LONDON, April 10: European stock markets were flat on Monday, but disposal news from British catering giant Compass gave a shot in the arm to London share prices, dealers said.

London’s FTSE 100 index of leading shares climbed 0.21 per cent to 6,038.50 points and Frankfurt’s DAX 30 added 0.13 per cent to 5,960.40 points, while in Paris the CAC 40 slipped 0.27 per cent to 5,160.83 points.

The DJ Euro Stoxx 50 index of leading eurozone shares decreased by 0.11 per cent to 3,819.00 points.

The euro stood at $1.2104.

Wall Street shares had tumbled on Friday after a report showing stronger-than-expected US job growth highlighted investor fears about inflation and higher interest rates.

Japanese share prices eased back on Monday from recent multi-year highs as investors opted to pocket recent gains after Wall Street was jolted by interest rate worries, dealers said.

In London on Monday, Compass Group informed stock market authorities of the sale of its travel concession catering unit, Select Service Partner, for a total of 1.822 billion pounds (2.627 billion euros, $3.180 billion).

As a result, Compass said it would return 500 million pounds to shareholders via a share buyback over the next 18 months.

Investors applauded the news, sending its share price jumping 3.27 per cent to 237 pence.

Also in London, Kazakhmys, the biggest copper miner in Kazakhstan, saw its shares jump 3.46 per cent to 1,241.5 pence as the metal hit another fresh historical record close to $6,000 per ton.

Frankfurt shares were led higher by automotive stocks which rallied from last week’s losses, dealers said.

DaimlerChrysler rose 1.39 per cent to 47.54 euros after the Frankfurter Allgemeine Zeitung newspaper speculated Sunday that the company would continue to reduce its shareholdings in European aircraft maker EADS.

Volkswagen was also up, rising 0.76 per cent to 63.49 euros, helped by plans that it will jointly produce a new model, the Panamera, with Porsche.

Paris shares moved lower in the wake of Friday’s Wall Street-led declines, and in the absence of fresh market-moving news.

Shares in French energy group EDF topped the fallers board, shedding 1.72 per cent to 45.78 euros.

In US trading on Friday, the Dow Jones Industrial Average tumbled 0.86 per cent to close at 11,120.04, while the Nasdaq composite shed 0.94 per cent to 2,339.02 points.

The broad-market Standard and Poor’s 500 index retreated 1.03 per cent to 1,295.50 points.

In Asia on Monday, Tokyo’s benchmark Nikkei-225 index finished 0.61 per cent lower at 17,456.58 points, after closing Friday at the highest level since July 10, 2000.—AFP