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Print Print 2005-09-29

Closing stock market indices

Here is how major stock markets outside the United States ended on Wednesday.
Published September 29, 2005

Here is how major stock markets outside the United States ended on Wednesday.
EUROPE STOCKS EXCHANGE: European shares ended at fresh 40-month highs, helped by reassuring US economic data, surging German equities led by DaimlerChrysler, and soaring miners after copper prices neared new records.
The Dax closed above the 5,000 point mark for the first time in nearly 3-1/2 years, driven by DaimlerChrysler after it offered staff at its Mercedes Car Group voluntary redundancy that aims to cut 8,500 jobs in Germany over 12 months.
"If you look at what's performing today in Germany it's DaimlerChrysler as it looks like they are restructuring at a faster pace than the market expected, and this is precisely what the story is about for markets," said Patrik Schowitz, global equity strategist at HSBC in London.
"Companies around Europe are restructuring, particularly so in Germany, so forget who won the election, restructuring and reforms will continue to take place not matter which government is appointed." Lower-than-expected hurricane damages at reinsurer Munich Re and receding worries that political tensions could hit industrial gas maker Linde in its key Iran market also helped the German index outpace European rivals. Yet, sentiment was also bullish elsewhere in Europe.
The FTSEurofirst 300 index of pan-European blue chips gained 0.9 percent to 1,229.2 points, after a stronger-than-expected rise in new orders for US durable good suggested the US economy was on a firm footing.
FRANKFURT STOCKS EXCHANGE: The DAX index ended at 5,048.74 points, up 82.86 or 1.67 percent
PARIS STOCKS EXCHANGE: The CAC-40 index closed at 4,599.63 points, up 52.83 or 1.16 percent.
ZURICH STOCKS EXCHANGE: The Swiss market index closed at 6,904.84 points, up 52.83 or 0.77 percent.
MILAN STOCKS EXCHANGE: The All Share Mibtel index closed at 26,890 points, up 206 or 0.77 percent.
SYDNEY STOCKS EXCHANGE: Shares were flat, with gains in key banks offset by losses in the world's top miners BHP Billiton and Rio Tinto, after they powered the market to record peaks on two straight days. The benchmark S&P/ASX 200 index was just down 1.6 points, or 0.04 percent, to 4,627.6.
JOHANNESBURG STOCKS EXCHANGE: Stocks shot above the 15,000 mark to another record high as strong commodity prices buoyed demand for mining stocks like Anglo American. The All-share index closed at 16,638.38 points, up 185.36 or 1.13 percent. The All Gold index closed at 2,027.02 points, down 25.31 or 1.23 percent, while the Industrial index closed at 12,138.47 points, up 190.94 or 1.60 percent.

Copyright Reuters, 2005

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