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Closing stock market indices outside the U.S.
Published in Saudi Press Agency on 20 - 09 - 2005

Here is how major stock markets outside the United States ended on Wednesday.
LONDON - Britain's FTSE 100 index closed lower for a second straight session, tracking weakness in global markets on fears of more U.S. interest rate rises, but gains in BP on high oil prices capped losses. The blue chip FTSE index ended 46.7 points, or 0.86 percent, weaker at 5,369.7 points, adding to Tuesday's 13.3 point fall when it failed to hold onto four-year highs.
EUROPE - European shares fell 1.04 percent, retreating from 40-month highs as Hurricane Rita intensified off the southeastern United States, forcing oil prices upwards and hitting U.S. stocks. A growing fear of more U.S. interest rate rises added to nerves as crude prices surged to around $68 a barrel before slipping back somewhat when inventory data showed gasoline stocks had unexpectedly risen. The higher cost of the chemical industry's most crucial raw material knocked the DJ Stoxx chemicals sector index 1.6 percent as profit margins were threatened. "European chemical stocks are moving closer to fair values at present, and a further increase in the oil price could see them fully valued at current levels," said BayernLB analyst Michael Butscher, adding that demand for chemicals remained good. Shares in industry bellwether BASF were down 2.3 percent at 59.00 euros, Bayer was down 2.4 percent at 29.85 euros, Ciba was down 2.0 percent, Clariant fell 1.9 percent, Syngenta dropped 1.0 percent and Akzo Nobel lost 1.6 percent. The pan-European FTSEurofirst 300 index closed 1.04 percent lower at 1,205.39 points after ending at a 40-month high in the previous session. The index had risen about 1.5 percent in the past five sessions.
--More 2208 Local Time 1908 GMT


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