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DUBLIN ISEQ 7424.78 Down 1.4% on week Ireland's ISEQ index decreased 34.52, or 0.5%, to 7424.78, for a weekly drop of 1.4%. Biotechnology firm Elan fell 51c to 1165, with brokers advising continued caution. Broker Lehman Brothers told clients that, based on the current share price, the market has already more than fully discounted a return to the marketplace of multiple sclerosis treatment Tysabri and robust product revenues in the future. Crude oil climbed as much as 2.1% to $68.20 a barrel in New York on Friday, affecting shares all over Europe.
LONDON FTSE 100 5672.4 Down 0.7% on week UK stocks fell, posting their second consecutive weekly decline. Telecoms firms, including Vodafone, paced the drop in shares amid concern that pro"tability in the industry will deteriorate.
HSBC led banks lower as oil approached $70 a barrel, raising concern that higher fuel costs will dampen economic growth. Vodafone fell 2.7% to 118p and BT 2.6% to 203.75p. Morgan Stanley last week cut its recommendation on the industry from "attractive" to "in line".
EUROPE Euro Stoxx 50 3343.73 Down 1.4% on week The weekly was the biggest in almost three months, as oil touched $68 a barrel and concern rose about earnings growth in IT and telecoms. Profit growth for firms in the Euro index may average 8.7% this year, down from about 23% in 2005, according to analysts.
NEW YORK DOW 10,667.39, down 2.7% Nasdaq 2247.7, down 3% S&P 500 1261.49, down 2% US stocks fell by the most in more than two years on earnings shortfalls and oil's surge past $68 a barrel. The Dow dropped more than 200 points, with General Electric and Citigroup down after the companies reported results below analysts' estimates.
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YOU ARE HERE: 19 March 2007 / tribune.ie / 2006 / 01 / 22
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