LONDON, Sept 11: European stock markets pushed higher on Wednesday despite the threat of fresh terrorist attacks on the first anniversary of the September 11 atrocities, though activity was muted as traders mourned friends and colleagues lost in the tragedy.
Trading across Europe ground to a halt for a two-minute silence beginning at 1246 GMT, the minute when the first of four hijacked planes slammed into the north tower of the World Trade Centre.
Activity was also muted in Asia while in New York the start of trading was delayed while ceremonies took place at the site of the World Trade Centre, a few blocks from Wall Street.
But stock markets in Europe managed to shake off the sober mood to nose higher, albeit on the back of low trading volumes with dealers reluctant to leave themselves exposed to the risk of fresh terrorist strikes.
The pan-euro zone Euro Stoxx 50 index rose 2.5 per cent at 2,724.4.3 points in late trading.
The British FTSE 100 index gained 0.8 per cent to 4,210.7 points, the French CAC 40 index firmed 3.0 per cent to 3,397.0 points while the German DAX 30 was ahead 3.2 per cent at 3,606.8 points in late trade.
In the Nasdaq composite index rose more than one per cent in early deals after a delayed opening, while the Dow Jones industrials rose 0.7 per cent after an even later start which came after the close of most European markets.
Earlier in Asia, Tokyo stocks rose 1.0 per cent while Hong Kong shares ended little changed. Among the main winners in Europe, Dutch electronics giant Philips rallied 8.6 per cent to 19.61 euros, Finnish mobile telephone maker Nokia climbed 7.7 per cent to 15.17 euros and French media group Vivendi Universal rose 6.7 per cent to 14.25 euros.
But shares in German mobile telephone operator MobilCom plunged 38.19 per cent to 2.8 euros after the French daily Le Figaro reported that France Telecom would pull the plug on its partnership with the German company, in which it holds a 28.5 per cent stake, dealers said.
A spokesman for MobilCom in Frankfurt said the company would file for insolvency if it was abandoned France Telecom, whose shares rose 2.4 per cent to 11.04 euros..—AFP