Mixed Trading On Global Stock Markets
By Stewart Douglas
October 3, 2007
Stock markets across the world have experienced a day of mixed market trading today, with hopes of a further Federal Reserve interest rate cut doing little to curb the anti-investment sentiment arising from lower pending home sales.
Europe saw an overall fall in its unemployment figures to give the leading exchanges there a boost, whilst the Bank of England’s second snubbed liquidity offering was enough to send the FTSE down slightly in red at the close of play.
With more data expected to show US weakness over the course of the week, it is thought that share sell-offs may continue until the Federal Reserve meets to discuss interest rates. It is then anticipated that shares will bounce slightly, before reacting either way to the Reserve’s comments.
The Dow Jones returned to negative business after yesterday’s astonishing performance which saw analysts buoyed by the prospect of further Federal Reserve interest rate cuts. By the close of play today its was down 32.19 points, yet still comfortably above the landmark 14,000 at 14055.5.
The NASDAQ managed to see moderate growth on the day by comparison gaining 4.89 points to 2745.9, building on the momentum of trade yesterday. The S&P 500 was down marginally by 1.08 points to 1546.0.
In Europe the German DAX 30 exchange was strong on the day as a result of the record low unemployment figures from within the eurozone. It gained 24.36 points on yesterday’s trade to finish well up at 7946.8, just a good day’s trade away from breaking through 8,000.
Similarly the French CAC 40 exchange in Paris saw a similar sentiment, gaining 26.01 points on the day to secure the strong growth over the last few days on the index. By the close of trade it was up by 26.01 points to 5799.3.
The FTSE 100 in London slid just back into red on the day as a result of the Bank of England’s rejection amongst other things, seeing a fall of 5.80 points to 6500.4.