Tuesday, September 1, 2009

European stocks lose ground

"We have lower volumes today and investors have been a little muted with trading choppy," he noted, adding that London trade was expected to wind down this week ahead of a public holiday next Monday.
Wall Street forged 2009 highs on Tuesday, lifted by strong consumer confidence and home prices data, and US Federal Reserve chief Ben Bernanke's nomination to serve a second term.
The Dow Jones Industrial Average climbed 0.32 percent to 9,539.29 points, its highest level of the year so far.
The Tokyo stock market rallied Wednesday to its highest level in almost 11 months as a rebound in US consumer confidence and Chinese share prices cheered investors.
Japan's benchmark Nikkei-225 index jumped 1.36 percent to 10,639.71 points, the best finish since October 3.
But European shares pulled lower, with London also dampened by news of tumbling profits at WPP, the world's second-biggest advertising group.
WPP announced that first-half net profit sank 47.9 percent as companies slashed their advertising budgets in the face of a "severe" worldwide recession that was sparked by the international financial crisis.

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