Canada Shares Fall on Mounting Jobless Data
Canada's benchmark TSE 300 spent the day in negative territory and closed down 50.6 points to 7644.7. Nortel was under pressure all day as was the heavily weighted Financial Services subindex. Industrials and Financials led 11 of the subindices lower. The Canadian economy shed 14,000 jobs in July; economists expected a gain of 5,000 jobs.
European markets were mixed. In London, the Financial Times-Stock Exchange 100 index ended higher by 24.30 points, or 0.45%, to 5,427.20 amid some favorable earnings reports and forecasts. In France, the CAC 40 finished off 42.48 points, or 0.86%, to 4,846.02. In Germany, the DAX Index was down 78.79 points, or 1.43%, to 5,433.49 as markets are still reeling from Bayer AG's drug recall earlier in the week and indications that the economy is slowing.
Asia markets ended mixed. The Nikkei gained 19.50 points, or 0.17%, to 11,735.06. In Hong Kong, the market added 49.04 points, or 0.42%, to 11,765.81.