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UK Market Update : 
UK Output increases, Confidence Dips
Author: 123jump.com Staff
123jump.com
Last Update: 3:05 PM EDT April 09 2008


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UK manufacturing index rose in the first quarter but consumer confidence in March fell. The International Monetary Fund lowered the growth estimate for UK to 1.6% from 1.8% for the current year. ONS reported first quarter total output rose 0.4% on the rise of 0.3% in manufacturing. Cairn Energy led gainers in the FTSE 100 index shares with a rise of 4.5% followed by increases in BG Group of 3.4%, in Vedanta Resources of 3%, in BHP Billiton of 2.4%, and Anglo American of 2.3%.

 
Other commodity stocks rose as well. Rio Tinto edged up 1.68%, BP advanced 1.58% and Antofagasta Plc increased 1.42%.

Admiral Corp led decliners in the FTSE index shares with a drop of 4.59% followed by losses in Standard Life of 4.43%, in HBOS Plc of 4.19%, in Old Mutual Plc of 4.04%, and British Airways of 3.89%.

Realty stocks fell as well. British Land Co. shed 3.30% and Home Retail Group shed 2.17%.

World markets

In Tokyo Nikkei 225 Index closed lower 138.54 or 1.05% to 13,111.89, in Hong Kong Hang Seng index decreased 327.12 or 1.35% closed to 23,984.57. In Australia ASX 200 index lower 51.30 or 0.92% to close 5,520.20. In Malaysia KL Composite index increased 2.03 or 0.17% closed to 1,227.74.

In Thailand SET index closed lower 0.66 or 0.08% to 826.19 and Indonesia JSE Index edged decreased 69.68 or 3.10% to 2,180.09. Sensex index in India increased 202.89 or 1.30% to 15,790.51. Market of South Korea was closed today.

In London FTSE 100 Index closed lower 6.30 or 0.11% to 5,983.90, in Paris CAC 40 Index decreased 37.72 or 0.77% to close at 4,874.97 and in Frankfurt DAX index lower 50.62 or 0.75% to close at 6,721.36. In Zurich trading SMI decreased 165.06 or 2.18% to close at 7,403.08.
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