A roundup of trading on major world markets:
NEW YORK – Wall Street stocks have fallen modestly but remain close to record highs to close out the best single-month performance since 2011.
Stocks got help from a new estimate of fourth-quarter US economic growth that came in better than expected.
Despite shedding 6.24 points (0.30 per cent) for Friday, the broad based S&P 500 scored its best month since October 2011, putting on 5.5 per cent, to end at 2,104.50.
The Dow Jones Industrial Average lost 81.72 points (0.45 per cent) at 18,132.70. And the tech-rich Nasdaq Composite Index fell 24.36 (0.49 per cent) to 4,963.53.
The official estimate of US growth in the October-December quarter was revised to 2.2 per cent from the initial estimate of 2.6 per cent.
A sharper cut had been expected by markets, and analysts said the figure suggested the economy is growing now at a respectable 3.0 per cent pace or better.
LONDON – Europe’s main markets closed mostly higher, with Frankfurt and London hitting new records, rounding off a successful week for European indices thanks to a deal on Greece’s bailout and positive company results.
The benchmark FTSE 100 index reached 6,967.24 points, its highest intra-day level on record, before closing essentially unchanged down 0.04 per cent to 6,946.66 points.
Frankfurt’s DAX 30 ended the week with a new record close, up 0.66 per cent to 11,401.66 points. In Paris the CAC 40 gained 0.83 per cent to 4,951.48 points, ending the month at its highest level since 2008.
The euro climbed to $US1.1208 from $US1.1198 late in New York on Thursday.
HONG KONG – Asian markets closed mixed after US inflation data renewed speculation of an interest rate hike, as Tokyo advanced to a fresh high despite disappointing figures challenging Japan’s war on deflation.
Official data showed Japanese inflation slowed for a sixth straight month in January, dampened by weak consumer spending and falling energy prices – its lowest level since May 2013.
Tokyo stocks edged up to a fresh 15-year high, despite profit-taking largely erasing earlier gains that were driven by the yen’s fall.
The Nikkei 225 index at the Tokyo Stock Exchange ticked up 0.06 per cent, or 12.15 points, to end at 18,797.94.
Seoul slipped 0.37 per cent in cautious trading after a recent rally with the benchmark KOSPI closing down 7.28 points at 1,985.80.
Sydney climbed 0.34 per cent, closing up 20.3 points to 5,928.8.
Hong Kong stocks fell 0.32 per cent, losing 78.77 points to 24,823.29.
Shanghai added 0.36 per cent, or 11.94 points, to 3,310.30.
WELLINGTON – The NZX 50 Index rose 16.79 points, or 0.3 per cent, to a new high of 5878.472.
