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Reuters
London, May 6: Hopes of an end to the Kosovo conflict and a sharp rebound in the Dow on Wednesday helped European shares climb in early dealings on Thursday. Conglomerates, energy, techs, autos and media were strongest, while some of the economy-sensitive sectors lagged the broader market, though still notching up some gains.
"It's mainly the Dow ending up after being down when Europe closed yesterday, and there is a little bit better feel on the Serbian war," said James Cornish, European economist at BT Alex Brown. "We had good results from Endesa which has helped Spain, and the French second-quarter manufacturing survey from Insee was positive after a weak first quarter," Cornish said. "All this reinforces the feeling the European economies are gradually picking up." Endesa, Spain's biggest power utility, posted better-than-expected results, but there was some uncertainty about the company's Chilean assets.
Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.
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