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Europe Buoyed By Fed's Statement |
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6:33 AM EDT June 30 2006 |
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European markets traded higher on Friday. The U.K. FTSE 100 index gained 1% at 5,851, the German DAX Xetra 30 index advanced 1.4% at 5,658, the French CAC-40 index rose 1.3% at 4,941. The advance was broad-based, but energy stocks were among the leaders after strong gains for their US peers as crude prices advanced above $73 a barrel, closing in on the $75.35 record set in April. Norway’s Statoil gained 2.5%, while France’s Total added 1.5% and Finnish refiner Neste Oil climbed 2.1% . Top gainers also included technology companies including Ericsson, up 2.1%, and automakers such as Renault, 1.3% higher. European movers included Germany's Siemens and Bayer after they struck a deal over Bayer's diagnostics division. Industrial conglomerate Siemens gained 1% after it announced late Thursday that it has agreed to buy Bayer's diagnostics unit for 4.2 billion euros in an effort to expand its healthcare equipment and services business. Bayer shares surged 4.1% after the news. |
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