Defense tech group QuintiQ leads London markets
European equities markets saw gains Thursday after the US Commerce Department issued a preliminary estimate that the US gross domestic product was up at a 3.5 percent annual rate, in the third quarter, better than the 3.3 percent growth that had been expected and a significant sign that the US has probably emerged from the recession.
The FTSE 100 added 1.13 percent to 5,137.72 in London, while the FTSE 250 gained 1.28 percent to 8,962.41.
Defense technology company QuintiQ Group (LSE: QQ) added 15.75 percent to lead the 250 and London markets, while banks and miners led gainers on the 100.
Royal Bank of Scotland (LSE: RBS) was up 9.52 percent as it turned in the best performance on the 100, followed by Lloyds Banking Group with a gain of 2.7 percent.
Aquarius Platinum (LSE: AQP), listed on the 250, led the mining sector as it added 8.02 percent, while over on the 100, Xstrata (LSE: XTA) was up 7.37 percent, gold and silver miner Fresnillo (LSE: FRES) was 6.65 percent higher and Kazakhmys (LSE: KAZ) gained 6.56 percent.
Meanwhile, the only decliner in the London mining sector was Talvivaara Mining Company (LSE: TALV), which declined 1.53 percent on the session.
The energy sector was mostly higher, but Royal Dutch Shell’s B shares (LSE: RDSB) led decliners on the 100 as it fell 3.02 percent, followed by the oil company’s A shares (LSE: RDSA), which dropped 2.88 percent as RDS reported that its profits were down by 62 percent in the third quarter as prices fell and demand was weak.
Some house builders saw significant gains, as Taylor Wimpey (LSE: TW) added 8.96 percent and Barratt Developments (LSE: BDEV) gained 7.16 percent.
Elsewhere in Europe, the FTSE Eurofirst 300 was up 1.77 percent to 997.61 while the CAC-40 added 1.37 percent to 3,714.02, the Dax was 1.66 percent higher to 5,587.45 and the IBEX gained 2.22 percent to 11,683.4.
Asia-Pacific markets were lower on the session.
In Tokyo, the Nikkei 225 dropped 1.83 percent to 9,891.1 while the Topix index was down 0.74 percent to 882.26 and the Mothers market fell 1.05 percent to 433.1.
A stronger yen hurt exporters in Tokyo, while truck maker Hino Motors (TYO: 7205) was down 8.7 percent after it revealed losses in its fiscal first half.
In the wider region, shares related to oil and mining fell after crude oil and metals prices dropped Wednesday.
The Straits Times Index was down 0.63 percent to 2,632.31 while the Sensex fell 1.42 percent to 16,052.72, the Kospi was 1.48 percent lower to 1,585.85, the Hang Seng dropped 2.28 percent to 21,264.99, the Shanghai Composite fell 2.34 percent to 2,960.47, and the Taiex was 2.37 percent lower to 7,355.69.
In Australia, the S&P/ASX200 was down 2.36 percent to 4,574.7 while the Sydney Ordinaries dropped 2.39 percent to 4,575.2.
Banks in China were lower on plans by the China Banking Regulatory Commission to alter rules on personal loans to give loan money over 300,000 yuan ($43,937) directly to the party the borrower owes, rather than to the party borrowing the money.
Bank of China Ltd (SSE: 601988) was down 1.7 percent while Industrial & Commercial Bank of China Ltd. (SEHK: 1398) dropped 2.7 percent on the session.
The good news on the US GDP helped New York equities markets as the Dow Jones Industrial Average was up 1.63 percent to 9,922.07 by just before 1:30 p.m. in New York, while at the same time the Nasdaq Composite had added 1.61 percent to 2,092.68 and the S&P 500 was 1.85 percent higher to 1,061.95.
Oil and metals prices rebounded in New York in afternoon trade