HMV Group leads retailers lower

| January 14, 2010 | 0 Comments
HMV Group leads retailers lower

Most equities markets in Europe were higher Thursday.

The FTSE 100 added 0.45 percent to 5,498.2 in London, but the FTSE was down 0.02 percent to 9,568.03.

Retailers had a hard time of it as most saw declines on the session, led by music retailer HMV Group (LSE: HMV) fell 8.01 percent on the 250 for the worst performance in the sector while over on the 100 Home Retail Group was down 6.24 percent for the biggest decline on that index.

Premier Foods (LSE: PFD) fell the most in London with a drop of 10.38 percent.

Industrial belting manufacturer Fenner (LSE: FENR) was the biggest gainer in London as it added 6.38 percent.

In a mixed mining sector, Xstrata (LSE: XTA) was the best performer on the 100 with a gain of 4.01 percent while Antofagasta (LSE: ANTO) was up 3.1 percent, also on the 100, and Aquarius Platinum (LSE: AQP) added 3.35 percent on the 250.

Lloyds Banking Group (LSE: LLOY) led a mostly higher banking sector as it gained 2.68 percent.

The FTSE Eurofirst 300 was up 0.66 percent to 1,063.42 while the IBEX added 0.35 percent to 11,999.8, the CAC-40 was 0.37 percent higher to 4,015.77 and the Dax gained 0.43 percent to 5,988.88.

Most markets in the Asia-Pacific region were up on the session, but Hong Kong’s Hang Seng dropped 0.15 percent to 21,716.95.

The Nikkei 225 added 1.61 percent to 10,907.68 in Tokyo, while the Topix index was up 1.59 percent to 959.01 and the Mothers market gained 0.89 percent to 414.49.

New data showed that while machinery orders in Japan were down by 11.3 percent in November over October, December machine-tool orders were 62.8 percent higher in December over the same month a year previously.

Shippers were higher after the Baltic Dry Index, which monitors cargo rates, was up for a third day in a row on Wednesday.

Mitsui OSK (TYO: 9104) added 7.2 percent after a media report that its pretax profits in the fourth quarter of 2009 could be much higher than in the year’s third quarter, while Kawasaki Kisen Kaisha (TYO: 9107) as up 7.4 percent and Nippon Yusen KK (TYO: 9101) gained 5.1 percent.

Elsewhere in the region, the Sensex added 0.43 percent to 17,584.87 while in Australia the Sydney Ordinaries gained 0.6 percent to 4,929.4 and the S&P/ASX200 was up 0.61 percent to 4,898.

The Straits Times Index was 0.73 percent higher to 2,909.52, the Kospi added 0.86 percent to 1,685.77, the Taiex was up 1.14 percent to 8,289.98 and the Shanghai Composite gained 1.35 percent to 3,215.55.

New York markets were up slightly just before 1 p.m. local time, with the Dow Jones Industrial Average up 0.18 percent to 10,699.51 while the Nasdaq Composite had added 0.26 percent to 2,313.9 and the S&P 500 was 0.14 percent higher to 1,147.53.

The gains came even though the Labor Department reported that new jobless claims were up by 11,000 last week against an expected gain of only 3,000, and despite a Commerce Department report that retail sales dropped 0.3 percent in December from November when a gain of 0.5 percent had been anticipated.

In early afternoon trade, crude oil prices were slightly lower in New York, while metals prices were mixed.

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