Wall Street is again leading the recovery in international markets, with the Dow Jones index climbing 227.40 points last night to close at 7,669.48. Earlier, European shares racked up strong gains after a recovery in Hong Kong and another jump on Wall Street got the better of lingering concerns about the stamina of the prolonged bull market.

After a volatile week, buyers returned with their nerves frayed but with some vigour restored by a 6 per cent leap in Hong Kong's Hang Seng index. In Dublin, the ISEQ index of Irish shares closed 27.14 points higher at 3,700.75

Trade in Europe was jittery from the start and volume light, but the markets got a second wind when it became clear that Wall Street was moving ahead. In London, the FTSE 100 climbed up to a high of 4,944.6 points before closing at 4,906.4, a gain of 64.1 points The DAX index of German shares rose 3.42 per cent or 127.38 points to close at 3,854.07.