A roundup of trading on major world markets:
NEW YORK – Investors unimpressed by a skein of positive earnings surprises have sold down US stocks, with some nervousness over the eurozone clouding sentiment.
The Dow Jones Industrial Average on Wednesday shed 82.79 points (0.63 per cent) to finish the session at 13,032.75.
The broader S&P 500 lost 5.64 (0.41 per cent) to 1,385.14, while the Nasdaq dropped 11.37 (0.37 per cent) to 3,031.45.
LONDON – European stock markets fell back on Wednesday and shares in Madrid plunged as investors kept a watchful eye on Spain and Italy after sharp gains the previous day.
At the close, London’s benchmark FTSE 100 index was down 0.38 per cent at 5,745.29 points, Frankfurt’s DAX 30 slumped 1.01 per cent to 6,732.03 points and in Paris the CAC 40 tumbled 1.59 per cent to 3,240.29 points.
Madrid’s benchmark IBEX 35 lost a sharp 3.99 per cent after figures showed an spike in bad loans at Spanish banks and Milan’s FTSE Mib index sank 1.71 per cent after the government downgraded its growth forecasts, putting off the 2013 target for a balanced budget.
In foreign exchange trade, the euro dropped to $US1.3111 from $US1.3125 in New York late Tuesday and the dollar rose to 81.26 yen from 80.88 yen.
HONG KONG – Asian markets bounced back from recent loses following some much-needed positive news out of Europe and an IMF report forecasting global growth would be stronger than expected.
Technology and financial shares were boosted by strong earnings in the United States, while the euro and US dollar gained against the yen as traders felt confident to buy riskier assets.
Tokyo surged 2.14 per cent, or 202.55 points, to 9,667.26 and Seoul rose 0.97 per cent, or 19.23 points, to 2,004.53 while Sydney added 1.37 per cent, or 58.9 points, to 4,347.7.
Hong Kong climbed 1.06 per cent, or 218.42 points, to 20,780.73 and Shanghai rallied 1.96 per cent, adding 45.86 points to 2,380.85.
WELLINGTON – The NZX 50 rose 42.21 points, or 1.2 per cent, to 3522.76, the highest close since March 15.
