European Shares Mixed in Light Holiday Trading -- Update

By Tommy Stubbington 

European shares were mixed Wednesday in a holiday-shortened session ahead of the Christmas break.

The U.K.'s FTSE 100 closed 0.2% higher, helped by a 7.7% jump in Smith & Nephew shares. France's CAC 40 fell 0.4%.

Other major markets in Europe were closed.

Shares in Europe have rebounded strongly in the run-up to Christmas, recouping much of the losses made this month as concerns about falling oil prices and a financial crisis in Russia rocked markets.

Investors have been reassured by some solid economic data from the U.S., where the Dow Jones Industrial Average finished above 18000 on Tuesday for the first time.

In currency markets, the euro was a touch higher against the dollar at $1.2201, close to its recent 16-month low.

The ruble was volatile after Standard & Poor's said it was considering cutting Russia's credit rating to below investment grade. The Russian currency swung back and forth before trading 0.3% stronger at 54.65 to the dollar.

Moscow's Micex stock index was little-changed.

In commodities markets, Brent crude oil was down 2.6% at $60.09 a barrel.

Write to Tommy Stubbington at [e-mail]

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