Sunday 20 June 2004

Stock markets quiet

Stock markets were generally quiet last week, with most markets turning in flattish performances.

Last week, the S&P 500 lost 0.1 percent, its first weekly decline in four. The Nasdaq fell 0.7 percent, dropping for the fourth straight week. However, the Dow Jones rose 0.1 percent, its fourth straight weekly gain.

Europe’s performance was mixed. For the week, France’s CAC rose 1.1 percent, Germany’s DAX slipped 0.4 percent and the UK’s FTSE 100 climbed 0.5 percent.

In Japan, the Nikkei shed 225.82, or 2 percent, its biggest decline since May 17, to 11,382.08 on Friday. For the week, the Nikkei was down 1.3 percent, the second weekly fall in three.

Hong Kong and Taiwan also saw their second declining week in three.

In Singapore, the Straits Times Index was down 1.7 percent, giving up all its gain from the previous week.

Trading volumes were generally low around the world’s bourses. With summer here and the European Championship distracting traders, they are not likely to pick up any time soon.

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