CAC-40 drops 2.08 percent on session
by Elaine Frei
Europe’s equities markets saw declines Thursday on disappointing results and earnings outlooks. The FTSE Eurofirst 300 was down 1.83 percent to 1,333.42. In Madrid the IBEX was 1.35 percent lower to 13,272.1 while the Dax fell 1.93 percent to 6,862.52 in Frankfurt and the Paris CAC-40 dropped 2.08 percent to 4,865.23. Markets were also lower in London, with the FTSE 100 down 1.82 percent to 5,965.7 and the FTSE 250 falling 1.83 percent to 10,230.8.
Tokyo equities markets were mixed as the yen strengthened against the US dollar and on anticipation of another decline in factory production this month. Amid the worries, the Nikkei 225 was 0.75 percent lower to 13,925.51 and the Topix index fell 0.84 percent to 1,353.1 but the Mothers market of small and mid-caps added 2.62 percent to 708.34.
Elsewhere in the Asia-Pacific region, markets were mixed. Gainers included the Hang Seng, which added 0.44 percent to 24,591.69. South Korea’s Kospi was up 0.89 percent to 1,736.17 while the Taiex gained 1.86 percent to 8,462.08 in Taiwan. The Sensex was down 0.01 percent to 17,824.48. The Straits Times Index was 0.66 percent lower to 3,074.15 while the Shanghai Composite fell 0.8 percent to 4,299.51. In Australia the Sydney Ordinaries declined 1.65 percent to 5,746.1 and the S&P/ASX200 was down 2.01 percent to 5,651.2.
Wall Street was lower in mid-afternoon trade on higher jobless claims last week after Fed chairman Ben Bernanke said some small US banks might fail due to the credit crisis. The Dow Jones Industrial Average was down 1.01 percent to 12,566.14 while the Nasdaq Composite had fallen 0.93 percent to 2,331.86 and the S&P 500 dropped 0.97 percent to 1,366.57.
Crude oil and metals prices were higher, while grains prices were mixed in Chicago as wheat prices reversed recent gains.
The US dollar hit record lows versus the euro and the Swiss franc while the yen and the Canadian dollar each saw gains.
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