Eurasian, Anglo American lead miners, FTSE 100 higher

| September 12, 2008
Eurasian, Anglo American lead miners, FTSE 100 higher

Equities markets in Europe saw gains Friday as commodities-related shares advanced.

In London, the FTSE 100 added 1.85 percent to 5,416.7 while the FTSE 250 gained 1.15 percent to 8,976.7, with the 100 led by miners.

Gains in the prices of industrial metals sent Eurasian (LSE: ENRC) up 9.06 percent while Anglo American (LSE: AAL) was 8.4 percent higher, Rio Tinto (LSE: RIO) added 7.98 percent and BHP Billiton (LSE: BLT; NYSE: BHP; ASX: BHP) gained 7.4 percent.

The FTSE Eurofirst 300 added 1,161.06 while the Dax was 0.91 percent higher to 5,234.89, the CAC-40 was up 1.97 percent to 4,332.66 and Madrid’s IBEX gained 2.47 percent to 11,412.

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

In Tokyo, the Nikkei 225 was up 0.93 percent to 12,214.76 while the Topix index added 1.25 percent to 1,177.2 and the Mothers market gained 3.05 percent to 437.16.

Tokyo’s markets will be closed Monday in observation of Respect for the Aged Day.

Elsewhere in the region the Shanghai Composite added 0.03 percent to 2,079.67 while the Taiex was up 0.94 percent to 6,310.68 and the Straits Times Index gained 1.16 percent to 2,570.67.

The Sydney Ordinaries added 1.76 percent to 4,957.1 and the S&P/ASX200 was up 1.86 percent to 4,903.8 in Australia while South Korea’s Kospi gained 2.4 percent to 1,477.92.

The Hang Seng, was down 0.18 percent to 19,352.9 while India’s Sensex, which dropped 2.26 percent to 14,000.81.

At around 1 p.m. in New York, equities markets there were lower with the Dow Jones Industrial Average down 0.79 percent to 11,343.42 and the Nasdaq Composite fell 0.55 percent to 2,245.71 and the S&P 500 dropped 0.5 percent to 1,242.83.

Oil prices were up in New York but declined in London, while metals prices were higher.

Among grains, corn and soybeans saw gains but wheat prices were lower.

The US dollar and the yen weakened, with the yen hurt by a return to carry trades.

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