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Saturday 22nd of November 2008
June 15, 2007

Wall Street gains over week


by Elaine Frei
Wall Street gains over week

Asia-Pacific equities markets were mixed on the session on Friday. In Australia, the Sydney Ordinaries added 0.46 percent to 6,317.1 and the Hang Seng index gained 0.72 percent to 21,017.05 in Hong Kong. On the other hand the Straits Times index in Singapore dropped 0.06 percent to 3,581.16, while the Sensex fell 0.33 percent to 14,162.71 in India.

Tokyo markets saw gains as the yen continued to weaken. The Nikkei 225 was 0.7 percent higher to 17,971.49, while the Topix index added 0.9 percent to 1,772.94. Small and mid-cap indexes did even better, with the Mothers market gaining 1.3 percent to 939.29 and the Jasdaq ending 1.7 percent higher to 82.46.

European markets enjoyed a second day in a row of significant gains and a third consecutive day of advances in general. The FTSE Eurofirst 300 was up 1.21 percent to 1,624.69 as the Paris CAC-40 gained 0.96 percent to 6,105.28, the IBEX was up 1.15 percent to 15,252.1 in Madrid, and the Dax added 2.31 percent to 8,030.64 in Frankfurt. In London, the FTSE 100 gained 1.24 percent to 6,732.4 and the FTSE 250 was 1.61 percent higher to 11,999.6.

Wall Street was higher at midday, with the Dow Jones Industrial Average adding 0.8 percent to 13.658.18. That took the week’s gain to 1.8 percent. The Nasdaq Composite was 0.9 percent higher to 2,653.97, up 2 percent on the week, while the S&P 500 had gained 0.8 percent to 1,535.14. The S&P was up 1.8 percent over the week. The Russell 2000 index of small and mid-caps added 1.35 percent to 848.44.

Crude oil prices were slightly higher on Friday, while metals prices were mixed.

The yen declined in value over the week as the Bank of Japan left interest rates on hold. Meanwhile, yields on US Treasury bonds dropped as prices climbed on new inflation data.

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