U.S. stocks have turned mostly higher in midday trading amid optimism the bookkeeping practices of the bankrupt energy trader Enron are not indicative of accounting problems at other companies. 

The Dow Jones Industrial average is up 58 points at 9,802, while the broad market indicator - S&P 500 - is up four points at 1,100. The technology-heavy Nasdaq Composite Index is one point lower at 1,818. 

Stocks have been selling off in recent days amid concern that other companies may have the same accounting discrepancies as Enron. But analysts say those concerns have probably been exaggerated. 

In London, the Financial Times Index is up 21 points at 5,149, while in Paris the CAC 40 is up 55 points (more than one percent) at 4,354. The DAX in Frankfurt is 64 points (more than one percent) higher at 4,900. 

Tokyo markets were closed for a national holiday. In Hong Kong, the Hang Seng Index gained 314 points (nearly three percent) to end the day at 10,833. 

The price of gold closed in London at $298.80 an ounce, down $6.40. 

The dollar is lower against the other major currencies. 

Some information for this report provided by Bloomberg. 

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