LONDON, 4 August 2004 — After rising to near six-week highs against the euro, the dollar eased against the single European currency yesterday following a sharp plunge in estimated US consumer spending in June.

The single European currency stood at 1.2061 dollars against 1.2024 late on Monday in New York. The dollar edged down to 110.49 yen from 110.70 on Monday.

In early European trading, the euro had fallen to 1.1994 dollars.

The yen continued to weaken on concerns over the continuing rise in oil prices and another weak showing on Japanese equity markets.

Sterling had slipped in early trades when weak data dashed hopes the Bank of England’s Monetary Policy Committee might hike interest rates by 50 basis points when it meets tomorrow, rather than the 25 points already widely expected.

Meanwhile, European shares moved higher yesterday.

The British FTSE 100 index moved up 0.32 percent to 4,429.7 points, the German DAX 30 rose 0.38 percent to 3,877.32 points and the French CAC 40 climbed 0.75 percent to 3,650.80 points.

The DJ Euro Stoxx 50 index of leading euro zone shares advanced 0.60 percent to 2,712.45 points.

In Amsterdam, the AEX index rose 0.33 percent to 326.93, the Swiss SMI was up 0.92 percent at 5,588.6, in Milan the Mib 30 was 0.33 percent higher at 27,663, in Madrid the Ibex-35 gained 0.29 percent to 7,891.8 and in Brussels the Bel-20 closed up 1.0 percent at 2,495.56.

Record-high oil prices sent US stocks lower yesterday. The Dow Jones Industrial Average was down 22.18 points, or 0.22 percent, at 10,156.81 The Standard & Poor’s 500 Index was down 1.95 points, or 0.18 percent, at 1,104.67. The technology-laced NASDAQ Composite Index was down 15.11 points, or 0.80 percent, at 1,876.98.

Japanese shares fell 0.73 percent yesterday as record high global oil prices and security concerns continued to hit investor confidence, dealers said.

The Tokyo Stock Exchange’s benchmark Nikkei-225 index lost 81.67 points to 11,140.57. The broader TOPIX index of all First Section shares fell 8.61 points or 0.76 percent to 1,127.03.