Paris shares close up, but off highs as US housing data weighs

[NVMojo]

September 25, 2006
PARIS (AFX) - Share prices closed slightly higher, recovering from Friday's steep losses but retreating from peaks late in the session after fresh US data reinforced expectations of a housing market slowdown, which many investors fear could have an impact on the rest of the American economy, dealers said.

The CAC-40 index finished up 4.54 points at 5,146.49, on volume of 4.1 bln euro.

Among CAC-40 stocks, 24 closed higher, 12 closed lower and 4 ended unchanged. October CAC-40 futures were trading 7.5 points firmer at 5,162.

Dealers said the uncertain US economic outlook will continue to dominate sentiment on the French market, especially with today's data pointing to a reversal of the buoyant housing market, seen as a key pillar of growth in recent years.

An American realtors association reported this afternoon that the median selling price for homes in August fell to 225,000 usd from 230,000 in July, marking the fist year-to-year median price decline since 1995.

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http://www.forbes.com/markets/feeds/afx/2006/09/25/afx3042854.html