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Friday 25th of July 2008
May 6, 2008

Equities decline in Europe


by Elaine Frei
Equities decline in Europe

Equities markets were lower in Europe on Monday after disappointing results from the banking and insurance sectors.

The FTSE Eurofirst 300 was down 0.46 percent to 1,351.76 while the CAC-40 fell 0.44 percent to 5,040.92, the IBEX was 0.48 percent lower to 14,005.8 and the Dax dropped 0.5 percent to 7,017.1.

London’s markets were mixed, with the FTSE 100 losing a bare 0.3 point to 6,215.2 even as the FTSE 250 added 0.37 percent to 10,329.

Markets in the Asia-Pacific region were mixed on the session.

Gainers on the session included the Straits Times Index with an advance of 0.02 percent to 3,248.75 while the Hang Seng added 0.3 percent to 26,262.13, the Taiex was up 0.23 percent to 8,857.37 and the Kospi index gained 0.58 percent to 1,859.06, while losers included the Sydney Ordinaries and the S&P/ASX200 in Australia, with declines of 0.34 percent to 5,777.9 and 0.5 percent to 5,701.4 respectively, while India’s Sensex was 0.67 percent lower to 17,373.75 and the Shanghai Composite dropped 0.73 percent to 3,733.5.

Tokyo’s markets remained closed for a holiday.

In early afternoon trade on Wall Street, the Dow Jones Industrial Average was up 0.19 percent to 12,994.45 while the Nasdaq Composite had added 0.64 percent to 2,479.99 and the S&P 500 had gained 0.63 percent to 1,416.42.

Crude oil prices spiked at above $122 per barrel in New York while precious metals prices also saw gains but grains prices were mixed.

The US dollar declined versus the euro and the yen.

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