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Saturday 22nd of November 2008
November 27, 2007

European equities continue lower


by Elaine Frei
European equities continue lower

Europe’s markets were lower again on Tuesday. The pan-European FTSE Eurofirst 300 was down 0.33 percent to 1,462.77. In Madrid, the IBEX was 0.1 percent lower to 15,315.6 while the Paris CAC-40 fell 0.44 percent to 5,434.17 and the Dax dropped 0.48 percent to 7,531.35. In London, The FTSE 100 was 0.64 percent lower to 6,140.7 while the FTSE 250 was down 1.54 percent to 10,291.5.

After significant gains in most equities markets on Monday, most Asia-Pacific region indices showed declines on Tuesday. There were exceptions. South Korea’s Kospi index added 0.24 percent to 1,859.79, while Tokyo’s markets were higher as the yen weakened in response to a weakening of the yen versus the US dollar. The Nikkei 225 gained 0.58 percent to 15,222.85 and the Topix index was up 0.8 percent to 1,478.78 while the Mothers market of small and mid-caps jumped 3.24 percent to 835.77.

Elsewhere in the region markets lower on the session. The S&P/ASX200 was down 0.6 percent to 6,432.7 and the Sydney Ordinaries dropped 0.61 percent to 6,493.6 in Australia. India’s Sensex fell 0.62 percent to 19,127.73. The Straits Times index was 1.34 percent lower to 3,372.64 in Singapore while Hong Kong’s Hang Seng index was down 1.51 percent to 27,210.21. In Taiwan the Taiex fell 1.79 percent to 8,375.76. The Shanghai Composite dropped 1.97 percent to 4,861.11.

In mid-afternoon trade in New York, the Dow Jones Industrial Average was up 1.36 percent to 12,916.58 while the Nasdaq Composite added 1.01 percent to 2,566.63 and the S&P 500 gained 0.91 percent to 1,420.07.

Crude oil prices were lower on the session. Precious metals were lower in New York, while grains prices were mixed.

The yen weakened in relation to the US dollar.

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