Europe Higher, Asia Lower

European markets were higher Tuesday with Germany's Dax reaching a near three-year high after higher than expected industrial production numbers; Asian markets were lower after a rally in the yen against the dollar

European stock markets were higher on Tuesday. In London, the Financial Times-Stock Exchange 100 index rose 44.80 points to 5025.20 as July Brent crude oil futures fell. Bonds rose on Greenspan assurances about low long term rates. Yields on 10-year gilts fell to 4.22% from 4.26% yesterday. There was little reaction to a report BRC retail sales index fell 2.4% year on year in May after skidding 4.7% in April. 86 FTSE stocks rose, 13 fell on turnover of 1,529,000,000 shares. Sterling was up at $1.8339. Diageo rose after agreeing to buy Bushmills whiskey brand. Shire Pharmaceuticals rose after Smith Barney initiated coverage with a "buy" recommedations. GW Pharmaceuticals plunged as U.K. regulators rejected company's appeal to win immediate approval for its cannabis-based Sativex drug for multiple sclerosis patients.

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