Lloyds leads banks ahead of results

European equities markets were mixed Wednesday.

In London, the FTSE 100 added 0.52 percent to 5,342.92 but the FTSE 250 was down 0.31 percent to 9,359.18.

The gains for the 100 came as most banks advanced after US Federal Reserve Chairman Ben Bernanke said that US interest rates will remain low for the time being.

Lloyds Banking Group (LSE: LLOY) led the sector with a gain of 3.4 percent ahead of its results, due Friday, but Barclays Bank (LSE: BARC) dropped 0.56 percent as it traded ex-dividend.

Miners were mixed as some in the sector were hurt by the possibility that China, a top metals consumer, could cut lending by banks there as a way of keeping its economy under control.

Iron ore miner Ferrexpo led gains in the sector as it added 5.44 percent on the 250 for the best performance of the London session, while the biggest sector decline came from Gem Diamonds (LSE: GEMD), which dropped 2.15 percent.

Homebuilders were lower, led by Barratt Developments (LSE: BDEV) with a decline of 5.75 percent on the 250, the worst performance of the session in London, while Persimmon (LSE: PSN) was down 4.03 percent and Taylor Wimpey (LSE: TW) was 3.06 percent lower.

The best performance on the 100 came from cruise ship operator Carnival (LSE: CCL) with a gain of 3.54 percent, while building materials group Wolseley (LSE: WOS) dropped 3.13 percent to lead declines on that index.

The FTSE Eurofirst 300 was sup 0.18 percent to 1,013.46 while the Dax added 0.2 percent to 5,615.51 and the CAC-40 was 0.23 percent higher to 3,715.68 but the IBEX was down 0.57 percent to 10,254.

Most markets in the Asia-Pacific region were lower after the Conference Board’s report on US consumer confidence showed it at its lowest in 10 months in February.

In Tokyo, the Nikkei 225 was down 1.48 percent to 10,198.83 and the Topix index fell 1.29 percent to 895.69, although the Mothers market managed to add 0.68 percent to 403.32 on the session.

Exporters were lower on a stronger yen, with chip-related shares joining in the declines as Advantest (TYO: 6857) dropped 2.4 percent and Tokyo Electron (TYO: 8035) fell 2.9 percent.

Toyota (TYO: 7203) was down 1.5 percent on concerns about the effect of US hearings on its recent safety issues, not only the carmaker itself but on related shares as well.

Elsewhere in the region, the Sensex fell 0.19 percent to 16,255.97 while the Straits Times Index was down 0.73 percent to 2,762.14, the Hang Seng was 0.75 percent lower to 20,467.74, the Taiex dropped 0.89 percent to 7,579.67 and the Kospi was down 0.99 percent to 1,612.83.

Australia’s markets were also lower as the Sydney Ordinaries dropped 1.38 percent to 4,665.9 and the S&P/ASX200 fell 1.48 percent to 4,648.5.

The Shanghai Composite defied trends and added 1.33 percent to 3,022.18.

New York markets were higher in early afternoon trade, helped by Fed Chairman Ben Bernanke’s comments on interest rates in testimony before a Congressional committee, but gains were limited by the news that sales of single-family homes is down in the United States.

At just past 1 p.m. local time in New York, the Dow Jones Industrial Average was up 0.81 percent to 10,365.85 while at the same time the S&P 500 had added 0.8 percent to 1,103.37 and the Nasdaq Composite was 1.03 percent higher to 2,236.16.

The price of crude oil and copper prices were up in early afternoon trade in New York, but precious metals prices were lower.

Tags: Asia-Pacific markets, commodities, European markets, London markets, Wall Street