Markets & Finance

Europe and Asia Lower


European stock markets were lower on Monday. In London, the Financial Times-Stock Exchange 100 was closed for the Boxing day holiday.

In Germany, the DAX Index, which rose at outset after jumping 10 points Thursday, fell 16.26 to 4235.36 as the Bild newspaper reported Germany's December joblessness rose by 173,000 to 4.43 million, the highest December level since 1997. 22 DAX stocks were down, 7 were up on turnover of 32,619,000 shares. Yields on 10-year Bunds were off to 3.61% from 3.59% Thursday. The euro was up at $1.3631. Munich Re and Tui fell on worries about insurance claims that could result from tsunami damage caused by the earthquake off the Indonesian island of Sumatra Sunday. Bayer, which is ending the development of its experimental stroke drug, fell for a second day. Freenet.de rose on a report that Mobilcom would increase stake in company.

In Paris, the CAC 40, which edged up at outset after rising 14 points Thursday, fell 5.07 to 3817.69. 24 CAC stocks were down and 15 were up on turnover of 40,370,000 shares. Yields of 10-year bonds rose to 3.61% from 3.58% Thursday. Accor and Club Mediterrane fell as the earthquake off Sumatra, Indonesia and resulting tsunami waves raised concerns that travel plans will be canceled. Marionnaud Parfumeries were higher on news that Belgium's Distripar bought at 5.01% stake in company.

Asian markets were mostly flat. Japan's Nikkei lost 3.13 points, or 0.33%, to close at 11,362.35.

In Hong Kong, the Hang Seng was closed for holiday.

Canada's benchmark TSX/S&P was closed for the long holiday weekend.


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