European stocks hold steady
Thursday, 25 October 2007
LONDON, Oct 24 (AFP): European stocks stabilised Wednesday as dealers sat tight ahead of important US economic data and after a volatile start to the week.
In late morning trade, London's FTSE 100 index of leading shares was up 0.20 per cent at 6,526.80 points, the Paris CAC 40 gained 0.05 per cent to 5,708.09 points, while Frankfurt's DAX 30 lost 0.17 per cent to 7,829.77.
The Euro Stoxx 50 index of top eurozone shares fell 0.15 per cent to 4,371.98 points.
The European single currency stood at US$1.4216 after striking a record high $1.4347 Monday.
"Investors are cautious ahead of US homes sales due out today, still concerned about the impact of the credit crunch and the state of the housing market," said Mark Priest, head of equity sales at Tradindex.
After sliding Monday, European equity prices rebounded Tuesday.
Wall Street shares rallied Tuesday, outperforming earnings reports from Apple and other major companies that eased worries about the health of the US economy, dealers said.
But Japanese share prices closed about half-a-per cent lower Wednesday, giving up earlier gains as investors became more cautious about US economic indicators to be released later this week.
In late morning trade, London's FTSE 100 index of leading shares was up 0.20 per cent at 6,526.80 points, the Paris CAC 40 gained 0.05 per cent to 5,708.09 points, while Frankfurt's DAX 30 lost 0.17 per cent to 7,829.77.
The Euro Stoxx 50 index of top eurozone shares fell 0.15 per cent to 4,371.98 points.
The European single currency stood at US$1.4216 after striking a record high $1.4347 Monday.
"Investors are cautious ahead of US homes sales due out today, still concerned about the impact of the credit crunch and the state of the housing market," said Mark Priest, head of equity sales at Tradindex.
After sliding Monday, European equity prices rebounded Tuesday.
Wall Street shares rallied Tuesday, outperforming earnings reports from Apple and other major companies that eased worries about the health of the US economy, dealers said.
But Japanese share prices closed about half-a-per cent lower Wednesday, giving up earlier gains as investors became more cautious about US economic indicators to be released later this week.