LONDON, Jan 5 (AFP): European stock markets mostly steadied in early dealing Thursday, pausing for breathe after a strong start to 2006. London's FTSE 100 index of leading shares edged up 0.09 per cent to 5,719.80 points, Frankfurt's DAX 30 dipped 0.22 per cent to 5,511.21 on profit-taking and in Paris the CAC 40 rose 0.07 per cent to 4,841.81. The DJ Euro Stoxx 50 index of leading eurozone shares eased 0.02 per cent to 3,651.62 points. The euro stood at 1.2100 dollars. European exchanges this week have reached their highest points since the summer of 2001, in the wake of solid gains at the end of last year. Across the Atlantic, Wall Street had powered ahead Wednesday on expectations that the US Federal Reserve would soon end its policy of hiking interest rates, dealers said. Such a move would ease companies' borrowing costs. The Dow Jones Industrial Average closed up 0.30 per cent at 10,880.15 points and the tech-heavy Nasdaq gained 0.88 per cent at 2,263.46. The broader Standard and Poor's 500 index climbed 0.37 per cent to 1,273.46, the highest level in four and a half years. In Asia Thursday, Tokyo's benchmark Nikkei-225 index closed up 0.39 per cent at 16,425.37 points-the highest finish in more than five years as fresh gains on Wall Street fanned upbeat investor sentiment, dealers said. Hong Kong's key Hang Seng Index ended 0.47 per cent higher at 15,271.13. In London Thursday, the FTSE 100 was supported in part by the fund manager Amvescap, which saw its share price jump 2.64 per cent to 465.75 pence on a broker upgrade. HBOS fell 0.67 per cent to 969 pence after Britain's fourth-biggest bank said that its chief operating officer Andy Hornby has been chosen to succeed group chief executive James Crosby, who has decided to step down in July.
|