Canadian Shares Slide Again
Canada's benchmark TSE 300 index closed down 64.4 points Wednesday, or 0.78%, to 8194.4, the low of the day. Tuesday's bearish reversal and close at the low of the day, the 52 cent plunge in oil and the over 100 point decline in the DJIA all weighed on stocks. Eleven of the 14 subindices closed with losses, led by the Industrials (key stock Nortel declined 65 cents to C$20.05, in the critical C$19.90/20.09 support zone). S&P says look for the TSE 300 to slide to the 8148 area tomorrow.
European markets finished lower ahead of England's election for prime minister on Thursday. The Bank of England kept its benchmark interest rate at 5.25% today as evidence grows that the world's fourth-largest economy is picking up steam. Improving unemployment in Euroland is also on the front page Wednesday. The Financial Times-Stock Exchange 100 index ended down 21.00 points, or 0.35%, to 5,901.50. In Germany, the DAX Index lost 49.69 points, or 0.80%, to 6,192.44. In France, the CAC 40 finished off 19.78 points, or 0.36%, to 5,496.49.
In Asia, markets finished mixed. Japan's Nikkei 225 index lost 7.16 points, or 0.05%, to 13,174.84. In Hong Kong, the market added 124.14 points, or 0.92%, to 13,576.01.