Foreign markets roundup: European markets up, Asian markets down

Posted Jul 14th 2008 8:20AM by Brian White
Filed under: International Markets

Hong Kong markets fell along with most Asian indexes as Foxconn International led a tech stock slump and HSBC led finance stocks lower yet again on fears originating out of the U.S.

Bloomberg quoted Nisu Harajchi from N1 Asset Management as saying "I'd want to stay away from the entire equity market ... if you look at the U.S. economy, housing market, and these newly created problems, which is the credit crisis, this is a big thing, taking the entire financial industry down.''

InBev will indeed acquire U.S. alcoholic beverage maker Anheuser-Busch for $52 billion after a month of court battles and what was appearing to be the start of a hostile takeover. This puts the 156 year-old American icon under Belgian control for the first time ever.

Below is a foreign market review for this morning:

European markets:

The Dow Jones Euro Stoxx 50 Pr: at 3,227.57, up 39.79 (1.24%)
The FTSE 100 Index: at 5,360.70, up 99.10 (1.88%)
The DAX 30: at 6,231.66, up 78.36 (1.27%)
The S&P/MIB Index: at 27,893.00, up 217.00 (0.78%)

Asia/Pacific markets: