US stocks fell for the final three days of the week on renewed concerns that interest rates could be raised next month for the second time this year. Tobacco shares were weak on Friday after a federal judge ruled that the Food and Drug Administration has the power to regulate tobacco. This could weaken the tobacco companies bargaining position in settlement negotiations. IBM gained more than 9 per cent after reported strong earnings showing the benefits of the move into services and smaller computers.
In Germany, the DAX index rose 29.7 points, or 0.9 per cent to 3374.10. The market tracked Wall Street most of the week. Stocks fell on Friday on concern ahead of the G7 meeting this weekend that the dollar's gains in the first four months of this year have stalled. Export companies benefit from mark weakness against the dollar. Copyright: IOS & BloombergReuse content