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Monday 12 April 1999 23:02 BST

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STOCKS rose to record levels on optimism for corporate profits amid low interest rates and tame inflation, shrugging off Friday's earnings warning from Compaq.

American Express led the Dow above 10,300 for the first time; it rose 165.67 points, or 1.6 per cent, to 10,339.51, rebounding from a 77-point drop. The S&P 500 climbed 0.8 per cent to a record 1,358.64. Even the hi-tech Nasdaq Composite gained 0.2 per cent to a record 2,598.74 after falling 66 points.

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