New York markets higher at midday

New York markets were higher at midday on higher investor confidence after Countrywide Financial (NYSE: CFC) said it had been able to find credit. The Dow Jones Industrial Average was 1.09 percent higher to 13,436.59, while the Nasdaq Composite had added 0.48 percent to 2,604.51 and the S&P 500 had gained 0.96 percent to 1,485.69. Carmakers, the retail sector, and fast food chains saw gains, while there were declines within the semiconductors and media sectors.

The FTSE Eurofirst 300 was 1.02 percent higher to 6,363.9 as European markets made gains on Thursday. Madrid’s IBEX gained 0.7 percent to 14,077.8, the Dax added 0.84 percent to 7,535.97, and the Paris CAC-40 was up 1.05 percent to 5,565.97. Steel-related shares were higher, as were utilities, the media sector and stock exchange operators. On the other hand chipmakers, the automobile manufacturing and telecommunications sectors and financial services saw declines.

In London, however, the markets were mixed. While the FTSE 100 added 0.91 percent to 6,363.9, the FTSE 250 was down 0.42 percent to 11,172.4. Miners and the telecommunications sector saw gains. So did the oil sector, construction engineers, and some financial services groups, although banks were lower. Other sectors seeing declines included human resources, some retailers, drug makers and property developers.

Most equities markets in the Asia-Pacific region were higher on Thursday. The big exception outside of Tokyo, which saw mixed results, was Taiwan’s Taiex index. The Taiex was 1.01 percent lower to 8,927.42. In Australia, the Sydney Ordinaries added 0.14 percent to 6,244.6 and the S&P/ASX200 was up 0.17 percent to 6,230.6. The Straits Times index gained 0.15 percent to 3,504.4. India’s Sensex was 0.7 percent higher to 15,614.44, while in Hong Kong the Hang Seng set its second record high in a row as it added 0.93 percent to 24,537.03. In South Korea, meanwhile, the Kospi index was up 1.9 percent to 1,848.02 while in China the Shanghai Composite gained 1.95 percent to 5,273.59.

Tokyo’s markets were mixed on the session. While the Nikkei 225 gained 0.15 percent to 15,821.19, the Topix index dropped 0.35 percent to 1,522.87 and the Mothers market was down 3.03 percent to 628.83. Several stocks in the construction and retail sectors with ties to the most likely successor to resigned Prime Minister Shinzo Abe, Taro Aso, gained early in the session but were down by the end of the day. The banking sector was also lower, but the pharmaceuticals sector saw gains on the session.

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