LONDON, 7 July 2004 — The dollar rose in late European trades yesterday after details within a key gauge of US service sector activity revealed broader strength than suggested by the weak headline figure. The single European currency nonetheless stood at 1.2288 dollars against 1.2277 late on Monday in New York. The dollar nudged up to 109.23 yen from 109.09 on Monday.
The euro was changing hands at 1.2288 dollars from 1.2277 late on Monday in New York, 134.27 yen (133.96), 0.6672 pounds (0.6712) and 1.5173 Swiss francs (1.5181). The dollar stood at 109.23 yen (109.09) and 1.2344 Swiss francs (1.2367).
Meanwhile, European shares remained under pressure yesterday.
The British FTSE 100 index fell by 0.74 percent to 4,370.7 points, the German DAX 30 dropped 1.27 percent to 3,944.88 points and the French CAC 40 shed 0.75 percent to 3,660.68. The DJ Euro Stoxx 50 index of leading euro zone shares lost 0.72 percent to 2,764.89 points.
In Amsterdam, the AEX index lost 1.15 percent to 335.92 points, the Swiss SMI was off 0.69 percent at 5,549.9 points, in Milan the Mib 30 slipped 0.46 percent to 27,952 points, in Madrid the Ibex-35 lost 0.47 percent to 8,022.8 points and in Brussels the Bel-20 closed down 0.62 percent at 2,435.19 points.
In New York, stocks fell yesterday. The tech-laced NASDAQ Composite index fell more than 2 percent to its lowest point in a month.
The Dow Jones Industrial Average was down 67.17 points, or 0.65 percent, at 10,215.66. The Standard & Poor’s 500 Index was down 9.90 points, or 0.88 percent, at 1,115.48. The technology-laced NASDAQ Composite Index was down 41.13 points, or 2.05 percent, at 1,965.53 - its lowest since June 3.
Asian stock markets were mixed yesterday. The Tokyo Stock Exchange’s benchmark Nikkei-225 index lost 66.44 points to 11,475.27.
In Hong Kong, the Hang Seng Index closed up 31.97 points at 12,284.08). In Sydney, the All Ordinaries also set an all-time best, up 17.1 points at 3,551.5.
In Singapore, the Straits Times Index was up 11.82 points at 1,874.57, while the All Singapore Equities Index climbed 2.24 points to 495.24. In Seoul, the composite index closed up 1.75 points at 758.47.
