Sun, Nov 12, 2006 - Page 10 News List

European exchanges turn in mixed performance


European stock exchanges turned in a mixed performance on Friday, with share prices falling in London while holding stable in Paris and Berlin.

The London FTSE 100 index shed 0.37 percent to close at 6,208.49, with sentiment dampened by poor showings in the mining and pharmaceutical sectors.

In Paris the CAC 40 fell 0.02 percent to 5,447.50 as electricity utility EDF soared to a new record. The Dax in Frankfurt slipped just 0.01 percent in featureless trading to end the session at 6,357.77 points. The Euro STOXX 50 index of leading eurozone issues lost 0.22 percent to end the week at 4,063.84.

Wall Street shares held in a narrow range after Boeing announced it had won a US$15 billion helicopter supply deal with the US Air Force.

Analysts said reports that China was intending to diversify its foreign exchange reserves weighed on the dollar and hence US stocks.

In London pharmaceuticals were under pressure as companies worried that a Democrat-controlled US Congress might impose tougher authorization regulations on drugs and medicines.

GlaxoSmithKline shed 1.88 percent, while AstraZeneca gave up 2.11 percent.

Mining stocks suffered from falls in the price of copper and gold, which dropped to their lowest levels in four months.

In Paris EDF shot up 2.56 percent on news that its overall sales had increased 20.6 percent in the first nine months of the year. In Europe sales jumped 23.4 percent.

In Frankfurt Deutsche Telekom was shunned by investors and fell 2.45 percent.

The group lost clients in Germany over the third quarter and its earnings weakened.

Elsewhere there were declines of 0.32 percent to 8,735.82 on the Swiss Market Index, 0.77 percent to 14,002.4 on the IBEX-35 in Madrid and 0.17 percent on the AEX in Amsterdam.

There were gains of 0.45 percent to 40.480 on the SP/MIB in Milan and 0.05 percent to 4,219.04 on the BEL 20 in Brussels.

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