LONDON, June 16, 2008 (AFP) -
European equity prices showed mixed fortunes on Monday as the price of oil fell amid talk Saudi Arabia will raise output, and investors learned of record high eurozone inflation, traders said.
Among individual share prices, British bank Barclays rocketed after it said that it was considering moves to attract fresh capital by way of offering new shares.
In late morning trading, London's FTSE 100 index of leading shares climbed by 0.17 percent to 5,812.90 points.
Frankfurt's DAX 30 index won 0.12 percent to 6,773.75 points and the Paris CAC 40 index dipped 0.10 percent to 4,677.48 nearing the half-way stage.
The Euro Stoxx 50 index of top eurozone shares dipped by 0.17 percent to 3,556.45 points.
The European single currency jumped to 1.5427 dollars in foreign exchange trading.
Japanese share prices soared by 2.72 percent on Monday, lifted by gains on Wall Street, a drop in oil prices and a weaker yen that benefits exporters, dealers said.
US shares had rallied Friday as crude oil prices fell and a report showing relatively tame "core" inflation eased jitters about runaway prices.
Oil crude futures continued to fall on Monday, to stand slightly above 134 dollars, after the UN chief said top OPEC crude producer Saudi Arabia had agreed to increase output to help cool record high prices.
UN Secretary General Ban Ki-moon, after a weekend visit to Saudi Arabia, said Saudi Oil Minister Ali al-Nuaimi told his kingdom would raise production by 200,000 barrels a day in July on top of a hike of 300,000 barrels made in June.
Global finance officials fear high oil prices pose a threat to world economic growth, while truckers and others in Europe and Asia are holding protests over the rising cost of fuel.
Meanwhile inflation in the 15 countries sharing the euro hit a new record in May, climbing to 3.7 percent over 12 months, amid soaring oil prices, according to the EU's Eurostat data agency on Monday.
Recent record oil and food prices have pushed inflation higher, putting additional strain on consumers and businesses already struggling with slowing economic growth.
In London stock market trading on Monday, the share price of Barclays bank surged by 6.45 percent 338.50 pence.
"Barclays notes recent speculation regarding the possible issuance of new equity by Barclays by way of a placing and pre-emptive offer to existing shareholders," it said in a statement to the London Stock Exchange.
"The board of Barclays confirms this is currently under active consideration. A further announcement will be made in the event that the board of Barclays decides to pursue such an equity issuance."