US STOCKS-Wall St up on China, ECB stimuli but off highs

viernes 21 de noviembre de 2014 12:59 GYT

* Mining shares jump on China bets

* Energy sector up but loses steam as Brent cuts gains

* Indexes up: Dow 0.62 pct, S&P 500 0.56 pct, Nasdaq 0.44 pct (Updates to midday)

By Rodrigo Campos

NEW YORK, Nov 21 (Reuters) - U.S. stocks rose on Friday, setting up a fifth consecutive week of gains on Wall Street, after China's central bank cut its benchmark interest rate and its euro zone peer announced asset purchases in efforts to boost each region's economy.

The broad move higher lost some steam in late morning trading with fewer than four NYSE stocks rising for each one falling. Earlier, the ratio was almost seven-to-one.

The People's Bank of China said it was cutting one-year benchmark lending rates for the first time in more than two years.

The move came after European Central Bank head Mario Draghi said "excessively low" inflation had to be raised quickly by whatever means necessary, rekindling expectations the ECB will move to stimulate the euro zone economy.

The ECB said it started buying asset-backed securities to encourage banks to lend and revive the economy.   Continuación...