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Print Print 2004-03-27

Closing stock market indices

Here is how major stock markets outside the United States ended on Friday.
Published March 27, 2004

Here is how major stock markets outside the United States ended on Friday.
EUROPE STOCKS EXCHANGE: Steadier nerves and gains in steel firms and airlines lifted European shares as stock markets extended their recovery from 2004 lows. But Credit Suisse skidded after an accounting error at the Swiss bank spooked investors.
UK retailers were also down as news from Boots and J.Sainsbury chilled the sector.
The market ended the week lower for a third week in a row as doubts about economic recovery, compounded by security concerns, fuel a pullback from a 22-month peak earlier in March.
Some analysts believe the retreat is largely over, though stocks could dawdle for another week or two until a new US earnings season offers fresh guidance to investors.
"We believe the correction has run its course. The risk premium in equities now looks more generous again and equities offer relative appeal compared to both government and corporate debt," said Rolf Elgeti, European strategist at Commerzbank.
The FTSE Eurotop 300 index ended up 0.2 percent at 973.59 points in steady volume. For the week it was down 0.36 percent, and off 5.3 percent from its 2004 peak on March 3.
FRANKFURT STOCKS EXCHANGE: The DAX index ended at 3,822.33 points, up 10.41 or 0.27 percent and a small gain on the week of 3.18 points.
PARIS STOCKS EXCHANGE: The CAC-40 index closed at 3,592.39 points, up 21.99 or 0.62 percent on the day, but lower on the week by 20.89 points.
ZURICH STOCKS EXCHANGE: The Swiss market index closed at 5,587 points, down 5.3 or 0.09 percent and a loss of 34.5 points over the week.
MILAN STOCKS EXCHANGE: The All Share Mibtel index closed at 20,110 points, up 48 or 0.24 percent on the day and a 42 point rise over the last seven days.
SYDNEY STOCKS EXCHANGE: Stocks staged their biggest rally in about three months, erasing almost all of the losses made early in the week as investors snapped up banking and resource stocks following positive offshore leads.
The S&P/ASX 200 index ended up 28.7 points, or 0.85 percent, at 3,428.5, a fall of 6.8 points from a week ago.
JOHANNESBURG STOCKS EXCHANGE: Stocks ended higher - reclaiming some of the ground lost early in the week - but were still languishing around 2-1/2 month lows as investors continued to tiptoe around the market.
The broad FTSE/JSE All-Share Index closed 1.13 percent or 118.80 points higher at 10,653.20 but down on the week by 162.79 points.
The All Gold index closed at 2,285.1 points, up 86.6 or 3.94 percent and higher by 11.89 points since last weekend.
The Industrial index closed at 7,173.26 points, up 59.99 or 0.84 percent but falling 134.72 on the week.

Copyright Reuters, 2004

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