Global markets higher

| May 31, 2007 | 0 Comments
Global markets higher

Equities markets in Asia and the Pacific were higher on Thursday. The Straits Times index in Singapore added 0.47 percent to 3,511.13. In India, the Sensex gained 0.92 percent to 14,544.46, while in Australia the Sydney Ordinaries were 1.12 percent higher to 6,341.8. The Hang Seng index in Hong Kong closed at 20,634.47, a gain of 1.68 percent on the session. In Tokyo, meanwhile, the Nikkei 225 was up 1.6 percent to 17,875.75 and the Topix index added 1.3 percent to 1,755.68.

European markets were also higher on the session. The FTSE Eurofirst 300 gained 0.72 percent to 1,610.66, and continental markets made substantial gains. The Paris CAC-40 added 1.02 percent to 6,104, while the IBEX was 1.16 percent higher to 15,313.5 in Madrid and the Xetra Dax in Frankfurt gained 1.52 percent to 7,883.04. The London markets saw gains as well, but not to the extent they were seen on the continent. The FTSE 100 gained 0.11 percent to 6,609.6, while the FTSE 250 was 0.69 percent higher to 12,105.7

In New York, markets were higher at midday on takeover news after gross domestic product figures came in weaker than had been hoped. The Dow Jones Industrial Average added 0.25 percent to 13,666.89 after reaching a new high of 13,673.07 in morning trade. The Nasdaq Composite was up 0.55 percent to 2,606.76, while the S&P 500 had gained 0.22 percent to 1,533.64.

After rising initially, crude oil prices were lower after the weekly US inventories report form the Energy Information Administration. Crude oil stockpiles were reported lower, but gasoline inventories were up last week. Metals prices, meanwhile, were higher by early afternoon in New York.

After reaching a three-month high versus the yen, the US dollar was even against the Japanese currency and lower in relation to the euro and sterling at midday in New York. The Australian and New Zealand dollars saw gains against both the greenback and the yen.


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