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Saturday 22nd of November 2008
May 4, 2007

European markets gain on session


by Elaine Frei
European markets gain on session

The Australian equities markets hit new records for the third day in a row on Friday. The S&P/ASX 200 closed out the week and the session at 6,304.9, while the Sydney Ordinaries added 0.95 percent to 6,296.2. The Asian, meanwhile, were mixed on the day. The Sensex dropped 1.02 percent to 13,934.27 in India, but in Singapore the Straits Times index gained 0.69 percent to 3,485.76 and the Hang Seng index in Hong Kong was 0.77 percent higher to 20,841.08. The Tokyo markets remained closed due to holidays.

Equities markets in Europe were higher on the session, with the FTSE Eurofirst 300 ending the week at a six year high as it gained 0.65 percent to 1,592.49. In Frankfurt, the Xetra Dax closed at 7,516.76, up by 0.54 percent to 7,516.76, while the Paris CAC-40 was 1.08 percent higher to 6,068.83. In London, the FTSE 100 added 1.01 percent to 6,603.7, while the FTSE 250 gained 1.37 percent to 12,210.8.

On Wall Street, early afternoon found the main indices up just slightly after having been mixed earlier in the session. The Dow Jones Industrial Average was up just 0.09 percent to 13,253.4, while the Nasdaq Composite was 0.19 percent higher to 2,570.3 and the S&P 500 had added 0.16 percent to 1,504.75.

Oil prices were lower during the day, while metals prices were higher. Lead and nickel both hit new record high prices by midday in London.

Among currencies, the US dollar strengthened over the week on manufacturing and service sector surveys. The Swiss franc and the Australian dollar both weakened during the week.

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