European stockmarkets shrug at weak Asian session

25/04/2015 01:57 AST

European stocks are shrugging off a mixed Asian session and looking to end the week on a firm note, inspired by Wall Street's flirtation with fresh record highs.

The FTSE Eurofirst 300 is bolstered by strength in miners after China-traded iron ore futures continued to rally off recent lows, at one point bouncing by the daily limit of 4 per cent, global markets commentator Jamie Chisholm writes.

Energy shares are also firmer after Brent crude on Thursday rose more than 3 per cent to its highest settlement since December. Brent is currently easing by 13 cents to $64.72 a barrel.

Also supporting the continent's bourses is New York's overnight advance. The Nasdaq Composite closed 0.4 per cent higher at 5,056.1, finally beating its tech-boom closing peak of 5,049 set in March 2000. The benchmark S&P 500 gained 0.2 per cent to finish at 2,113, after brushing a fresh all-time intraday high of 2,120.5.

Index futures suggest the S&P 500 will add one point to 2,114 later in New York, helped by favourable out-of-hours share price reactions to the results from Amazon, Google and Microsoft, that were all released after Thursday's closing bell.


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