Markets & Finance

Europe Markets End Higher

European stock markets ended slightly higher in reaction to news of Saddam Hussein's capture. London's Financial Times-Stock Exchange 100 index gained 0.4 point, or 0.01%, to 4,348, as the market weakened from the best levels of the session amid reports that Britain's inflation could rise.

In Paris, the CAC 40 added 19.82 points, or 0.57%, to 3,490.42. There was little reaction to a report that the European Union failed to agree on constitution at its weekend meeting. But some worried that the recent strength in the euro might restrain EU recovery.

Germany's DAX index advanced 15.34 points, or 0.4%, to 3,875.47. But the market was restrained by news that German leader Gerhard Schroeder and opposition agreed to a package of tax cuts that are about half of what the Chancellor proposed, which some observers will make it more difficult for German economy to recover.

Asian markets finished higher Friday. In Japan, the Nikkei 225 index rose 321.11 points, or 3.61%, to 10,490.77 since the capture of Saddam Hussein was widely expected to cheer Wall Street by lifting certain geopolitical risk. In Hong Kong, the Hang Seng index lost 74.25 points, or 0.59%, to 12,520.17.

Canada's benchmark S&P/TSX fell 47.09 points, or 0.59%, to 7,932.11.

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