IBEX drops more than 1 percent

| September 10, 2007 | 0 Comments
IBEX drops more than 1 percent

European markets were lower Monday. The FTSE Eurofirst 300 was 0.84 percent lower to 1,482.25. In Paris the CAC-40 fell 0.8 percent to 5,386.43, while the Dax dropped 0.82 percent to 7,375.44 in Frankfurt. Madrid’s IBEX was 1.06 percent lower to 13,726.3. In London, the FTSE 100 was 0.92 percent lower to 6,134.1 and the FTSE 250 fell 1.2 percent to 10,974.8.

Wall Street was also lower in early afternoon trade. The Dow Jones Industrial Average was 0.38 percent lower to 13,064.04, while the Nasdaq Composite had dropped 0.63 percent to 2,549.43 and the S&P 500 was down 0.63 percent as well, to 1,444.37.

Markets in the Asia-Pacific region were mixed on Monday. Among winners on the day was India’s Sensex, with a gain of 0.04 percent to 15,596.83. The Hang Seng added 0.07 percent to 23,999.7 in Hong Kong, while the Shanghai Composite overcame early declines and closed up 1.48 percent to 5,355.29.

On the other hand, the Taiex fell 0.89 percent to 8,937.58 in Taiwan, while in Singapore the Straits Times index were 1.35 percent lower to 3,441.87. The Sydney Ordinaries dropped 1.38 percent to 6,209.6, while the S&P/ASX200 was down 1.39 percent to 6,191.2. South Korea’s Kospi index fell 2.6 percent to 1,835.87. In Tokyo, the Nikkei 225 was 2.22 percent lower to 15,764.97. The Topix index dropped 2.04 percent to 1,525.22 and the Mothers market was down 4.13 percent to 675.71.

Crude oil prices were lower ahead of a meeting of OPEC members, while precious metals prices were mixed and most base metals were lower.

US Treasury bonds saw prices go up and yields decline.

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