LONDON, 1 September 2005 — The dollar slid lower as concerns about growth in the US economy deepened after disappointing economic news and amid sky-high oil prices.

The euro rose sharply to 1.2330 dollars in late European trading from 1.2219 late on Tuesday in New York. The dollar slid to 110.84 yen from 111.20 on Tuesday.

The euro was changing hands at 1.2330 dollars against 1.2219 late on Tuesday in New York, 136.72 yen (135.91), 0.6846 pounds (0.6842) and 1.5476 Swiss francs (1.5509). The dollar stood at 110.84 yen (111.20) and 1.2544 Swiss francs (1.2689).

Meanwhile, European stock markets closed higher yesterday.

The London FTSE 100 index gained 0.78 percent at 5,296.9 points, in Frankfurt the DAX 30 advanced 0.79 percent to 4,829.69 and the Paris CAC 40 surged 0.98 percent to 4,399.36. The DJ Euro Stoxx 50 index of leading euro zone shares rose 0.92 percent to 3,263.78.

In New York, Wall Street share prices moved up in choppy trade yesterday. In late morning trade, the Dow Jones Industrial Average stood at 10,422.05, up 9.23 points or 0.09 percent. The NASDAQ composite was 4.51 points (0.21 percent) higher at 2,134.27.

Asian stocks closed flat yesterday. In Tokyo, the Nikkei-225 index fell 39.54 points to 12,413.60. In Seoul, the KOSPI index closed up 10.72 points at 1,083.33. In Hong Kong, the Hang Seng Index closed down 18.67 points at 14,903.55.

In Bombay, the 30-share Sensex index rose 60.43 points to 7,805.43.