LONDON, 2 March 2006 — The dollar reversed early losses yesterday to climb higher against the euro during the European trading session, boosted by better-than-expected ISM manufacturing data for February, dealers said.
The euro fell to 1.1896 dollars in late European trading from 1.1921 dollars in New York late on Tuesday. The dollar firmed to 116.20 yen from 115.74 yen on Tuesday.
European stock exchanges advanced yesterday, with the London FTSE 100 index gaining 0.91 percent to close at 5,844.1. In Paris the CAC 40 rose 1.14 percent to 5,057.61 while in Frankfurt the DAX added 1.22 percent to reach 5,866.61.
In New York, the blue-chip Dow Jones Industrial Average came back above the 11,000 mark, rising 58.28 points (0.53 percent) to 11,051.69 at 1630 GMT. The tech-heavy NASDAQ rallied 23.05 points (1.01 percent) to 2,304.44 while the broad-market Standard and Poor’s 500 index added 7.24 points (0.57 percent) to 1,287.90.
Asian stocks closed mixed yesterday.
World oil prices climbed yesterday. The main New York contract, light sweet crude for delivery in April, added 39 cents to $61.80 per barrel in pit deals. In London, the price of Brent North Sea crude for April delivery won 31 cents to $62.07 per barrel in electronic trade.