Created: Apr 28, 2007 11:00 AM
LONDON - Britain's top share index fell to its lowest close in two weeks as commodity shares and concerns over U.S. economic growth weighed on the market, but brewer Scottish & Newcastle leapt on bid hopes.
The FTSE 100 closed at 6,418.7 points, down 50.7 or 0.78 percent, a drop of 68.1 points from last Friday.ROUNDUP:EUROFIRSTEUROPE - European stocks ended on a negative note, dragged down by resources and by banks as the battle for ABN AMRO rumbled on, while a handful of upbeat earnings helped stem the slide.
Among major movers, Scania rallied after beating its earnings forecasts while Scottish & Newcastle and Deutsche Post rose amid ongoing merger speculation.
"We might get market blips and corrections, but overall, the undertone of the market is quite strong, I'd be buying on dips at the moment," said Richard Robinson, fund manager at Ashburton in Jersey. "Liquidity continues to drive the markets."ROUNDUP:EUROmarketsFRANKFURT - The DAX index ended at 7,378.12 points, down 8.9 or 0.12 percent, rising 35.58 points over the week.
PARIS - The CAC-40 index closed at 5,930.77 points, down 13.67 or 0.23 percent, 8.13 points lower on the week.
ZURICH - The Swiss market index closed at 9,419.9 points, down 61.35 or 0.65 percent, up 20.15 points from a week ago.
MILAN - The All Share Mibtel index closed at 33,892 points, down 117 or 0.34 percent.
The index added 61 points since last Friday.ROUNDUP:nikkeiTOKYO - The Nikkei average lost 0.17 percent as investors booked profits on tech shares such as Fanuc Ltd. and other gainers ahead of holidays, offsetting gains in automakers that benefited from a weaker yen. The Nikkei closed down 28.76 points at 17,400.41. The index was little changed on the week, edging down just 52.21 points.ROUNDUP:hang sengHONG KONG - Stocks tracked losses in mainland shares, falling 0.68 percent, with Chinese financial plays sliding on worries China was preparing to raise interest rates ahead of a long holiday next week.
The benchmark Hang Seng Index closed down 140.79 points to end at 20,526.50, for a weekly loss of 40.09 points.ROUNDUP:asxSYDNEY - Shares fell 0.98 percent to a two-week closing low as investors turned cautious ahead of key U.S. economic growth data, with top miners leading losses following a fall in base metal prices.
The benchmark S&P/ASX 200 index dropped 60.6 points to settle at a two-week closing low of 6,151.6. The index fell 55.9 points on the week.ROUNDUP:south africaJOHANNESBURG - The South African stock market is closed for a public holiday, Freedom Day. On Thursday the All-share index closed at 28,076.19 points, down 147.12 or 0.52 percent, falling 291.35 points on the week. The All Gold index closed at 2,892.35 points, down 19.05 or 0.65 percent, losing 97,58 points since April 20, while the Industrial index closed at 19,746.12 points, up 5.49 or 0.03 percent. The index gained 37.2 points over the week.