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A Look At Global Economic Developments

The Associated Press

A look at economic developments and activity in major stock markets around the world Tuesday:


LONDON â¿¿ Stock markets were mixed. The FTSE 100 index of leading British shares closed down just less than a point at 5,396.48 while France's CAC-40 fell 0.1 percent and Germany's DAX ended 0.3 percent higher.

Earlier in Asia, Japan's benchmark Nikkei 225 stock average jumped 1.3 percent, South Korea's Kospi rose 0.5 percent, Australia's S&P/ASX 200 added 0.7 percent and Hong Kong's Hang Seng advanced 0.2 percent.

China's Shanghai Composite Index ended 1.7 percent lower.


BERLIN â¿¿ Exports of German cars rose again in July as global markets recovered, though the growth rate was less spectacular than in previous months, an industry group said.


LONDON â¿¿ The new company holding the risky assets of nationalized British mortgage lender Northern Rock said it earned a net profit of 359 million pounds ($571 million) in the first half of the year, following a corporate restructuring on Jan. 1.


BERLIN â¿¿ German mail and logistics company Deutsche Post AG said Tuesday that a recovery in the world economy and global trade helped push up second-quarter earnings by 23 percent, with unit DHL leading the way.


MADRID â¿¿ Spain says the number of people filing for unemployment benefits dropped by nearly 74,000 in July as seasonal tourism jobs helped ease the country's employment crisis.


BEIJING â¿¿ Ford Motor Co. reports China lower sales for July versus last year, the first major automaker to suffer a decline as rapid Chinese market growth eases.


SEOUL, South Korea â¿¿ South Korea's foreign currency reserves rise to record high in July, enlarging the country's buffer against economic turmoil following a sharp decrease during the global financial crisis.
Copyright 2010 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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