Debenhams, Next see gains

| January 6, 2009 | 0 Comments
Debenhams, Next see gains

Europe’s equities markets were higher Tuesday, with some of the biggest gains in London as the FTSE 100 added 1.29 percent to 4,638.92 and the FTSE 250 gained 1.98 percent to 6,879.01.

The retail sector saw gains despite falling sales as Debenhams (LSE: DEB) added 20.18 percent for the session’s best performance on the 250, while Next (LSE: NXT) was up 12.47 percent and Marks & Spencer (LSE: MKS) gained 3.8 percent, with gains coming despite a report that consumer sentiment is at its lowest since 2004.

The FTSE Eurofirst 300 added 1.9 percent to 889.57 while the IBEX was up 0.83 percent to 9,724, the Dax was 0.85 percent higher to 5,026.31 and the CAC-40 gained 1.08 percent to 3,396.22.

Most markets in the Asia-Pacific region were also higher.

In Tokyo, the Nikkei 225 added 0.42 percent to 9,080.84 while the Topix index gained 0.03 percent to 876.2 and the Mothers market jumped 4.05 percent to 343.88.

India’s Sensex added 0.58 percent to 10,335.93 and the Taiex was up 0.62 percent to 4,727.26 while in Australia the Sydney Ordinaries gained 1.38 percent to 3,689.2 and the S&P/ASX200 was 1.51 percent higher to 3,742.7.

South Korea’s Kospi added 1.76 percent to 1,194.28 while the Shanghai Composite gained 3 percent to 1,937.14.

Among decliners on the session, the Hang Seng was down 0.35 percent to 15,509.51 and the Straits Times Index dropped 0.58 percent to 1,913.66.

In early afternoon trade in New York, the Dow Jones Industrial Average was up 0.28 percent to 8,978.06 while the Nasdaq Composite had added 1.25 percent to 1,648.35 and the S&P 500 had gained 0.44 percent to 931,54.

Crude oil prices were mixed, with Brent crude higher at last report while WTI turned slightly lower at the close in New York.

Precious metals prices were up in New York while grains prices rose in Chicago.

The euro continued to weaken against the dollar, the pound and the yen.

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