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5pm Markets Update

European stock markets closed slightly higher, with the London FTSE up 0.65% at 5,932 points.

In Paris, the CAC rose 0.96% to 4,859 points and in Frankfurt, the DAX inched up 0.07% to 6,905 points.

In New York, the Dow Jones fell 21 points (0.16%) to 12,407 this afternoon. The Nasdaq rose half a point (0.02%) to 2,328.

Dublin's ISEQ index lost 39 points to stand at 6,499 at close. The banks closed mostly weaker. Shares in AIB were 10 cent down at €13.80 after its annual results, posted yesterday, though they met market expectations. Anglo Irish Bank lost 13 cent (1.46%) to €8.85. Irish LIfe & Permanent was down 29 cent (2.77%) to €10.21. Only Bank of Ireland closed up, 5 cent (0.53%) higher at €9.50. Icon gained €1 (2.3%) to €45, after strong full year results.

Earlier this morning, Tokyo's Nikkei 225 index surged 378 points (2.8%) to close at 13,688, as Japanese shares got a boost from overnight gains on Wall Street.