Gold miner Hochschild up on rising prices
by Elaine Frei
Most European equities markets were lower Thursday on sentiment that infusions of money into the financial system by several central banks will not be sufficient to turn around the credit crisis.
In London the FTSE 100 was down 0.66 percent to 4,880 but the FTSE 250 added 0.32 percent to 8,336.8.
Gold miner Hochschild (LSE: HOC) added 25.15 percent as the biggest winner on the 250, but software group Misys (LSE: MSY) dropped 15.36 percent for the worst day on that index, while the biggest loser on the 100 was insurer Old Mutual (LSE: OML; JSE: OLOML) with a decline of 15.54 percent.
The FTSE Eurofirst 300 was down 0.61 percent to 1,063.62 as the IBEX fell 0.28 percent to 10,631.6 and the CAC-40 dropped 1.06 percent to 3,957.86 but the Dax added 0.04 percent to 5,863.42.
Most equities markets in the Asia-Pacific region were lower on the session as well, but some came back from bigger declines on the news of cash infusions into the system by the US Federal Reserve and other central banks.
In Tokyo the Nikkei 225 was down 2.22 percent to 11,489.3 and the Topix index fell 2.12 percent to 1,097.68 but the Mothers market of small and mid-caps added 0.05 percent to 440.26.
In Australia, the S&P/ASX200 was down 2.43 percent to 4,607 and the Sydney Ordinaries dropped 2.47 percent to 4,651.9 on big declines in the financial sector.
Elsewhere in the region, the Straits Times Index was down a fraction to 2,419.21 while the Hang Seng fell 0.03 percent to 17,632.46, the Shanghai Composite was 1.72 percent lower to 1,895.84, the Kospi was down 2.3 percent to 1,392.42 and the Taiex dropped 2.74 percent to 5,641.95.
On a day of volatile trade on Wall Street the Dow Jones Industrial Average was up 0.94 percent to 10,709.48 at just past 1:30 p.m. in New York while at the same time the Nasdaq Composite had added 0.82 percent to 2,115.99 and the S&P 500 had gained 1.06 percent to 1,168.61.
Crude oil prices saw slight gains, while metals prices were up and grains prices were lower.
The dollar weakened while some higher-yielding currencies benefited from a return to some interest in risky carry trades.
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