Profit-Taking Hits Europe Shares

Canada markets rise on rosy comments from central bank's Governor Dodge; Asia stocks finish lower

European markets finished lower, with French media giant Vivendi Universal heading up losses. Profit-taking following a strong week also pressured major indexes. In London, the Financial Times-Stock Exchange 100 index finished down 30.20 points, or 0.57%, to 5,293.60. In France, the CAC 40 ended down 67.25 points, or 1.44%, to 4,615.54. In Germany, the DAX Index fell 86.51 points, or 1.63%, to 5,232.22.

Canada's benchmark TSE 300 managed to hold in positive territory through the session despite the negative activity in the U.S. stock indexes. The TSE 300 ended the day with a 37.1 point gain to 7870.3. Stocks responded to the upbeat outlook by Bank of Canada Governor David Dodge, who remarked that fourth-quarter Canadian gross domestic product may have been stronger than original estimates. Barring a more serious sell off in the U.S. stock markets on Tuesday, Standard & Poor's MMS expects the TSE 300 to continue higher.

Asia markets closed higher. Japan's Nikkei added 70.87 points, or 0.65%, to 10,942.36, after investors jumped in to pick up beaten-down technology and banking stocks. In Hong Kong, the market added 190.49 points, or 1.63%, to 11,892.64.

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