Europe, Asia Higher
European stock markets were higher on Friday. In London, the Financial Times Stock Exchange-100 gained 1.20 points, or 0.02%, to close at 4923.30. The FTSE dropped back to close flat as the oil price started climbing again. Wall Street also traded flat as the oil and an earnings warning from RadioShack counter broker upgrades to Intel and Apple. The main FTSE supporters were oil stocks, offsetting a weaker Glaxo. Glaxo was the main drag on the FTSE on news the U.S. FDA is deepening its probe into irregularities into Glaxo's Cidra plant in Puerto Rico. Cattles sank after fiscal year 2004 pretax profits rose 15.1% to 141.2 million pounds but warned profits would have been cut significantly under new accounting rules.
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