Asian, European markets mixed

New York equities markets were higher in midday trade on Tuesday after the Dow Jones Industrial Average rose above the 14,000 level for the first time, hitting 14,011.51 in morning trade before dropping back to 13,989.51, still a gain of 0.3 percent at mid-session. The Nasdaq Composite was 0.4 percent higher to 2,707.94, while the S&P 500 had added 0.2 percent to 1,551.86. Internet-related sectors and semiconductors saw gains ahead of quarterly reports. The media sector, however, was mixed, and pharmaceuticals and consumer goods groups saw declines.

Asia-Pacific markets were mixed on Tuesday. The Straits Times index in Singapore added 0.13 percent to 3,651.05, while the Hang Seng index was 0.45 percent higher to 23,057.3 in Hong Kong. In Australia, however, the Sydney Ordinaries dropped fractionally to 6,418.2, while the Sensex was down 0.14 percent to 15,289.82 in India.

Tokyo markets were also lower after Monday’s earthquake in the northern part of the country. The Nikkei 225 dropped 0.1 percent to 18,217.27, while the Topix index was 0.3 percent lower to 1,778.11. Insurers were lower, hit by expectations of heavy damage claims after the earthquake in Japan on Monday, while utilities were also lower after reports of earthquake damage to facilities. Carmakers also saw declines, but the transport sector and trading companies were higher on the session.

European markets were mostly lower, with the notable exception of Madrid’s IBEX, which added 0.29 percent to 15,153.8. In Paris, the CAC-40 dropped 0.43 percent to 6,099.21, while the Dax was 0.83 percent lower in Frankfurt to close at 8,038.21. The FTSE Eurofirst 300 was down 0.49 percent to 1,622.34. The steel sector saw gains, as did foods groups, the pharmaceutical sector and chemicals companies. Utilties and banks were mixed, while car and truck makers declined. Other sectors seeing losses on the session included oil and media.

In London the FTSE 100 fell 0.58 percent to 6,659.1, while the FTSE 250 was 0.98 percent lower to 11,801. Food processors, the telecommunications sector, the healthcare sector and banks were higher on the day. Declines came among miners, investments trusts, aerospace, and publishers.

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