MW: European shares in tight range, Allianz shares jump
By Sarah Turner
LONDON (MarketWatch) -- European shares traded in a tight range on Friday morning, as gains from the insurance sector offset some losses for utility stocks. Allianz jumped 8.5% in the insurance sector after news that the sale of Dresdner Bank to Commerzbank will be concluded early. Commerzbank shares jumped 15.8%. Overall, the U.K. FTSE 100 index climbed 0.2% to 4,238.36, the German DAX 30 index rose 0.3% to 4,679.71 and the French CAC-40 index dipped 0.3% to 3,239.61.
