Europe Closes Lower, Asia Higher

The Nikkei closed higher with higher earnings guidance from U.S. chipmaker Texas Instruments while the Hang Seng gained on property stocks

European stock markets were lower on Wednesday. In London, the Financial Times-Stock Exchange 100 index fell 21.50 points to 5003.70 as the CBI services index fell in May for the first time in three months. While the data suggested the UK economy is slowing, reports say the Bank of England is likely to leave rates unchanged at tomorrow's meeting. 10-year gilt yields fell to 4.20% from 4.22% yesterday before meeting. 70 FTSE stocks fell, 26 rose on turnover of 1,465,000,000 shares. Sterling was up at $1.8305. July Brent crude oil futures fell, driving BP and Shell Transport lower. Crown Corp. fell after promising to take steps to improve share price. Fletcher King rose after company said its full year results beat estimates.

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