|    FM Home   |    FM News   |    FM Forum   |    FM Blog   |   
30th of December 2010
|    Banking  |   Insurance  |   Property  |   Mortgages  |   Economy  |   Investments  |   Credit Cards  |   Debt  |   Loans  |   Pensions  |   Companies  |  
November 16, 2009    

Lonmin leads miners higher in London

Bookmark and Share

by Elaine Frei
Lonmin leads miners higher in London

European equities markets were higher Monday as the FTSE Eurofirst 300, which charts shares from the biggest companies throughout Europe, hit a 13-month closing high as it added 1.41 percent to 1,033.75.

The FTSE 100 was up 1.63 percent to 5,382.67 in London, while the FTSE 250 gained 1.6 percent to 9,523.27.

The five biggest winners on the 100 all came from the mining sector, led by Lonmin (LSE: LMI), which had the biggest gain in London as it added 9.3 percent, followed by Xstrata (LSE: XTA) with a gain of 7.79 percent as all in the sector were up on the session as metals prices rose.

Insurers did not do as well, as RSA Insurance Group (LSE: RSA) dropped 0.98 percent for the worst performance on the 100 and automobile insurer Admiral Group (LSE: ADM) fell 0.39 percent.

The real estate sector was mixed as residential property landlord Grainger (LSE: GRI) led losses in the sector with a decline of 2l38 percent, while St. Modwen Properties was the top gainer in the sector as it added 5.83 percent.

Money broker Tullett Prebon (LSE: TLPR) turned in the worst performance in London and was down 4.35 percent on the 250, while the best performer on the 250 was newspaper and magazine publisher Trinity Mirror (LSE: TNI) with a gain of 6.75 percent.

Most markets in the Asia-Pacific region were higher Monday, but Tokyo’s results were mixed as the Nikkei added 0.21 percent to 9,791.18 but the Topix index dropped 0.74 percent to 860.42 and the Mothers market was down 1.64 percent to 384.32.

Banks declined on multiple reports that Mitsubishi UFJ (TYO: 8306) will have to offer $11 billion in new shares in order to raise the cash to meet new requirements of bank capitalization.

Mitsubishi was down 5.5 percent while Mizuho Financial Group (TYO: 8411) fell 3.9 percent and Sumitomo Mitsui Financial Group (TYO: 8316) dropped 5.9 percent on the news.

Tokyo’s retail sector saw gains as department store operator Marui Group (TYO: 8252) added 6.9 percent on a broker upgrade while Fast Retailing (TYO: 9983) was up 5.2 percent on the session.

In Australia, the S&P/ASX200 was 1.04 percent higher to 4,755.2 while the Sydney Ordinaries gained 1.08 percent to 4,773.8.

Elsewhere in the region, the Sensex was up 1.09 percent to 17,032.51 while the Kospi added 1.3 percent to 1,592.47, the Taiex was 1.66 percent higher to 7,792.68, the Hang Seng gained 1.73 gained 1.73 percent to 22,943.98, the Straits Times Index was up 2.08 percent to 2,783.85 and the Shanghai Composite added 2.74 percent to 3,275.05.

Midday trade in New York found the Dow Jones Industrial Average up 1.2 percent to 10,393.28 while the Nasdaq Composite had added 1.33 percent to 2,196.74 and the S&P 500 was 1.46 percent higher to 1,109.48.

Prices for both metals and crude oil were higher at midday in New York.

Discuss this in the Finance Markets forums

Story link: Lonmin leads miners higher in London

Financial Services:

Related financial stories to: Lonmin leads miners higher in London:
Previous: «
Next: »

Visited 1274 times, 1 so far today

No Comments »

No comments yet.

RSS feed for comments on this post.

Leave a comment

Tags: , , , ,