Markets & Finance

Toronto Shares Extend Gains


Canada's benchmark TSE 300 closed up 42 points to 7,690.5. Of the 14 subindices, ten rose -- led by the oil & gas sector. Gold & precious minerals issues also advanced as gold prices surged to two-week highs. On the week the TSE 300 is up, but only 31.2 points, or 0.4%.

Europe markets finished mixed. In London, the Financial Times-Stock Exchange 100 index rose 24.90 points, or 0.48%, to 5,189.70 after Britian's Purchasing Managers Index rose to 46.4 from 45.2 in December, but a manufacturing index slowed a bit.

In France, the Paris CAC 40 fell by 6.31 points, or 0.14%, to 4,455.56.

Germany's DAX index lost 8.18 points, or 0.16%, to 5,099.43 after the German Purchasing Managers Index rose to 44.3 from 43.5 in December. Surveys say EuroZone GDP will rise 0.3% in Q1.

Asian markets ended lower. Japan's Nikkei 225 index lost 206.37 points, or 2.06%, to 9,791.43 as losses deepened as investors squared positions prior to the weekend. Leading tech shares lower was NEC, with a 10.8% drop to after it doubled its fiscal year 2001 net loss forecast. S&P said that Japan's credit quality is likely to keep deteriorating in 2002, noting the country's "worrisome deflationary recession." This exacerbated fears of damage to banks' balance sheets from the growing number of corporate bankruptcies.

Hong Kong's Hang Seng index fell 34.05 points, or 0.32%, to 10,691.25.


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