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Saturday 08 May 1999 00:02 BST

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WALL STREET rose, sending the

Dow Jones to a record level, after a government report showed that wages rose less than expected during April, news that came a day after Federal Reserve Chairman Alan Greenspan said labour shortages could lead to faster inflation and higher interest rates.

The Dow average rose 84.77, or 0.8 per cent, to 11,031.59, with IBM contributing most to the gain.

The Nasdaq Composite Index, packed with computer stocks, climbed 31.33, or 1.3 per cent, to 2,503.61.

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