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22 April 2024

World markets mixed as Bernanke warns that US economic recovery may not emerge this year


European and Asian stock markets have closed lower amid renewed fears about the capital position of leading financial firms around the world. But Wall Street has rallied modestly from 12-year lows despite a warning from US Federal Reserve Chairman Ben Bernanke that the world’s largest economy may not recover this year.

The FTSE 100 index of leading British shares closed down 34.29 points, or 0.9 per cent, at 3,816.44, while Germany’s DAX fell 40.70 points, or 1 per cent, to 3,895.75. The CAC-40 in France was down 19.82 points, or 0.7 per cent, at 2,708.05.

Earlier Tuesday, Japan's Nikkei languished near 26-year lows, closing down 1.5 per cent while Hong Kong’s Hang Seng index sank 2.9 per cent.

The Dow Jones industrial average was up 55.04 points, or 0.8 per cent, at 7,169.82.