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US market indices fell

11 November 2008 10:23 (UTC +04:00)

Baku. Vugar Mustafayev â€“ APA-Economics. Dow Jones industrial average fell 73.27 points, or 0.82%, to 8870.54.
Standard & Poorâ€™s 500 Index dropped 11.78 points, or 1.27%, to 919.21. The Nasdaq Composite Index was down 30.66 points, or 1.86%, at 1,616.74.
The financial sector fell after Barclays Capital analysts said they expect Goldman Sachs to post a quarterly loss for the first time in its history. Shares in Goldman lost more than 8%.
Shares in General Motors fell to their lowest in 62 years after Deutsche Bank lowered its equity value on the automaker to zero.
In addition, the cost of rescuing American International Group Inc jumped to $US150 billion after a smaller bailout failed to stabilise the insurance company.
European stocks gained on the back of Chinaâ€™s new economic plan, but came off highs as the session progressed. Banks acted to limit gains, while engineers and miners rallied.
The FTSE 100 closed 38.96, or 0.89 per cent higher to 4,403.92, but well off its high of 4,524.87 points.
Franceâ€™s CAC 40 added 36.63, or 1.06 per cent to 3,505.75, while Germanyâ€™s DAX gained 87.07, or 1.76 per cent to 5,025.53.
Shares in steelmaker ArcelorMittal added 5.7 per cent and Franceâ€™s Total rose 1.2 per cent. ABB, Alstom and Siemens advanced 10.7 per cent, 12.9 per cent and 3.9 per cent respectively.
Japanese blue chips rallied nearly 6 per cent on news of the Chinese governmentâ€™s US$586 billion fiscal stimulus plan. Exporters were also supported by the yenâ€™s weakness, which makes their products more competitive in international markets.
The benchmark Nikkei 225 was up 498.43, or 5.81 per cent at 9,081.43.