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Market Update Analysis: 
Energy, Mining Companies Lift UK Stocks
Author: 123jump.com Staff
123jump.com
Last Update: 5:30 PM ET July 21 2008


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UK edged higher on a rebound in energy prices and expectations of milder than expected recession. Home prices in July dropped 1.8% from June and 2% from a year ago. Rebound in energy and metals prices lifted metals and energy companies stocks. A member of the UK Monetary Policy in an interview stated that UK is probably in a recession and unemployment will jump to 7% from current rate of 5.2%.

 
In London FTSE 100 Index closed higher 27.90 or 0.52% to 5,404.30, in Paris CAC 40 Index increased 27.78 or 0.65% to close at 4,327.14 and in Frankfurt DAX index higher 42.19 or 0.66% to close at 6,424.84. In Zurich trading SMI increased 30.91 or 0.45% to close at 6,858.22.

Asian Markets Review

Hang Seng index in Hong Kong increased 658.71 or 3.01% closed to 22,532.90. ASX 200 index in Australia increased 171.40 or 3.54% to close 5,011.80. The KL Composite index in Malaysia decreased 1.56 or 0.14% closed to 1,103.48. Financial markets in Japan were closed today.

The Kospi Index in South Korea increased 52.93 or 3.51% to close at 1,562.92, SET index in Thailand closed higher 22.78 or 3.43% to 687.30 and JSE Index in Indonesia increased 53.93 or 2.52% to 2,195.07. The Sensex index in India increased 214.64 or 1.57% to 13,850.04.
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