LONDON, Feb 22: European stock markets rose on Thursday as investors seized on a flurry of bullish earnings reports, and after Tokyo hit a near seven-year high, dealers said.
Equities were jolted higher after Japanese share prices closed above 18,000 points on Thursday as sentiment remained upbeat despite a local interest rate rise in Japan, they added.
In Europe, London's FTSE 100 index of leading shares rose 0.57 per cent to 6,393.60 points, Frankfurt's DAX 30 index added 0.65 per cent to 6,987.02 and in Paris the CAC 40 won 0.41 per cent to 5,717.80 points.
The DJ Euro Stoxx 50 index of eurozone blue chip shares increased 0.51 per cent to 4,254.22 points. The euro stood at 1.3088 dollars.
In Frankfurt on Thursday, BASF shares stormed to the top of the risers board, jumping 5.09 per cent to 79.71 euros after the world's biggest chemicals maker published better-than-expected 2006 results.
BASF said in a statement that net profit rose by 7.0 per cent to 3.21 billion euros (4.2 billion dollars) in 2006, with the booming economy and acquisitions contributing to growth.
Allianz shares jumped 4.72 per cent to 163.94 euros. The German insurance giant reported record net profit of 7.021 billion euros in 2006, well above target, and said it expected further growth.
In Paris, AXA stock rose by 2.48 per cent to 33.95 euros. The French insurance group AXA posted an 18.0-per cent rise in net profits, drawn by a strong performance by its life assurance activities.
In Zurich, Nestle shares rallied 2.59 per cent to 476 Swiss francs, as the world's number one food manufacturer reported record full-year profit of 9.2 billion Swiss francs (5.7 billion euros, 7.4 billion dollars).
The Swiss Market Index, on which it is traded, gained 0.50 per cent to 9,253.15 points.
In London, the price of shares in BAE Systems rose by 2.79 per cent to 459.75 pence after the British defence company said that net profits almost tripled in 2006. That followed the sale of its 20-per cent holding in troubled European aircraft maker Airbus to parent aerospace group EADS.—AFP
