(MENAFN- AFP) Europe's main stock markets made uncertain gains on Tuesday and the euro steadied at a low level against the dollar, as traders shrugged off geopolitical concerns over Ukraine.
In early afternoon trading, London's benchmark FTSE 100 index was ahead by just 0.03 percent to 6,827.64 points, although Frankfurt's DAX 30 index was showing a gain of 0.42 percent to 9,518.47 points.
The Paris CAC 40 gained 0.18 percent to 4,387.56 compared with Monday's close, although this was slightly down from levels reached in morning trading.
Wall Street stocks opened without clear direction.
The euro sank to $1.3115 - a level last seen on September 6, 2013 - but then firmed to $1.3123 on expectations of signs of monetary easing measures from the European Central Bank (ECB) this Thursday.
- ECB eclipses Ukraine -
"Excitement surrounding the ECB eclipses the situation in Ukraine," said IG analyst David Madden.
On Wall Street, which had been closed for a holiday on Monday, the Dow Jones industrial index opened flat, showing a slight fall of 0.01 percent from the closing level on Friday when it had risen 0.11 percent to 17,098.45 points.
The tech-rich Nasdaq index gained 0.26 percent, having advanced 0.50 percent on Friday to 4,580.27 points.
European stocks had finished on a flat note on Monday, held down by concerns over the Ukraine crisis and by weak manufacturing data.
"Investors are holding onto the outside prospect that the ECB might announce further steps to help boost growth and demand later this week... and this appears to be outweighing any concerns about the war between Ukraine and Russia, thus limiting the downside for now," said CMC Markets analyst Michael Hewson.
French President Francois Hollande and ECB head Mario Draghi have agreed that European demand must be lifted to head off a risk of deflation, French officials said.
The ECB had already cut its key interest rates to record lows and made huge volumes of ultra-cheap cash available to banks in a bid to kick-start lending in the single currency area.
In London, shares in Tesco rebounded 1.78 percent to 229.562 pence.
The British supermarket giant - the world's third-biggest retailer - clawed back some of the recent heavy losses which followed a dire profits warning on Friday.
In Paris, shares in industrial giant Legrand surged following a broker upgrade from Bank of America-Merrill Lynch.
Legrand shares gained 4.18 percent to 43.85 euros, topping the risers board on the French stock market.
Markets mostly rose in Asia, with Tokyo gaining more than one percent as the yen sank against the dollar, while Shanghai was also boosted by hopes China will introduce economy-boosting measures.
- Asia mostly climbs -
Tokyo rallied 1.24 percent as the dollar edged towards the 105 yen level not seen since the start of the year. A weaker yen boosts exporters.
Sydney stocks meanwhile gained 0.51 percent to close at a six-year high, and Shanghai jumped 1.37 percent, while Hong Kong finished flat.
In London currency deals, the dollar climbed to 104.95 yen - the highest level since mid-January - from 104.35 late on Monday as dealers bet on looser monetary policy from the Bank of Japan, analysts said.
The euro was at $1.3123, down from $1.3129 late in New York on Monday.
The single currency gained some ground back against sterling, to increase to 79.40 pence from 79.05 pence late in New York on Monday, but the pound dipped to $1.6526 from $1.6608.
The Swiss franc was about steady at 1.2071 to the euro and at 0.9200 to the dollar, although it fell at one point to 0.9212 to the dollar, the lowest level since November 12, 2013.
The yuan closed at 6.1476 to the dollar from 6.1433.
The price of gold closed at $1,277.75 an ounce, down from $1,286.50 on Monday on the London Bullion Market.
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