European Banks, UK Home Builders Fall

Market Update Analysis:

Author: 123jump.com Staff
123jump.com
Last Update: 5:20 PM EDT July 04 2008

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European stocks closed lower after crude oil traded at another record high and prospect more capital raising from European banks. Benchmark indexes in UK, France, Germany and Switzerland fell. Swedbank dropped 6% and Banco Santander lost 4%. Banks may need as much as $90 billion to meet their required capital reserves. UK stocks fell after a private equity fund decided not to proceed with investment in home builder Bradfod & Bingley.

World Marts Review

The Nikkei 225 Index in Tokyo closed lower 27.51 or 0.21% to 13,237.89, Hang Seng index in Hong Kong increased 181.04 or 0.85% to close to 21,423.82. ASX 200 index in Australia increased 83.80 or 1.68% to close 5,082.10. The KL Composite index in Malaysia decreased 19.56 or 1.70% to close at 1,134.14.

The Kospi Index in South Korea decreased 28.60 or 1.78% to close at 1,577.94, SET index in Thailand closed higher 0.88 or 0.12% to 743.03 and JSE Index in Indonesia increased 28.14 or 1.23% to 2,314.75. The Sensex index in India increased 359.89 or 2.75% to 13,454.00.

The FTSE 100 index in London closed lower 63.80 or 1.16% to 5,412.80, CAC 40 Index in France decreased 77.99 or 1.80% to close at 4,266.00 and DAX Index in Germany closed lower 81.53 or 1.28% to 6,272.21. The SMI index in Switzerland decreased 71.32 or 1.04% to close at 6,772.74.

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