November 02, 2006	Thursday	Shawwal 9, 1427

LONDON, Nov 1: European stock markets saw mixed trading on Wednesday, but London mining sector gains were fuelled by rising commodity prices, dealers said. The Paris market, meanwhile, drifted lower in subdued trade owing to a public holiday across France.

London's FTSE 100 index of leading shares gained 0.17 per cent to 6,139.50 points, while Frankfurt's DAX 30 index eased 0.02 per cent to 6,267.92 points and in Paris the CAC 40 index decreased 0.03 per cent to 5,347.37.

The DJ Euro Stoxx 50 index of top eurozone shares offloaded 0.08 per cent to 4,001.70 points.

The euro stood at $1.2748.

The major US stock indexes had closed narrowly mixed Tuesday as investors appeared to be consolidating recent gains amid strong corporate earnings and higher crude oil prices.

Japanese share prices also finished on a mixed note on Wednesday as a stronger yen and a subdued performance overnight on Wall Street weighed on sentiment, dealers said.

In London, Cairn Energy shares surged 1.65 per cent to 1,784 pence after the oil and gas explorer issued an in-line trading update and confirmed plans for a flotation of its Indian business.

The mining sector was also buoyed by a fresh rise in commodity prices, with gold breaching 610 dollars per ounce, and copper and silver prices also on the up.

Lonmin shares surged 2.38 per cent to 2,971 pence, Xstrata gained 2.14 per cent to 2,288 pence and Vedanta Resources added 1.92 per cent to 1,490 pence.

Across in Asia on Wednesday, Hong Kong share prices rose 0.71 per cent to a record finish Wednesday, led by index heavyweight HSBC and laggard stocks such as Swire Pacific amid a fresh inflow of funds into the market, dealers said.

The benchmark Hang Seng Index closed up 129.30 points at 18,453.65 points, beating the previous record of 18,353.74 set last Thursday.

In Japan however, the Tokyo Stock Exchange's benchmark Nikkei-225 index dropped 0.15 per cent to 16,375.26 points.

Dealers said that Japanese investors were digesting a report from the Bank of Japan that painted an upbeat picture of the economic outlook but kept markets guessing on when interest rates will rise again here.

In Wall Street trade on Tuesday, the blue-chip Dow Jones Industrial Average index had closed down a slight 0.05 per cent at 12,080.73 points.

The technology-weighted Nasdaq composite finished up 0.12 per cent at 2,366.71, while the broad-market Standard and Poor's 500 index ended virtually flat at 1,377.94 points.

Stocks gained support on the back of earnings from consumer products giant Procter and Gamble, which just topped Wall Street estimates, and weakening crude oil prices.—AFP