Wall Street Surge Lifts World Stocks Off 22-Month Low

(From Reuters)

World stocks bounced off a near two-year low on Thursday, lifted by a dramatic Wall Street surge, though a fall in Chinese industrial profits and renewed Italian banking worries offered a sobering reminder of the problems weighing on the world economy.

The Dow Jones Industrial Average surged more than 1,000 points for the first time on Wednesday, leading a broad Wall Street rebound, after a report that holiday sales were the strongest in years helped mollify concerns about the health of the economy.

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