Euro stocks edge towards peak
EUROPEAN stocks began to rise again yesterday after two days of declines.
Investors showed some confidence as they awaited a report on consumer confidence in the euro area.
The Stoxx Europe 600 Index added 0.5pc to 339.91 by lunchtime in London – 0.6pc away from its highest level in more than six years which it reached on May 13.
Stocks in Ireland and the UK showed little change. By 2pm in Dublin the Irish Stock Exchange stood at 4,803.95, up 36.91 points or 0.77pc. The main movers during the morning included exploration firm Ormonde Mining, up 17pc, and Bank and Ireland, which rose by more than 4pc. The laggers were Providence Resources and Kenmare Resources, both down by more than 3pc.
In London, the FTSE 100 rose 0.69 points, or less than 0.1pc, to 6,802.69 following its biggest drop in more than a month.
Meanwhile, Asian stocks fell for a fourth day, with the regional benchmark index posting its longest losing streak since January, as the yen strengthened and the Bank of Japan refrained from adding to monetary stimulus.