Nasdaq higher on tech gains

| August 30, 2007 | 0 Comments
Nasdaq higher on tech gains

Wall Street was mixed in mid-afternoon trade on Thursday. Gains in the technology sector kept the Nasdaq Composite higher as it added 0.34 percent to 2,571.95, but the Dow Jones Industrial Average had fallen back from earlier gains to a decline of 0.16 percent to 13,267.91 while the S&P 500 was down 0.21 percent to 1,460.63.

Most Asia-Pacific equities markets were higher on Thursday. In Australia the S&P/ASX200 added 0.57 percent to 6,135 and the Sydney Ordinaries gained 0.6 percent to 6,138. South Korea’s Kospi index was 0.85 percent higher to 1,841.7, while in India the Sensex was up 0.86 percent to 14,121.74. The Shanghai Composite gained 1.14 percent to 5,167.88 and the Taiex added 1.48 percent to 8,771.21. In Hong Kong the Hang Seng index jumped 2.02 percent to 23,484.54. The exception to the gains came in Singapore, where the Straits Times index closed down at 3,321.15.

In Tokyo the Nikkei 225 was up 0.88 percent to 16,153.82, while the Topix index added 0.69 percent to 1,568.23 and the Mothers market gained a bare 0.03 percent to 716.29.

European equities markets were higher on the session. The FTSE Eurofirst 300 added 1.15 percent to 1,515.76. In Madrid, the IBEX gained 0.92 percent to 14,313.4, while the Dax was up 1.09 percent to 7,519.94 in Frankfurt and the Paris CAC-40 was 1.31 percent higher to 5,592.53.

The London markets also saw gains. The FTSE 100 added 1.3 percent to 6,212 and the FTSE 250 was 1.91 percent higher to 11,099.5.

Crude oil prices were lower, but natural gas prices were up even though stockpiles grew last week. At-the-pump gasoline prices in the United States were up overnight ahead of this weekend’s Labor Day holiday, the last 3-day holiday weekend before the end of the summer. Meanwhile, metals prices were mixed. Wheat prices hit a new record high before retreating slightly.

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