LONDON, 28 April 2004 — The euro found support against the dollar yesterday as lessened expectations of an imminent rate cut by the European Central Bank weighed more than signs a brighter US jobs outlook is helping lift consumer confidence.
The single European currency rose to 1.1929 dollars from 1.1862 late on Monday in New York. The dollar stood at 109.59 yen against 108.59 on Monday.
Meanwhile, the London FTSE index closed 0.09 percent higher at 4,575.7 points, the Paris CAC 40 eased 0.09 percent to finish at 3,782.09 while in Frankfurt the DAX rose 0.20 percent to 4,134.10. The DJ Euro Stoxx 50 index of leading euro zone shares was fractionally lower, closing off 0.04 percent at 2,884.82 points.
In New York, US stocks rose yesterday. By midday, the Dow Jones Industrial Average was up 72 points at 10,517. The Standard & Poor’s 500 Index was up 8.50 points, or 0.75 percent, at 1,144.03. The technology-focused NASDAQ Composite Index was up 5.67 points, or 0.28 percent, at 2,042.44.
Asian stock markets were mostly lower yesterday. The Tokyo Stock Exchange’s benchmark Nikkei-225 index fell 119.01 points to 12,044.88.