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US equities up while Europe down

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by Brian Turner
US equities up while Europe down

In equities trading on Monday, European and Japanese markets were mostly down while New York opened on an up note.

At mid-day in New York, The Dow Jones Industrial Average was up 0.6 percent to 10,197.69, while Nasdaq rose 0.3 percent to 1,983.51 and the S&P 500 rose 0.5 percent to 1,159.56.

Despite these gains, the oil sector took a hit on falling crude oil prices. Exxon Mobile, the largest US oil producer, fell 1.5 percent to $52.91. Oil refiner Valero Energy was the biggest loser on the S&P 500, falling 5.5 percent to $58.38.

Meanwhile, in early trading in London, the FTSE 100 was down 0.2 percent to 4,877.7, while the FTSE 250 rose 0.1 percent to 6,802 on falling global commodity prices and light trade. Mining companies too a particular hit.

The FTSE Eurofirst 300 fell 0.4 percent to 1,073.37 on falling crude oil prices, with the oil sector falling pretty much across the board.

In Tokyo, new fears about the political situation in China and on anticipation of gross domestic product data due out Tuesday, the Nikkei 225 fell 0.9 percent to 11,045.29, while the Topix index was down 1 percent to 1,133.66.

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News posted: May 16, 2005

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