By James Langton
(March 10 – 09:00 ET) – Today StatsCan reported that in February 35,700 new jobs were created, all of that in full-time labour and in the service industries. The unemployment rate was static at 6.8%. These numbers are in line with expectations and point toward continued
economic growth.
The New Housing Price Index was reported 1.7% higher for January 2000 over last January. On a monthly basis the index was unchanged.
In Europe stocks are up led by telecoms and techs. These gains come in the face of hawkish talk from the European Central Bank which was rattling the rate sabre overnight. Nevertheless, France’s CAC 40 is leading the way up 87 points to 6,510. London’s FTSE has added 63 points to 6,595. The German DAX is up 66 ticks to 8,015.
Yesterday’s hot gossip, a possible Deutsche Telekom AG takeover of Qwest Communications International Inc. and U S West Inc., has fizzled. Talks have
apparently broken off after U S West rejected its bid.
Alcan may be given approval to buy Alsuisse, but not Pechiney, according to
a Reuters report.
In Asia markets ended the week on an up note too. The Nikkei finished up 88 points to 19,750, although its techs were its weak point. The Hang Seng index powered higher on giant Hutchinson, finishing up 195 points to 17,832.