European shares up

Published December 6, 2006

LONDON, Dec 5: European stock markets rose solidly on Tuesday after Wall Street had rebounded overnight. London's FTSE 100 index of leading shares climbed 0.43 per cent to 6,076.60 points in late morning deals, in Frankfurt the DAX 30 gained 0.45 per cent to reach 6,323.59 points, while the Paris CAC 40 won 0.58 per cent to 5,326.71.

The DJ Euro Stoxx 50 index of eurozone blue chip shares increased 0.53 per cent to 3,984.13 points.

The euro stood at 1.3319 dollars.

Wall Street shares had leapt on Monday after The Bank of New York announced it was taking over Mellon Financial for $16.5 billion (24.5 billion euros), while falling oil prices helped also, traders said.

Meanwhile India's benchmark share index powered past the 14,000 points mark for the first time Tuesday, led by foreign fund buying on the back of strong growth figures and forecasts for Asia's fourth-largest economy.

In London, US-exposed stocks enjoyed a comeback as the dollar recovered slightly, with broker ICAP soaring 3.37 per cent at 4.25 pence and investment manager Amvescap advancing 3.13 per cent to 560.5 pence, dealers said.

EDF surged 4.62 per cent to 54.4 euros in Paris -- the French electricity generator continuing to gain from a ruling last week that price controls imposed by the French government are in breach of EU rules.

German engineering conglomerate Linde was the top performer in Frankfurt, winning 2.45 per cent to 76.20 euros.

After passing the 74.85 euro-per-share mark, the issues were able to break the negative trend over the last seven days and jump upwards, one trader said.

In New York on Monday, the broad-market Standard and Poor's 500 index closed up 0.89 per cent at 1,409.12 points -- the highest finish since November 8, 2000.

The Dow Jones Industrial Average rose 0.74 per cent to 12,283.85 points and the technology-laden Nasdaq composite jumped 1.46 per cent at 2,448.39.—AFP

Opinion

Editorial

Centre vs provinces
Updated 10 Jun, 2026

Centre vs provinces

The reason the centre finds itself in this position is rooted in its failure to expand the tax net and boost revenues.
Party in crisis
10 Jun, 2026

Party in crisis

THE young KP chief minister must be starting to realise just how thorny a seat he occupies. There has been a flurry...
Varsity woes
10 Jun, 2026

Varsity woes

FINANCIAL crises affecting public sector universities across Pakistan are now having an impact on academic...
Doctor attacked
09 Jun, 2026

Doctor attacked

AN act of reprehensible violence has shaken the medical community. On Saturday, an employee of the Provincial Civil...
AJK flare-up
Updated 09 Jun, 2026

AJK flare-up

The situation started deteriorating after a trader affiliated with the JAAC was reportedly shot in an altercation with law-enforcers.
Fault lines
09 Jun, 2026

Fault lines

THE April 8 ceasefire that halted hostilities between Israel and Iran has encountered its most serious test yet....