Eurofirst closes up on weeks trading

Equities markets in Europe closed up on Friday although the FTSE Eurofirst 300 was down 0.2 percent to 1,163.57 on the day.

The FTSE was up 1.1 percent on the week. In Paris, the CAC-40 closed at 4,373.77, a 38-month high. The Xetra Dax in Frankfurt also ended the week at a 38-month high when it closed at 4,712.90.

The biggest individual gainer was French telecommunications group Alcatel, which was up 10.3 percent for the week to €9.92 on second quarter results that were higher than expected.

The company presented its quarterly report two weeks early. Gains on the Nasdaq composite in the United States helped European technology stocks all week.

STMicroelectronics was up 8 percent for the week to €14.77, while Infineon gained 7.3 percent to €8.40 this week and Phillips added 4.9 percent to *22.65.

AMSL even managed an advance of 5.6 percent on the week to €14.06 although it announced on Wednesday that its orders are far below expectations.

Crude oil prices that were down overall for the week sent shares in the oil sector down.

Royal Dutch lost 3.4 percent to €53.45 this week, Statoil was down 3.4 percent to NKr142, and Neste Oil lost 8.1 percent to €22.16 for the week.

Story link: Eurofirst closes up on weeks trading