LONDON, 14 October 2003 — The euro took a tumble against the dollar here yesterday on comments by European Central Bank head Wim Duisenberg that were seen as an indication of the bank’s uneasiness with the recent rise in the single currency.
The euro in late trading was at 1.1682 dollars, down from 1.1796 in New York on Friday. The dollar was stable against the yen ahead of US President George W. Bush’s visit to Tokyo on Friday. The greenback was 108.98 yen, against 108.69 on Friday.
Meanwhile, European stock markets closed sharply higher yesterday. The British FTSE 100 index gained 1.19 percent to close at a session high of 4,362.3 points, its highest level in more than a year.
The German DAX 30 was up 2.28 percent at 3,550.27 points in late trade while the French CAC 40 climbed 1.64 percent to end at 3,360.34 points.
In New York, the blue-chip Dow Jones Industrial Average was up 92.89 points, or 0.96 percent, at 9,767.57 at midday. The broader Standard & Poor’s 500 Index added 8.93 points, or 0.86 percent, at 1,046.99. The technology-laced NASDAQ Composite Index was up 18.12 points, or 0.95 percent, at 1,933.43.
Asian share markets held firm yesterday. The Philippine Stock Exchange composite index added 39.23 points to 1,384.43, its highest level since April 19 last year, when it ended at 1,401.36.
Oil prices slipped here yesterday.