Around the World's Markets

LONDON

FINANCIALS led the market lower. Footsie fell 57.1 points to 5,433.9 in lacklustre trading. Supporting shares were also weak. Bank shares were damaged by analyst downgradings with Royal Bank of Scotland the hardest hit, down 61p to 827p, as Morgan Stanley, long-time bulls of the banking sector, turned cautious. Insurances continued to suffer from last week's poor nine month display by Royal & Sun Alliance, down 8p at 493p. CGU, with third quarter figures tomorrow, gave up 22p to 898p. Derek Pain, page 23

NEW YORK

STOCKS FELL for the first time in nine days amid profit taking and worries that the US Federal Reserve will not cut interest rates next week. JP Morgan and other banks led the decline.

In early afternoon trading, the Dow industrials fell 75.92 to 8,900.94. The S& 500 fell 11.60 to 1,129.41 and the Nasdaq composite rose 8.70 to 1,847.51.

Banks were among the biggest beneficiaries of the Fed's rate cuts on 29 September and 15 October, as lower rates boost demand for loans and credit.

TOKYO

THE TOKYO stock market staged a modest rally thanks to a slight fall in the yen against the dollar, which eased the prospects of leading exporters. The Nikkei index closed 72.57 higher at 14,194.54 but investors remained cautious, waiting for details of the government's package of measures aimed at stimulating the economy.

Export-based hi-tech stocks led the way, including Sony Corporation. But banking shares fell back, reflecting concern at the rise in the premiums Japanese banks have to pay to raise funds abroad.

HONG KONG

STOCKS SAGGED to a lower close on profit taking, after healthy gains in the past month. The benchmark Hang Seng index shed 287.8 points, or 2.84 per cent, to end at 9,851.93, with turnover shrinking from Friday's HK$9.6bn to HK$5.72bn.

Brokers said that the market was concerned the government might offload some of its HK$118bn stock portfolio, after a round of share placing by red chip companies. The red chip China-Affiliated Corporations index fell 1.24 per cent to 1,015.21.

FRANKFURT

SHARES CLOSED lower on profit-taking and on a lower Wall Street opening, but traders here remained confident of an upward trend in the market. The Xetra DAX closed at 4,762.38, down 47.35, while the DAX closed today's floor session down 67.64 at 4,768.58.

Pharmaceutical and chemicals group Hoechst rose nearly 5 per cent as rival Swiss chemical groups Ciba Specialty Chemicals and Clariant announced a merger. Hoechst, which owns 45 per cent of Clariant, ended 1 per cent lower as the broader market fell.

News
In 2006, Pluto was reclassified as a 'dwarf planet'
scienceBut will it be reinstated?
News
Jennifer Lawrence at the Vanity Fair Academy Awards party in February 2014
people12 undisclosed female victims are seeking $100m in damages
Arts and Entertainment
Adam Levine plays a butcher who obsessively stalks a woman in Maroon 5's 'Animals' music video
music'Animals' video 'promotes sexual violence against women'
News
people Biographer says cinema’s enduring sex symbol led a secret troubled life
PROMOTED VIDEO
Voices
voicesI like surprises - that's why I'm bringing them back to politics, writes Nigel Farage
News
Bear and hare woodland scene from John Lewis Christmas advert
newsRetailer breaks with tradition, selling real festive fir trees online for the first time
Arts and Entertainment
Anthony Horowitz will write the next 007 novel
booksAnthony Horowitz to write new instalment in spy series for 2015
News
British actor Idris Elba is also a DJ and rapper who played Ibiza last summer
people
News
people

Kirstie Allsopp has waded into the female fertility debate again

Sport
Kicking on: Nathaniel Clyne is relishing the challenge of the Premier League after moving from Crystal Palace
footballSurprises include a first ever call-up for one Southampton star
News
ebooksAn unforgettable anthology of contemporary reportage
Voices
4 May 2013: The sun rises over Tower Bridge in London. Temperatures across the UK could be higher than several European holiday destinations by Monday, including parts of Italy and France (Andy Hepburn/PA)
voices
News
The moon observed in visible light, topography and the GRAIL gravity gradients
science

...and it wasn't caused by an asteroid crash, as first thought

News
Researchers say a diet of fatty foods could impede smell abilities
scienceMeasuring the sense may predict a person's lifespan
News
newsGlobal index has ranked the quality of life for OAPs - but the UK didn't even make it into the top 10
Extras
indybest
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

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

iJobs Job Widget
iJobs Money & Business

Trainee Recruitment Consultant - Birmingham - Real Staffing

£18000 - £23000 per annum + Commission: SThree: Real Staffing are currently lo...

Trust Accountant - Kent

NEGOTIABLE: Austen Lloyd: TRUST ACCOUNTANT - KENTIf you are a Chartered Accou...

Graduate Recruitment Consultant - 2013/14 Grads - No Exp Needed

£18000 - £20000 per annum + OTE £30000: SThree: SThree are a global FTSE 250 b...

Law Costs

Highly Competitive Salary: Austen Lloyd: CITY - Law Costs Draftsperson - NICHE...

Day In a Page

Italian couples fake UK divorce scam on an ‘industrial scale’

Welcome to Maidenhead, the divorce capital of... Italy

A look at the the legal tourists who exploited our liberal dissolution rules
Tom and Jerry cartoons now carry a 'racial prejudice' warning on Amazon

Tom and Jerry cartoons now carry a 'racial prejudice' warning on Amazon

The vintage series has often been criticised for racial stereotyping
An app for the amorous: Could Good2Go end disputes about sexual consent - without being a passion-killer?

An app for the amorous

Could Good2Go end disputes about sexual consent - without being a passion-killer?
Llansanffraid is now Llansantffraid. Welsh town changes its name, but can you spot the difference?

Llansanffraid is now Llansantffraid

Welsh town changes its name, but can you spot the difference?
Charlotte Riley: At the peak of her powers

Charlotte Riley: At the peak of her powers

After a few early missteps with Chekhov, her acting career has taken her to Hollywood. Next up is a role in the BBC’s gangster drama ‘Peaky Blinders’
She's having a laugh: Britain's female comedians have never had it so good

She's having a laugh

Britain's female comedians have never had it so good, says stand-up Natalie Haynes
Sistine Chapel to ‘sing’ with new LED lights designed to bring Michelangelo’s masterpiece out of the shadows

Let there be light

Sistine Chapel to ‘sing’ with new LEDs designed to bring Michelangelo’s masterpiece out of the shadows
Great British Bake Off, semi-final, review: Richard remains the baker to beat

Tensions rise in Bake Off's pastry week

Richard remains the baker to beat as Chetna begins to flake
Paris Fashion Week, spring/summer 2015: Time travel fashion at Louis Vuitton in Paris

A look to the future

It's time travel fashion at Louis Vuitton in Paris
The 10 best bedspreads

The 10 best bedspreads

Before you up the tog count on your duvet, add an extra layer and a room-changing piece to your bed this autumn
Arsenal vs Galatasaray: Five things we learnt from the Emirates

Arsenal vs Galatasaray

Five things we learnt from the Gunners' Champions League victory at the Emirates
Stuart Lancaster’s long-term deal makes sense – a rarity for a decision taken by the RFU

Lancaster’s long-term deal makes sense – a rarity for a decision taken by the RFU

This deal gives England a head-start to prepare for 2019 World Cup, says Chris Hewett
Ebola outbreak: The children orphaned by the virus – then rejected by surviving relatives over fear of infection

The children orphaned by Ebola...

... then rejected by surviving relatives over fear of infection
Pride: Are censors pandering to homophobia?

Are censors pandering to homophobia?

US film censors have ruled 'Pride' unfit for under-16s, though it contains no sex or violence
The magic of roundabouts

Lords of the rings

Just who are the Roundabout Appreciation Society?