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Market Update Analysis: 
European Markets Edge Lower
Author: 123jump.com Staff
123jump.com
Last Update: 6:13 PM EST January 02 2008


A weaker than anticipated U.S. manufacturing report in December left most markets in Europe lower. DAX Index in Germany led the decliners in the region with a loss of 1.5% followed by losses in France of 1.1%, and in the UK of 0.6%. Nokia, Ericsson, and ArcelorMittal fell on the munting worries of U.S. growth recession. Technology and construction stocks fell but energy stocks rose.

 
5:00PM New York, 11:00PM Frankfurt, 9:00AM Sydney

North American Markets indexes

Dow Jones Industrial Average closed down 220.86 or 1.67% to a close of 13,043.96, S&P 500 edged lower 21.20 or 1.44% to 1,447.16, and Nasdaq Composite Index traded down 42.18 or 1.61% to a close of 2,609.63. In Toronto TSX Composite gained 93.70 or 0.68% to close at 13,926.76.

In 2007, Nasdaq led the gainers with a rise of 9.8% followed by increases in Dow Jones of 6.4%, and in S&P 500 of 3.5%. TSX Index rose 7.3%, a rise for the fifth year in a row.

Of the 30 stocks in Dow Jones Industrial Average, 1 closed higher, 29 closed lower, and none was unchanged.

Intel led the decliners in the index with a loss of 5% followed by losses in AIG of 3.4%, in JP Morgan of 3.4%, in IBM of 3.2%, and in Home Depot of 3.1%.

Pfizer was the lone the gainers in the index with a rise of 0.8%.

Of the stocks in S&P 500, 68 closed higher, 429 fell, and 3 were unchanged.

One hundred and sixteen stocks fell more than 3% and eight rose more than 3%.

LSI Corp led the decliners in the index with a loss of 8.1% followed by losses in Supervalu of 7.9%, in Fannie Mae and Textron of 6.3%, in U.S. Steel of 6%, in Starbucks of 5.7%, in Robert Half of 5.5%, in National Semiconductor of 5.4%, and in Parker Hannifin of 5.35%.

Newmont Mining led the gainers in the index with a rise of 7.3% followed by gains in Amzon.com of 3.9%, in Becton Dickinson of 3.8%, in Dynegy of 3.8%, and in Humana of 3.7%.

South American Markets Indexes

In Latin Markets Mexico led the decliners in the region with a loss of 2.9% followed by losses in Chile of 1.8%, in Brazil of 1.7%, in Peru of 1.2%, and in Colombia of 0.4%.

Venezuela and Argentina closed nearly unchanged.


European Markets

In London FTSE 100 Index closed lower 40.00 or 0.62% to 6,416.70, in Paris CAC 40 Index decreased 63.72 or 1.14% to close at 5,550.36, and in Frankfurt DAX index also increased 118.21 or 1.47% to close at 7,949.11. In Zurich trading SMI lower 33.73 or 0.40% to close at 8,484.46 on Friday, in the last day of trading in 2007.

For the year Germany led the gainers in the region with a rise of 12% followed by 7% increase in Spain, 3.8% in the UK, in 1.3% in France, and 26% decline in Ireland. Russia rose 27% in its dollar denominated index.

Asian Markets

In Hong Kong Hang Seng index closed lower 252.13 or 0.91% to 27,560.52, in Australia ASX 200 closed increased 13.10 or 0.20% to close 6,353.10. Financial markets in Tokyo were closed today.
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