up against the euro to 75.81 euro cents from 75.77 euro cents on Friday. The dollar dipped against the Japanese currency to 77.57 yen from 77.61 yen.