Around the World's Markets: New York

NEW YORK shares drifted upwards, as higher than expected holiday sales in the US compensated for a fall in Internet stocks. In early afternoon trading, the Dow Jones rose 0.3 per cent to 9,256, while the Nasdaq fell 0.25 per cent to 2,174.

Amazon.com, the online bookseller, fell 3.5 per cent, and Charles Schwab, the on-line brokerage, dropped 5.5 per cent as investors took profits after Monday's surge in Internet stocks.