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Print Print 2004-05-19

Closing stock market indices

Here is how major stock markets outside the United States ended on Tuesday.
Published May 19, 2004

Here is how major stock markets outside the United States ended on Tuesday.
EUROPE STOCKS EXCHANGE: Bullish sales and earnings updates from retailer Hennes & Mauritz and engineering firm ABB, plus asset sale plans by media giant VNU helped European shares rebound from a 2004 low.
Market heavyweight Bayer was another strong climber after Morgan Stanley raised its rating on the German drugs and chemicals group to "overweight" from "equal-weight" and raised its price target to 27 euros from 20, citing news from the company's pharmaceutical research pipeline.
Merger and acquisition activity also lent strength to the market after Belgian drug-maker UCB agreed to buy Britain's biggest biotechnology firm Celltech for 1.53 billion pounds ($2.71 billion).
Celltech shares rose by over a quarter, and UCB closed four percent lower.
The FTSE Eurotop 300 index of pan-European blue chips gained 0.8 percent to close at 966.5 points, up from Monday's 2004 trough of 951.95 points, in relatively thin volumes as strategists said the recovery lacked conviction.
FRANKFURT STOCKS EXCHANGE: The DAX index ended 3,789.24 points, up 34.87 or 0.93 percent.
PARIS STOCKS EXCHANGE: The CAC-40 index closed at 3,569.14 points, up 16.12 or 0.45 percent.
ZURICH STOCKS EXCHANGE: The Swiss market index closed at 5,638.4 points, up 30.5 or 0.54 percent.
MILAN STOCKS EXCHANGE: The All Share Mibtel index closed at 20,358 points, up 102 or 0.50 percent.
SYDNEY STOCKS EXCHANGE: Shares rebounded with other Asian markets as investors bought miners and companies like Rupert Murdoch's News Corp with large US dollar earnings as the Australian dollar continued to fall.
The benchmark S&P/ASX 200 index finished 26.4 points, or 0.79 percent, higher at 3,371.9.
JOHANNESBURG STOCKS EXCHANGE: Mining stocks such as Angloplat tanked as investors dumped stocks on heightened fears about global growth.
The losses stemmed partly from wobbly metals prices and a stronger local currency, but gloom about high oil prices and possible inflation also hit general sentiment.
The all-share index fell 60.21 or 0.61 percent to 9,748.10 points.
The All Gold index closed at 1,753.62 points, down 60.2 or 3.32 percent, while the Industrial index closed at 6,985.49 points, up 5.81 or 0.08 percent.

Copyright Reuters, 2004

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