US shares surge to four-year high

The Dow Jones Industrial Average closed at a four-year high last night as investors flock to US stocks amid the resurgence in the country's economy.

The US index closed at its highest level since December 2007 after data showed US manufacturing was stronger than expected in April. The Institute for Supply Management (ISM) said its index of manufacturing activity rose to 54.8 last month from 53.4 in March. A figure above 50 indicates expansion. In reaction the Dow rose 66 points to finish the session at 13,279, its highest level since 28 December 2007. The index has been rising steadily since sinking below the 7,000 mark at the beginning of 2009, and broke back above 13,000 in February this year. The Nasdaq and the Standar...