European stock markets closed higher this evening as Ericsson and Volvo posted strong earnings, soothing investors' fears about the impact of a US economic slowdown on big European companies.
London's FTSE closed up 41 points (0.7%) at 6,091, with Alliance & Leicester and BA among the biggest gainers, adding more than 4%. In Paris, the CAC rose 1% to 4,978 and in Frankfurt the Dax added 1.1% to 6,897.
Dublin's ISEQ added 87 points to 6,179, with airline stocks up despite brokers cutting price targets for a number of airlines. Ryanair gained 15 cent to €2.77. Elan added 36 to €16.46 after its results earlier this week, but food group IAWS lost 35 cent to €15.75.
US stocks were mixed after a dismal report on consumer confidence raised fears about consumer spending, which makes up two-thirds of the US economy. The Dow Jones was down 60 points at 12,789 while the Nasdaq fell 27 to 2,402.
In Tokyo, Japan's Nikkei-225 index soared 323 points (2.4%) to 13,864, helped by a weaker yen which is positive for exporter earnings.
