LONDON (AFX) - Europe's largest exchanges moved higher in opening deals after Wall Street posted a second session of gains as bullish ISM data assuaged fears of a hard landing in the US economy, dealers said.
At 08.38, the STOXX 50 was 0.67 points higher at 354.58 and the STOXX 600 was up 7.08 at 3616.06
Last night, the DJIA rose 47.75 points or 0.39 pct to 12,331.60 and the Nasdaq was up 3.99 points or 0.16 pct at 2,452.38 after the Institute of Supply Management's index of non-manufacturing activity rose to 58.9 in November from 57.1 in October. Most Wall Street analysts had forecast that the index would drop to 55.5.
In Asia, the Nikkei closed up 105.52 points at 16,371.28 and the Hang Seng Index ended the morning up 90.25 points at 19,034.44.
Oil prices were firmer in Asian trading hours as the market awaited the weekly report on US inventory and an OPEC meeting next week amid speculation about a further cut in output.
In Europe, Capgemini fell 3.39 pct after it said it will launch a 455 mln eur share capital hike to finance acquisitions.
In case of the full exercise of an over-allotment option granted to joint bookrunners Lazard-Natixis and Morgan Stanley, the capital hike could raise a total 500 mln eur, based on an indicative share price of 43.87 eur.
deborah.hyde@afxnews.com dlh/gp COPYRIGHT Copyright AFX News Limited 2006. All rights reserved. The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News. AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
At 08.38, the STOXX 50 was 0.67 points higher at 354.58 and the STOXX 600 was up 7.08 at 3616.06
Last night, the DJIA rose 47.75 points or 0.39 pct to 12,331.60 and the Nasdaq was up 3.99 points or 0.16 pct at 2,452.38 after the Institute of Supply Management's index of non-manufacturing activity rose to 58.9 in November from 57.1 in October. Most Wall Street analysts had forecast that the index would drop to 55.5.
In Asia, the Nikkei closed up 105.52 points at 16,371.28 and the Hang Seng Index ended the morning up 90.25 points at 19,034.44.
Oil prices were firmer in Asian trading hours as the market awaited the weekly report on US inventory and an OPEC meeting next week amid speculation about a further cut in output.
In Europe, Capgemini fell 3.39 pct after it said it will launch a 455 mln eur share capital hike to finance acquisitions.
In case of the full exercise of an over-allotment option granted to joint bookrunners Lazard-Natixis and Morgan Stanley, the capital hike could raise a total 500 mln eur, based on an indicative share price of 43.87 eur.
deborah.hyde@afxnews.com dlh/gp COPYRIGHT Copyright AFX News Limited 2006. All rights reserved. The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News. AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
© 2006 AFX News
