European Stocks Climb, Dax Tops 5,000 | Business| Economy and finance news from a German perspective | DW | 07.09.2005
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European Stocks Climb, Dax Tops 5,000

European stock markets rose for a third day running on Wednesday, boosted by cooler oil prices and positive company earnings, as Frankfurt's exchange topped 5,000 points for the first time in more than three years. The London FTSE 100 index gave up strong morning gains to edge up 0.07 percent at 5,363.10 points in early afternoon trading, while the Frankfurt DAX 30 won 0.32 percent to 4,984.40 points and in Paris the CAC 40 increased by 0.34 percent to 4,487.88. The DJ Euro Stoxx 50 index of leading eurozone shares advanced by 0.29 percent to 3,348.78 points. The German DAX index of 30 blue chip shares briefly topped the psychologically important level of 5,000 points, hitting 5,004.23, before recoiling slightly. Topping the Frankfurt leaderboard was Commerzbank, which jumped 2.08 percent to 22.13 euros ($27.52), after Germany's third-biggest bank said it planned to sell its 10-percent stake in printing machinery maker Heidelberger Druck.

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