skip to main content

5.30pm Markets Update

US shares continued to climb today on swelling corporate profits, including from oil heavyweight  ExxonMobil which unveiled quarterly profits topping $9 billion.

An improved financial snapshot from struggling automaker Ford  was also welcomed by investors. As European markets closed the Dow was up 26 points, or 0.20%, to 13,116 after striking a record close of 13,089 on Wednesday. The Nasdaq was up 6 points, 0.24%  at 2,553.

In London the FTSE 100 index closed up 0.12% to 6,469 points, while in Paris CAC 40 slipped 0.05% to finish at  5,944. In Frankfurt the Dax rose 0.60% to 7,387.

On the currency market the euro lost ground against the dollar  and was trading at $1.3596 late in the day, against $1.3636 on  Wednesday.

Royal Bank of Scotland lost 0.64% to close at 1,087 pence  as management at Dutch bank ABN Amro appeared to favor Barclays as a  merger partner.

In Paris investors were said to be anxious that current weakness  in the Spanish housing market might spread elsewhere in Europe. As a result construction firm Bouygues fell 1.7% to €58.39 while Vinci shed 1.84% to finish at €117.20.

In Dublin, the ISEQ closed up 58 at 9,601. Construction group McInerney fell a further 4% to €14.35 on Spanish property market fears and diagnostics products maker Trinity Biotech closed up 11% at 1.92 after strong first quarter results.

Earlier, In Asia the Tokyo Stock Exchange's Nikkei-225 index soared 1.12% to close at 17,429 points.