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CNN Live At Daybreak

International Market Update

Aired January 28, 2004 - 05:15   ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.


CAROL LIN, CNN ANCHOR: Well, there was a drop on Wall Street at the close of business on Tuesday. And this afternoon, the federal panel that sets interest rates will meet.
Let's see if any of this is impacting European financial markets. And for that, we're going to turn Hala Gorani back in London after visiting us stateside.

Morning, Hala.

HALA GORANI, CNN INERNATIONAL CORRESPONDENT: Good morning, Carol.

Well, stock markets across the region are either flat or only slightly higher, and that's after, as you mentioned, a negative session on Wall Street. But you have to keep in mind and in perspective these slight gains. They come in the context of a 12- month surge in some of these stock prices and indices. The Vetzino 100 (ph) is currently flat. The Dax (ph) in Frankfurt and the Kag (ph) 40 in Paris are both up between one quarter of a percent and one- third of a percent, but over the last year they've gained considerably between 15 to 25 percent.

Now, one stock to keep in mind, and one sector, really, to look at in Europe: budget airline RyanAir. It warned on its profits and there is some talk that the European commission might rule that one of its routes is benefiting from illegal subsidies. As a result, investors punishing that stock. Budget Airlines, as it had done so well compared to mainstream airlines in the last few years - RyanAir stock down more than 20 percent.

And to finish off, quick word on the euro. Still near historic highs against the dollar. Euro dollar trading at $1.26 and change.

Carol, back to you.

LIN: All right. Thanks, Hala. You'll be joining us to share some of the headlines from the local newspapers out there in London.

TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com






Aired January 28, 2004 - 05:15   ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
CAROL LIN, CNN ANCHOR: Well, there was a drop on Wall Street at the close of business on Tuesday. And this afternoon, the federal panel that sets interest rates will meet.
Let's see if any of this is impacting European financial markets. And for that, we're going to turn Hala Gorani back in London after visiting us stateside.

Morning, Hala.

HALA GORANI, CNN INERNATIONAL CORRESPONDENT: Good morning, Carol.

Well, stock markets across the region are either flat or only slightly higher, and that's after, as you mentioned, a negative session on Wall Street. But you have to keep in mind and in perspective these slight gains. They come in the context of a 12- month surge in some of these stock prices and indices. The Vetzino 100 (ph) is currently flat. The Dax (ph) in Frankfurt and the Kag (ph) 40 in Paris are both up between one quarter of a percent and one- third of a percent, but over the last year they've gained considerably between 15 to 25 percent.

Now, one stock to keep in mind, and one sector, really, to look at in Europe: budget airline RyanAir. It warned on its profits and there is some talk that the European commission might rule that one of its routes is benefiting from illegal subsidies. As a result, investors punishing that stock. Budget Airlines, as it had done so well compared to mainstream airlines in the last few years - RyanAir stock down more than 20 percent.

And to finish off, quick word on the euro. Still near historic highs against the dollar. Euro dollar trading at $1.26 and change.

Carol, back to you.

LIN: All right. Thanks, Hala. You'll be joining us to share some of the headlines from the local newspapers out there in London.

TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com