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Friday 29th of August 2008
July 13, 2007

Most global markets higher


by Elaine Frei
Most global markets higher

Equities markets some parts of the Asia-Pacific region hit all time highs on Friday. New records were set in Hong Kong where the Hang Seng added 1.27 percent to 23,099.29 in Singapore, where the Straits Times index gained 1.8 percent to 3,654.61 respectively. In India, the Sensex also saw a significant gain as it added 1.2 percent to 15,272.72. In Australia the Sydney Ordinaries were up a more modest 0.4 percent to 6,425.4. The Tokyo markets also saw significant gains as the Nikkei 226 added 1.42 percent to 18,238.95 and the Topix index gained 1.14 percent to 1,783.2.

Markets in Europe were higher as well, with the FTSE Eurofirst 300 adding 0.39 percent to 1,627.68. In Paris, the CAC-40 was 0.24 percent higher to 6,117.96, while the Dax gained 0.49 percent to 8,092.77 in Frankfurt and the IBEX was up 0.55 percent to 15,023.5. In London, the FTSE 100 was 0.28 percent higher to 6,716.7 and the FTSE 250 gained 0.96 percent to 11,922.9.

Wall Street was mixed in midday trade, with the possibility that the S&P 500 would close at an all-time high. At mid-session, the S&P was up 0.1 percent to 1,548.47. The Dow Jones Industrial Average was also higher, up 0.1 percent as well to 13,881.64 after going as high as a new record of 13,910.26. On the other hand, the Nasdaq Composite had dropped 0.2 percent to 2,695.09, but was still up 1.1 percent for the week.

Crude oil prices were higher on the session, while precious metals were lower and base metals were mixed.

The yen and the US dollar were both weaker, with the greenback hurt by new figures that showed retail sales down unexpectedly in the United States in June. The new data also sent the price of US Treasury bonds higher, dropping yields.

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