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Foreign Markets

Stocks soared forward overnight in Asia where investors were encouraged by data showing Japanese machinery orders in March fell less than expected. Japan’s Nikkei 225 stock average gained 171.29 points, or 1.9 %, to 9,265.02, and Hong Kong’s Hang Seng added 249.01, or 1.5 %, to 16,790.70.

The economy of the 16 countries that use the euro shrank by a massive 2.5 % in the first quarter; far more than the consensus expectation of 2%. This is the 4th consecutive quarter the euro zone has seen a decline in GDP. Germany’s economy shrank 3.8 % as demand for its high value goods, such as cars and machinery diminished. Germany’s DAX was up 0.4 % at 4,755.11. French GDP declined by 1.2 %, however the CAC 40 rose 0.8 % at 3,182.35.

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Foreign Markets

Tokyo’s benchmark Nikkei 225 stock average brushed jumped 149.11 points, or 1.7 %, to 8,977.37, its highest close in nearly four months despite the fact that unemployment rose to 4.8 %, up from 4.4 % in February and the worst reading since August 2004. In Europe, Britain experienced some mild profit taking heading into the weekend as the FTSE was down 9.33 points, or 0.2 %, at 4,234.38. Germany’s DAX and the CAC-40 in France were closed for trading on Friday.

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Foreign Markets

Overnight in Asia, equities advanced following the up day on Wall Street. Japan’s Nikkei 225 stock average added 152.32, or 1.7 %, to 8,907.58 while Hong Kong’s Hang Seng pared gains to close up 18.28 points, or 0.1 %, at 15,601.27. Stocks rose in Europe after earnings released by Citigroup, and General Electric, who both beat the street. In Europe, the FTSE 100 index of leading British shares was up 36.78 points, or 0.9 %, at 4,089.76 while Germany’s DAX rose 46.20 points, or 1 %, to 4,655.66. The CAC-40 in France was 42.68 points, or 1.4 %, at 3,080.86.

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Foreign Markets

Stocks fell in Europe as it was reported that the British economy contracted by a bigger than anticipated 1.6 % in the fourth quarter of 2008. the FTSE 100 index of leading British shares was down only 2.36 points, or 0.1 %, at 3,922.84 as financials propped the market up with a Financial Times report that the Financial Services Authority was about to say that Barclays does not need a capital injection from the British government. Germany’s DAX was down 28.41 points, or 0.7 %, at 4,230.96 while France’s CAC-40 was 22.31 points, or 0.8 %, lower at 2,869.76.

In Asia, the Nikkei 225 average dipped 9.36 points, or 0.1 %, to 8,626.97; however the index gained 8.6% for the week. Hong Kong’s Hang Seng index gained 10.52 points, or 0.1 %, to 14,119.50.

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Foreign Markets

After falling yesterday, markets overseas rallied to close out the week. Renewed hopes of additional stimulus measures sent Asian equities higher. Japan’s Nikkei 225 stock average jumped 371.03 points, or 5.2 %, to 7,569.28, and Hong Kong’s Hang Seng climbed 524.27 points, or 4.4 %, to 12,525.80.

In Europe, the FTSE 100 index of leading British shares was up 62.70 points, or 1.7 %, at 3,774.76, while Germany’s DAX rose 36.85 points, or 0.9 %, to 3,993.07. France’s CAC-40 was up 42.72 points, or 1.6 %, to 2,736.97.

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