Equity markets end week positive

| June 10, 2005 | 0 Comments
Equity markets end week positive

The equities markets in Europe and the United States ended the week in positive territory for the most part, the only exception being the Nasdaq in New York.

In London, the FTSE 100 was up 0.6 percent for the week to a Friday close of 5030.4, the highest since March 4. The FTSE 250 gained 0.8 percent on the week, closing at 7,264.2 on Friday.

The oil sector, banks, and IT hardware manufacturers all helped in the advances.

In the eurozone, the FTSE Eurofirst 300 hit a three-year high, closing up 0.6 percent for the day for a total rise of 1.1 percent on the week. The Paris and Frankfurt markets also hit three-year highs.

The oil sector was strong despite small losses in crude oil prices during the week, and technology stocks continued a comeback from first-quarter lows.

In the United States, the Dow Jones Industrial Average was up 0.5 percent for the week, while the S&P 500 grew by 0.2 percent. Nasdaq, however, lost 0.4 percent this week.

It was a week of little movement for the New York markets as investors were not sure where the market was headed after statements by Federal Reserve chairman Alan Greenspan on Thursday seemed to contradict statements made earlier by other officials of the Fed.


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