Randgold, Ferrexpo lead 100, 250

| January 13, 2009 | 0 Comments
Randgold, Ferrexpo lead 100, 250

European equities markets were lower again Tuesday, with banks and insurers among the biggest losers on the session.

The FTSE 100 was down 0.61 percent to 4,399.15 in London, while the FTSE 250 dropped 2.07 percent to 6,547.29 after more bad news from the housing sector as sales and house prices continued to decline.

Gold miner Randgold (LSE: RRS; NAS: GOLD) led winners on the 100 with a gain of 6.37 percent and iron-ore producer Ferrexpo (LSE: FXPO) had the best day on the 250 as it added 12.42 percent, but most miners saw declines, led lower by Aquarius Platinum (LSE: AQP; ASX: AQP; JSE: AQP), which fell 9.8 percent.

The FTSE Eurofirst 300 was down 1.51 percent to 840.36 while the CAC-40 fell 1.49 percent to 3,197.89, the IBEX was 1.55 percent lower to 9,057.3 and the Dax dropped 1.75 percent to 4,636.94.

Most Asia-Pacific equities markets were also lower on the session.

In Tokyo, the declines came on continuing concerns about corporate losses, on more bankruptcies in the real estate sector, and on a stronger yen that hurt exporters.

The Nikkei 225 was down 4.79 percent to 8,413.91 while the Topix index fell 4.78 percent to 814.12 and the Mothers market dropped 1.73 percent to 329.55.

Other decliners in the region included India’s Sensex, which fell another 0.42 percent on continuing fallout from the fraud admissions of computer services firm Satyam (Sensex: 500376; NYSE: SAY), while the Straits Times Index was down 0.81 percent to 1,761.82.

In Australia the S&P/ASX200 was 0.78 percent lower to 3,654.6 and the Sydney Ordinaries dropped 0.83 percent to 3,593.9, while the Shanghai Composite fell 1.95 percent to 1,863.37 and Hong Kong’s Hang Seng was down 2.17 percent to 13,668.05.

South Korea’s Kospi added 0.95 percent to 1,167.71 while the Taiex gained 1.76 percent to 4,532.36 in Taiwan.

At around 1:30 p.m. in New York the Dow Jones Industrial Average was 0.51 percent lower to 8,430.48 while the Nasdaq Composite had dropped 0.03 percent to 1,538.35 and the S&P 500 was down 0.26 percent to 867.99.

Crude oil prices were up early, but by less than 20 minutes before the close of floor trade in New York, West Texas Intermediate Crude was nearly 70 cents below Monday’s close, while precious metals were lower and copper was higher in electronic trade after the close of floor trade in New York.

The dollar saw gains on the euro after the Commerce Department reported that the US trade deficit dropped declined in November.

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