Global markets mixed on continuing troubles

| April 4, 2011 | 0 Comments
Global markets mixed on continuing troubles

Equities markets were mixed around the globe Monday as Japan continued to try to control the failure at its Fukushima Dai-Ichi nuclear facility and political unrest spread in the Middle East and North Africa.

The Nikkei 225 was up 0.11 percent in Tokyo, to 9,718.89, but the Topix index was 0.33 percent lower to 859.75 and the Mothers market dropped 1.48 percent to 449.81, with Tokyo Electric Power (TYO: 9501) down again after it released some of the radioactive seawater it has pumped into reactors at the Fukushima plant to cool reactors back into the ocean.

Power generator rental specialist Aggreko (LSE: AGK) was higher in London after it said it will provide Tokyo Electric Power with emergency generators to help supply power in regions of Japan hit by the quake.

Credit Suisse cut its recommendation on the Tokyo real estate sector from “overweight” to “market weight”, sending shares in the sector lower, while the retail clothing sector got a boost from upgrades in the sector.

Australia’s markets were higher as the S&P/ASX200 added 0.51 percent to 4,886.8 and the Sydney Ordinaries gained 0.61 percent to 4,984.7, while the Straits Times Index was up 0.65 percent to 3,140.62 in Singapore, India’s Sensex was 1.45 percent higher to 19,701.7 and the Hang Seng added 1.46 percent to 24,150.6 in Hong Kong, but South Korea’s Kospi dropped 0.24 percent to 2,115.87.

Markets in China and Taiwan were closed in observance of Qingming Festival, which honors ancestors.

Markets were mixed in Europe.

The FTSE 100 added 0.12 percent to 6,016.98 in London, while the FTSE 250 gained 0.49 percent to 11,766.6, with some telecoms down, while miners and the energy sector were mostly higher and retailers and the travel and leisure sector were both mixed on the session.

Elsewhere in the region, the Eurofirst 300 was up 0.13 percent to 1,142.84 and the IBEX added 0.24 percent to 10,756.1, but the Dax dropped 0.06 percent to 7,175.33 and the CAC-40 was 0.29 percent lower to 4,042.92.

There was little movement on Wall Street as the Dow Jones Industrial Average added just 0.1 percent to 12,388.7 at midday , the S&P 500 was down 0.02 percent to 1,332.2 and the Nasdaq Composite was up by just 0.03 point to 2,789.63.

Crude oil prices were up as more problems in the Middle East and North Africa worried investors, with Brent crude going above $120 per barrel, while among metals, gold and silver were higher in New York trade, but copper slipped slightly.

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