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Retailer Debenhams gains on positive report

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by Elaine Frei
Retailer Debenhams gains on positive report

The majority of European equities markets were lower Thursday.

In London, the FTSE 100 was 0.31 percent lower to 4,018.23 although the FTSE 250 managed to gain 0.3 percent to 7,181.53 on the session.

The retail sector saw gains after Debenhams (LSE: DEB) led the 250 and the sector with a gain of 21.65 percent after it reported that both its pre-tax profits and sales were better than expected in its fiscal first half, while over on the 100 clothing retailer Next (LSE: NXT) added 6.55 percent.

The FTSE Eurofirst 300 was down 0.47 percent to 791.49 while the CAC-40 fell 0.55 percent to 3,008.62, the IBEX was 0.73 percent lower to 8,769.2 and the Dax dropped 1.22 percent to 4,538.21.

Most markets in the Asia-Pacific region were higher, although Taiwan’s Taiex was 0.18 percent lower to 5,875.24 on the session.

In Tokyo, the Nikkei 225 was up 1.37 percent to 8,847.01 while the Topix index added 1.15 percent to 839.5 and the Mothers market gained 5.27 percent to 338.8.

Elsewhere in the region, the Shanghai Composite added 0.11 percent to 2,463.95 while the Straits Times Index was up 0.9 percent to 1,859.98, and the Kopsi was 0.94 percent higher to 1,368.8.

In Australia, the Sydney Ordinaries gained 1.89 percent to 3,695.8 and the S&P/ASX200 was up 2.04 percent to 3,743, while the Hang Seng was 2.26 percent higher to 15,214.46 in Hong Kong and India’s Sensex added 2.93 percent to 11,134.99.

New York equities markets were lower on bad news, with the Dow Jones Industrial Average falling 0.31 percent to 7,862.36 in early afternoon trade while the Nasdaq Composite was down 0.49 percent to 1,638.04 and the S&P 500 had dropped 0.3 percent to 841.

Crude oil prices were up slightly in New York, as were precious metals prices, but copper saw declines and grains prices were mixed.

The US dollar and the yen declined in relation to the euro.

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News posted: April 23, 2009

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