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Sunday 12th of October 2008
October 29, 2007

Europe’s equities markets see gains


by Elaine Frei
Europe

Markets in Europe were higher on Monday’s session. The FTSE Eurofirst 300 was 0.68 percent higher to 1,587.6. The Paris CAC-40 added 0.71 percent to 5,836.19 and the Dax gained 0.76 percent to 8,009.67, while the IBEX was up 0.86 percent to 15,738.1. In London, meanwhile, the FTSE 100 gained 0.67 percent to 6,076 and the FTSE 250 added 0.38 percent to 11,552.8.

Equities markets in the Asia-Pacific region were higher again on Monday as well, with some indices reaching new records. In India, the Sensex rose above 20,000 for the first time, going as high as 20,024.67 during the session before closing at a record 19,977.67, a gain of 3.82 percent. Meanwhile in Hong Kong, the Hang Seng added 3.89 percent with a gain of 1,181.68 points to 31,586.90, a record close as it rose above the 31,000 level for the first time.

Elsewhere, the Straits Times index was up 1.28 percent to 3,819.78 in Singapore. In Australia, the Sydney Ordinaries and the S&P/ASX200 each added 1.37 percent, to 6,808.2 and 6,792.1 respectively. South Korea’s Kospi index gained 1.72 percent to 3,062.92, while in Taiwan the Taiex was 1.85 percent higher to 9,809.88. The Shanghai Composite jumped 2.83 percent to 5,748. In Tokyo, the Nikkei 225 added 1.17 percent to 16,698.08, while the Topix index had its best day in a month with a gain of 2.07 percent to 1,606.49. The Mothers market of small and mid-caps was up 3.7 percent to 965.17.

New York markets were higher at midday on investor hopes that the Federal Reserve will cut interest rates again when it meets later this week. The Dow Jones Industrial Average was 0.31 percent higher at mid-session, at 13,849.45, while the Nasdaq Composite was up 0.23 percent to 2,810.73 and the S&P 500 had added 0.24 percent to 1,538.95.

Crude oil prices reached record highs again, while metals prices were mixed in London and New York. Grains prices were higher on the Chicago Board of Trade, with wheat gaining nearly its daily limit.

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