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Saturday 22nd of November 2008
January 11, 2008

European equities mixed on session


by Elaine Frei
European equities mixed on session

Europe’s markets were mixed but mostly lower on Friday. The FTSE Eurofirst 300was down 0.48 percent to 1,429.83. In Madrid the IBEX was 0.45 percent lower to 14,458 and the Paris CAC-40 dropped 0.54 percent to 5,371.41 but Frankfurt’s Dax added 0.06 percent to 7,717.95. London’s markets also ended the day mixed. The FTSE 100 was down 0.33 percent to 6,202 but the FTSE 250 added 0.3 percent to 9,829.8.

Most Asia-Pacific region equities markets lower on the session. There were exceptions to the declines, but they were few and far between. The Shanghai Composite added 0.52 percent to 5,484.68, while India’s Sensex was up 0.72 percent to 20,827.45, a gain of 245 points on the session.

In Taiwan, the Taiex was 0.35 percent lower to 8,029.31. The FTSE Straits Times Index was down 0.72 percent to 3,287.34 in Singapore while in Hong Kong the Hang Seng index fell 1.34 percent to 26,867.01. Australia’s markets were also lower, with the Sydney Ordinaries dropping 1.51 percent to 6,054.4 and the S&P/ASX200 down 1.6 percent to 5,981.6. South Korea’s Kospi index was 2.33 percent lower to 1,782.27.

Tokyo’s Nikkei 225 fell to its lowest point in over two years as it fell 1.93 percent, or 277 points, to 14,110.79. The Topix index was down 1.7 percent to 1,377.58 and the Mothers index of small and mid-caps dropped 5.75 percent to 703.39.

Wall Street was lower in early afternoon trade in anticipation of quarterly reports from several big banks, due to be issued next week. The Dow Jones Industrial Average lost over 170 points, or 1.35 percent, to 12,679.22 while the Nasdaq Composite fell 1.27 percent to 2,456.91 and the S&P 500 dropped 0.72 percent to 1,410.05.

Crude oil prices fell on the session, while metals prices saw gains. Grains prices were up in Chicago.

The Japanese yen was stronger on the session as most equities markets declined, but the pound and the dollar were both weaker versus the euro on the week.

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