26 Nov 2010

European markets up despite eurozone debt problems

12:47 pm on 26 November 2010

European markets are up and there are some signs of composure in Europe despite concerns about debt problems in the euro zone and jitters over tensions on the Korean peninsula.

But the cost of Irish and Spain government borrowing rose, indicating jitters remain

The FTSE 100 index in London rose 42 points, or 0.7%, to 5,699 while the DAX in Frankfurt was up 0.8% and the CAC-40 in Paris was up 0.3%.

In the United States, Wall Street is closed for the Thanksgiving holiday.

Earlier, the Nikkei index in Toyko rose 50 points to 10,080. The Hang Seng in Hong Kong finished on 23,054, up 30 points.

The Australian 200 Index was up 9 points to 4593 on Wednesday.

The NZX 50 was down 5 points to close at 3265 on turnover of $47 million.

At 8.20am on Friday, the New Zealand dollar was trading at 76.09 US cents, 77.56 Australian cents, 48.22 pence, 63.52 yen and 0.5686 euro. The Trade Weighted Index was at 68.63.

Brent crude oil was trading at $US86.49 per barrel and gold was trading at $US1373.90 per ounce.