Global equities markets lower

| May 24, 2007 | 0 Comments
Global equities markets lower

Asian and Pacific equities markets were lower on Thursday. In China, the Shanghai Composite dropped 0.5 percent to close at 4,354.4 after dropping by as much as 1.5 percent in afternoon trade. Elsewhere in the region, the Straits Times index in Singapore dropped 0.72 percent to 3,515.66, while in India the Sensex fell 1.01 percent to 14,218.11. In Australia, the Sydney Ordinaries were 1.15 percent lower to 6,298.6.

Tokyo’s markets were lower as well, with the Nikkei 225 and the Topix index each dropping 0.1 percent, to 17,696.97 and 1,738.11 respectively. The Mothers market of small and mid-caps fell 1.9 percent to 840.68 after two days of gains.

The European markets were also lower, with the FTSE Eurofirst 300 down 0.77 percent to 1,597.49. The Dax in Frankfurt was 0.5 percent lower to 7,697.38, while the IBEX-35 in Madrid fell 0.85 percent to 15,094.9 and the Paris CAC-40 dropped 1.17 percent to 6,048.31. In London the FTSE 100 fell 0.77 percent to 6,565.4, while the FTSE 250 was 0.73 percent lower to 12,130.5.

The New York markets were also lower in midday trade. The Dow Jones Industrial Average was 0.1 percent lower to 13,515.65, while the Nasdaq Composite fell 0.9 percent to 2,552.87 and the S&P 500 had dropped 0.4 percent to 1,516.3.

Crude oil prices were higher as the political situation in the Middle East remained volatile, while metals prices were lower on the session. Corn, wheat, and soybean futures were higher as demand outpaced supply.

In the currencies markets, the yen and the US dollar both strengthened. US Treasury bond yields wee higher for the third day in a row on new data showing that sales of new homes was up significantly in April.

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