LONDON, 25 October 2005 — The euro rose slightly against the dollar yesterday, rebounding after recent falls, as the market weighed up reports that Ben Bernanke would be named as the successor of Federal Reserve Chairman Alan Greenspan, dealers said.
The euro rose to 1.2011 dollars in late European trading from 1.1949 dollars late on Friday in New York. The dollar stood at 115.22 yen from 115.88 yen on Friday.
In late European trade, the euro was changing hands for 1.2011 dollars from 1.1949 late on Friday in New York, 138.21 yen (138.68), 0.6774 pounds (0.6755) and 1.5431 Swiss francs (1.5443). The dollar stood at 115.22 yen (115.88) and 1.2864 Swiss francs (1.2920).
Meanwhile, European stock markets closed higher yesterday, with the London FTSE 100 index gaining 1.27 percent at 5,207.6 points. In Frankfurt the DAX 30 rose 1.31 percent to 4,901.79, while in Paris the CAC 40 added 1.27 percent at 4,421.97.
In New York, The Dow Jones Industrial Average surged 104.86 points (1.03 percent) to 10,320.08 and the NASDAQ composite advanced 15.08 points (0.72 percent) to 2,097.29 at 1550 GMT. The broad-market Standard and Poor’s 500 index gained 12.00 points (1.02 percent) to 1,191.59.
Asian stocks closed lower yesterday.
Meanwhile, world oil prices fell sharply yesterday. Global energy demand growth in 2006, meanwhile, would be further eroded by the high price of oil, which should however remain above $50 per barrel, the Center for Global Energy Studies said in an influential report.