World Stocks Pause After Dow Hits 2009 High

PAN PYLAS

LONDON (AP) — European and U.S. stock markets took a breather Tuesday after a big rally in the previous session had pushed the Dow Jones industrial average to its highest level this year.

Analysts said it was unsurprising trading was subdued after Monday's big gains, when sentiment was buoyed by the weekend pledge from the Group of 20 rich and developing countries to maintain stimulus measures as long as economies remained weak.

In Europe, the FTSE 100 index of leading British shares was up only 0.62 of a point at 5,235.80 while Germany's DAX rose 11.35 points, or 0.2 percent, to 5,631.07. The CAC-40 in France was 5.38 points, or 0.1 percent, lower at 3,780.11.

On Wall Street, the Dow was down 3.4 points at 10,223.54 soon after the open while the broader Standard & Poor's 500 index fell 0.89 point, or 0.1 percent, to 1,092.19.

On Monday, U.S. stocks closed around 2 percent higher in the wake of the G-20 statement, with the Dow closing at 10,226.94, its best finish this year.