Dow, Asian markets see records

The European equities markets were quiet on Monday as the London exchanges were closed for a Bank Holiday. The Eurofirst 300 ended the session 0.02 percent higher to 1,594.3 after rising as high as 1,596.77 during the day. In midday trade, the Xetra Dax was up 0.8 percent to 7,523.48 but had dropped 0.12 percent by the close, while in Paris the CAC-40 was slightly lower at 6,067.91 at noon but had added 0.04 percent by the end of the session as the outcome of the weekend’s presidential election seemed to have little effect on investor sentiment. The banking sector was unsettled on continuing developments in bids for ABN Amro (Euronext AAB; NYSE: ABN). There were gains in the chemicals sector.

Asian equities markets were mixed but mostly higher during the day. The main exception to the gains was in India’s Sensex, which dropped 55 points on the session, to 13,879. The Hang Seng index reached a record 21,070.21 before closing at 20,896.64. In South Korea, the Kopsi index was also in record territory, closing 1.1 percent higher on the session after having seeing a record high of 1,585.7 during the day. After last week’s closures for the Golden Week holidays, the Tokyo markets saw significant gains as the Nikkei 225 added 1.6 percent to 17,669.83, while the Topix index was 1.7 percent higher to 1,733.03. A weaker yen and weak economic data from the US that had some analysts expecting an interest rate cut there soon combined to help exporters, including carmakers and the electronics and cameras and copiers sectors in Tokyo. Other gainers included the internet sector, steel, and real estate.

On Wall Street, midday saw the markets higher on bids news and ahead of a meeting of the Federal Reserve later in the week. The Dow Jones Industrial Average was 0.35 percent higher to 13,310.53 after hitting a new record high of 13,311.35 earlier in the session. The Nasdaq Composite was up 0.16 percent to 2,576.2, while the S&P 500 had gained 0.29 percent to 1,509.96. The Russell 2000 index of small and mid-caps had added 0.09 percent to 833.6. A bid in the aluminium sector brought significant gains there, while quarterly results meant a decline among food and beverage makers and gains in the manufacturing sector.

Story link: Dow, Asian markets see records