Euro bourses rally, markets await Greenspan

Euro bourses rally, markets await Greenspan

LONDON, FEBRUARY 23: European bourses were higher at the mid-session with technology, media and telecoms stocks heading the gainers under the spotlight of the Cebit computer fair in Hanover. But investors were waiting to see how Wall Street wouldreact to comments on monetary policy due later from US Federal Reserve Chairman Alan Greenspan.

Shares in energy companies fell as oil prices, which have trebled since producer cutbacks started last year, were seen to have peaked. By 1342 GMT the April Brent crude oil future was up 4 cents at $26.62 after reaching a high of $26.65. Recently-soaring palladium prices dipped after the Tokyo Commodity Exchange said it would only permit futures trading in the precious metal at Wednesday's closing prices. The move, which appeared aimed at forcing traders to liquidate their huge long positions and ease market tightness, pushed palladium in London down to $760 an ounce bid, from earlier levels of $ 800.