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API, DSH, FLT, NAB, STO, WPL,

AAP

2012-11-14

A roundup of trading on major world markets:

NEW YORK - US stocks were mixed in early trade amid worries about Greece's debt crisis and a US "fiscal cliff" of spending cuts and tax hikes at year-end which threaten to drag the economy into recession.

After opening lower, the Dow Jones Industrial Average was up 19.43 points (0.15 per cent) at 12,834.51 by 1545 GMT.

The broad-market S&P 500 edged down 0.93 point (0.07 per cent) to 1,380.96, while the tech-rich Nasdaq Composite fell 12.84 (0.44 per cent) to 2,891.41.

LONDON - European stocks rebounded as the threat of an immediate Greek default receded but the euro hit a two-month low against the dollar on falling German investor confidence.

London's FTSE 100 index of top companies rose 0.33 per cent on Tuesday to 5,786.25 points, while in Paris the CAC 40 gained 0.56 per cent to 3,430.60 points and in Frankfurt the DAX 30 ended flat at 7,169.12 points.

Stocks spent most of the day down and the euro slipped to $1.2662, its lowest level since September 7, after investor sentiment in Germany dropped unexpectedly, renewing fears the eurozone's biggest economy could tip into recession.

The index of investor confidence compiled by the ZEW economic institute fell to minus 15.7 points in November from minus 11.5 in October.

The euro recovered to $1.2715, marginally up from $1.2709 late in New York on Monday.

HONG KONG - Asian markets fell on uncertainty about the global economic outlook as the US "fiscal cliff" looms and much-needed bailout cash for Greece was delayed.

The yen rose against the euro and the US dollar on Tuesday as investors sought safety, dealing a blow to Japan's exporters.

Chinese shares declined as property shares tumbled on concerns over government intentions to maintain policies to control housing prices, dealers said.

Tokyo was down 0.18 per cent, or 15.39 points, at 8,661.05, as an early bargain-hunting rally yielded to concern about the stubbornly high yen.

Sydney fell 1.53 per cent, or 68.23 points, to 4,379.8, its biggest fall in four months. Seoul lost 0.59 per cent, or 11.17 points, to end at 1,889.70.

Hong Kong fell 1.13 per cent, or 241.65 points, to 21,188.65 and Shanghai gave up 1.51 per cent, or 31.39 points, to 2,047.89.

WELLINGTON - The NZX 50 Index fell 13.441 points, or 0.3 per cent, to 3970.55.