Canada Market Bounces Back
After dropping to 7870 in early activity the TSE 300 enjoyed a bullish reversal and closed up 26.2 points to 7981.7. While the U.S. employment report shows a slowing U.S. economy, it did increase hope for a 50 basis point cut at the May FOMC -- a boost for stocks. Note the impressive bullish reversals in the U.S. indices. On the week the TSE 300 is up a negligible 14.4 points. Another choppy week is likely next week.
European markets ended mixed following the U.S. jobless data. In London, the Financial Times 100 ended up 104.50 points, or 1.81%, to 5,870.30. Germany's DAX Index ended up 49.11 points, or 0.81%, at 6,138.28. In France, the CAC 40 finished off 1.52 points, or 0.03%, to 5,455.55.
Japan's equity markets were closed in observance of Children's Day. In Hong Kong, the Hang Seng ended Friday down sharply, losing 327.15 points, or 2.38%, to finish the session at 13,390.99.