Canada Shares Close Modestly Higher

Europe markets end lower on global economic concerns; Asia markets also tumble at the close

Canada's benchmark TSE 300 closed up 41.1 points to 7695.3 after a choppy trading session. The bullish reversal in the Dow index and the US$5.20 surge in spot gold were supports.

European markets finished lower on worries that a global slowdown could last longer than previously expected. In London, the Financial Times-Stock Exchange 100 index closed down 73.60 points, or 1.34% to 5,402.90, while bonds climbed on signs of slowing economic growth that heightened speculation that the Bank of England will have to cut rates again soon to get things moving again. In Germany, the DAX Index shed 102.23 points, or 1.82%, to 5,512.28, on worries about the economic slowdown. In France, the CAC 40 ended lower by 97.93 points, or 1.96%, to 4,888.30.

Asia markets ended lower, on the heels of the Fed's beige book report. The Nikkei 225 index ended off sharply, down 409.11 points, or 3.36%, to 11,754.56. In Hong Kong, the Hang Seng stock index lost 241.24 points, or 2.02%, to 11,716.77.

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