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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

Global markets were moderately lower Wednesday after Wall Streeet turned negative yesterday. The Nikkei 225 stock average dipped 8.31 points, or 0.1 percent, to 8,479.99 as government figures showed exports plunged by nearly half in February from a year earlier — a record monthly drop and a realization of the lack of global demand from the exporting country; the world’s second largest economy.. Hong Kong’s Hang Seng index fell 288.23 points, or 2.1 percent, to 13,622.11. Mainland China’s Shanghai index retreated 46.86 points, or 2 percent, to 2,291.55, ending a seven-day rally.

In afternoon trading in Europe, Britain’s FTSE 100 declined 1.07 % to 3,869.63, Germany’s DAX lost 0.73 % to 4,156.75, and France’s CAC 40 fell 0.65 % to 2,855.83.

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