Around the World's Markets

LONDON

WORRIES ABOUT the Russian and Asian economies weighed heavily on equities. Footsie ended 62.7 points down at 5,399.5 after suffering an early 111.9 fall. Supporting shares were also weak with the small cap index falling close to its low point for the year.

BSkyB, the satellite television station, was one of the best performers, gaining 18p to 446p as the market warmed to its digital television packages. Fairey, the engineer, soared 55p to 339p on talk of a US takeover bid.

NEW YORK

US STOCKS fell on concern that Asia's stumbling economies will lead to lower US company profits and that Russia's currency slump could cause problems for financial firms.

DuPont and Boeing, which export to Asia, and JP Morgan, Citicorp and Chase Manhattan Corp - all banks with overseas finance businesses - led the decline. The Dow Jones Industrial Average fell 49.95, or 0.6 per cent, to 8503.01 in early trading, erasing a 50-point gain.

TOKYO

AS OTHER Far Eastern stock markets dived, the Nikkei broke an eight-session losing streak to end 3 points higher at 15,382. Japan's benchmark index earlier fell nearly 1 per cent to 15,239, before recovering in the last minute of trade as technical short-covering ahead of the settlement of August options today emerged.

There was little turnover, with many market participants away due to the summer holidays. However, traders said the trend was still bearish.

HONG KONG

HONG KONG stocks ended with hefty losses yesterday as fear of a devaluation of the Russian rouble and talk of another speculative attack on the Kong Kong dollar prompted heavy selling, analysts said.

The Hang Seng fell 199 points, or 2.90 per cent, to 6,660, dragged down by steep losses in HSBC Holdings, which fell 3.8 per cent, the lowest since April 1993. Hong Kong's interbank rates rose in response to Russian worries.

GERMANY

GERMANY'S DAX index finished volatile trading weaker, but off its lows after Wall Street turned negative as renewed anxiety over Asian and Russian financial crises scratched nerves. The floor-traded DAX closed 0.85 per cent lower at 5,356.23 points after falling to 5,239.10 points. The electronic Xetra DAX ended 0.59 per cent down at 5,355.03 points.

After spending most of the day in weak ground the market briefly recovered when US shares made gains in early trading.

Start your day with The Independent, sign up for daily news emails
ebooks
ebooksAn introduction to the ground rules of British democracy
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
SPONSORED FEATURES
Independent Dating
and  

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

iJobs Job Widget
iJobs Money & Business

SThree: Experienced Recruitment Consultant

£20000 - £40000 per annum + OTE + Incentives + Benefits: SThree: Established f...

SThree: Trainee Recruitment Consultant

£20000 - £25000 per annum + OTE 40/45k + INCENTIVES + BENEFITS: SThree: The su...

Recruitment Genius: Collections Agent

£14000 - £16000 per annum: Recruitment Genius: This company was established in...

SThree: Trainee Recruitment Consultant

£20000 - £25000 per annum + OTE 40k: SThree: SThree are a global FTSE 250 busi...

Day In a Page

Isis profits from destruction of antiquities by selling relics to dealers - and then blowing up the buildings they come from to conceal the evidence of looting

How Isis profits from destruction of antiquities

Robert Fisk on the terrorist group's manipulation of the market to increase the price of artefacts
Labour leadership: Andy Burnham urges Jeremy Corbyn voters to think again in last-minute plea

'If we lose touch we’ll end up with two decades of the Tories'

In an exclusive interview, Andy Burnham urges Jeremy Corbyn voters to think again in last-minute plea
Tunisia fears its Arab Spring could be reversed as the new regime becomes as intolerant of dissent as its predecessor

The Arab Spring reversed

Tunisian protesters fear that a new law will whitewash corrupt businessmen and officials, but they are finding that the new regime is becoming as intolerant of dissent as its predecessor
King Arthur: Legendary figure was real and lived most of his life in Strathclyde, academic claims

Academic claims King Arthur was real - and reveals where he lived

Dr Andrew Breeze says the legendary figure did exist – but was a general, not a king
Who is Oliver Bonas and how has he captured middle-class hearts?

Who is Oliver Bonas?

It's the first high-street store to pay its staff the living wage, and it saw out the recession in style
Earth has 'lost more than half its trees' since humans first started cutting them down

Axe-wielding Man fells half the world’s trees – leaving us just 422 each

However, the number of trees may be eight times higher than previously thought
60 years of Scalextric: Model cars are now stuffed with as much tech as real ones

60 years of Scalextric

Model cars are now stuffed with as much tech as real ones
Theme parks continue to draw in thrill-seekers despite the risks - so why are we so addicted?

Why are we addicted to theme parks?

Now that Banksy has unveiled his own dystopian version, Christopher Beanland considers the ups and downs of our endless quest for amusement
Tourism in Iran: The country will soon be opening up again after years of isolation

Iran is opening up again to tourists

After years of isolation, Iran is reopening its embassies abroad. Soon, there'll be the chance for the adventurous to holiday there
10 best PS4 games

10 best PS4 games

Can’t wait for the new round of blockbusters due out this autumn? We played through last year’s offering
Transfer window: Ten things we learnt

Ten things we learnt from the transfer window

Record-breaking spending shows FFP restraint no longer applies
Migrant crisis: UN official Philippe Douste-Blazy reveals the harrowing sights he encountered among refugees arriving on Lampedusa

‘Can we really just turn away?’

Dead bodies, men drowning, women miscarrying – a senior UN figure on the horrors he has witnessed among migrants arriving on Lampedusa, and urges politicians not to underestimate our caring nature
Nine of Syria and Iraq's 10 world heritage sites are in danger as Isis ravages centuries of history

Nine of Syria and Iraq's 10 world heritage sites are in danger...

... and not just because of Isis vandalism
Girl on a Plane: An exclusive extract of the novelisation inspired by the 1970 Palestinian fighters hijack

Girl on a Plane

An exclusive extract of the novelisation inspired by the 1970 Palestinian fighters hijack
Why Frederick Forsyth's spying days could spell disaster for today's journalists

Why Frederick Forsyth's spying days could spell disaster for today's journalists

The author of 'The Day of the Jackal' has revealed he spied for MI6 while a foreign correspondent