Sun, Jun 12, 2005 - Page 10 News List

Greenspan analysis provides impetus to markets in Europe

AFP , LONDON

European stock markets closed higher on Friday, buoyed by a positive opening on Wall Street a day after US Federal Reserve Chairman Alan Greenspan's encouraging analysis of the US economic outlook.

The London FTSE 100 index climbed 0.42 percent to 5,030.40 points and the Frankfurt DAX 30 increased 0.51 percent to 4,586.10 points.

In Paris the CAC 40 rose 0.73 percent to 4,184.10.

The DJ Euro STOXX 50 index of leading eurozone shares advanced 0.67 percent to 3,143.85 points.

At London's close, the Dow Jones Industrial Average was 1.40 points higher at 10,504.40.

Back in London, Reuters remained a star performer, rising 1.75 percent to £4.07 thanks to bullish comments from JP Morgan and ABN Amro.

Broker comment also proved the spur for Scottish Power, up 2.96 percent at £4.78, after Merrill Lynch upgraded the shares to "buy" from "neutral," noting that the company was an attractive bid target for a pan-European major following the sale of its Pacificorp subsidiary.

Elsewhere in Europe, the Swiss Market Index slipped 0.09 percent to 6,239.38 points.

The Amsterdam AEX added 0.73 percent at 376.09, the Brussels BEL-20 rose 0.60 percent to 3,100.40, the Madrid IBEX-35 climbed 0.71 percent to 9,561.5 and the Milan SP/MIB gained 0.31 percent at 32,378.0.

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