Markets & Finance

Europe Stocks End Higher


European stock markets finished higher on Friday. London's Financial Times-Stock Exchange 100 index was up 34.5 points, or 0.76%, to 4,591. Big Food Group was sharply higher after the company said it is in talks to be acquired.

Germany's DAX index rose 24.42 points, or 0.62%, to 3,988.07 as Eurozone July industrial production rose 0.4%, less than the 0.5% expected, but well up from the 0.2% June decline.

In Paris, the CAC 40 index gained 34.54 points, or 0.94%, to 3,726.22. BNP Paribas was up as UBS raised its rating on French banks to "overweight" from "neutral."

In Asia, the markets finished mixed on Friday. Japan's Nikkei 225 index lost 56.87 points, or 0.51%, to finish at 11,082.49. Tech stocks extended losses, with Sony sinking 1.56% on earnings concerns after Sony President Kunitake Ando said he does not expect a sharp recovery in profitability in its home electronics business during the peak October-December quarter. Insurers fell on concerns over mounting insurance costs due to damages incurred from recent series of typhoons and hurricanes.

In Hong Kong, the Hang Seng index rose 15.09 points, or 0.11%, to 13,224.93, with techs and utilities stocks posting gains while properties slip. China plays gained on hopes of more positive market policies to prop up stock markets, according to Standard & Poor's MarketScope.


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