Wolseley leads losers on 100

| March 6, 2009
Wolseley leads losers on 100

Most European equities markets were lower Friday on worries about unemployment in the United States, where the Labor Department reported that the unemployment rate hit 8.1 percent in February, its highest level in a quarter of a century.

London’s markets were mixed as the FTSE 100 added a slight 0.02 percent to 3,530.76 but was 7.8 percent lower on the week, while the FTSE 250 dropped 1.75 percent to 5,831.55 on the session.

Building materials group Wolseley (LSE: WOS) was the biggest loser on the 100 as it fell 15.11 percent on news that it needs to raise more cash.

The FTSE Eurofirst 300 was down 1.43 percent to 661.11 while the Dax fell 0.79 percent to 3,666.41, the IBEX was 1.27 percent lower to 6,936.9 and the CAC-40 dropped 1.37 percent to 2,534.45.

Markets were mixed in the Asia-Pacific region.

Tokyo’s markets were lower as the Nikkei 225 fell 3.5 percent to 7,173.1 on the day and was 5.2 percent lower this week, while the Topix index was down 2.72 percent to 721.39 and the Mothers market dropped 2.52 percent to 283.87.

Other decliners in the region included the Kospi, which was down 0.3 percent to 1,055.03 while the Straits Times Index fell 0.36 percent to 1,513.12 and the Shanghai Composite was 1.26 percent lower to 2,193.01.

In Australia the Sydney Ordinaries dropped 1.18 percent to 3.111.7 and the S&P/ASX200 was down 1.35 percent to 3,145.5 while the Hang Seng fell 2.37 percent to 11,921.52 in Hong Kong.

Gainers on the session included the Taiex, which added 0.35 percent to 2,193.01 while the Sensex gained 1.56 percent to 8,325.82.

Wall Street was lower in early afternoon trade, with the Dow Jones Industrial Average down 0.93 percent to 6,533.27 as the Nasdaq Composite fell 1,280.58 and the S&P 500 dropped 1.16 percent to 674.63.

Crude oil prices were mixed, while precious metals and grains prices were higher on the session.

The Australian dollar declined ahead of a report on unemployment there while the yen and the US dollar were also both weaker on US jobless statistics.

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