European shares rise
Friday, 15 August 2008
LONDON, Aug 14 (AFP): Europe's main stock markets rose Thursday, despite news of shrinking European economic growth in the second quarter, as heavyweight miners were boosted by higher commodity prices, traders said.
The eurozone economy contracted for the first time ever in the second quarter, with gross domestic product (GDP) falling 0.20 per cent as German growth succumbed to global strains, official data showed.
In late morning European trading, the FTSE 100 index of top companies was jolted 1.15 per cent higher to 5,511.30 points.
Frankfurt's DAX 30 added 0.33 per cent to 6,443.08 points and the Paris CAC 40 gained 0.77 per cent to stand at 4,437.03 nearing the half-way mark.
The Euro Stoxx 50 index of leading eurozone shares won 0.20 per cent to 3,361.39 points.
Wall Street closed lower Wednesday in the wake of a report showing retail sales declined slightly in July and as world oil prices spiked higher.
Japanese share prices closed lower Thursday, ending below the key 13,000-points level amid fresh problems in the domestic real estate industry, dealers said.
However, European markets shook off the downbeat mood, as investors took heart from rising metals prices, which lift profits for the mining sector.
In London, mining group Antofagasta saw its share price rally 6.60 per cent to 573.5 pence and resources giant BHP Billiton leapt 6.02 per cent to 1,603 pence.
The eurozone economy contracted for the first time ever in the second quarter, with gross domestic product (GDP) falling 0.20 per cent as German growth succumbed to global strains, official data showed.
In late morning European trading, the FTSE 100 index of top companies was jolted 1.15 per cent higher to 5,511.30 points.
Frankfurt's DAX 30 added 0.33 per cent to 6,443.08 points and the Paris CAC 40 gained 0.77 per cent to stand at 4,437.03 nearing the half-way mark.
The Euro Stoxx 50 index of leading eurozone shares won 0.20 per cent to 3,361.39 points.
Wall Street closed lower Wednesday in the wake of a report showing retail sales declined slightly in July and as world oil prices spiked higher.
Japanese share prices closed lower Thursday, ending below the key 13,000-points level amid fresh problems in the domestic real estate industry, dealers said.
However, European markets shook off the downbeat mood, as investors took heart from rising metals prices, which lift profits for the mining sector.
In London, mining group Antofagasta saw its share price rally 6.60 per cent to 573.5 pence and resources giant BHP Billiton leapt 6.02 per cent to 1,603 pence.