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Market Update : 
Xstrata Lift Miners, Fed Moves Financials
Author: 123jump.com Staff
123jump.com
Last Update: 4:55 PM ET July 30 2008

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UK stocks closed higher led by miners and financials. The Fed in a conjunction with the Swiss National Bank and the ECB increased its dollar loan facility in Europe, offered longer dated short term loans and extended its access to discount window facility to commercial banks. Separately, Lloyds TSB fell 5% after it reported 70% decline in profit for the first half. However, Xstrata rose 6% after it estimated higher copper and nickel prices and higher output in the second half.

 
Retailers also plunged. Marks & Spencer shed 1.14%, Next declined 0.95% and Sainsbury dropped 0.84%.

Asian Markets Review

The Nikkei 225 Index in Tokyo closed higher 208.34 or 1.58% to 13,367.79, Hang Seng index in Hong Kong increased 432.60 or 1.94% closed to 22,690.60. ASX 200 index in Australia increased 89.30 or 1.84% to close 4,936.70. The KL Composite index in Malaysia increased 9.14 or 0.79% closed to 1,159.94.

The Kospi Index in South Korea increased 10.50 or 0.67% to close at 1,577.70. SET index in Thailand closed lower 6.83 or 1.01% to 669.90. The Sensex index in India increased 495.67 or 3.59% to 14,287.21. Market of Indonesia was closed today.

Europe Markets Review

In London FTSE 100 Index closed higher 101.50 or 1.91% to 5,420.70, in Paris CAC 40 Index increased 80.06 or 1.85% to close at 4,400.55 and in Frankfurt DAX index higher 61.32 or 0.96% to close at 6,460.12. In Zurich trading SMI increased 115.61 or 1.65% to close at 7,108.91.


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