Ferrexpo leads mixed London mining sector

| September 17, 2009 | 0 Comments
Ferrexpo leads mixed London mining sector

European equities markets were up again Thursday as hopes continued that the global economy is making its way out of recession.

The FTSE 100 added 0.77 percent to 5,163.78 in London, while the FTSE 250 was up 0.63 percent to 9,363.54.

Most in the mining sector were higher, led by iron ore miner Ferrexpo (LSE: FXPO) with a gain of 7.18 percent, but the sector also produced the two worst performers on the 100 as Lonmin (LSE: LMI) fell 2.62 percent and Eurasian Natural Resources (LSE: ENRC) dropped 2.35 percent.

The FTSE Eurofirst 300 was up 0.48 percent to 1,010.94 while the IBEX added 0.21 percent to 11,771, the CAC-40 was 0.54 percent higher to 3,834.47 and the Dax gained 0.58 percent to 5,733.19.

Asia-Pacific region equities markets were mostly higher on the session.

The Nikkei 225 was up 1.68 percent to 10,443.8 in Tokyo, while the Topix index added 0.87 percent but the Mothers market dropped 1.4 percent to 457.45.

The Sensex was up 0.2 percent to 16,711.11 while the Taiex added 0.5 percent to 7,477.3 and the Kospi was 0.72 percent higher to 1,695.47.

In Australia, the Sydney Ordinaries gained 1.32 percent to 4,714 and the S&P/ASX200 was up 1.39 percent to 4,714.9, while the Hang Seng was 1.71 percent higher to 21,768.51 in Hong Kong and the Shanghai Composite added 2.02 percent to 3,060.26.

The Straits Times Index was down 0.07 percent to 2,672.6.

New York markets drifted lower even though new data supported the idea that the US economy is beginning to emerge from the recession.

At nearly 12:30 p.m. in New York, the Dow Jones Industrial Average was down 0.1 percent to 9,781.88 while the Nasdaq Composite was 0.35 percent lower to 2,125.63 and the S&P 500 had fallen 0.31 percent to 1,065.49.

Crude oil and precious metals prices were lower on the session, but base metals and grains were mixed.

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