16 May 2009

Europe stocks up

7:09 am on 16 May 2009

European shares closed higher on Friday, with gains for most banks outweighing losses for defensives such as telecoms.

The FTSEurofirst 300 index of top European shares rose 0.5% to a close of 839.94 points. It had been up more than 1% earlier in the session.

Over the week, the index fell 3.1% but it is up 30% from the lifetime low it hit on 9 March.

In Frankfurt, the DAX index ended at 4737.5 points, down 0.97 or 0.02%. It lost 176.40 points over the week.

In Paris, the CAC-40 index closed at 3169.05 points, up 12.76 or 0.4%. It shed 143.54 points since last weekend.

In London, the FTSE 100 index of leading shares was down 0.33% at 4,348.11 points.