Markets & Finance

Europe Stocks Rise


European stock markets finished higher on Monday.

London's Financial Times-Stock Exchange 100 index was up 29.6 points, or 0.56%, to 5,344.3 even though U.K. input prices rose 1.8% in July and output rose 0.7%.

Among stocks on the move, Marconi was higher on a Sunday Times report China's Huawei Technologies is in talks to buy the company. Standard Chartered was higher after company said first half profits rose 28%.

Germany's DAX index was up 10.68 points, or 0.22%, to 4,837.86 as Eurozone July retail PMI jumped to 51.0 from 49.1, well above expectations.

Bilfinger Berger was higher after UBS raised the share-price forecast by 13% to 51 euros. Degussa lower as second-quarter earnings fell 5.9%.

In Paris, the CAC 40 index gained 19.31 points, or 0.44%, to 4,441.01 on short covering.

Archos was higher after reporting a 52% hike in second-quarter sales. Sanofi-Aventis rose on report preliminary human tests showed experimental vaccine is effective against a bird flu seen capable of starting global outbreak of the disease.

Asian markets finished higher on Monday.

Japan's Nikkei 225 index edged up 12.5 points, or 0.11%, to 11,778.98. Prime Minister Junichiro Koizumi's plan to privatize Japan Post, the world's largest savings institution, was rejected. Late market gains reflected sentiment that the failure of this plan to pass had been priced in last week, when stocks tumbled, reports Standard & Poor's MarketScope.

In Hong Kong, the Hang Seng index rose 57.62 points, or 0.38%, to 15,108.94 led by blue chips. Market gains were limited by expectations that local banks will raise lending rates after an anticipated 25 basis point hike in the U.S. federal funds rate by the Federal Reserve on Tuesday.


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