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Market Update : 
IMF Estimates Loan Loss to Reach $1 T
Author: 123jump.com Staff
123jump.com
Last Update: 4:39 PM EDT April 08 2008


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European markets were on the decline after the IMF report suggested that total losses related to U.S. riskly loans could reach $1 trillion. The report predicted dire consequences for banks and financial systems if financial regulators and banks do not act quickly. Banks and brokerage stocks across the region fell.

 
STMicroelectronic NV, the Europe''s largest semiconductor maker declined 3.3% to 7.11 euros.
Infineon declined 6.1% to 4.77 euros and Postbank dropped 4.5% to 58.20 and Deutsche Post lost1.2% to 20.37 euros.

Deutsche Lufthansa AG, Europe''s second-largest airline declined 2.1% to 17.37 euros and MTU Aero Engines Holdings AG lost 4.8% to 26.82 and Solon AG lost 6.1% to 48.90.

World markets

In Tokyo Nikkei 225 Index closed lower 199.80 or 1.49% to 13,250.43, in Hong Kong Hang Seng index decreased 267.07 or 1.09% closed to 24,311.69. In Australia ASX 200 index lower 53.50 or 0.95% to close 5,571.50. In Malaysia KL Composite index increased 4.64 or 0.38% closed to 1,225.71.

In South Korea Kospi Index decreased 18.85 or 1.06% to close at 1,754.71, in Thailand SET index closed higher 2.05 or 0.25% to 826.85 and Indonesia JSE Index edged decreased 37.03 or 1.62% to 2,249.77. Sensex index in India decreased 169.46 or 1.08% to 15,587.62.

In London FTSE 100 Index closed lower 24.60 or 0.41% to 5,990.20, in Paris CAC 40 Index decreased 31.91 or 0.65% to close at 4,912.69 and in Frankfurt DAX index lower 49.05 or 0.72% to close at 6,771.98. In Zurich trading SMI decreased 71.16 or 0.93% to close at 7,568.14.
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