European stocks mostly higher at end of record-breaking week
The euro climbed to 1.1208 from 1.1198 late in New York on Thursday.
LONDON(AFP) - Europe s main markets closed mostly higher Friday, with Frankfurt and London hitting new records, rounding off a successful week for European indices thanks to a deal on Greece s bailout and positive company results.
The benchmark FTSE 100 index Friday reached 6,967.24 points, its highest intra-day level on record, before closing essentially unchanged down 0.04 percent to 6,946.66 points.
Frankfurt s DAX 30 ended the week with a new record close, up 0.66 percent to 11,401.66 points. In Paris the CAC 40 gained 0.83 percent to 4,951.48 points, ending the month at its highest level since 2008.
The euro climbed to 1.1208 from 1.1198 late in New York on Thursday.
"Despite the DAX and FTSE 100 having posted several new all-time highs in the past few days. . . many are convinced that markets have still further to go especially as the tensions in Eastern Ukraine appear to be easing a bit and Greece s loan extension has been secured," said Markus Huber, senior analyst at brokers Peregrine & Black.
The parliament in Germany, Europe s largest economy and effective paymaster, on Friday overwhelmingly backed a four-month extension of Greece s bailout programme by international creditors.
The "yes" vote -- which came despite widespread scepticism in Germany over whether Athens will repay its debts -- was expected after Chancellor Angela Merkel s left-right "grand coalition" and small opposition parties all voiced support.
But in Greece, the main stock index closed down 2.67 percent Friday as investors worried about the government s ability to find over 1.5 billion euros ($1.7 billion) to pay the International Monetary Fund next month.
Greek Finance Minister Yanis Varoufakis said Friday in an Antenna TV interview that "at this moment the coffers are empty."
On the corporate front, shares in British Airways owner IAG jumped 3.66 percent closing at 580 pence after reporting surging annual profits thanks to sliding fuel prices and a turnaround at its Spanish carrier Iberia.
"IAG is leaving other airlines in its slipstream after confidently upping 2015 targets -- its solid run comes in the wake of problems for other European flag carriers," said Lewis Sturdy, dealer at London Capital Group
"The stock is up around 80 percent since last summer, a stunning run, and momentum is in its favour."
Lloyds Banking Group meanwhile closed 0.64 percent higher to 79 pence after the state-rescued lender posted its first annual profit since a 2008 bailout by the British government, edging it closer to a return to full private ownership.
In Paris, Airbus Group surged 7.17 percent to end the day at 55.33 euros after its net profit soared in 2014 thanks to record deliveries of passenger jets, while it expects revenue and operating profits to climb further this year.
Among the fallers German chemicals giant BASF slid 1.57 percent to 85.65 euros after the company said the outlook for 2015 was uncertain, in part owing to volatile oil prices.
Wall Street dips
Wall Street stocks fell slightly Friday after a downward revision to fourth-quarter US economic growth came in less severe than expected.
In mid-day trading the Dow Jones Industrial Average slipped 0.16 percent to 18,185.20 points.
The broad-based S&P 500 was essentially unchanged, up 0.01 percent to 2,110.85, while the tech-rich Nasdaq Composite Index edged down 0.15 percent at 4,980.47.
The official estimate of US growth in the October-December quarter was revised to 2.2 percent from the initial estimate of 2.6 percent. A sharper cut had been expected by markets.
In Asian trading, Tokyo advanced 0.06 percent to a fresh 15-year high despite disappointing figures challenging Japan s war on deflation.
Seoul slipped 0.37 percent while Sydney climbed 0.34 percent.
Hong Kong stocks fell 0.32 percent but Shanghai added 0.36 percent ahead of a key meeting next week that investors hope might yield policies to spur economic reforms in China.
