LONDON, 6 January 2005 — The dollar yesterday gave back gains against the euro chalked up earlier as a shake-out of market positions built up over the Christmas period ran toward a conclusion. The single European currency rose to 1.3297 dollars from 1.3272 late on Tuesday in New York.
The euro dropped to as low as 1.3214 dollars in early afternoon European trading, the lowest level since Dec. 16. The dollar advanced to 103.97 yen compared with 104.48 on Tuesday.
The euro was changing hands at 1.3297 dollars against 1.3272 late on Tuesday in New York, 138.25 yen (138.61), 0.7041 pounds (0.7047) and 1.5520 Swiss francs (1.5505). The dollar stood at 103.97 yen (104.48) and 1.1672 Swiss francs (1.1677).
On the London Bullion Market, the price of an ounce of gold stood at $426 against $427.75 on Tuesday afternoon.
Meanwhile, European stock markets slipped yesterday, hit by profit-taking and a weak showing on Wall Street. The London FTSE 100 index shed 0.85 percent to close at 4,806, the Paris CAC 40 fell 0.88 percent to 3,829.36 while in Frankfurt the DAX was down 0.75 percent at the close at 4,258.24. The DJ Euro Stoxx 50 index of leading euro zone shares declined 0.81 percent to 2,947.19 points.
Elsewhere in Europe, Milan’s SP Mib index fell 0.38 percent to 30,976 points, Madrid’s Ibex-35 shed 1.05 percent to 9,024.4, Amsterdam’s AEX limped 0.71 percent lower to 350.16, Brussels’ Bel-20 lost 0.51 percent to 2,971.79, and the SMI index of Swiss shares fell 0.87 percent to 5,725.5.
In New York, US tech stocks fell yesterday. The Dow Jones Industrial Average was down 7.83 points, or 0.07 percent, at 10,622.95. The Standard & Poor’s 500 Index was down 2.32 points, or 0.20 percent, at 1,185.73. The technology-laced Nasdaq Composite Index was down 14.85 points, or 0.70 percent, at 2,093.01.
Asian stock markets closed mostly lower yesterday. The Tokyo Stock Exchange’s benchmark Nikkei-225 index lost 80.23 points to 11,437.52. In Seoul, the KOSPI index closed down 1.71 points at 885.19. In Hong Kong, the key Hang Seng Index closed down 281.54 points at 13,764.36, off a low of 13,709.58 and high of 13,941.13, on turnover of 28.04 billion Hong Kong dollars ($3.6 billion).
In Sydney, the broader All Ordinaries index closed down 17.3 points at 4,043.4. In Singapore, the Straits Times Index rose 2.55 points at 2,071.04, while the broader All Singapore Equities Index advanced 2.02 points to 535.68.
The Kuala Lumpur Composite Index rose 5.47 points at 907.96. Volume was 415.69 million shares worth some 871.12 million ringgit ($229 million). The benchmark Bombay Stock Exchange’s 30-share Sensex index finished down 192.17 points at 6,458.84.