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Thursday 20th of December 2007

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Most European markets lower


by Elaine Frei
October 19, 2007
Most European markets lower

Most European markets were lower again, with IBEX again the notable exception with a gain of 0.15 percent to 15,529.7. The FTSE Eurofirst 300 dropped 0.56 percent to 1,564.44, while the CAC-40 was down 0.46 percent to 5,740.48 in Paris and the Dax was 0.47 percent lower to 7,884.12 in Frankfurt. London’s markets were also lower again. The FTSE 100 dropped 1.23 percent to 6,527.9 while FTSE 250 fell 0.98 percent to 11,299.3.

Asian and Pacific region equities were lower Friday. The Shanghai Composite was 0.12 percent lower to 5,818.05, while in Taiwan the Taiex was down 0.26 percent to 9,611.72. Australian markets declined on losses in the banking and mining sectors. The Sydney Ordinaries fell 0.85 percent to 6,723.3 and the S&P/ASX200 dropped 0.91 percent to 6,706.3.

In Singapore the Straits Times index was down 1.62 percent to 3,747.98. South Korea’s Kospi index was 1.75 percent lower to 1,970.1, while in India the Sensex fell again, dropping 2.44 percent to 17,559.98. In Tokyo the Nikkei 225 dropped 1.71 percent to 16,814.37 and the Topix index fell 1.64 percent to 1,591.28. On the other hand, the Mothers market added 2.06 percent on the session to 902.03.

Wall Street was lower at midday as quarterly reports from businesses in various sectors disappointed. The Dow Jones Industrial average was down 1.27 percent to 13,713.05, while the Nasdaq Composite had fallen 1.14 percent to 2,767.32 and the S&P 500 was down 1.12 percent to 1,522.82.

Crude oil prices were lower, but only after the WTI breached the $90 per barrel level in overnight trade. Metals prices were mixed, as were grains prices.

The US dollar remained around record lows versus the euro.



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