Reply #8: European stocks at fresh 5-year highs

[ozymandius]

European equities hit fresh five-year highs on Tuesday as global stock markets recovered from the geopolitical concerns of the previous session.

In early trade, the FTSE Eurofirst 300 was up 0.2 per cent to 1,417.12, Frankfurt's Xetra Dax added 0.1 per cent to 6,092.44, the CAC 40 in Paris climbed 0.2 per cent to 5,296.61 and London's FTSE 100 gained 0.1 per cent to 6,036.9.

Asian and US stocks put in steady performances overnight, as geopolitical fallout caused by North Korea's nuclear test on Monday settled. On Wall Street the Dow ended 0.1 per cent higher at 11,857.81 and the Nasdaq rose 0.5 per cent to 2,311.77. In Asia, Tokyo's Nikkei Average added 0.3 per cent to 16,477.25 and Seoul's Kospi recovered 0.7 per cent after falling more than 2 per cent on Monday.

Back in Europe, financial stocks led the way higher. Germany's top non-life insurer Allianz joined the likes of Goldman Sachs and American Express in anticipating a doubling of its investment when Industrial and Commercial Bank of China debuts in Hong Kong and Shanghai on October 27.

http://news.yahoo.com/s/ft/20061010/bs_ft/fto1010200604...