European, US markets see declines

European markets, on the other hand, were lower on the day. The FTSE Eurofirst 300 was down 1.17 percent to 1,449.72. Madrid’s IBEX was 0.46 percent lower to 14,603.5 while the Dax fell 0.86 percent to 7,782.71 and the Paris CAC-40 dropped 1.1 percent to 5,435.42. Utilities and the telecommunications sector saw gains, but the semiconductors sector and airlines were lower on the session.

London’s markets also saw declines, with the FTSE 100 down 1.32 percent to 6,272.7 and the FTSE 250 falling 1.94 percent to 9,964. The 250 lost nearly 200 points on the day. Miners and the oil sector were mixed but mostly lower, while media, banks and the retail sector all saw declines.

Equities markets in New York were lower in mid-afternoon trade, with the Dow Jones Industrial Average down 0.46 percent to 12,531.11. The Nasdaq Composite had dropped 0.95 percent to 12,417.21 while the S&P 500 fell 0.52 percent to 1,382.91. Mortgage lenders saw declines in the wake of Tuesday’s reports that Countrywide Financial (NYSE: CFC) was going to file for bankruptcy protection, rumors that were denied by Countrywide. The chemicals sector saw gains on good corporate news, while some banks were also higher.

Most equities markets in the Asia-Pacific region saw gains on Wednesday as commodities related shares advanced on higher metals and oil prices a day after gold hit a new record high price. The Straits Times Index added 0.19 percent to 3,344.53 in Singapore while the Shanghai Composite was up 0.91 percent to 5,435.81. South Korea’s Kospi index was 1 percent higher to 1,844.47 while the Taiex gained 1.53 percent to 8,085.06 and the Hang Seng jumped 1.86 percent to 27,615.85.

A few markets in the region declined, however. The Sensex was 0.02 percent lower in 20,869.78 in India. Meanwhile in Australia, the S&P/ASX200 added 0.66 percent to 6,087.7 and the Sydney Ordinaries gained 0.74 percent to 6,159.5.

Tokyo’s markets were higher on the session. The Nikkei 225 was up 0.49 percent to 14,599.16 and the Topix index was 1.51 percent higher to 1,424.29 while the Mothers market gained 0.46 percent to 751.25. The pharmaceuticals and telecommunications sectors, banks and steel makers were all higher on the session. Exporters, including carmakers and the electronics sector, saw declines.

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