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Date: Friday 22 Aug 2008

LONDON (ShareCast) - Europe’s leading exchanges are trading marginally higher Friday morning, led by energy and banking stocks.

Total, Shell and StatoilHydro are moving ahead after the price of crude oil was back above $120 a barrel in trading on the New York Mercantile Exchange yesterday as tensions between the USA and Russia escalated.

Banks are cautiously higher following yesterday’s steep falls, with Switzerland’s UBS and France’s BNP Paribas, Credit Agricole and Societe Generale all doing well.

Hochtief advanced in Frankfurt on rumours that the German construction giant could be broken up by two of its main shareholders.

The German Dax is 11 points higher at 6,248, the French CAC is up 19 points to 4,324, while the Swiss market rose 6 points to 7,006.

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