Euro markets wobble over Greece crisis

NEW YORK - Stocks are trading in a narrow range on Thursday after a fresh batch of economic reports showed the economy continues to slowly regain its strength.

The slightly positive reports on inflation, jobless claims and leading indicators are being tempered by fresh concerns about debt problems in Greece.

Stocks have steadily moved higher over the past five weeks on similar economic reports, although the data hasn't shown signs of strong growth.

In late afternoon trading, the Dow Jones Industrial average was 34.31 points higher, by 0.32 per cent, at 10,767.98. The Standard & Poor's 500 index had fallen 1.85, by 0.16 per cent, at 1,164.36, while the Nasdaq composite index was 0.59 lower, by 0.02 per cent, at 2,388.5.

The Dow is looking to close higher for the eighth straight day.

LONDON - European stock markets wobbled on investor unease over ineffectual EU efforts to resolve a debt crisis gripping Greece.

The mining sector came under particular pressure as the dollar firmed against the euro, with the Greek turmoil taking a toll on the single European currency.

The London FTSE 100 index slipped 0.04 per cent, by 2.01 points, to close at 5,642.62 points after having at one point risen to a 20-month high.

FRANKFURT - The Dax lost 11.97 points, or 0.20 per cent, to end the session at 6,012.31 points.

PARIS - The CAC 40 fell 19.71 points, or 0.50 per cent, to 3,938.18.

TOKYO - Japan's Nikkei average fell one per cent, off a two-month high hit the previous day, as property stocks like Mitsui Fudosan retreated on a brokerage downgrade and recent gainers like Canon lost ground.

A fall in the euro accelerated profit-taking in Japanese stocks, market players said, after a report saying Greece is not hopeful of aid from the March 25 European Union summit and it may seek aid from the International Monetary Fund in April.

The benchmark Nikkei lost 102.95 points to 10,744.03, falling from a two-month intraday high of 10,864.30 struck on Wednesday.

Nikkei futures and options contracts expiring in March have settled at 10,808.73, a figure that market players watch closely for clues on the future direction of the market.

The broader Topix index fell 0.7 per cent to 940.79.

HONG KONG - Hong Kong stocks fell 0.25 per cent on Thursday took profits from the previous day's gains.

The benchmark Hang Seng Index was 53.82 points lower at 21,330.67. Turnover was $HK61.75 billion.

Sentiment was hit after a senior Greek official said Athens may seek financial help from the International Monetary Fund as it holds out little hope for aid next week from the European Union.

A statement from the China Banking Regulatory Commission also stoked fears as it called on the country's rural financing institutions to be alert when lending.

Chinese shares closed 0.14 per cent lower with sentiment stymied by persistent concerns over government credit-tightening measures, dealers said.

The Shanghai Composite Index, which covers both A and B shares, was down 4.39 points to 3,046.09 on turnover of 108.5 billion yuan.

WELLINGTON - The New Zealand sharemarket rose even though the share price of market heavyweight Telecom languished near an all-time low set on Wednesday.

The benchmark NZX-50 index closed up 19.727 points, or 0.616 per cent, at 3,220.686. Overall, there were 47 rises and 46 falls among the 110 stocks traded, on turnover worth $NZ79.5 million ($A61.49 million).

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