Print

Mail

wiki links

Commodities boost European markets

European stock markets closed higher on Friday, as higher oil prices boosted energy companies and US shares made a strong start on Wall Street, dealers said.

In London the FTSE 100 index added 0.57 percent to end the week at 6,382.80 points, in Paris the CAC 40 rose 0.48 percent to close at 5,692.45 and in Frankfurt the DAX gained 0.50 percent to finish at 6,911.11.

The DJ Euro STOXX 50 index of eurozone blue chip shares rose 0.53 percent to 4,248.24 points.

The euro stood at US$1.2995.

European shares were fueled by gains in the commodities sectors on the back of stronger prices and a handful of bullish broker notes, dealers said.

British energy heavyweight BP gained 0.56 percent, Royal Dutch Shell put on 0.24 percent and French peer Total added 0.86 percent.

Meanwhile, miners climbed higher as copper and gold prices rallied. In London, Anglo American rose 0.94 percent and BHP Billiton added 1.55 percent.

In Paris, Alcatel-Lucent shares fell 0.10 percent after the newly merged telecommunications equipment maker reported dismal fourth quarter numbers -- but issued an outlook statement that was better than some analysts had expected.

In Madrid the IBEX 35 closed 0.33 percent higher at 14,875.5 points, in Milan the SP/MIB added 0.60 percent to 42,744 points and in Amsterdam the AEX rose 0.50 percent to 507.30 points. The Swiss SMI index closed 0.68 percent higher at 9,292.06 points.
This story has been viewed 1595 times.