Tags : world markets, dow jones, nasdaq results, us europe markets
Posted: Saturday , Nov 01, 2008 at 1019 hrs IST New York, November 1: :
Equities in Frankfurt, London, New York and Paris have all plunged by 15 to 17 per cent since the beginning of October.
A rally in US and European share markets stayed on track, delivering solid gains at the end of a month of wild volatility and losses amid fears a deep recession lies ahead.
Equities in Frankfurt, London, New York and Paris have all plunged by 15 to 17 per cent since the beginning of October, and Tokyo lost about one-quarter of its value.
The Dow Jones Industrial Average jumped 144.32 points (1.57 per cent) on Friday to close at 9,325.01, pushing gains for blue chips for the week to an eye-popping 11 per cent. But for the month the index was still down 14 per cent.
The NASDAQ composite climbed 1.32 per cent to 1,720.95 and the Standard & Poor's 500 rose 1.54 per cent to 968.75.
In Europe, following a mixed performance in Asia, sentiment brightened: in London, the FTSE 100 index added 2.0 per cent to 4,377.34, while in Paris the CAC 40 rose 2.33 per cent to 3,487.07.
The Frankfurt DAX advanced 2.44 per cent to end the week at 4,987.97. London investors digested news that British bank Barclays was to raise USD 11.7 billion, mostly from investors in oil-rich Abu Dhabi and Qatar, to bolster its finances amid the global credit crunch.
Other markets were mixed. Brazil's Bovespa fell 0.51 per cent and Canada's S&P/TSX lost 0.95 per cent but Mexico's Bolsa rose 0.56 per cent.
Shares fell sharply in Tokyo, down 5.0 per cent, even though Japan's central bank cut its super-low interest rates for the first time in seven years -- by 20 basis points to 0.3 per cent.
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