European stocks advance amid high oil prices
Sunday, 8 July 2007
LONDON, July 7 (AFP): Europe's main stock markets climbed higher Friday as the oil sector was energised by soaring crude prices, dealers said.
London's FTSE 100 index of leading shares rose 0.42 per cent to 6,663.20 points, Frankfurt's DAX 30 index added 0.11 per cent to 7,996.20 points and in Paris the CAC 40 gained 0.40 per cent to 6,083.58.
The DJ Euro Stoxx 50 index of leading eurozone shares won 0.33 per cent to 4,506.49 points.
US stocks ended mixed Thursday as a new wave of corporate activity helped offset a weak bond market and sharp losses in other global markets.
Japanese share prices snapped a six-day winning streak Friday as investors pocketed gains ahead of key US jobs data, dealers said.
In London, Anglo-Dutch energy giant Royal Dutch Shell saw its 'A' shares jump 1.80 per cent to 2,093 pence, while peer BP added 0.99 per cent to 610 pence.
In Paris, shares in French oil and gas group Total leapt 1.54 per cent to 61.16 euros.
The European mining sector also won big gains amid expectations global economic growth will continue to sustain demand for commodities.
Credit Suisse lifted its forecasts for commodity prices by up to 50 per cent, prompting the broker to raise share price targets on London-listed miners Anglo American, Rio Tinto, Xstrata and Kazakhmys.
In Wall Street trading Thursday, as traders returned from the Independence Day holiday, the Dow Jones Industrial Average fell 0.08 per cent to close at 13,565.84 points.
The tech-heavy Nasdaq composite however rose 0.44 per cent to 2.656.65 and the Standard and Poor's 500 broad-market index added a fractional 0.03 per cent to 1,525.40.
Hurting sentiment was a 5.25-per cent plunge in Chinese shares Thursday.
On Friday however, China's benchmark Shanghai Composite Index, which covers both A-and B-shares listed on the Shanghai Stock Exchange, rebounded by 4.58 per cent to 3,781.35 points.
Hong Kong's Hang Seng Index closed up 1.25 per cent to a new record of 22,531.74 points, with strong gains in property stocks, dealers said.
In Japan, the Tokyo Stock Exchange's benchmark Nikkei-225 index of leading shares fell 0.44 per cent to 18,140.94 points.
London's FTSE 100 index of leading shares rose 0.42 per cent to 6,663.20 points, Frankfurt's DAX 30 index added 0.11 per cent to 7,996.20 points and in Paris the CAC 40 gained 0.40 per cent to 6,083.58.
The DJ Euro Stoxx 50 index of leading eurozone shares won 0.33 per cent to 4,506.49 points.
US stocks ended mixed Thursday as a new wave of corporate activity helped offset a weak bond market and sharp losses in other global markets.
Japanese share prices snapped a six-day winning streak Friday as investors pocketed gains ahead of key US jobs data, dealers said.
In London, Anglo-Dutch energy giant Royal Dutch Shell saw its 'A' shares jump 1.80 per cent to 2,093 pence, while peer BP added 0.99 per cent to 610 pence.
In Paris, shares in French oil and gas group Total leapt 1.54 per cent to 61.16 euros.
The European mining sector also won big gains amid expectations global economic growth will continue to sustain demand for commodities.
Credit Suisse lifted its forecasts for commodity prices by up to 50 per cent, prompting the broker to raise share price targets on London-listed miners Anglo American, Rio Tinto, Xstrata and Kazakhmys.
In Wall Street trading Thursday, as traders returned from the Independence Day holiday, the Dow Jones Industrial Average fell 0.08 per cent to close at 13,565.84 points.
The tech-heavy Nasdaq composite however rose 0.44 per cent to 2.656.65 and the Standard and Poor's 500 broad-market index added a fractional 0.03 per cent to 1,525.40.
Hurting sentiment was a 5.25-per cent plunge in Chinese shares Thursday.
On Friday however, China's benchmark Shanghai Composite Index, which covers both A-and B-shares listed on the Shanghai Stock Exchange, rebounded by 4.58 per cent to 3,781.35 points.
Hong Kong's Hang Seng Index closed up 1.25 per cent to a new record of 22,531.74 points, with strong gains in property stocks, dealers said.
In Japan, the Tokyo Stock Exchange's benchmark Nikkei-225 index of leading shares fell 0.44 per cent to 18,140.94 points.