Around the World's Markets


THE stock market ended sharply lower yesterday, hit by an opening fall on Wall Street and disappointing figures from the banking giant Lloyds TSB

The FTSE 100 index closed down 73.7 points to 5837.0, while the FTSE 250 ended 2.7 off at 5482.7 and the Small Cap index finished 5.2 points higher at 2472.5.

A large provision for pension mis-selling at Lloyds surprised the market and sent the shares in the banking group plummeting.

Market Report, page 17


US STOCKS headed lower as renewed concerns about Japan overshadowed better than expected second-quarter gross domestic product. The market was still weighed down by worries about falling corporate earnings and the Asian crisis.

At 5.44 BST the Dow Jones stood at 9001.72, down 25.23. "It's very disappointing the market didn't rally with better than expected GDP figures," said Peter Coolide, senior equity trader at Brean Murray & Co.


TOKYO STOCKS closed higher amid hopes the government would move swiftly to revitalise the economy, with the markets focusing on what policies the new finance minister, Kiichi Miyazawa, would adopt. The benchmark Nikkei 225 rose 177.37 points, or 1 per cent, to close at 16,378.97.

Mr Miyazawa has already said he prefers tax cuts to a fiscal stimulus to prod consumer spending, while the newly appointed prime minister, Keizo Obuchi, has called for 6 trillion yen in tax cuts.


GERMAN SHARES ended slightly off, dragged down from early advances by Wall Street, with the benchmark Dax index closing 0.12 per cent down at 5,873.92. The Xetra Dax lost 0.76 per cent to close at 5,861.19. Merger speculation buoyed Dresdner Bank shares, which soared 6 per cent.

"There is wild speculation again that the Allianz will merge with Dresdner or otherwise there is some big merger in the wings," one dealer said.


RUSSIAN SHARES eased on profit-taking, with the RTS index falling 0.35 per cent to 149.65. Traders said the market was eager for news from the International Monetary Fund's deputy managing director, Stanely Fischer, who is in Moscow this weekend to check on progress of government reforms. A meeting between Anatoly Chubais, Russia's chief foreign debt negotiator, and President Boris Yeltsin, ended without major news despite rumours that Mr Chubais would be asked back into the government.

Start your day with The Independent, sign up for daily news emails
Arts and Entertainment
tvGame of Thrones season 5 ep 4, review - WARNING: contains major spoiliers!
Arts and Entertainment
tvThe C-Word, TV review
Arts and Entertainment
The Ridiculous Six has been produced by Adam Sandler, who also stars in it
filmNew controversy after nine Native American actors walked off set
Danny Jones was in the Wales squad for the 2013 World Cup
rugby leagueKeighley Cougars half-back was taken off after just four minutes
Life and Style
The original ZX Spectrum was simple to plug into your TV and get playing on
techThirty years on, the ZX Spectrum is back, after a fashion
Tiger Woods and Lindsey Vonn are breaking up after nearly three years together
peopleFormer couple announce separation in posts on their websites
Life and Style
Google celebrates Bartolomeo Cristofori's 360th birthday
techGoogle Doodle to the rescue
Arts and Entertainment
Haunted looks: Matthew Macfadyen and Timothy Spall star in ‘The Enfield Haunting’
tvThe Enfield Haunting, TV review
The Mattehorn stands reflected in Leisee lake near Sunnegga station on June 30, 2013 near Zermatt, Switzerland
ebooksA celebration of British elections
  • Get to the point
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs Money & Business

Recruitment Genius: Claims Administrator

£16000 - £18500 per annum: Recruitment Genius: This is an excellent opportunit...

Recruitment Genius: Senior SEO Executive

£24000 - £28000 per annum: Recruitment Genius: A Senior SEO Executive is requi...

Recruitment Genius: Online Customer Service Administrator

£16000 - £18000 per annum: Recruitment Genius: An Online customer Service Admi...

Recruitment Genius: Digital Marketing Executive

£18000 - £22000 per annum: Recruitment Genius: This global, industry leading, ...

Day In a Page

Fishing for votes with Nigel Farage: The Ukip leader shows how he can work an audience as he casts his line to the disaffected of Grimsby

Fishing is on Nigel Farage's mind

Ukip leader casts a line to the disaffected
Who is bombing whom in the Middle East? It's amazing they don't all hit each other

Who is bombing whom in the Middle East?

Robert Fisk untangles the countries and factions
China's influence on fashion: At the top of the game both creatively and commercially

China's influence on fashion

At the top of the game both creatively and commercially
Lord O’Donnell: Former cabinet secretary on the election and life away from the levers of power

The man known as GOD has a reputation for getting the job done

Lord O'Donnell's three principles of rule
Rainbow shades: It's all bright on the night

Rainbow shades

It's all bright on the night
'It was first time I had ever tasted chocolate. I kept a piece, and when Amsterdam was liberated, I gave it to the first Allied soldier I saw'

Bread from heaven

Dutch survivors thank RAF for World War II drop that saved millions
Britain will be 'run for the wealthy and powerful' if Tories retain power - Labour

How 'the Axe' helped Labour

UK will be 'run for the wealthy and powerful' if Tories retain power
Rare and exclusive video shows the horrific price paid by activists for challenging the rule of jihadist extremists in Syria

The price to be paid for challenging the rule of extremists

A revolution now 'consuming its own children'
Welcome to the world of Megagames

Welcome to the world of Megagames

300 players take part in Watch the Skies! board game in London
'Nymphomaniac' actress reveals what it was really like to star in one of the most explicit films ever

Charlotte Gainsbourg on 'Nymphomaniac'

Starring in one of the most explicit films ever
Robert Fisk in Abu Dhabi: The Emirates' out-of-sight migrant workers helping to build the dream projects of its rulers

Robert Fisk in Abu Dhabi

The Emirates' out-of-sight migrant workers helping to build the dream projects of its rulers
Vince Cable interview: Charging fees for employment tribunals was 'a very bad move'

Vince Cable exclusive interview

Charging fees for employment tribunals was 'a very bad move'
Iwan Rheon interview: Game of Thrones star returns to his Welsh roots to record debut album

Iwan Rheon is returning to his Welsh roots

Rheon is best known for his role as the Bastard of Bolton. It's gruelling playing a sadistic torturer, he tells Craig McLean, but it hasn't stopped him recording an album of Welsh psychedelia
Russell Brand's interview with Ed Miliband has got everyone talking about The Trews

Everyone is talking about The Trews

Russell Brand's 'true news' videos attract millions of viewers. But today's 'Milibrand' interview introduced his resolutely amateurish style to a whole new crowd
Morne Hardenberg interview: Cameraman for BBC's upcoming show Shark on filming the ocean's most dangerous predator

It's time for my close-up

Meet the man who films great whites for a living