European markets up substantially

European markets were higher on Thursday. The FTSE Eurofirst 300 gained 0.72 percent to 1,610.66, and continental markets made substantial gains. The Paris CAC-40 added 1.02 percent to 6,104, while the IBEX was 1.16 percent higher to 15,313.5 in Madrid and the Xetra Dax in Frankfurt gained 1.52 percent to 7,883.04. Banks were lower, as were chemicals and pharmaceuticals. Utilities were mixed. There were gains in the semiconductors sector based on positive broker comment.

The London markets saw gains as well, but not to the extent they were seen on the continent. The FTSE 100 gained 0.11 percent to 6,609.6, while the FTSE 250 was 0.69 percent higher to 12,105.7. Retailers saw declines, as did the pharmaceuticals sector and telecommunications companies. Miners were up on strong prices for metals. Manufacturers also saw gains.

Equities markets in Asia and the Pacific advanced on the session. The Straits Times index in Singapore added 0.47 percent to 3,511.13. In India, the Sensex gained 0.92 percent to 14,544.46, while in Australia the Sydney Ordinaries were 1.12 percent higher to 6,341.8. The Hang Seng index in Hong Kong closed at 20,634.47, a gain of 1.68 percent on the session. In Tokyo, meanwhile, the Nikkei 225 was up 1.6 percent to 17,875.75 and the Topix index added 1.3 percent to 1,755.68. The electronics sector was mostly higher, while manufacturing and machinery manufacturing both made gains.

In New York, markets were higher at midday on takeover news after gross domestic product figures came in weaker than had been hoped. The Dow Jones Industrial Average added 0.25 percent to 13,666.89 after reaching a new high of 13,673.07 in morning trade. The Nasdaq Composite was up 0.55 percent to 2,606.76, while the S&P 500 had gained 0.22 percent to 1,533.64. The financial services sector saw gains as a major takeover was announced. Retailers were mixed, with high-end sellers doing better than the others.

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