Export stocks benefit Eurofirst
by Brian Turner
Export-oriented European stocks gained an advantage with the decline of the euro after France’s rejection of the European Union constitution.
Under this circumstance, the FTSE Eurofirst 300 hit a three-year high of 1,110.68 before settling down to a 0.1 percent loss for the day to close at 1,105.55 after the release of disappointing economic data by the United States.
Elsewhere in Europe, Germany’s DAX lost 0.44 percent to close at 4,460.63 and the CAC-40 in Paris declined 0.34 percent to close at 4,120.73.
Meanwhile in London, the FTSE 100 fell 0.4 percent to 4,964.0, while the FTSE 250 rose 0.1 percent to close at 7,114.3 on a slow volume of 2.4 billion shares coming off a bank holiday.
Imperial Tobacco was a leading gainer, up 2.6 percent to £14.89 after a Scottish court rejected a damage claim from a woman whose husband had died of lung cancer. Mining stocks were also up on news that copper reserves are near a 15-year low.
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