A roundup of trading on major world markets:
NEW YORK – US equity markets have closed mixed as the unresolved eurozone crisis and news of a deep partisan split in Congress’s crucial deficit supercommittee clouded positive economic data.
The Dow Jones Industrial Average rose 25.43 points (0.22 per cent) on Friday to 11,796.2 in closing trade.
The broad-based S&P 500 edged down 0.48 point (0.04 per cent) to 1215.65, while the tech-heavy Nasdaq Composite shed 15.49 points (0.60 per cent) 2572.50.
Markets got a slight lift from a jump in the Conference Board’s index of leading economic indicators, providing more evidence that the economy has picked up speed.
But that optimism was overtaken by worries about the sovereign debt crisis rocking Europe.
LONDON – European stock markets closed mostly lower after a modest technical bounce as investors tracked rising Italian, Spanish and French borrowing costs and efforts to tame the debt crisis.
Dealers said that after another turbulent week, the markets were In London, the FTSE-100 index of top companies closed down 1.11 per cent at 5,362.94 points. In Paris, the CAC-40 lost 0.44 per cent to 2,997.01 points and in Frankfurt the DAX 30 shed 0.85 per cent to 5,800.24 points.
Milan and Madrid traded in and out of the red through the day but managed to finish with small gains of 0.23 per cent and 0.48 per cent.
The euro climbed to $1.3515 from $1.3457 in New York late Thursday.
European shares have fallen sharply this week as Italy, Spain and even France faced a sharp spike in borrowing costs, in a dangerous new phase as the debt crisis showed new signs of spreading.
The yield or rate of return on Italy’s 10-year government bonds continued near the seven per cent danger level considered unsustainable for the long-term and Spain faced similar problems while France has come under pressure.
HONG KONG – Asian markets slipped again as traders grew increasingly concerned the eurozone crisis will soon envelope larger economies after borrowing costs for France and Spain shot higher.
Tokyo finished 1.23 per cent, or 104.72 points, lower at 8,374.91 and Sydney fell 1.91 per cent, or 81.2 points, to end at 4,177 while Seoul finished 2.00 per cent, or 37.50 points, lower at 1,839.17.
Hong Kong lost 1.73 per cent, or 326.24 points, to end at 18,491.23 and Shanghai ended down 1.89 per cent, or 46.49 points, at 2,416.56.
Japan called on Germany — Europe’s biggest economy — to play a leading role in dragging the region back from the brink.
Singapore shares fell 1.72 per cent, or 47.91 points, to 2,730.34.
Singapore Airlines dropped 2.21 per cent to Sg$10.60 and Keppel Corp tumbled 1.42 percent to Sg$9.00.
WELLINGTON – Wellington fell 0.91 per cent, or 24.85 points, to 3,250.89.
Telecom Corp fell 3.0 per cent to NZ$2.45 and Fletcher Building slipped 0.16 per cent to NZ$6.11. Air New Zealand was unchanged on NZ$1.04.
