Wall St gains 1 percent on Europe optimism

September 14, 2011 2:35 PM EDT

Stocks rose more than 1 percent on Wednesday after France and Germany urged Greece to implement austerity reforms to ease the euro zone debt crisis.

German and French leaders called on Greece to implement all reforms "strictly and effectively," a German government spokesman said.

The Dow Jones industrial average <.DJI> was up 160.98 points, or 1.45 percent, at 11,266.83. The Standard & Poor's 500 Index <.SPX> was up 16.36 points, or 1.39 percent, at 1,189.23. The Nasdaq Composite Index <.IXIC> was up 38.48 points, or 1.52 percent, at 2,570.63.

(Reporting by Caroline Valetkevitch; Editing by Kenneth Barry)

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