Created: May 18, 2007 11:00 AM
LONDON - Britain's FTSE 100 index rose 0.3 percent as heavyweight oil shares Shell and BP were lifted by merger talk, but miners fell on lower copper prices. The FTSE 100 closed up 19.8 points at 6,579.3, ticking up at the end of a largely subdued trading session.ROUNDUP:EUROFIRST<Kz9.5b0>EUROPE - European shares ended a touch higher, boosted by oil stocks as crude rose and take-over talk circulated, while miners helped cap gains after copper prices sank.
Britain's FTSE 100 index rose nearly one percent to its highest close since September 2000 as oil shares surged on talk of sector consolidation and miners gained on firmer metal prices. The UK benchmark index closed up 61.6 points, or 0.94 percent at 6,640.9, for a weekly gain of 75.2 points.ROUNDUP:EUROFIRSTEUROPE - European shares ended the session at their highest close in six and a half years, boosted by oil producers and banks as merger and acquisition talk rippled through the market. Among major movers, Julius Baer jumped after a source said UBS would soon sell its 20 percent stake in the Swiss private bank, while British Airways fell after admitting it broke price-fixing laws.
The FTSEurofirst 300 index of top European shares ended up one percent at 1,600.3, its highest close since December 2000 and up 1.2 percent for the week.ROUNDUP:EUROmarketsFRANKFURT - The DAX index ended at 7,607.54 points, up 108.04 or 1.44 percent and up 128.20 points since last weekend.
PARIS - The CAC-40 index closed 6,101.14 points, up 74.14 or 1.23 percent, gaining 50.51 points on the week.
ZURICH - The Swiss market index closed at 9,424.69 points, up 67.16 or 0.72 percent, adding 16.44 points since last Friday.
MILAN - The All Share Mibtel index closed at 34,365 points, up 297 or 0.87 percent and a gain of 541 points on the week.ROUNDUP:nikkeiTOKYO - The Nikkei average shed 0.57 percent as investors hit by a slump in small-cap stocks booked profits in recent gainers in the index, including steel shares such as Nippon Steel Corp. The Nikkei closed down 99.02 points at 17,399.58, its lowest close since May 2. On the week, the index lost 154.14 points.ROUNDUP:hang sengHONG KONG - Stocks fell 0.43 percent, tracking weaker Shanghai-listed stocks, as the prospect of further monetary tightening by China sent mainland commodity and financial plays lower. The market pared the morning's losses as buyers rushed in late in the session, helping the benchmark Hang Seng Index to end at the day's high of 20,904.84, down 89.77 points. For the week, the Hang Seng was up 436.63 points, the sharpest in nearly two months.ROUNDUP:asxSYDNEY - Shares fell 0.84 percent, losing steam after a record close in the previous session, with the top miners leading declines following a slide in base metal prices. The benchmark S&P/ASX 200 index lost 53.4 points to 6,312.5, easing from a record closing high of 6,365.9 in the previous session. The index inched up 15.1 points on the week.ROUNDUP:south africaJOHANNESBURG - Stocks closed stronger, boosted by China's lower than expected rate hike which saw miners BHP Billiton and Anglo American soar over two percent. The All-share index closed at 28,331.45 points, up 447.09 or 1.60 percent, but falling 340.03 points in the week. The All Gold index closed at 2,721.83 points, up 50.93 or 1.91 percent, but shedding 7.66 points since last weekend. The Industrial index closed at 19,673.6 points, up 313.78 or 1.62 percent.
