Markets & Finance

Europe Stocks Buoyed by U.S. rally

European markets closed higher. In London, the Financial Times-Stock Exchange 100 index was up 143.30 points, or 2.86%, to 5,153.10. The bigest contributors to the advance in the FTSE were BP Amoco, Vodafone, GlaxoSmithKline and Shell Transport.

Germany's DAX Index gained 140.77 points, or 3.15%, to 4613.19 even though the German unemployment rate rose to 9.4% in September from 9.3% in August. In France, the CAC 40 rose 142.41 points, or 3.41%, to 4,319.38.

Canada's benchmark TSE 300 composite gained 1.21%, or 82.95, to 6,952.27, amid hope that expectations for slower economic growth and poor earnings are already priced into the market. However, gains were capped by ongoing uncertainty that has reigned in markets since the September 11 attacks.

Asian markets finished lower. In Japan, the Nikkei 225 index fell 46.89 points, or 0.47%, to 9964.88 after the market weakened in the afternoon, as losses in banks and telecommunications shares swelled. Meanwhile, Hong Kong's Hang Seng shed 60.69 points, or 0.59%, to close at 10,298.24.

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