Most European equities see gains
Most European markets were up on Thursday, but in Madrid the IBEX was down 0.24 percent to 15,140.2. Elsewhere, the pan-European FTSE Eurofirst 300 added 0.27 percent to 1,486.51 while the CAC-40 was 0.26 percent higher to 5,511.45 and the Dax gained 0.41 percent to 7,869.19. In London, the FTSE 100 added 0.97 percent to 6,345.6 while the FTSE 250 gained 1.62 percent to 10,397.2.
Most Asia-Pacific markets were lower on the session. Exceptions were India’s Sensex and the Shanghai Composite, which added 0.37 percent to 19,162.57 and 2.06 percent to 5,043.54 respectively. Otherwise, the Hang Seng index was down 0.05 percent to 27,017.09 while Singapore’s Straits Times index was 0.36 percent lower to 3,357.34. Australia’s markets dropped for the seventh consecutive session on continued worries about the subprime crisis. The Sydney Ordinaries fell 0.57 percent to 6,244.8 and the S&P/ASX200 dropped 0.64 percent to 6,176.9. South Korea’s Kospi index was 0.92 percent lower to 1,844.37 while the Taiex was down 1.96 percent to 7,857.08.
There were gains in Tokyo following reports that Japan’s largest banks will decline to contribute to a fund organized by US banks to ease the subprime crisis. The Nikkei 225 was up 0.01 percent to 15,031.6 and the Topix index gained 0.05 percent to 1,457.56, but the Mothers market of small and mid-caps dropped 2.43 percent to 766.15.
New York equities markets were higher at mid-afternoon. In the middle of the afternoon, the Dow Jones Industrial Average was 0.15 percent higher to 13,226.94 while the Nasdaq Composite was up 1.14 percent higher to 2,630.69 and the S&P 500 added 0.28 percent to 1,457.09.
Crude oil prices were lower while metals and grains prices were mixed on the session.
The yen and the US dollar saw gains while the pound was weaker on the possibility that UK interest rates will be reduced soon.
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