European shares stable in subdued trade

0 Comments | AFP, August, 2008

LONDON (AFP) — European stock markets steadied on Thursday in subdued trade that focused on the banking sector after overnight gains in New York and earlier in Tokyo, dealers said.

London's FTSE 100 index of top shares rose 0.21 percent to stand at 5,539.90 points in late morning trade.

In Paris the CAC 40 won 0.06 percent to 4,375.55 points, while Frankfurt's DAX 30 slipped 0.16 percent to 6,310.97 near the half-way stage.

In the foreign exchange market, the European single currency climbed to 1.4765 dollars.

Wall Street swung higher Wednesday as an upbeat report on orders for big-ticket manufactured goods helped offset worries about the economic outlook and a big jump in oil prices.

Japanese share prices edged higher on Thursday as many...