Stocks extend rally and gold up

LONDON Stocks and gold marched higher but the dollar drifted and oil slumped yesterday amid signs that war in Iraq could be delayed or even avoided altogether.

By (REUTERS)

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Published: Sat 15 Mar 2003, 1:07 PM

Last updated: Wed 1 Apr 2015, 9:01 PM

News that US President George Bush, British Prime Minister Tony Blair and Spanish Prime Minister Jose-Maria Aznar will hold a summit on Iraq in the Azores islands on Sunday helped add to the possibility that war with Iraq could be delayed.

On Friday, European shares opened higher. The British FTSE 100 index rallied 1.92 per cent to 3,553.80 points in late trading, the German DAX 30 index won 3.24 per cent to 2,430.62 points and the French CAC 40 index rose 4.31 per cent to 2,664.82 points.

Share prices also rose in Asia, gaining 1.7 per cent in Tokyo and 1.9 per cent in Hong Kong. After Thursday's rally, US shares drifted higher in opening trading yesterday.


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