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Saturday 22nd of November 2008
May 25, 2007

European markets mixed on session


by Elaine Frei
Euorpean markets mixed on session

Global equities markets were mixed on Friday. Most Asian markets were lower on the session, with the main exception being the Sensex, which added 0.85 percent to 14,338.45 in India. In Australia, the Sydney Ordinaries dropped 0.4 percent to 6,273.3. The Straits Times index in Singapore fell 0.54 percent to 3,486.63, while in Hong Kong, the Hang Seng index was 1.34 percent lower to 20,520.66. Tokyo’s markets were lower on the day as well, with the Nikkei 225 down 1.2 percent to 17,481.21 and the Topix index 1.3 percent lower to 1,715.54. The Mothers market of small and mid-caps, however, managed a 1.5 percent advance, to 853.35.

The European markets were also mixed, but the FTSE Eurofirst 300 was only down by 0.01 percent to 1,597.74, while some major markets on the continent were higher on the session. The Paris CAC-40 added 0.15 percent to 6,057.49, while the Dax was 0.54 percent higher to 7,739.2 in Frankfurt. However, the IBEX in Madrid was 0.28 percent lower to 15,053.2. London’s markets were mixed in light trade ahead of Monday’s bank holiday. The FTSE 100 added 0.08 percent to 6,570.5, while the FTSE 250 dropped 0.6 percent to 12,057.6.

Trade was also light on Wall Street before the Memorial Day holiday Monday. At midday, the Dow Jones Industrial Average had added 0.21 percent to 13,469.33, while the Nasdaq Composite was up 0.5 percent to 2,550.51 and the S&P 500 had gained 0.27 percent to 1,511.61.

Crude oil prices were mixed on the day with Brent crude lower but West Texas Intermediate crude higher by over $1 per barrel. US at-the-pump gasoline prices dropped, if only fractionally, after 12 days of record high averages. Most metals prices were higher on the session.

Sterling was stronger this week in global currency markets, while the yen strengthened toward the end of the week but still declined versus the US dollar. US Treasury bond yields were mostly higher again on the session.

US and UK markets will be closed on Monday due to the Memorial Day holiday in the United States and a bank holiday in the UK.

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