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Overseas Stocks Mixed; Dollar Little Changed

From Associated Press

U.S. financial markets were closed Monday for Presidents Day.

Stock prices fell in London after achieving records on Thursday and Friday. Shares in Tokyo edged higher.

The dollar was little changed, trading near a 34-month high against the German mark and a three-year high against the Swiss franc on expectations that higher returns of U.S. investments will continue to lure investors, traders said.

The U.S. currency was trading at 124.40 Japanese yen in Europe, up from 124.06 late Friday. Earlier in Tokyo, the dollar was quoted at 124.22 yen, down 0.42 yen from late Friday in Tokyo but the same figure as late Friday in New York.

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The dollar sold for 1.6990 German marks in Europe, up from 1.6851.

In London, the FTSE-100 finished down 3.2 points, or 0.07%, at 4,337.8. Volume was 631.2 million shares, compared with 878.4 million Friday.

In Tokyo, stocks rose for the fifth consecutive day. The Nikkei-225 share stock average gained 28.65 points, or 0.15%, to close at 18,750.65. It has now gained 882.61 points over the last five sessions.

Late profit taking by both domestic and overseas investors brought share prices down from the day’s highs.

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Gold closed in London at $344.00 bid per troy ounce, up from $342.60 on Friday.


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