European Markets Struggle, Oil at $100

Market Update Analysis:

Author: 123jump.com Staff
123jump.com
Last Update: 5:05 PM EST January 03 2008

European markets fell across the board as 13 largest markets in the region declined. bucking the trend UK rose 1%. DSG International, electronics retailer fell 25% in London trading after same store sales declined and it issued profit warning. Navigation device maker TomTom fell 7% after sales declined at DSG. Airlines fell after oil crosssed $100 a barrel in intra-day tradng. E.On gained after Lehman said it mat boost its price target and Inmarsat fell 7% on Merrill Lowered its rating.

4:30PM New York, 10:30PM Frankfurt, 8:30AM Sydney

European Markets

In London FTSE 100 Index closed higher 62.70 or 0.98% to 6,479.40, in Paris CAC 40 Index decreased 4.28 or 0.08% to close at 5,546.08, and in Frankfurt DAX index also decreased 40.70 or 0.51% to close at 7,908.41. In Zurich trading SMI closed lower 165.64 or 1.95% to close at 8,318.82 on the first day of trading in 2008.

For the year Germany led the gainers in the region with a rise of 22% 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 and local currency Micex index rose 13%.

Bulgaria surged 44% and Turkey added 42% in 2007.

North American Markets indexes

Dow Jones Industrial Average closed up 12.76 or 0.10% to a close of 13,056.72, S&P 500 was unchanged at 1,447.16, and Nasdaq Composite Index traded down 6.95 or 0.27% to a close of 2,602.68.

In Toronto TSX Composite gained 43.76 or 0.31% to close at 13,970.52.

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, 16 closed higher, 13 closed lower, and one was unchanged.

Intel led the decliners for the second day in a row with a fall of 2.8% followed by losses in General Motors of 2.4%, in American Express of 1.3%, and in Home Depot of 1.11%.

United Technologies led the gainers with a rise of 1.4% followed by gains in Pfizer of 1.1%, in Coca Cola of 1.1%, and in AT&T of 0.95%.

Of the stocks in S&P 500, 198 closed higher, 295 fell, and 7 were unchanged.

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

Monster led the decliners in the index with a fall of 8.5% followed by losses in Dillards of 7.2%, in CVS Caremark and Walgreen of 6.5%, and in Office Depot of 6.2%, in Pulte Homes 6.2%, and in Family Dollar of 6%.

Monsanto led the gainers in the index with a rise of 8.5% followed by increases in State Street Corp of 8.2%, in Celgene of 7.6%, in Jacobs Engineering Group of 5.2% and Fluor Corp of 5%.

South American Markets Indexes

In Latin Markets Venezuela led the gainers in the region with a rise of 1.8% followed by increases in Peru of 1.76%, in Colombia of 1.7%, in Mexico of 0.6%, and in Brazil of 0.12%.

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