Nikkei 225 reaches seven-year high close

European equities were back to declines on Thursday after a day of gains on the continent Wednesday. The FTSE Eurofirst 300 was 0.84 percent lower to 1,606.61. In Madrid, the IBEX dropped 1.02 percent to 14,882.4, while the Paris CAC-40 fell 1.04 percent to 6,029.79 and the Dax was 1.55 percent lower in Frankfurt, to 7,964.71. There were few gainers on the day. Some advances did come in the utilities, semiconductors, and telecommunications sectors. Declines came among truck makers, the chems sector and in construction. Declines continued in London, meanwhile, where the FTSE 100 dropped 0.8 percent to 6,596. The FTSE 250 fell 1.55 percent to 11,617.1. The UK oil sector saw gains, as did some utilities. Banks were mixed, while declines came in the retail, insurance, and property development sectors.

Markets in the Asia-Pacific region were mixed on Thursday. In Tokyo, the Nikkei 225 gained 0.2 percent to close at 18,240.3, its highest end-of-session level in seven years. The Topix index was also higher, adding 0.3 percent to 1,789.38, but the Mothers market of small and mid-caps dropped 0.4 percent to 941.95. The Nikkei was aided by the semiconductors sector. Some consumer finance companies were higher, but there were declines among banks.

Elsewhere in Asia, the Kospi index added 0.6 percent to 1,794.24 in South Korea. The Sensex gained 0.61 percent in India, to 14,499.24, while the Taiex index in Taiwan was 1.1 percent higher to 8,851.99. In Hong Kong the Hang Seng index added 1.25 percent to 21,954.67. Decliners on the session included the Straits Times index in Singapore, which dropped 0.11 percent to 3,633.88, and the Sydney Ordinaries, which were 0.31 percent lower to 6,401.5.

The New York markets were mixed at midday. The Dow Jones Industrial Average was 0.27 percent lower to 13,452.76 and the S&P 500 was down 0.11 percent to 1,511.13. However, the Nasdaq Composite was up slightly, gaining 0.06 percent to 2,601.44. The declines came as the Philadelphia Federal Reserve reported that its manufacturing activity index jumped to 18 in June, from 4.2 in May. This set off a fresh round of inflation and interest rate concerns. Warnings on earnings and earnings news also produced declines, notably in the food and beverages and retail sectors.

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