Canada Stocks Close Lower on Nortel Warning

Tech stocks pull down Europe bourses; Asia markets finish down

Canada's benchmark TSE 300 closed down 104 points to 7816.1. More bad news from Nortel and JDS Uniphase, plus the US$4 drop in gold, the negative U.S. indices and this morning's stronger-than-expected Canadian CPI report were all weights. On the week the TSE 300 was down 312.2 points (3.8%).

European markets closed lower in a carryover of Thursday's negativity. In London, the Financial Times 100 Index ended off 29.50 points, or 0.51% to 5723.00. France's CAC 40 Index closed down 53.23 points, or 1.00%, to 5243.84. Germany's Dax Index lost 83.99, or 1.39%, to 5947.28.

Asian markets closed lower. In Japan the Nikkei finished down 0.4% at 12,790.38, recovering from heavy losses in early trade after Japan's central bank decided Friday to keep its monetary policy unchanged, despite growing fears about the nation's deteriorating economy. Hong Kong's Hang Seng index fell 146.39 points to 13,102.50.

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