skip to main content

5.30pm Markets Update

Asian markets - Tokyo jumps 4%
Asian markets - Tokyo jumps 4%

European stocks, after rising earlier in the day, turned weaker late in the session, with the London FTSE 100 index shedding 0.12% to close at 5,859 points.

In Paris the CAC 40 fell 0.76% to end the day at 4,878.12, while in Frankfurt the DAX gave up 0.06% and finished at 6,817.

Wall Street shares slipped back from early gains which came after software titan Microsoft reported ballooning profits and as investor sentiment was boosted by a White House-backed economic stimulus plan.

The Dow Jones was up marginally to 12,379 at 5.25pm, following two days of solid gains. The Nasdaq rose 0.4% to 2,307. Microsoft said late yesterday that its latest profits surged 81% on record-high revenues of $16.37 billion in the last three months of 2007.

In Dublin, the ISEQ was down five points at 6,761. AIB added another 23 cent to €15.98 while Anglo Irish reversed early gains to drop 18 cent to €9.82. Food group Glanbia jumped 24 cent to €4.54. Mining company Kenmare dropped three to 62 cent after reporting teething problems at its Moma mine.

Earlier, Japanese share prices closed up 4%, with a three-day rebound picking up steam after the US agreement. Shares were also supported by a rise in the dollar triggered by the US economic stimulus package. Japanese exporters benefit from a weak yen against the dollar. Tokyo's Nikkei-225 index ended up 536 points at 13,629.