European stock markets rose this morning with a strong showing from miners underscoring London gains, while corporate news from the US also lifted investor sentiment.
London's FTSE 100 index added seven points to stand at 5,293 by 11am after broker Credit Suisse First Boston upgraded shares in the European steel sector, adding that the risk of weak demand for steel next year in the US and the European Union looked unlikely. The Paris CAC was up four to 4,493 and the Frankfurt DAX gaining nine points to stand at 4,988.
Dublin's ISEQ index inched two points higher to stand at 6,634 by 11am. Shares in Elan were up 26 cent to €7.06 after that update on its MS drug Tysabri yesterday. Jurys Doyle shares were down 30 cent to €18.80 as it emerged that the Doyle family-led consortium JDH Acquisitions has gained control of the hotel group. C&C shares were down four to €5.31 after it said that France's Danone had terminated the group's contract to distribute Volvic and Evian water brands in Ireland.
US stocks made modest gains last night as blue chips got a lift from General Motors' cost-saving plan and a favourable court ruling for Altria. That helped the market shake off a fresh rise in oil prices, which have since eased. The Dow Jones climbed 0.59% to close at 10,348 and the Nasdaq gained 0.26% to 2,070.
