AFTERNOON UPDATE / Markets
Christmas eve markets mixed bag
Prices on both the Toronto and New York stock markets were higher at noon Thursday. The Financial Times Index of 100 industrials closed early Thursday at 5,867.2, down 41.6
The TSE 300 composite index rose 4.25 to 6,451.44. Volume was active as 38.9 million shares changed hands. Declining issues led advances 413 to 333 with 272 issues unchanged. Eight of the 14 stock groups gained ground led by gold and silver which rose 52.45 to 5,871.08. Oil and gas was the biggest decliner, losing 21.44 to 4,507.75.
In New York, the Dow Jones average of 30 industrials rose 35.02 to 9,237.0. Volume was active as 188.7 million shares changed hands.
In Toronto, among industrials, Sun Media lost $0.05 to $20.90, Mortice Ke. $0.20 to $5.35; BII Enterprises gained $0.33 to $3.95, Ryan Energy Technologies $0.10 to $2.35.
Among mines, Placer Dome Inc. slipped $0.05 to $17.40, Aur Resources $0.05 to $2.50; Barrick Gold climbed $0.50 to $29.50, Barrick Gold IR $0.70 to 418.95.
Among oils, Canadian Occidental Petroleum fell $0.10 to $16.00,
Abacan Resources $0.02 to $0.43; Summit Resources Ltd. rose $0.04 to $1.55, Panatlas Energy Inc. $0.005 to $0.24.
Most Asian markets ended mostly higher in largely muted trading ahead of the Christmas holiday. In Tokyo, Asia's largest market, share prices bucked the trend, falling for a third straight session.
Investors were worried that the dramatic plunge in the price of Japanese government bonds this week, and a corresponding jump in interest rates, would hurt corporate profits, especially at the country's already badly-shaken banks, analysts said.
The Nikkei average of 225 selected issues fell 72.72 points, or 0.5 percent, to 13,706.73.
The dollar, weakened against the yen, bought 116.12 yen in late-afternoon trading, down 0.96 yen from its level of 117.08 late in Tokyo on Tuesday but slightly above 115.96 yen late in New York on Wednesday.
Tokyo markets were closed Wednesday for a national holiday.
Interest rates began rising Tuesday following the Japanese government's announcement that it would issue a record amount of new bonds next year to pay for an increase in spending.
Hong Kong shares ended higher, following gains in the U.S. and European markets, in subdued trading.
The Stock Exchange of Hong Kong closed at midday for the Christmas holiday after morning trading volume stayed at one of the lowest levels in more than two years. Volume was worth 1.51 billion Hong Kong dollars (U.S. dlrs 193 million), compared with 1.36 billion Hong Kong dollars(U.S. dlrs 174 million) at midday Wednesday, and 2.23 billion Hong Kong dollars (U.S. dlrs 286 million) for all of Wednesday.
The blue-chip Hang Seng Index ended up 133.45 points, or 1.3 percent, at 10,292.20 after trading in a narrow range.
In Singapore, the key Straits Times Index closed higher at 1392.75, up 8.22 points, or 0.6 percent, from Wednesday, also buoyed by Wall Street's gains. Like many markets in the region, trading closed at midday for Christmas Eve.
Elsewhere:
BANGKOK: Thai share prices closed higher in thin trading, with the key SET index ending 2.66 points, or 0.8 percent higher at 346.93
JAKARTA: Indonesian shares closed marginally higher in light trading ahead of the Christmas holiday. The JSX composite index ended up 1.336 points, or 0.3 percent, at 401.855.
KUALA LUMPUR: Malaysian shares finished mixed, with the benchmark Composite Index gaining 1.21 points, or 0.2 percent, to end at 552.32.
MANILA: Philippine shares finished higher, buoyed by overnight gains on Wall Street and buying by fund managers before the year ends, dealers said. The PSE rose 21.69 points, or 1.1 percent, to end at 1932.15.
SEOUL: South Korean shares closed slightly higher. The key Kospi index gained 1.83 points, or 0.3 percent, to 555.36 on continued expectations that the country's ratings will be upgraded soon, analysts said.
SYDNEY: Australian shares ended marginally higher, propped up by Wall Street's rise in a shortened trading session before the Christmas holiday. The All Ordinaries index of share prices closed midday at 2764.0, up 9.0 points, or 0.3 percent.
TAIPEI: Taiwan shares finished slightly lower for the second straight session. The Weighted Price Index closed down 5.65 points, or 0.08 percent, to 6683.00.
WELLINGTON: New Zealand share prices ended higher for the eighth consecutive session. The NZSE-40 capital index closed up 33.51 points, or 1.6 percent, higher at 2123.41. |
