Canadian Stocks Eke out a Gain
Canada's benchmark TSE 300 closed up 8.5 points Friday to 7426.6 -- not very impressive, especially compared to the 133 point surge in the Dow (note the lethargic Nasdaq as well). On the week, the TSE 300 wass down 89 points (1.2%).
European stocks fell, led by phone companies. In London, the FTSE 100 indes ended with a loss of 22.60 points, or 0.45%, to 5,050.70 in reaction to the U.S. market slide and the uncertain outlook. In Germany, the DAX index lost 105.15 points, or 2.17%, to 4,745.58 on worries about the German economy. Deutsche Telekom AG said it sees little chance of selling cable-television networks that it had planned as part of its debt-reduction effort.
In France, the CAC 40 dropped 42.02 points, or 0.98%, to 4,245.20 following a report that French GDP fell 0.1% in the fourth quarter as exports slumped. Orange SA fell amid speculation France Telecom SA will sell stock in its cellular unit to cut debt.
Asian markets ended mixed as stronger sentiment on hopes for anti-deflation measures and financial reforms was offset by weakness in U.S. stocks. In Japan, the Nikkei rose 61.36 points, or 0.60%, to 10,356.78. In Hong Kong, the Hang Seng lost 123.96 points, or 1.15%, to 10,664.94.