Around the World's Markets: New York

US STOCKS shrugged off a bout of early profit-taking to build on Wednesday's record close. By midday the Dow had broken through 10,100, up 28 points at 10,113. The Nasdaq Composite was six points higher at 2,550.

Analysts were cheered by first-quarter results from GE - in line with expectations - and a better-than-expected first quarter from Internet company Yahoo!. Stocks rose further on the surprise decision by the European Central Bank to cut euro interest rates by half a point to 2.5 per cent.