Wednesday, July 20, 2011

FTSE rises 0.65 percent at close (AFP)

LONDON (AFP) ? London stock markets closed higher on Tuesday, as investors snapped up bargain shares but remained on edge over the eurozone debt crisis which has pushed Italian and Spanish bond yields up to danger levels.

The FTSE 100 index of top shares rose 0.65 percent to 5,789.99 points.

In Frankfurt, the DAX gained 1.19 percent to 7,192.67 points while in Paris the CAC 40 rose 1.21 percent to 3,694.95 points.

Safe-haven gold surged to another record high at $1,610.10 per ounce on Tuesday morning, as investors sought shelter from the eurozone debt storm, which will be tackled at a Brussels summit on Thursday.

European markets had plunged on Monday as investors expressed deep concern over recent EU stress tests which failed just eight out of 91 financial institutions -- and did not assess the impact of a sovereign default.

In London, Lloyds was the most traded stock of the day with 221 million shares changing hands, followed by Royal Bank of Scotland, which saw 112 million shares switch owners.

Lloyds was also the best blue-chip performer, rising 4.34 percent (1.8 pence) to finish at 43.14. It was followed by chemicals group Johnson Matthey, which rose 4.02 percent (78 pence) to close at 1,575.

Technology firm Autonomy led the losers, slipping 1.56 percent (27 pence) to close at 1,703. It was followed by Standard Chartered Bank, which was down 1.35 percent (21.5 pence) to finish at 1,575.

On the currency markets, a pound was worth 1.6133 dollars or 1.1404 euros at 1717 GMT.

Source: http://us.rd.yahoo.com/dailynews/rss/eurobiz/*http%3A//news.yahoo.com/s/afp/20110719/wl_uk_afp/stockseuropeclose

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