Toronto Index Ekes Out a Small Gain
After a choppy day the TSE 300 closed at 7967.3, up a meager 7 points on the day and down 132 points (1.6%) on the week. Negative bias in key stock Nortel was an inhibiting factor offset, partly, by the strong close in the US indices. 7 subindices closed up lead by Industrials and Financials while the Pipelines lead the other 7 subindiec lower. Risk is for continued weakness next week.
European markets ended Friday with strength on the heels of solid U.S. GDP data. In London, the Financial Times-Stock Exchange 100 index finished up 83.10 points, or 1.42%, to 5,951.40. In Germany, the DAX Index gained 51.58 points, or 0.84%, to 6,175.24. In France, the CAC 40 ended up 94.24 points, or 1.72%, to 5,575.97.
In Asia, the markets finished mixed. The Nikkei lost 38.71 points, or 0.28%, to 13,934.32. In Hong Kong, the Hang Seng added 92.93 points, or 0.70%, to 13,386.04.