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Monday 19th of April 2010
April 14, 2010    

Publisher Yell Group adds 8 percent to lead London markets

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by Elaine Frei
Publisher Yell Group adds 8 percent to lead London markets

Equities markets were higher in Europe on Wednesday.

The FTSE 100 added 0.6 percent to 5,796.25 in London, while the FTSE 250 gained 0.74 percent to 10,495.64.

Directories publisher Yell Group (LSE: YELL) was the biggest gainer in London, adding 8.22 percent to lead a mostly higher media sector and the 250, while telecommunications provider BT Group (LSE: BT.A) led gains on the 100 as it gained 4.37 percent.

The best performance in the telecoms sector came from Cable & Wireless Communications (LSE: CWC) with an advance of 4.57 percent on the 250, while the only decline in the sector came from TalkTalk Telecom Group (LSE: TALK) as it dropped 2.3 percent.

The biggest decliner in London was Domino’s Pizza UK & IRL (LSE: DOM), which turned in the worst performance in the travel and leisure sector as it fell 4.75 percent.

Airlines were the best performers among travel and leisure companies as easyJet (LSE: EZJ) added 2.54 percent and British Airways (LSE: BAY) gained 1.46 percent.

Legal & General Group (LSE: LGEN) was the worst performer on the 100 and in the insurance sector, falling 1.93 percent, while the best performance in the mixed sector came from Old Mutual (LSE: OML), which was 1.58 percent higher.

Legal & General traded ex-dividend, as did plastics group Filtrona PLC (LSE: FLTR) and environmental consultancy RPS Group (LSE: RPS), dropping 3.54 percent and 2.35 percent respectively, both on the 250.

The FTSE Eurofirst 300 was up 0.67 percent to 1,105.94 while the IBEX added 0.37 percent to 11,503.7, the CAC-40 was 0.64 percent higher to 4,057.7 and the Dax gained 0.76 percent to 6,278.4.

Miners gained on better prices for metals, led by Eurasian Natural Resources (LSE: ENRC), which was up 4.01 percent.

Most banks also saw gains, led by Barclays Bank (LSE: BARC), which added 2.89 percent, but HSBC Holdings (LSE: HSBA) dropped 0.45 percent on the session.

Mortgage lender Paragon Group of Companies (LSE: PAG) added 6.52 percent.

Asia-Pacific region markets were higher on the session.

The Nikkei 225 added 0.39 percent to 11,204.9 in Tokyo, while the Topix index was up 0.27 percent to 991.1 and the Mothers market gained 1.71 percent to 490.43.

Businesses related to the semiconductors sector were helped by news from US chipmaker Intel (NAS: INTC) which reported that revenues were up 44 percent in the first quarter and said that it expects to hire 1,000 more employees globally this year.

Shin-Etsu Chemical (TYO: 4063) was up 1.1 percent while chip-testing equipment maker Advantest (TYO: 6857) added 1.4 percent and Tokyo Electron (TYO: 8035) gained 3.6 percent after it said that orders for its chip-making equipment from Intel were up.

In the telecommunications sector, KDDI (TYO: 9433) declined 1.1 percent after UBS cut its recommendation on the cell phone services provider from “buy” to “neutral” and reduced its target share price.

Elsewhere in the region, the Hang Seng added 0.08 percent to 22,121.43 while the Shanghai Composite was up 0.16 percent to 3,166.18 and the Taiex gained 0.84 percent to 8,097.13.

In Australia, the Sydney Ordinaries added 0.79 percent to 5,017.9 while the S&P/ASX200 was 0.87 percent higher to 4,994.7

South Korea’s Kospi was up 1.45 percent to 1,735.33 after Moody’s Investors Service raised that nation’s credit rating from A2 to A1, its best rating ever, while the Straits Times Index gained 1.62 percent to 3,019.74.

Wall Street traded higher at midday, helped by positive results from Intel (NAS: INTC) and JPMorgan Chase (NYSE: JPM) and by a Commerce Department report that showed US retail sales up 1.6 percent in March, more of a gain than had been anticipated.

The Dow Jones Industrial Average was up 0.56 percent to 11,080.94 in midday trade, while the S&P 500 had added 0.73 percent to 1,206.07 and the Nasdaq Composite was 1.15 percent higher to 2,494.31.

The price of crude oil rose significantly, with West Texas Intermediate trading above $86 per barrel again, while metals prices were also higher on the session so far.

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