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Miners, led by Vedanta, Hochschild, gain

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by Elaine Frei
Miners, led by Vedanta, Hochschild, gain

European equities markets were higher Wednesday as miners and most banks saw advances.

In London, the FTSE 100 was 2.15 percent higher to 4,340.71 and the FTSE 250 added 1.24 percent to 7,506.71.

Vedanta Resources (LSE: VED) was 9.86 percent higher to lead the 100 while gold and silver miner Hochschild (LSE: HOC) was the top gainer on the 250, where it added 10.09 percent, but not all sector constituents saw gains as Aquarius Platinum (LSE: AQP) dropped 2.69 percent.

The FTSE Eurofirst 300 was up 1.65 percent to 864.24 while the IBEX added 1.18 percent to 9,903.7, the Dax was 2.01 percent higher to 4.905.44 and the CAC-40 gained 2.44 percent to 3,217.

Most markets in the Asia-Pacific region were higher, but the main indices in Tokyo were lower as the Nikkei 225 was down 0.19 percent to 9,939.93 and the Topix index fell 0.16 percent to 928.3 but the Mothers market of small and mid-caps added 0.71 percent to 445.18.

The other major market seeing declines in the region was Australia, where the Sydney Ordinaries fell 1.91 percent to 3,872.3 and the S&P/ASX200 was down 2.05 percent to 3,874.

Other markets in the region saw advances, including an 0.83 percent gain for the Straits Times Index to 2,352.55 while the Sensex added 1.05 percent to 14,645.47, the Kospi was up 1.55 percent to 1,411.66, the Shanghai Composite was 1.65 percent higher to 3,008.15 and the Taiex gained 2.28 percent to 6,478.97.

The Hang Seng was closed for the session in observance of a public holiday in Hong Kong.

New York markets were up in early afternoon trade, with the Dow Jones Industrial Average up 1.13 percent to 8,542.6 at just past 1 p.m. in New York while at the same time the Nasdaq Composite was 1.1 percent higher to 1,855.3 and the S&P 500 had gained 0.95 percent to 433.75.

Crude oil prices were volatile on the session, gaining in the morning but heading down in afternoon trade, while metals prices were higher and grains prices were mixed.

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News posted: July 1, 2009

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