Balfour Beatty leads as 100 gains

| August 12, 2009 | 0 Comments
Balfour Beatty leads as 100 gains

European equities markets were higher Wednesday as utilities shares were higher and most banks were higher.

The FTSE 100 added 0.97 percent to 4,716.76 in London, while the FTSE 250 was up 0.59 percent to 8,351.93.

Construction and engineering group Balfour Beatty (LSE: BBY) led the 100 with a gain of 8.26 percent, while over on the 250, Emerald Energy (LSE: EEN) led the index and a mostly higher energy sector as it added 9.33 percent.

The FTSE Eurofirst 300 was down 1.05 percent to 941.97 while the IBEX fell 0.94 percent to 10,933.8, the Dax was 1.22 percent lower to 5,350.09 and the CAC-40 dropped 1.48 percent to 3,507.24.

Most markets in the Asia-Pacific region were lower.

In Tokyo the Nikkei 225 was down 1.42 percent to 10,435 and the Topix index dropped 1.4 percent to 959.87, but the Mothers market managed a bare 0.1 percent gain to 469.68.

Other decliners in the region included the Taiex, which fell 0.15 percent to 6,898.9 while the Sensex was down 0.36 percent to 15,020.16, the Kospi was 0.88 percent lower to 1,565.35, the Straits Times Index dropped 1 percent to 2,571.31, the Hang Seng fell 3.03 percent to 20,435.24 and the Shanghai Composite was down 4.66 percent to 3,112.72.

In Australia, on the other hand, the S&P/ASX200 added 0.26 percent to 4,343.1 while the Sydney Ordinaries gained 0.27 percent to 4,345.9.

In early afternoon trade in New York, the Dow Jones Industrial Average was 1.58 percent higher to 9,387.08 while the Nasdaq Composite had added 1.8 percent to 2005.13 and the S&P 500 was up 1.48 percent to 1,009.08, but trade was light ahead of the Fed’s decision on interest rates.

Crude oil prices were up but precious metals and grains prices were mixed during the day.

The US dollar declined ahead of the Federal Reserve’s decision on interest rates.

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