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Thursday 24th of July 2008
April 4, 2008

Europe higher, London markets mixed in end-of-week trade


by Elaine Frei
Europe higher, London markets mixed in end-of-week trade

European equities saw gains on the session Friday. The FTSE Eurofirst 300 was up 0.48 percent to 1,318.43. The CAC-40 was 0.27 percent higher to 4,900.88 in Paris while the Dax added 0.32 percent to 6,763.39 in Frankfurt and the IBEX gained 0.78 percent to 13.846.4 in Madrid. Markets were mixed in London, where the FTSE 100 added 0.95 percent to 5,947.1 but the FTSE 250 was down 0.12 percent to 10,165.1.

Equities markets in Tokyo were lower, hurt by concerns that US economic problems will hurt the sales of cars and parts as well as other exports. The Nikkei 225 was down 0.72 percent to 13,293.22 while the Topix index was 0.82 percent lower to 1,288.94 and the Mother’s market dropped 1.39 percent to 614.85. The rest of the Asia-Pacific region was mixed. South Korea’s Kospi index managed to add 0.16 percent to 1,766.49, while in Australia the S&P/ASX200 was up 0.19 percent to 5,619.6 and the Sydney Ordinaries gained 0.32 percent to 5,663.7. On the other hand, the Straits Times Index was down 0.5 percent to 3,155.56 while India’s Sensex dropped 3.09 percent to 15,343.12. Markets in China, Taiwan, and Hong Kong were closed for the day.

Wall Street was up in early afternoon trade despite a Labor Department report that 80,000 US jobs were lost in March, sending the unemployment rate to 5.1 percent. The Dow Jones Industrial Average was up 0.27 percent to 12,660.71 while the Nasdaq Composite added 0.86 percent to 2,383.74 and the S&P 500 gained 0.56 percent to 1,376.96.

Crude oil prices were higher in afternoon trade in New York and most metals prices also saw gains. Grains prices were mixed.

The dollar weakened in relation to the euro and the yen while the pound dropped versus the euro and the dollar. The South African rand declined against all major currencies as investors fled carry trades.

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