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Thursday 20th of November 2008
July 2, 2007

European equities mostly lower


by Elaine Frei
European equities mostly lower

Equities markets in the Asia-Pacific region were mixed on Monday. The Australian market saw declines, with the Sydney Ordinaries 0.19 percent lower to 6,298.6 and the S&P/ASX200 closing lower to 6,263.3. Elsewhere in the region, the Straits Times index added 0.01 percent to 3,550.34 in Singapore, while in India the Sensex gained 0.09 percent to 14,644.26. In Tokyo, the Nikkei 225 closed virtually unchanged at 18,146.30, while the Topix index was up 0.3 percent to 1,780.36.

European markets were mostly lower on the session. The FTSE Eurofirst 300 dropped 0.24 percent to 1,601.5. In Paris the CAC-40 fell 0.46 percent to 6,026.95, while the IBEX was 0.59 percent lower to 14,804.7 in Madrid and the Dax was down 0.61 percent to 7,958.24 in Frankfurt. In London, the FTSE 100 dropped 0.26 percent to 6,590.6. On the other hand, the FTSE 250 managed to add 0.06 percent to 11,534.3.

Wall Street saw gains by midday. The Dow Jones Industrial Average was 0.56 percent higher to 13,495.11, while the Nasdaq Composite had gained 0.79 percent to 2,623.9 and the S&P 500 added 0.67 percent to 1,513.37.

Crude oil prices were higher as new accusations surfaced about the role Iran might be playing in unrest in Iraq and in Lebanon and as a refinery shut down in Kansas due to flooding there. The price of gold added over $8 in New York.

The dollar weakened against the euro and sterling as those currencies were helped by new data in the Eurozone and UK purchasing managers’ indices. Meanwhile, prices on US Treasury bonds were higher and yields hit a three-week low even though the Institute for Supply Management’s manufacturing index was up in June, as investors looked for safe places to put their money after recent terrorist attacks in the UK and in Yemen.

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