A roundup of trading on major world markets:
NEW YORK – The Dow has been dragged lower by weak Procter & Gamble results, but the Nasdaq has gained as food giant Mondelez raises its forecast after better-than-expected earnings.
The Dow Jones Industrial Average dipped 5.41 points (0.03 per cent) to 17,745.98 on Thursday.
The broad-based S&P 500 was essentially flat, adding 0.06 at 2,108.63, while the tech-rich Nasdaq Composite Index rose 17.05 (0.33 per cent) to 5,128.59.
Dow member Procter & Gamble sank 4.0 per cent after reporting the sixth straight quarter of declining sales.
US gross domestic product expanded at an annual rate of 2.3 per cent in the April-June period, slightly below the 2.5 per cent consensus estimate.
However, Commerce revised up its estimate on the first quarter to growth of 0.6 per cent from a 0.2 per cent contraction.
LONDON – European stock markets rose on company updates and as investors assess the Federal Reserve’s outlook for the economy.
London’s benchmark FTSE 100 index gained 0.57 per cent to finish at 6,668.87 points.
In the eurozone, the CAC 40 in Paris rose 0.58 per cent to 5,046.42 points, while Frankfurt’s DAX 30 gained 0.40 per cent to 11,257.15 points.
The euro fell to $US1.0916 from $US1.0990 late in New York on Wednesday, as Germany’s jobless scrolls showed a surprise increase of 9,000 people in July.
The unemployment rate stayed at 6.4 per cent in July, however, the lowest level since reunification almost a quarter century ago.
HONG KONG – Asian shares mostly gained after a Wall Street rally.
Tokyo jumped 1.08 per cent, or 219.92 points, to 20,522.83 as the yen weakened against the greenback and top firms including Nintendo reported strong earnings.
Sydney rose 0.81 per cent, or 45.3 points, to 5,669.5 thanks to a pick-up in iron ore prices.
Shanghai suffered a late sell-off to end 2.20 per cent, 83.40 points, lower at 3,705.77, while Hong Kong closed down 0.49 per cent, or 121.47 points, at 24,497.98.
Seoul dropped 0.91 per cent, or 18.59 points, to 2,019.03, hurt by selling in heavyweight Samsung Electronics after it reported disappointing earnings.
WELLINGTON – The S&P/NZX 50 Index rose 21.08 points, or 0.4 per cent, to 5891.85.
