Thursday Papers: US recovery hopes grow -- other news

 * Dow advances 169 points, S&P rises 18 points and Nasdaq gains 20 points

 * US GDP tumbles in first-quarter much more than expected, down 6.1% vs consensus down 4.6%

 * US growth report confirms private consumption increased 2.2% in the first quarter after falling at an annualised rate of roughly 4% in both the third and fourth quarters of 2008

 * US real final sales down 3.4% in first-quarter; PCE price index down 1%

 * The US Federal Reserve kept rating policy unchanged and noted that the 'economic outlook has improved modestly since the march meeting'

 * UK consumer confidence at highest levels since start of crisis after third successive rise

 * German economy to shrink 6% this year

 * Japanese output shows surprise gain with Bank of Japan likely to hold fire on monetary policy

 * Alistair Darling says there is evidence that people are reducing debt levels

 * Bank of America's 18 directors all re-elected by comfortable margin; Ken Lewis loses role as chairman but remains company president and chief executive