Canadian Rise on U.S. Manufacturing Data
Canadian stocks closed higher despite a downturn in U.S. stocks after Bush demanded China returned downed American airmen. The TSE 300 climbed 34.70 points to 7642.70 as shares of Industrial Products and Utilities and Financial Services rose. All subindexes closed in positive territory with the exception of Pipelines and Gold & Precious Minerals. Breadth was 662-540 positive. Government of Canada bonds were lower along with Treasuries as a stronger-than-expected increase in March NAPM, with lower inventories and rising prices, suggested that an intrameeting Fed rate cut was not in the cards.
Stocks markets in Europe finished mixed. In London, the Financial Times-Stock Exchange 100 index ended down 15.20 points, or 0.27%, to 5,618.50. In Germany, the DAX Index ended down 69.19 points, or 1.19%, to 5,760.76. In Paris, the CAC 40 finished up 30.03 points, or 0.58%, to 5,210.48.
Asia markets finished on a down note. In Japan, the Nikkei 225 closed down 61.84 points, or 0.48% at 12,937.86. In Hong Kong, the Hang Seng closed down 33.34, or 0.26%, to 12,727.30.