BERLIN, 24 January 2006 — The euro jumped to a four-month high against the US dollar yesterday after a central banker suggested inflation was rising in Europe and following a sharp decline in American stocks. In early evening in Europe, the 12-nation euro bought $1.2278, up nearly 1-1/2 cents from $1.2137 late Friday in New York. The British pound was up to $1.7846 from $1.7710, while the dollar brought 114.62 Japanese yen, down from 115.26 yen on Friday.
Meanwhile, European stock markets closed weaker yesterday. London’s FTSE 100 index of leading shares fell 0.20 percent to close at 5,660.9, in Paris the CAC 40 fell 0.45 percent to finish at 4,751.99 while in Frankfurt the DAX shed 0.01 percent to end the day at 5,348.72.
In New York, US blue chips rose yesterday. The Dow Jones Industrial Average was up 22.90 points, or 0.21 percent, at 10,690.29. The Standard & Poor’s 500 Index was up 2.43 points, or 0.19 percent, at 1,263.92. The technology-laced NASDAQ Composite Index was down 0.63 points, or 0.03 percent, at 2,247.07.
Asian stocks slumped yesterday.
World oil prices yesterday soared above $69 per barrel for the first time in more than four months, owing to global supply concerns, before easing on profit-taking, analysts and dealers said. New York’s main contract, light sweet crude for delivery in March, hit an intra-day peak of $69.20 — the highest level since Sept. 1, 2005. The contract stood later yesterday at $68.10 per barrel in pit trading, a fall of 38 cents compared with Friday’s close.
In London, the price of Brent North Sea crude for March delivery dropped 49 cents to $65.94 per barrel in electronic deals after a peak of $67.11.
