Business | Markets
European and Asian shares relatively stable
European sharemarkets opened higher during early trading on Friday, with Asian markets relatively stable.
- Agencies
- Published: 12:30 October 17, 2008
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- Subprime woes could still hit Gulf
- 'UAE banking remains resilient'
- Fears of recession grow
- Investors expected slump in markets
- Gulf shares fall for a second day on speculations about global recession
Dubai: European sharemarkets opened higher during trading on Friday, with Asian markets relatively stable.
London's FTSE, Paris's CAC-40 and Frankfurt's DAX were four percent higher in early trading.
Japan's Nikkei closed up 2.8 per cent, recovering from its 11 per cent slump on Thursday.
South Korea's Kospi closed 2.7 per cent, and Australia's All Ordinaries closed down 1.1 per cent.
Hong Kong's Hang Seng was even in afternoon trading, while the Taiwan Weighted was down 2.3 per cent.
Mumbai's BSE Senses was down about a per cent, and Singapore Straits Times pushed into positive territory, gaining half a per cent.
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