Sun, Mar 12, 2006 - Page 10 News List

European stocks surge after slow start

SOLID SHOWING European shares pushed higher after US payrolls data surpassed growth predictions, and the banking sector was supported by takeover speculation

AFP AND AP , LONDON

Power group Suez rose 0.98 percent to 34.17 euros, while GDF slipped 0.38 percent to 29.06 euros, both companies having been little affected by warnings from Belgian authorities that their merger would create serious competition problems there.

Automaker Volkswagen edged up 0.50 percent to 55.98 euros in Frankfurt despite negative comments from Merrill Lynch.

Elsewhere there were gains of 0.97 percent to 3,901.67 on the BEL 20 in Brussels, 0.62 percent to 11,771.8 on the IBEX-35 in Madrid, 0.72 percent to 37,927 in the SP/MIB in Milan, 1.4 percent to 7,970.64 on the Swiss Market Index and 0.92 percent to 458.59 on the AEX in Amsterdam.

On Friday, the Tokyo Stock Exchange's benchmark NIKKEI-225 index rose 0.49 percent to end at 16,115.63 points.

Hong Kong's key Hang Seng Index finished down 0.42 percent at 15,445.05 points on Friday as investors remained cautious owing to interest-rate worries and ahead of key US employment data later in the day, dealers said.

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