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Saturday 22nd of November 2008
January 14, 2008

IBEX declines; most other European markets gain


by Elaine Frei
IBEX declines; most other European markets gain

Europe’s markets were mixed but mostly higher on Monday. The FTSE Eurofirst 300 added 0.3 percent to 1,433.2. The Dax was up 0.18 percent to 7,732.02 and the CAC-40 gained 0.6 percent to 5,403.51 but Madrid’s IBEX dropped 0.18 percent to 14,431.9. In London, the FTSE 100 added 0.22 percent to 6,215.7 while the FTSE 250 was 2.05 percent higher to 10,031.6.

Most Asia-Pacific equities markets declined. The main exceptions were the Shanghai Composite and Taiwan’s Taiex index. The Taiex added 1.79 percent to 8,173.41 after the opposition party won 81 out of 113 seats in parliamentary elections. Meanwhile, the Shanghai Composite was up 0.24 percent to 5,497.9.

In Australia the S&P/ASX200 was 0.03 percent lower to 5,980 and the Sydney Ordinaries fell 0.22 percent to 6,040.9. India’s Sensex was down 0.48 percent to 20,728.05. The Kospi index in South Korea dropped 0.92 percent to 1,765.88, a five-month low, on big declines for shipbuilders. Hong Kong’s Hang Seng was 1.48 percent lower to 26,468.13 as the oil sector was hurt by demand concerns and the FTSE Straits Times index fell 2.11 percent to 3,218.14. Tokyo’s markets were closed for a holiday.

Wall Street saw significant gains on the session. The Dow Jones Industrial Average added 1.36 percent to 12,778.15 while the Nasdaq Composite was up 1.57 percent to 2,478.3 and the S&P 500 gained 1.09 percent to 1,416.25.

Crude oil prices and both precious and base metals saw advances on the session as the US dollar weakened against other major currencies. Grains prices were mixed.

While the dollar declined, the euro saw gains and the pound declined.

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