A roundup of trading on major world markets:
NEW YORK – US stocks have followed European equity markets lower on the back of political uncertainty in Greece.
In the last hour of trade, the Dow Jones Industrial Average stood at 17,999.70, down 38.53 points (0.21 per cent).
The broad-based S&P 500 fell 8.44 (0.40 per cent) to 2,082.13 while the tech-rich Nasdaq Composite Index dipped 24.21 (0.51 per cent) to 4,782.60.
Analysts expected light volumes ahead of Thursday’s New Year holiday, but also said the market was primed for some profit-taking after soaring to new records over the last week.
Equity markets in Britain, France and Germany were all off at least one per cent as Greece set a snap election for January 25.
Analysts fear a victory by the anti-austerity Syriza party could roll back measures required under the IMF-EU bailout of the country.
“This struggle will determine whether Greece stays in Europe,” said Greek Prime Minister Antonio Samaras.
LONDON – European stock markets have fallen as traders reacted to further declines in oil prices and political turmoil in Greece which pushed the euro to a 29-month low.
Crude futures hit the lowest levels for five-and-a-half years, while the euro struck $US1.2124, its lowest point since July 2012, before rebounding.
London’s benchmark FTSE 100 index sank 1.36 per cent to end the day at 6,547 points, as heavyweight energy companies retreated on sliding oil prices.
On its last trading day of the year, Frankfurt’s DAX 30 shed 1.22 per cent to close at 9,805.55 points.
It rose by a modest 2.65 per cent over the year as weak eurozone growth weighed on Germany, Europe’s biggest economy.
Markets have also been hit by weaker growth in China that has offset stronger expansion in the United States.
The CAC 40 in Paris dropped 1.68 per cent to close at 4,245.54 points in mid-afternoon deals compared to Monday’s close.
“The political uncertainty in Greece has limited any potential for a rebound in the European equity markets due to renewed concerns regarding the eurozone’s economic prospects,” said Myrto Sokou, senior research analyst at Sucden Financial.
HONG KONG – Asian markets slipped following the previous day’s healthy gains, while the euro struggled against the dollar as Greece plunged back into crisis, rekindling fears of a possible exit from the eurozone.
With investors winding down for the end of the year, Wall Street provided a mixed lead, although the S&P 500 topped out at a new record high.
Hong Kong shed 272.08 points to 23,501.10 and Shanghai edged down 2.20 points to 3,165.82.
Tokyo sank 1.57 per cent, or 279.07 points, to end the year at 17,540.77 – up 7.12 per cent over the year and at levels not seen in seven years.
Seoul gave up 0.64 per cent, or 12.27 points, to 1,915.59.
WELLINGTON – New Zealand shares fell in light holiday trading, following falls in most Asian markets.
The NZX 50 Index dropped 15.128 points, or 0.27 per cent, to 5577.201.
