LONDON - European stock markets sprinted ahead Thursday on positive corporate news.
In London the FTSE 100 index gained 0.37 percent to close at 4,893.2, while in Paris the CAC 40 added 0.91 percent to finish at 4,015.65. In Frankfurt the DAX climbed 0.54 percent to 4,267.05.
The DJ Euro Stoxx index of leading eurozone issues rose 0.76 percent to 2,993.09.
On the currency market, the dollar surged to a six-month high against the euro here following a report of stronger-than-expected US retail sales in April.
The single European currency in late-day trade was at 1.2713 dollars against 1.2814 late Wednesday in New York. The euro at one point fell to 1.2691 dollars, its lowest reading since November 3, 2004.
"Coorporate results are still very positive," analysts at broker Aurel Leven said.
"In the United States as well as the eurozone companies have managed to preserve their margins despite higher commodity prices and a levelling off in productivity gains."
US stocks nonetheless drifted in a narrow range as Wall Street mulled apparently conflicting data including a strong report on monthly retail sales and disappointing earnings from sector leader Wal-Mart.
The major indexes alternated between small gains and losses for much of the morning. At 1540 GMT, the Dow Jones Industrial Average was down 0.02 percent at 10,298.04.
The tech-heavy Nasdaq composite rose 0.29 percent to 1,977.33.
Before the open, the government said US retail sales jumped 1.4 percent in April, the best gain in seven months, reinforcing hopes that the economy is doing better than first thought.
But a separate report showed US jobless claims rose 4,000 to 340,000 in the week ended May 7, a figure weaker than expected.
To add to the confusion, Wal-Mart, the world's biggest retailer, said its first-quarter profit rose 13.6 percent, but fell short of its own projections as sales were hurt by high gasoline prices.
Moreover, some analysts expressed skepticism over the monthly retail report, and noted that consumers were being squeezed by high fuel costs and other factors.
"Sales in April were not as solid as this (government) report implies," said Wachovia Securities economist Gina Martin.
"Instead, it is more likely that sales are skewed due to timing of the Easter holiday this year... In the face of lower tax refunds toward the end of the tax season and higher gasoline prices, consumers slowed down purchases of discretionary items."
In London British Airways jumped 3.04 percent to 254 pence while chemicals group ICI added 1.85 percent to close at 248. Both companies benefited from a pronounced fall in crude oil prices.
Wal-Mart results weighed on the retail sector, where Tesco shed 1.20 percent to end the day at 307.75 and Morrison gave up 1.97 percent to finish at 186.75.
In Paris BNP Paribas bank surged 3.75 percent to 53.95 after reporting a 56.4 percent rise in net earnings in the first quarter, beating market expectations.
Defense and space group EADS gained 0.54 percent to 22.19 euros on a fall in the euro against the dollar. But analysts voiced pessimism over future prospects in response to a leadership impasse at the group.
Stockmarket operator Euronext shed 2.23 percent to reach 28.13 euros after announcing a six percent decline in first quarter revenues.
In Frankfurt the decline in the euro boosted the auto sector, where BMW gained 1.6 percent to 34.12, Volkswagen rose 1.81 percent to 33.76 and Daimler Chrysler added 0.61 percent to close at 31.27.
Elsewhere share prices rose 0.21 percent to 3,055.43 on the Bel-20 in Brussels, 0.61 percent to 354.92 on the AEX in Amsterdam, 0.71 percent on the SP/Mib in Milan, 0.69 percent to 9,213.1o on the Ibex-35 in Madrid and 0.49 percent to 5,948.73 on the Swiss Market Index.
In Asian trading on Thursday, Tokyo's benchmark Nikkei-225 index closed 0.38 percent lower at 11,077.94 points, continuing the weaker tone as investors remained cautious during the corporate earnings season, dealers said.
Hong Kong's Hang Seng Index ended 0.20 percent higher at 13,968.28 points, helped by falling oil prices, they said.
05/12/2005 18:39 GMT