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July 28, 2009    

Retailers Next, Marks & Spencer see gains

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by Elaine Frei
Retailers Next, Marks & Spencer see gains

European equities markets were lower Tuesday, hurt by new data showing that consumer confidence in the United States fell in July as the Conference Board said it’s confidence index was at 46.6 in July, down from 49.3 in June.

The FTSE 100 was down 1.25 percent to 4,528.84 in London, while the FTSE 250 dropped 1.85 percent to 7,731.16.

Most retailers were also lower, but Marks & Spencer (LSE: MKS) added 1.52 percent and Next (LSE: NXT) was up 1.75 percent.

The FTSE Eurofirst 300 was 0.96 percent lower to 902.85 while the CAC-40 was down 1.23 percent to 3,330.97 and the Dax dropped 1.46 percent to 5,174.74, but the IBEX added 0.68 percent to 10,664.

Most Asia-Pacific region markets, on the other hand, were higher on the session, although in Tokyo the Nikkei 225 was down 0.01 percent to 10,087.26 and the Mothers market dropped 1.06 percent to 451.05 even as the Topix index added 0.2 percent to 930.13.

Elsewhere in the region the Shanghai Composite was up 0.09 percent to 3,438.37 while the Kospi added 0.13 percent to 1,526.03 and in Australia the Sydney Ordinaries gained 0.63 percent to 4,174 and the S&P/ASX200 was 0.72 percent higher to 4,169.5.

The Taiex added 1.62 percent to 7,142.63 while the Hang Seng and Straits Times Index each gained 1.84 percent, to 20,624.54 and 2,624.04 respectively.

In India, the Sensex dropped 0.28 percent to 15,331.94.

The decline in US consumer confidence hurt Wall Street, as did more negative quarterly reports.

At nearly 1:30 p.m. in New York, the Dow Jones Industrial Average was 0.59 percent lower to 9,055.15 while the Nasdaq Composite was down 0.26 percent to 1,962.72 and the S&P 500 had dropped 0.75 percent to 974.8.

Crude oil prices were lower ahead of tomorrow’s weekly US oil inventories report, while metals prices were mixed in London and lower in New York.

Grains price were mixed in afternoon trade in Chicago.

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