European Markets End Down, Asian Markets Mixed
European markets were lower. In London, the Financial Times-Stock Exchange 100 index closed down 33.90 points, or 0.64%, to 5,244.20 on profit taking and uncertainty about economic recovery. In France, the CAC 40 finished off 58.76 points, or 1.28%, to 4,514.28. And in Germany, the DAX Index was down 93.32 points, or 1.87%, to 4,900.25 in profit taking before the weekend. Many economic uncertainties remain despite the European Central Bank rate cut on Thursday.
Asian markets ended mixed. Japan's Nikkei fell 216.08 points, or 2.07%, to 10,215.71 as the mood darkened after the government said it expects the economy to shrink 0.9% in the year to March, down sharply from its previous estimate of 1.7% growth. In Hong Kong, the Hang Seng index gained 70.63 points, or 0.67%, to 10,609.25.
Canada's TSE 300 closed at 7209.7 up 68.9 points on the day and up 185.7 points on the week. Twelver of the 14 subindices closed up lead by the financials and oils. The sustained break above 7061/77, close just off the high of the week (7231), broad based participation argue for another positive week.