Euorpean Markets Close Mixed

Canadian shares slump after downgrades of key energy stocks

Canada's benchmark TSE 300 index lost its bullish momentum Wednesday as stocks came under selling pressure following several downgrades in the oil and gas sector and profit warning from high-profile tech name Sierra Wireless. The index closed lower by 41 points. or 0.53%, to the 7,646 level.

Most European markets ended mixed as the euro currency was introduced with few problems reported. In London, the Financial Times-Stock Exchange 100 index inched up 0.90 points to 5,218.30. The CIPS manufacturing fell slightly for tenth consecutive month and the Hometrack survey showed UK house prices rose 0.1% in December.

In Germany, the DAX Index gained 7.78 points, or 0.15%, to 5,167.88 amid reports that Germans are worried about unemployment and pensions as some brokerages issue bullish forecasts. And in France, the CAC 40 was down 44.14 points, or 0.95%, to 4,580.44.

In Japan, the markets are closed until Thursday for the holidays. The Nikkei ended 2001 at 10,542.62. In Hong Kong on Wednesday, the Hang Seng shed 46.36 points, or 0.41%, to 11350.85.

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