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Friday 05th of December 2008
July 31, 2008

HBOS gains over 5 percent on session


by Elaine Frei
HBOS gains over 5 percent on session

European equities markets were mixed Thursday after new US data showed that the economy grew more slowly than expected in the second quarter and the highest number of new unemployment claims were filed last week in over five years.

In London, the FTSE 100 dropped 0.16 percent to 5,411.9 while the FTSE 250 was down 0.33 percent to 8,856.7 in volatile trade.

Mortgage lender HBOS (LSE: HBOS) was up 5.16 percent even though it reported a decline in profits of 56 percent in the first half of the year.

In the rest of Europe, the FTSE Eurofirst 300 was up 0.05 percent to 1,180.12 while the Dax was 0.3 percent higher to 6,479.56 and the IBEX gained 0.54 percent to 11,881.3, but the CAC-40 dropped 0.19 percent to 4,392.36.

Most equities markets in the Asia-Pacific region saw gains.

Tokyo markets were mixed, with the Nikkei 225 adding 0.07 percent to 13,376.81 and the Topix gaining 0.05 percent to 1,303.62 while the Mothers market of small and mid-caps dropped 2.14 percent to 510.06.

Even though the Nikkei gained on the day, it ended the month 0.8 percent lower.

The Straits Times Index was up 0.14 percent to 2,929.65, while the Hang Seng added 0.18 percent to 22,731.1 and the Sensex gained 0.48 percent to 14,355.75 while in Australia, the S&P/ASX200 was 0.82 percent higher to 4,977.4 and the Sydney Ordinaries added 0.88 percent to 5,052.6, while in South Korea the Kospi was up 1.08 percent to 1,594.67.

Decliners included Taiwan’s Taiex, which dropped 0.65 percent to 7,024.06 and the Shanghai Composite, with a decline of 2.15 percent to 2,775.72.

Wall Street was mixed in midday trade, with the Dow Jones Industrial Average down 1.28 percent to 11,435.83 and the S&P 500 falling 0.94 percent to 1,272.25, but the Nasdaq Composite had added 0.03 percent to 2,330.38.

Crude oil prices were lower on worries about the US economy, while most metals prices saw gains.

The dollar was weaker versus the euro, pound and yen, also hurt by economic concerns.

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