European shares climb further (AFP)
In recently morning European trading, the FTSE 100 index of pinnacle companies stood at 5,513.30 points, a gain of 0.29 percent.
Frankfurt's DAX 30 won 0.61 percent to 6,481.50 points and the Paris CAC 40 advanced through 0.94 percent to stand at 4,462.44 nearing the half-way mark.
Paris trading volumes were down, still, owing to a public festival taking fortress in France on Friday.
The Euro Stoxx 50 index of leading eurozone shares climbed by 0.57 percent to 3,375.90 points.
In foreign exchange trade, the euro stood at 1.4716 dollars after slumping earlier Friday to 1.4698 dollars, the lowest quip since February 20.
World oil prices meanwhile fell further on Friday, fault below 113 dollars a barrel in London, in succession the prospect of reduced efficacy demand put on this account that Europe's chief economies are shrinking, dealers said.
Europe's greater stock markets had risen on Thursday, brushing off news of shrinking European economic growth and disappointing US inflation data.
The eurozone economy contracted for the first time evermore, during the second quarter, with outrageous domestic product (GDP) falling 0.2 percent as German growth succumbed to global strains, official premises had showed onward Thursday.
Stock market traders were meanwhile awaiting the publication attached Friday of key economic data in the United States, comprising the University Of Michigan consumer confidence survey and the latest reading on industrial production.
US share prices had closed higher on Thursday as investors showed a fresh appetite for battered financial stocks and as retail titan Wal-Mart announced a big jump in quarterly profits, dealers said.
Investors embarked in succession a shopping spree despite disappointing economic reports that showed inflationary pressures continuing to buffet consumers and a rising trend in claims in the place of unemployment benefits.
European stock markets had slid mid-week being of the kind which the euro tumbled to near six-month lows to match the dollar and on renewed jitters about the health of the world's rise to the top of banks amid slowing economic growth.
Global banking groups JPMorgan Chase and Swiss rival UBS both reported losses owing to their exposure to the crumbling US mortgage market.
The week had begun well for European equities, however, as oil prices slumped.
Original text: http://us.rd.yahoo.com/dailynews/rss/business/*http://news.yahoo.com/s/afp/20080815/bs_afp/stockseurope
