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Saturday 22nd of November 2008
June 1, 2007

Equities end week mostly higher


by Elaine Frei
Equities end week mostly higher

In Asia and the Pacific on Friday, equities markets were mostly higher. The main exception was the Hang Seng index in Hong Kong, which dropped 0.15 percent to 20,602.87. In India, the Sensex added 0.18 percent to 14,570.75, while in Australia the Sydney Ordinaries gained 0.34 percent to 6,363.5. The Straits Times index in Singapore added 1.03 percent to 3,547.28. The Tokyo markets saw gains, with the Nikkei 225 up 0.5 percent to 17,958.88 after going past the 18,000 level briefly. The Topix index added 0.7 percent to 1,767.88.

European markets also saw gains on the session. The FTSE Eurofirst 300 was 0.87 percent higher to 1,625.4. In Paris, the CAC-40 added 1.05 percent to 6,16 8.15, while the Madrid IBEX gained 1.12 percent to 15,501.5 and the Xetra Dax in Frankfurt was 1.33 percent higher to 7,987.85. London’s equities markets were also higher. The FTSE 100 added 0.84 percent to 6,676.7, while the FTSE 250 gained 0.71 percent to 12,196.7.

Wall Street was higher at midday. The Dow Jones Industrial Average had added 0.3 percent to 13,664.61 for a gain of 1.2 percent on the week. The Nasdaq Composite was 0.5 percent to 2,618.28, a gain of 2.4 percent on the week. The Nasdaq is up 8.4 percent on the year so far. The S&P 500 had gained 0.4 percent by mid-session to 1,537.39, up 1.4 percent on the week and, as with the Nasdaq, up 8.4 percent on the year to date.

Crude oil prices were higher on the session, but Brent crude dropped 2.9 percent during the week while West Texas Intermediate crude was down 0.6 percent over the week. Base metals prices also rose over the week, while gold closed higher than it has in nearly three weeks in New York.

The US dollar and the euro were up over the week, while the Canadian dollar made gains on the greenback on the likelihood that Canada’s central bank will hike interest rates soon. Meanwhile, prices were lower and yields higher on US Treasury bonds.

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