Rolls-Royce again leads declines on 100

| November 5, 2010 | 0 Comments
Rolls-Royce again leads declines on 100

European equities markets were mixed Friday, with gains coming for some after the US Labor Department reported that the US economy added 151,000 jobs last month.

The FTSE 100 was up 0.21 percent to 5,875.35 in London, while the FTSE 250 added 0.58 percent to 11,080.

Rolls Royce Group was the biggest decliner on the 100 for the second session in a row, falling 4.91 percent in the wake of the explosion of one of its airplane engines in mid-flight.

Vedanta Resources (LSE: VED) led gains by miners and was the best performer on the 100 as the sector was mostly up after miners at a copper mine in China went on strike.

Other miners seeing gains included Hochschild Mining (LSE: HOC), which added 4.5 percent while Eurasian Natural Resources (LSE: ENRC) was up 4.42 percent, Centamin Egypt (LSE: CEY) was 4.12 percent higher and Fresnillo (LSE: FRES) gained 3.37 percent.

There were only two decliners in the sector, with African Barrick Gold (LSE: ABG) down 1.52 percent while Randgold Resources (LSE: RRS) dropped 0.42 percent.

Over on the 250, directories publisher Yell Group (LSE: YELL) was the biggest gainer of the session, adding 6.14 percent, but its media sector was mixed with the biggest decline coming from broadcaster ITV (LSE: ITV), which fell 1.6 percent.

Business services group Rentokiil Initial (LSE: RTO) turned in the worst performance on the 250, falling 5.78 percent.

The banking sector was mixed, with the biggest decline coming from Royal Bank of Scotland (LSE: RBS), which was down 4.54 percent after it said it lost £1.15 billion in the third quarter, while HSBC Holdings (LSE: HSBA) was 1.74 percent lower even though its third-quarter profit was better than in the same quarter last year.

Barclays Bank did the best in the sector, adding 0.96 percent.

Most retailers were lower, led by JD Sports Fashion (LSE: JD), which was down 5.05 percent, followed by a decline of 4.11 percent for sporting goods retailer Sports Direct International (LSE: SPD), but food wholesaler Booker Group (LSE: BOK) added 1.36 percent for the best performance among seven gainers in the sector.

Medical device manufacturer Smith & Nephew (LSE: SN) was up 5.19 percent after it said profits were up by 7 percent in the third quarter.

The FTSE Eurofirst 300 was up 0.27 percent to 1,110.06 while the Dax added 0.29 percent to 6,754.2, but the CAC-40 was down just 0.05 point to 3,916.73 and the IBEX dropped 1.65 percent to 10,428.1.

Markets in the Asia-Pacific region were higher, although South Korea’s Kospi dropped 0.18 percent to 1,938.96.

The Nikkei 225 added 2.86 percent to 9,625.99 in Tokyo, bringing the week’s gains to 4.6 percent, while the Topix index was up 2.28 percent to 834.98 and was 3 percent higher for the week and the Mothers market gained 1.75 percent to 335.37.

Carmakers advanced as Toyota Motor (TYO: 7203) added 1.9 percent, Honda Motor (TYO: 7267) was 2.7 percent higher and Nissan motor (TYO: 7201) was up 6 percent after raising its outlook for net income in the full year by 80 percent and on a raised target share price from Nomura.

Among other exporters, consumer electronics giant Sony (TYO: 6758) added 2.7 percent and camera and copier maker Canon (TYO: 7751) gained 3.3 percent.

Traders were up on gains in commodities prices, with Mitsubishi Corp (TYO; 8058) up 3 percent while Mitsui & Co (TYO: 8031) was 4.4 percent higher.

The Straits Times Index was up 0.48 percent to 3,240.31 in Singapore, India’s Sensex added 0.53 percent to 21,005 and the Taiex was 1.09 percent higher in Taiwan.

In Australia, The Sydney Ordinaries gained 1.15 percent to 4,872.9 while the S&P/ASX200 was up 1.17 percent to 4,800.6.

The Shanghai composite was 1.38 percent higher to 3,129.5 and Hong Kong’s Hang Seng added 1.39 percent to 24,876.8.

New York markets were mixed as the Dow Jones Industrial Average was 0.14 percent lower to 11,418.4 and the Nasdaq Composite was down 0.05 percent to 2,576.06, but the S&P 500 was 0.19 percent higher to 1,223.38.

Crude oil prices were also mixed, with West Texas Intermediate crude up a bit in New York trade, but Brent crude was down slightly in London.

Metals prices were higher, with gold again trading in record territory near $1,400 per troy ounce.

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