European stocks mixed

Published June 13, 2007

LONDON, June 12: European stock markets were mixed on Tuesday, as Paris was dragged lower by the pharmaceuticals sector, after subdued trading overnight on Wall Street and earlier in Tokyo, dealers said.

London's FTSE 100 index of leading shares added 0.08 per cent to 6,572.60 points, Frankfurt's DAX 30 rose 0.04 per cent to 7,709.25 points, while in Paris the CAC 40 fell 0.23 per cent to 5,926.39.

The DJ Euro Stoxx 50 index of leading eurozone shares slid 0.11 per cent to 4,410.82 points.

The euro stood at 1.3347 dollars.

Wall Street had closed little changed on Monday, with the leading Dow Jones Industrial Average blue chip stock index ending slightly higher amid persisting fears about interest rates and inflation.

Tokyo share prices closed down Tuesday amid caution ahead of a Bank of Japan meeting on interest rates.

In Paris on Tuesday, the biggest faller was French pharmaceutical group Sanofi-Aventis.

Sanofi shares dived 1.36 per cent to 66.6 euros after it told the US Food and Drug Administration that its anti-obesity drug, also known under the Acomplia brand, brought a higher risk of suicidal thoughts than a placebo.

In Frankfurt, meanwhile, Siemens shares climbed 1.70 per cent to 98.02 euros after brokers Credit Suisse and Morgan Stanley lifted their price targets on the electronics manufacturing giant.

In London, Rolls-Royce stock revved 2.9 per cent higher to 523.75 pence, amid trade reports that European planemaker Airbus was unlikely to sign Rolls'US rival General Electric to provide an engine for the new wide-bodied A350 XWB jet.

In Wall Street trade on Monday, the Dow Jones blue-chip index closed only marginally higher at 13,424.96 points while the Nasdaq composite weakened 0.05 per cent to finish at 2,572.15 points.—AFP