FTSE Eurofirst 300 adds nearly 2 percent

Markets made significant gains in Europe on Wednesday. The FTSE Eurofirst 300 added 1.96 percent to 1,554.5. In Frankfurt the Dax was up 1.23 percent to 7,605.94, while the Paris CAC-40 gained 2.29 percent to 5,749.29 and the IBEX was 2.4 percent higher to 15,004.2 in Madrid. The semiconductors and insurance sectors saw gains, as did property investors. The pharmaceuticals sector was mixed. Airlines and car and truck manufacturers were lower on the session.

In London the FTSE 100 added 1.35 percent to 6,393.9, while the FTSE 250 gained 1.96 percent to 11,455.
Engineering groups and electricity generators were down on the day, but property investors, the financial services sector, and builders saw gains.

The New York equities markets were higher in early afternoon trade, with the Dow Jones Industrial Average up 0.84 percent to 13,617.78. The Nasdaq Composite was 1.92 percent higher to 2,610.69, while the S&P 500 had added 1.15 percent to 1,493.72. Home builders, banks, and computer-related sectors were all higher.

Asia-Pacific equities markets were higher as well, with several making substantial gains. In Indonesia, the Jakarta Composite was the world’s biggest mover on the day, adding 4.1 percent to 2,262.64. Elsewhere, the Shanghai Composite was up, but only by 0.26 percent to 4,663.16. Australian indices saw gains after the Reserve Bank of Australia raised the interest rate to 6.5 percent, its highest level in 11 years. The Sydney Ordinaries was 1.85 percent to 6,124.7, while the S&P/ASX200 gained 1.93 percent to 6,100.8.

South Korea’s Kospi index was up 2.34 percent to 1,903. In India, the Sensex added 2.51 percent to 15,307.98, while the Taiex index gained 2.68 percent to 9,099.46. The Hang Seng index had its biggest 1-day rise in 3 years as it added 2.87 percent to 22,536.67 in Hong Kong. Meanwhile in Singapore, the Straits Times index was 3.37 percent higher to 3,413.17, its best day in 4 years.

In Tokyo, the Nikkei 225 added 0.64 percent to 17,029.28, while the Topix index gained 0.53 percent to 1,669.04. On the other hand, the Mothers market dropped 2.15 percent to 783.78. Banks were higher, while the telecommunications sector gained on higher subscription rates. However, machinery makers were lower on fewer orders and there were declines in the food and beverages sector.

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