Euro Climbs as Stocks Dip in US, Europe

LONDON, 17 October 2003 — The euro climbed against the dollar here yesterday on concerns that President George Bush’s upcoming Asian visit will produce more pressure on the US currency.

The euro in late-day deals was at 1.1666 dollars, up from 1.1635 on Wednesday in New York. The dollar was trading meanwhile at 109.34 yen after 109.51 on Wednesday.

Meanwhile, European stocks turned weaker yesterday, with the London FTSE 100 index giving up 0.67 percent to finish at 4,339.7 points.In Paris the CAC 40 fell 0.52 percent to 3,357.49, while in Frankfurt the DAX was down 0.90 percent at 3,538.38 in mid-afternoon trade.

US blue-chip stocks fell yesterday. The blue-chip Dow Jones Iindustrial Average fell 51.78 points, or 0.53 percent, to 9,751.27. The broader Standard & Poor’s 500 Index was off a scant 0.33 points, or 0.03 percent, at 1,046.43. The technology-laced NASDAQ Composite Index edged up 2.08 points, or 0.11 percent, to 1,941.18.

Asian share prices were mostly higher yesterday. The Tokyo Stock Exchange’s Nikkei-225 index gained 125.20 points to end the day at 11,025.15, popping above 11,000 on a closing basis for the first time since Sept. 18. The broader Topix index of all first-section shares closed up 10.55 points, or 0.98 percent, at 1,090.85, a 16-month high.