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Foreign Markets

Markets opened up with week mainly lower as the threat of an outbreak of swine flu could rattle global economies. Japan’s Nikkei 225 stock average gained 18.35, or 0.2 %, to close at 8,726.34, while Hong Kong closed down 418.43 points, or 2.7 %, to 14,840.42.

In Europe, the FTSE 100 index of leading British shares was down 27.32 points, or 0.7 %, at 4,128.67, while Germany’s DAX fell 50.09 points, or 1.1 %, to 4,624.23. The CAC-40 in France was 36.30 points, or 1.2 %, lower at 3,066.55. Airlines and other travel ventures sold off on fear that recreational travel may deteriorate due to the virus.

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Foreign Markets

European markets rose following Wall Street’s gains despite news about the health of the British economy. The Office for National Statistics reported that GDP contracted 1.9% in the 1st quarter from the previous three-month period. That was far more than the 1.6 % decline posted in the fourth quarter of 2008 and above analysts’ expectations for a more modest 1.4 % drop. Britain’s FTSE 100 was up 1.1 % to 4,063.18, Germany’s DAX climbed 1.1 % to 4,585.80, and France’s CAC 40 grew 1 % to 3,039.08.

Asian markets traded lower as Japan’s Nikkei 225 stock average lost 139.02 points, or 1.6 %, to 8,707.99, and Hong Kong’s Hang Seng added 44.39 points, or 0.3 %, to 15,258.85. South Korea’s Kospi was off 1.1 % at 1,354.10 as officials reiterated their expectations for a full year economic contraction; the country is Asia’s 4th largest economy.

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Foreign Markets

Stocks were mixed overnight in Asia after Wall Street’s rebound. Japan’s Nikkei 225 stock average rose 15.97 points, or 0.2 %, to 8,727.30, while South Korea’s Kospi added 1.4 % to 1,356.02.Chinese indices fell as The International Monetary Fund said U.S. financial firms could suffer $2.7 trillion in losses through 2010, a figure nearly double its projection just six months ago ; while the worldwide total could surpass $4 trillion. Hong Kong’s Hang Seng lost 407.44 points, or 2.7 %, to 14,878.45, while Shanghai’s benchmark fell 74.48 points, or 2.9 %, to 2,461.35. In Europe, equities edged slightly higher. Britain’s FTSE 100 was up 0.3 % to 4,000.19, Germany’s DAX added 0.5 % to 4,525.27, and France’s CAC 40 rose 0.6 % to 2,990.15.

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Foreign Markets

Energy stocks led the way overseas as violence continues in Gaza. On a shortened trading session, Japan’s Nikkei 225 stock average gained 112.39 points, or 1.3%, at 8,859.56 bringing its yearly loss to 42%. Hong Kong’s Hang Seng index fell 0.7% to 14,235.50. South Korea’s Kospi gained 0.6% to 1,124.47; however the index was down 40.8% in 2008.

In Europe, Britain’s FTSE-100 gained 0.9% to 4,359.39, Germany’s DAX increased 2% to 4,799.86 and France’s CAC-40 rose 1.6% to 3,179.64.

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Foreign Markets

The global marketplace tumbled as word came that progress in the Senate on the $14 auto rescue package has stalled. Japan’s Nikkei gained 140.02 points, or 1.6%, to 8,739.52.
Hong Kong and Australian markets were closed, as were those in Britain, Germany and France.

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