A look at economic developments around the globe

AP News
|
Posted: Mar 23, 2012 5:13 PM

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

___

ATHENS, Greece _ Greece's finance ministry extended the deadline for holders of Greek bonds issued under foreign law or by state enterprises to swap them with new securities worth less than half their original value.

___

MADRID _ Concerns over Spain's economy and fears that it might eventually be heading for a bailout pushed the country's borrowing costs in the world's financial markets higher on Friday.

___

LONDON _ Stock markets recouped some ground despite concerns of a global economic slowdown.

In Europe, the FTSE 100 index of leading British shares closed up 0.2 percent while Germany's DAX rose by the same amount. The CAC-40 in France ended 0.1 percent higher.

___

TOKYO _ In Asia, Japan's Nikkei 225 index dropped 1.1 percent as the country's export sector faded amid slowing overseas demand.

Elsewhere, Hong Kong's Hang Seng lost 1.1 percent, while South Korea's Kospi edged up marginally.

Australia's S&P/ASX 200 fell 0.1 percent as the country's mining and resource shares took a pounding over worries of reduced demand from China, the world's biggest consumer of raw materials.

___

SINGAPORE _ Singapore says it expects tourist arrivals to grow by only 2.3 percent this year compared to 13 percent in 2011.

___

BANGKOK _ Canada's Prime Minister Stephen Harper says his country will hold exploratory talks with Thailand on a free-trade agreement.

___