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Market Update : 
HBOS Rights Offering, Fewer Mortgages in March
Author: 123jump.com Staff
123jump.com
Last Update: 4:49 PM EDT April 29 2008


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Governor Mervyn King was reappointed to the Bank of England by the Treasury Committee in the UK. During the hearing King said that inflation in 2009 may be above 3%. Separately, the Bank of England reported that UK banks issued 64,000 mortgage loans in March compared to 72,000 in February. Mortgage lender HBOS said that it will launch £4 billion rights issue to meet capital requirements.

 
Commodity stocks declined after crude oil prices fell by $1.00 to $117.75 after topping a record $119.93 a barrel on yesterday.

Metal prices and gold slipped as well. BHP Billiton fell 3.14%, Xstrata declined 2.86% and Antofagasta shed 2.37% as a result.

World markets review

In Hong Kong Hang Seng index increased 247.86 or 0.97% closed to 25,914.15. In Australia ASX 200 index higher 4.20 or 0.07% to close 5,606.90. In Malaysia KL Composite index decreased 11.66 or 0.90% closed to 1,283.65. There was holiday in Japan.

In South Korea Kospi Index decreased 11.66 or 0.64% to close at 1,811.51, in Thailand SET index closed lower 2.79 or 0.33% to 833.63 and Indonesia JSE Index edged increased 49.22 or 2.18% to 2,303.53. Sensex index in India increased 362.50 or 2.13% to 17,378.46.

In London FTSE 100 Index closed lower 1.00 or 0.02% to 6,089.40, in Paris CAC 40 Index decreased 35.65 or 0.71% to close at 4,977.10 and in Frankfurt DAX index lower 39.99 or 0.58% to close at 6,885.34. In Zurich trading SMI decreased 88.14 or 1.17% to close at 7,462.00.
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