Markets solid as US shoppers hit the mall for Black Friday
LONDON (AP) - Europe's squabbling leaders failed to douse the prevailing optimism in the markets this week, with investors hopeful about the start of the United States (US) shopping season and an imminent decision to give Greece billions more in cash to avoid bankruptcy.
Stocks pushed higher through Friday even though a budget summit of European Union (EU) leaders in Brussels broke up without agreement. As has been the case for the best part of this month, investors are more concerned about economic developments in the US and the bailout of Greece than with the finer details of EU agriculture spending.
"We sense a willingness on the part of investors, however cautiously, to pursue some more gains, before the books are closed ahead of the yearly roll," said Mr Herve Goulletquer, an analyst at Calyon.
In Europe, the FTSE 100 index of leading British shares closed up 0.5 per cent at 5,819, while Germany's DAX rose 0.9 per cent to 7,309. The CAC-40 in France was also 0.6 per cent higher at 3,528.