STOCK MARKETS - THE WEEK REVIEWED
Sunday 09 March 1997
In Germany the DAX index rose to a record as the dollar hit a 34-month high against the mark, raising earnings expectations for exporters. Chemical firms including Hoechst, Bayer and BASF were some of the biggest gainers. Car makers including BMW, Volkswagen and Daimler also benefited.
In France, the CAC 40 had its best performance in eight weeks, driven by gains in capital equipment and construction companies on evidence that the economy is picking up.
Stocks also rose in the US, helped by a statement from Federal Reserve Chairman Alan Greenspan that they aren't overvalued as long as earnings live up to expectations. Westinghouse Electric was the biggest gainer, up nearly 14 per cent, while AT&T recorded the biggest fall, down 9 per cent. Copyright: IOS & Bloomberg
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