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Cheaper oil lifts European stocks to 6-month high 2 PARIS
director at earnings Published in Saudi Press Agency on 18 - 10 - 2004


tracking firm JCF Group.
Chahine said the negative impact of soaring oil prices should become visible on corporate profit margins in the fourth quarter and throughout 2005, but added this fallout had been largely priced into equity markets' valuation.
Around Europe, London's FTSE 100 index was 0.42 percent firmer, while Paris's CAC 40 gained 0.85 percent and Frankfurt's DAX was 0.62 percent stronger. The Swiss Market Index added 1.18 percent in Zurich.
In Zurich, Swiss banking group UBS was among the top blue chip gainers, up 2.8 percent after a strong showing at its blockbuster wealth management operation and comments that it was on track to do better than last year. --More 0014 Local Time 2114 GMT

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