European shares drift up
Tuesday, 25 December 2007
LONDON, Dec 24 (AFP): Europe's main stock markets drifted upwards Monday, with Frankfurt shut for the Christmas holidays, while London and Paris were set for an early lunchtime finish.
In early deals on Christmas Eve, London's FTSE 100 index of leading shares added 0.50 per cent to 6,466.40 points and the Paris CAC 40 won 0.21 per cent to 5,614.57 points.
The British and French stock markets close at 1230 GMT and 1300 GMT respectively, while Wall Street reopens at 1430 GMT for a shortened trading session.
In the foreign exchange market Monday, the European single currency stood at US$1.4383 dollars.
Elsewhere in Europe, Frankfurt and Madrid markets were closed for a three-day shutdown. Trading was also suspended in the pan-European DJ Euro Stoxx 50 index of top eurozone shares.
On Friday, Frankfurt's DAX 30 soared 1.70 per cent to reach 8,002.67 points, breaching the psychological 8,000 barrier before the festive break.
US markets also hurtled higher as upbeat corporate news and a stronger-than-expected report on US consumer income and spending helped the market shake off recession fears.
In Paris Monday, Capgemini shares rocketed 5.67 per cent to 43.02 euros.
The European consultancy Capgemini was buoyed by persistent speculation that it could face a takeover bid from Indian software exporter Wipro, dealers said.
In London, the mining sector forged ahead as hopes for sector consolidation in 2008 remained high, analysts said.
The Sunday Telegraph reported that China had approached US investment bank Lehman Brothers and was scouring the globe for other advisers in efforts to affect the outcome of BHP Billiton's unsolicited takeover bid for Rio.
BHP shares surged 1.82 per cent to 1,568 pence, Antofagasta leapt 3.29 per cent to 738 pence and Kazakhmys rose 1.71 per cent to 1,370 pence.
Rio Tinto, however, saw its shares drag 0.45 per cent lower to 5,254 pence.
In US deals Friday, the Dow Jones Industrial Average jumped 1.55 per cent to close at 13,450.65 points and the Nasdaq composite rallied 1.94 per cent to 2,691.99.
The Standard & Poor's 500 index advanced 1.67 per cent to a close of 1,484.46.
In early deals on Christmas Eve, London's FTSE 100 index of leading shares added 0.50 per cent to 6,466.40 points and the Paris CAC 40 won 0.21 per cent to 5,614.57 points.
The British and French stock markets close at 1230 GMT and 1300 GMT respectively, while Wall Street reopens at 1430 GMT for a shortened trading session.
In the foreign exchange market Monday, the European single currency stood at US$1.4383 dollars.
Elsewhere in Europe, Frankfurt and Madrid markets were closed for a three-day shutdown. Trading was also suspended in the pan-European DJ Euro Stoxx 50 index of top eurozone shares.
On Friday, Frankfurt's DAX 30 soared 1.70 per cent to reach 8,002.67 points, breaching the psychological 8,000 barrier before the festive break.
US markets also hurtled higher as upbeat corporate news and a stronger-than-expected report on US consumer income and spending helped the market shake off recession fears.
In Paris Monday, Capgemini shares rocketed 5.67 per cent to 43.02 euros.
The European consultancy Capgemini was buoyed by persistent speculation that it could face a takeover bid from Indian software exporter Wipro, dealers said.
In London, the mining sector forged ahead as hopes for sector consolidation in 2008 remained high, analysts said.
The Sunday Telegraph reported that China had approached US investment bank Lehman Brothers and was scouring the globe for other advisers in efforts to affect the outcome of BHP Billiton's unsolicited takeover bid for Rio.
BHP shares surged 1.82 per cent to 1,568 pence, Antofagasta leapt 3.29 per cent to 738 pence and Kazakhmys rose 1.71 per cent to 1,370 pence.
Rio Tinto, however, saw its shares drag 0.45 per cent lower to 5,254 pence.
In US deals Friday, the Dow Jones Industrial Average jumped 1.55 per cent to close at 13,450.65 points and the Nasdaq composite rallied 1.94 per cent to 2,691.99.
The Standard & Poor's 500 index advanced 1.67 per cent to a close of 1,484.46.