FTSE 100, 250 higher on interest rate decision

| April 5, 2007 | 0 Comments
FTSE 100, 250 higher on interest rate decision

Equities markets in the Asia and Pacific region were mixed on Thursday, with the Australian and Tokyo markets mostly lower on the session but just about everyone else higher. In Singapore, the Straits Times Index added 0.39 percent to 3,345.86, while the Sensex gained 0.54 percent to 12,856.08 in India. In Australia, though, the Sydney Ordinaries dropped 0.26 percent to 6,063.4. Meanwhile in Tokyo, the markets were lower on profit-taking after significant gains on Wednesday. The Nikkei 225 dropped 0.3 percent to 17,491.42, while the Topix index fell 0.6 percent to 1,720.72.

Most of the European markets were nearly static as investors looked forward to the long holiday weekend. The FTSE Eurofirst 300 was up just 0.04 percent to 1,539,43. In Paris, the CAC-40 was also virtually flat, also rising only 0.04 percent to close at 5,741.38. The Xetra Dax in Frankfurt managed to add 0.37 percent to 7,099.91. In London, the FTSE 100 added 0.51 percent to 6,397.3, while the FTSE 250 gained 0.22 percent to 11,915.9. The Bank of England’s Monetary Policy Committee announced that it had decided to hold interest rates at the present level of 5.25 percent for the time being.

At just past midday in New York, the Dow Jones Industrial Average was up 0.1 percent to 12,539.07, while the Nasdaq Composite added 0.3 percent to 2,465.65 and the S&P 500 gained 0.2 percent to 1,441.9.

Oil prices were lower as the 15 sailors who had been held captive by Iran arrived back at Heathrow airport. Heating oil futures were lower, but gasoline and natural gas futures saw price increases on the session. Precious metals prices were higher, with the with the exception of palladium.

Sterling was lower at around noon in London after the Bank of England’s interest rate decision, while the US dollar was flat in early trade against both the euro and the yen.

Yields on government bonds were mixed. UK gilts saw prices rise and yields drop after the Bank of England decision on interest rates, but Eurozone yields were higher. US yields were also higher, while the ten-year Japanese government bond yield was unchanged.

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