STOCK MARKETS - THE WEEK REVIEWED

The FT-SE 100 rose to a record last week, helped by a stream of robust company earnings reports and rising optimism that interest rates will remain steady in both the UK and US. Better-than-expected-results lifted shares at Glaxo Wellcome, Ladbroke and Arjo Wiggins. BSkyB fell on Friday by as much as 4 per cent after it ended talks with the German media group Kirch on a joint venture in digital TV in Germany. However, it still gained 3 per cent on the week.

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