European stock exchanges posted strong gains, with the London FTSE 100 index advancing 1.7% to end the week at 5,376 points.
In Paris the CAC 40 rose 1.7% to 4,299.36 points, while in Frankfurt the Dax added 1.8% to close at 6,383.
US stocks retreated as disappointing guidance from Microsoft and Google eclipsed Citigroup's better-than-expected losses largely soured investments in the US housing market.
The Dow Jones edged up 0.1% to 11,447 at 5.25pm and the Nasdaq dropped 1.5% to 2,278.31. After the market close yesterday, tech giants Microsoft and Google signalled tougher times ahead amid the US economic woes, despite solid quarterly earnings.
Microsoft tumbled 7.8% and Google shed 8.85 %. Citigroup jumped 8.2% after posting a $2.495 billion dollar quarterly loss on more hefty real estate write-offs in results not as bad as feared.
After yesterday's 5% surge, Dublin's ISEQ index added another 4.7% to stand at 4,894. Following yesterday's strong rallies, shares in Irish Life and Permanent added €1 to stand at €5.67 while Anglo Irish Bank added another 65 cent to €4.95. On the back of those lower oil prices airline stocks flew higher, with both Ryanair and Aer Lingus up around 20 cent and ten to €3.23 and €1.37 respectively. Shares in DCC were up 24 cent to €14.74, despite a call by shareholders at its AGM in Dublin for the splitting up of the company and changes at board level.
Earlier this morning, Tokyo's Nikkei 225 index closed 84 points lower at 12,804 ahead of a three-day holiday.
