April 24, 2008	Thursday	Rabi-us-Sani 17, 1429

LONDON, April 23: Europe’s main stock markets closed higher on Wednesday, taking their lead from a US rebound after choppy trade as investors waited for corporate results and economic data to give a clearer lead.

Dealers said the tone was uncertain following losses on Tuesday when growing confidence that the worst of the credit crunch was over was dampened by very weak US housing figures and disappointing first quarter company reports.

As the markets digested the latest records for oil and the euro against the dollar, the banks continued under pressure on concerns they will have to raise more cash to remedy massive losses due to the US subprime home loan crisis.

However, in late afternoon trade, stocks steadied as Wall Street recovered to post solid gains although dealers cautioned that the upturn could be simply technical.

In London, the FTSE 100 index of leading shares was up 0.81 per cent at 6,083.60 points, in Frankfurt, the Dax 30 rose 0.99 per cent to 6,795,03 points and in Paris the CAC 40 jumped 1.48 per cent to 4,944.55 points.

The Euro Stoxx 50 index of top eurozone shares gained 0.75pc.

Investor sentiment got a boost as Boeing, up nearly 4.0 per cent, said its first quarter profit rose 38 per cent and reaffirmed its earnings guidance for this year.

In London, miners helped the market come off its lows as the banks remained in the doldrums following Tuesday’s record cash call from Royal Bank of Scotland to cover its losses on its exposure to the US home loan crisis.

BHP put on 2.39 per cent to 1,927 pence while among the oil majors, Royal Dutch Shell jumped 3.50pc to 1,952 pence.—AFP