European shares rose for a fifth straight day today, with BP surging on reports it may sell assets, but with some traders cautious ahead of the start of second-quarter US earnings season.
London's FTSE closed up 0.7% at 5,167 points. BP soared 9.4% to its highest close in a month, boosted by reports of asset disposals to help pay for the oil major's Gulf of Mexico spill and hopes for a new system to capture almost all the spewing oil. But miners were a drag on the index after data showed a drop in Chinese copper imports for a third month in June, stoking fears of a demand shortfall.
In Paris, the CAC gained 0.4% to 3,568 points and in Frankfurt the DAX added 0.2% to finish at 6,077 points.
Dublin's ISEQ closed 0.5% higher at 2,900. Building materials group CRH helped carry the index higher, gaining 1.8% to €15.82. Total Produce rose 2.6% to 34 cent, and Ryanair added 1.3% to €3,91. Aer Lingus fell, however, losing 4.9% to 78 cent. AIB lost 2.2% to close at 91 cent, and Kingspan dropped 1.9% to €6.19.
On Wall Street this afternoon, the Dow Jones was flat as traders awaited the start of the US corporate earnings season, while the Nasdaq lost 0.1% to 2,193.
Earlier, Tokyo's Nikkei average inched lower as the yen pared its losses and exporters gave up some gains. It finished down 0.4% at 9,548. The Hang Seng added 0.4% to 20,467.
