Lloyds Banking Group down as 100 gains

| October 12, 2009 | 0 Comments
Lloyds Banking Group down as 100 gains

Equities markets in Europe were higher to start the week Monday.

The FTSE 100 was up 0.94 percent to 5,210.17 in London, it’s highest close in at least a year, while the FTSE 250 added 0.88 percent to 9,460.09 as insurers were up but banks were mixed and utilities and the travel and leisure sector saw declines.

Lloyds Banking Group (LSE: LLOY) led decliners on the 100 as it fell 2.54 percent, while Barclays Bank (LSE: BARC) was down 1.15 percent and Royal Bank of Scotland (LSE: RBS) dropped 0.5 percent on reports that the banks were planning various moves to raise money, including a rights issue for Lloyds.

Electricity and gas utility National Grid (LSE: NG) was 1.5 percent lower while gas utility Centrica (LSE: CAN) fell 1.35 percent in a mostly lower sector.

Pubs operator Punch Taverns (LSE: PUB) was the biggest loser in a mostly lower travel and leisure sector and turned in the worst performance on the 250 as it dropped 4.88 percent, while car rentals group Avis Europe (LSE: AVE) was down 2.71 percent, gambler Ladbrokes (LSE: LAD) was 2.29 percent lower and Thomas Cook Group (LSE: TCG) fell 2.06 percent on the 100.

Insurer Old Mutual (LSE: OML) hit a sixteen month high and was the best performer on the 100 as it added 4.56 percent.

The FTSE Eurofirst 300 was up 0.69 percent to 1,005.04 while the IBEX added 0.05 percent to 11,748.8, the CAC-40 was 1.22 percent higher to 3,845.8 and the Dax gained 1.25 percent to 5,783.23.

There were only 4 losers on the CAC-40 and just three decliners on the Dax, including drops in the utilities sector.

Asian markets were mixed on the session, with more seeing declines than advances.

The Taiex added 0.37 percent to 7,599.88 in Taiwan and the Straits Times Index was up 1.05 percent to 2,680.47 while the Sensex gained 2.31 percent after India’s industrial production expanded the most in nearly two years.

In Australia, the Sydney Ordinaries fell 0.19 percent to 4,745.5 and the S&P/ASX200 was down 0.28 percent to 4,739.8 on declines in the financial sector there after National Bank of Australia (ASX: NAB) received a downgrade to “under perform” from Bank of America Merrill Lynch.

The Kospi was down 0.42 percent to 1,639.81 in South Korea after oil refiners there were lower, while the Shanghai Composite was 0.59 percent lower to 2,894.48 after China’s largest steel maker, Baoshan Iron & Steel (SSE: 6000019) was reported ready to cut prices in November.

The Hang Seng was 0.93 percent lower to 21,299.35, while Tokyo markets were closed in observance of Health and Sports Day.

New York markets were higher in midday trade as the Dow Jones Industrial Average added 0.39 percent to 9,903.33 at just past 12:30 p.m. local time, while the Nasdaq Composite was up 0.35 percent to 2,146.86 and the S&P 500 gained 0.57 percent to 1,077.61.

Prices for crude oil and metals were higher in New York trade.

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