Euroshares open higher after late Dow gains, Peugeot gains on FY sales news |
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Tue, 08 Jan 2008 09:12
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LONDON (Thomson Financial) - Leading European exchanges moved higher in opening deals as the US held onto gains in closing deals yesterday and with an in-line update from Peugeot helping to reassure nervous investors.At 08.10, the STOXX 50 was up 19.88 points at 3613.51 and the STOXX 600 was up 2.35 points at 353.62.Last night, the DJIA ended 27.31 points, or 0.21 pct higher, at 12,827.49, after moving in and out of positive territory throughout the session as investors grew more confident that the Federal Reserve will lower interest rates again later this month to ward off recession.The market also contended with a resurgence of tension between the U.S. and Iran.The tech-focused Nasdaq composite index fell 5.19, or 0.21 pct, to 2,499.46.Over in Asia, Japan's Nikkei 225 closed up 28.12 points, or 0.2 pct, at 14,528.67. In Hong Kong, the Hang Seng finished the morning up 283.34 points or 1.04 pct at 27,462.83.Oil prices were higher in Asian morning trade Tuesday, rebounding from overnight falls in New York on concerns over the United States economy.New York's main contract, light sweet crude for February delivery gained 52 cents to 95.61 usd a barrel from 95.09 in late US trades Monday.Brent North Sea crude for February was up 50 cents at 94.89 dollars a barrel.Prices had briefly risen in US trading hours after the Pentagon said three US warships had been briefly harassed on Sunday by Iranian speedboats in the Strait of Hormuz, a crucial gateway for global energy supplies.Back in Europe, Peugeot added 1.46 pct after the group reported an in-line set of full year sales figures. The French car group said it is expecting 5 pct growth in sales in 2008 -- also in line with market expectations.'This update is unlikely to cause any significant change to consensus numbers but the stock may see some relief after its recent plummet,' said a trader at a leading European brokerage.deborah.hyde@thomson.comdlh/ejbCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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Peugeot picks Kaluga for new production site in Russia UPDATE 