Dow reaches new record; European markets see gains

| April 25, 2007 | 0 Comments
Dow reaches new record; European markets see gains

Equities markets in Asia were mixed on Wednesday. While the Sensex was 0.57 percent higher to 14,217.77 in India, the Hang Seng index in Hong Kong dropped 0.18 percent to 20,536.78. Tokyo markets were down by much more. The Nikkei 225 dropped 1.2 percent to 17,236.15, its lowest close in three weeks, while the Topix index was down 1 percent to 1,687.34. The Australian markets were closed for the Anzac Day holiday.

The markets were higher in Europe on the session. The Eurofirst 300 gained 0.59 percent to 1,573.36, while the Dax was 1 percent higher to 7,343.08 in Frankfurt and the Paris CAC-40 added 1.04 percent to 5,947.33. The London markets also up, with the FTSE 100 was 0.5 percent higher to 6,461.9, while the FTSE 250 gained 0.74 percent to 11,904.2.

At midday on Wall Street, the markets were higher after the Dow Jones Industrial Average breached the 13,000 level for the first time in its history. The Dow was 0.45 percent higher by the middle of the session to 13,012.69, while the Nasdaq Composite had added 0.44 percent to 2,535.7 and the S&P 500 was up 0.48 percent to 1,487.58.

In the commodities markets, crude oil prices rose on a surprise decline in US gasoline inventories, even though crude oil stockpiles rose when they had been expected to drop. Metals prices were mixed at midday in New York.

The euro made gains after a German survey of business sentiment was up more than expected in March. The European currency was near a two and a half year high versus the US dollar.

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