LONDON, 10 January 2004 — The enfeebled dollar limped to a new lifetime low against the euro yesterday on news of a much smaller than expected recovery in US employment during December.

The single European currency spiked up to 1.2853 dollars, from 1.2728 shortly before the figures were released. It later stood at 1.2816 dollars. The rally sent the euro smashing through its previous all-time record of 1.2811 dollars set on Tuesday.

Oil prices gushed up to levels not seen since before the Iraq war yesterday on worries that a cold snap in the United States will drain oil stocks already languishing at a quarter-century low. The price of reference Brent North Sea crude oil for February delivery jumped 52 cents to $31.60 per barrel in London, levels not seen since mid-March.

New York’s benchmark light sweet crude February contract advanced 48 cents to $34.46 per barrel.

Meanwhile, European stock markets closed lower yesterday, with the London FTSE 100 index easing 0.62 percent to 4,466.3. In Paris the CAC 40 index gained 0.50 percent to finish at 3,574.80, while in Frankfurt the DAX closed at 4,016.18, down 0.72 percent.

The NASDAQ Composite Index rose 9 points, or 0.47 percent, to 2,110, a day after hitting its highest close since July 3, 2001.

The blue-chip Dow Jones industrials lost 51 points, or 0.49 percent, to 10,540, a day after their highest finish since March 19, 2002. The Standard & Poor’s 500 shed 2 points, or 0.18 percent, to 1,129, after hitting its highest level since April 2, 2002, on Thursday.

Asian stocks ended a volatile week on a positive note yesterday. The Tokyo Stock Exchange’s Nikkei-225 index gained 127.40 points at 10,965.05, its highest finish since Oct. 21, 2003, while the broader Topix index of all First Section shares rose 8.86 points or 0.8 percent to 1,065.78. Over the week, the Nikkei rose 2.7 percent and the Topix gained 2.1 percent.

In Hong Kong, the key Hang Seng Index gained 182.21 points to close at 13,385.80.

In Sydney, the benchmark SP ASX 200 index closed up 3.7 points or 0.11 percent at 3,301.6, while the All Ordinaries index added 2.5 points at 3,307.1.

Indian stocks rocketed to a record high in euphoric trade, dealers said. The Bombay Stock Exchange’s 30-share index rose 2.30 percent or 141.06 points to hit 6,249.60. The previous all-time high was 6,150.69 seen in February 2000.