A roundup of trading on major world markets:
NEW YORK – Another flare-up in Europe’s debt crisis knocked US markets lower on Friday. This time, it was more trouble at a major Spanish bank.
The Dow was down 74.92 points (0.60 per cent) to 12,454.83.
The Nasdaq was down 1.85 (0.07 per cent) to 2,837.53.
The S&P index was modestly down 2.86 (0.22 per cent) to 1,317.82.
LONDON – The euro briefly dipped below $1.25 but European stocks firmed despite dark clouds lingering over the eurozone with concerns that problems at Spanish banks could turn into a full-blown crisis.
Trade was choppy throughout the session but took a final turn higher on news Italian Prime Minister Mario Monti had invited French, Spanish and German leaders to a four-way summit after key Greek elections in June.
At close London’s benchmark FTSE 100 index inched up 0.03 per cent to 5,351.53 points, while Frankfurt’s DAX 30 gained 0.38 per cent to 6,339.94 points and in Paris the CAC 40 rose 0.32 per cent to 3,047.94 points.
Madrid gained 0.13 per cent to 6,543 points even though lender Bankia earlier asked to be suspended from trading on reports saying the bank may seek up to 20 billion euros from the state to stay afloat.
HONG KONG – Asian markets closed mixed as weak European data added to pessimism after this week’s disappointing summit on saving Greece from leaving the eurozone.
Positive leads from Wall Street and European markets were unable to provide a thrust as Asian indexes which in the past month have given up the gains made since the start of the year.
Tokyo closed up 0.20 per cent, or 17.01 points, to 8580.39, Sydney eased 0.66 per cent, or 26.6 points, at 4029.2, while Seoul was 0.53 per cent, or 9.7 points, higher at 1824.17.
Hong Kong ended 0.25 per cent, or 47.01 points higher at 18,713.41 and Shanghai was down 0.74 per cent, or 17.42 points, at 2333.55.
WELLINGTON – The NZX-50 Index fell 9.95 points, or 0.3 per cent, to 3486.23.
