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Eurasian Natural Resources leads miners higher

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by Elaine Frei
Eurasian Natural Resources leads miners higher

European equities markets were higher Thursday on new data showing that the gross domestic product in both Germany and France were up in the second quarter, but gains were limited after figures from the United States showed that retail sales there were down in July and new jobless claims were up slightly.

The FTSE 100 was up 0.82 percent to 4,755.46 in London, while the FTSE 250 added 1.58 percent to 8,483.66.

The mining sector was higher on higher metals prices, led by Eurasian Natural Resources (LSE: ENRC), which added 5.96 percent on the session.

The FTSE Eurofirst 300 was up 0.71 percent to 948.72 while the CAC-40 added 0.49 percent to 3,524.39, the Dax was 0.95 percent higher to 5,401.11 and the IBEX gained 1.03 percent to 11,046.8.

Most markets in the Asia-Pacific region were up on the session.

The Nikkei 225 added 0.79 percent to 10,517.19 in Tokyo, while the Topix index was up 0.89 percent to 968.41 and the Mothers market gained 0.12 percent to 470.24.

The Shanghai composite added 0.89 percent to 3,140.56 while the Straits Times Index was up 1.67 percent to 2,614.18, the Taiex gained 1.97 percent to 7,034.96 and the Hang Seng was 2.08 percent higher to 20,861.3.

The Sydney Ordinaries added 2.09 percent to 4,436.7 in Australia and the S&P/ASX200 was 2.14 percent higher to 4,435.9, while in India the Sensex gained 3.32 percent to 15,518.49.

On the other hand, the Kospi was down 0.05 percent to 1,564.64 in South Korea.

Despite bad news from the retail sector and the small uptick in first-time unemployment claims last week, the Dow Jones Industrial Average was up 0.42 percent to 9,401.06 in early afternoon trade in New York, while the Nasdaq Composite and the S&P 500 each had added 0.65 percent, to 2,011.77 and 1,012.38 respectively.

Crude oil and metals prices were higher on the session, but grains prices fell in afternoon trade in Chicago.

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News posted: August 13, 2009

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