Rallying miners, techs help Europe stocks end higher
PARIS, Feb 8 (Reuters) - European stocks ended higher on Friday, helped by rallying tech and mining shares, but fears over the fate of U.S. bond insurers dragged banking shares lower.
The FTSEurofirst 300 index of top European shares unofficially closed 0.5 percent higher at 1,303.33 points. The index lost 3.7 percent on the week.
News that Moody's Investors Services cut its "AAA" ratings for bond insurer XL Capital Assurance, a unit of Security Capital Assurance SCA.N, heightened fears of more writedowns for banks.
French bank Credit Agricole (CAGR.PA: Quote, Profile, Research) lost 4.1 percent, UniCredit (CRDI.MI: Quote, Profile, Research) dropped 2.6 percent and BNP Paribas (BNPP.PA: Quote, Profile, Research) shed 2 percent.
Mining shares gained ground, rising along with buoyant base metal prices. Anglo American (AAL.L: Quote, Profile, Research) gained 3.5 percent and Rio Tinto (RIO.L: Quote, Profile, Research) added 2.1 percent.
Tech shares were also on the rise, reversing some of their recent sharp losses. Nokia (NOK1V.HE: Quote, Profile, Research) rose 3.1 percent and Ericsson (ERICb.ST: Quote, Profile, Research) gained 3.3 percent. (Reporting by Blaise Robinson; Editing by David Holmes)
© Thomson Reuters 2009 All rights reserved
One Year Later
Mumbai held tearful memorials and police staged a show of strength as it marked the first anniversary of militant raids that killed 166 people and ratcheted up tensions with Pakistan. Slideshow | Full Coverage
Liberhan Commission Report
The government published a long awaited report, recently leaked, accusing BJP leaders of a role in the 1992 destruction of the Babri mosque in Ayodhya. Full Article
