Wolseley best performer on 100

| September 29, 2011
Wolseley best performer on 100

European equities markets were mostly higher Thursday on positive date from the United States, including a 1.3 percent gain in the US gross domestic product and a decline in first-time jobless claims last week, while gains were also helped after German lawmakers approved an increased contribution to a European fund to help Eurozone nations caught up in the debt crisis.

Markets in London, however, were lower as the FTSE 100 was down 0.4 percent to 5,196.84 and the FTSE 250 dropped 0.53 percent to 9,985.45.

Building materials specialist Wolseley (LSE: WOS) was the best performer on the 100 as it added 6.59 percent, while travel agent Thomas Cook Group (LSE: TCG) did the best on the 250, gaining 5.66 percent.

But miners dragged markets lower in London as Kenmare Resources (LSE: KMR) led the sector and the 250 lower as it dropped 7.37 percent and sector constituents dominated the top five decliners on both the 100 and the 250, including a 5.28 percent decline for iron-ore miner Ferrexpo (LSE: FXPO) and a drop of 4.86 percent for Hochschild Mining (LSE: HOC), while gold miner Fresnillo (LSE: FRES) was down 4.48 percent and Xstrata (LSE: XTA) was 3.86 percent lower.

Aquarius Platinum (LSE: AQP) was the only gainer in the mining sector as it added 5.44 percent.

Fashion house Burberry (LSE: BRBY) was down 8.25 percent to lead declines on the 100 as luxury goods manufacturers declined on predictions that growth will slow in China.

International Consolidated Airlines Group (LSE: IAG) added 3.84 percent after JPMorgan Chase initiated coverage with an “overweight” rating.

The FTSE Eurofirst 300 was up 0.56 percent to 923.49 while the Dax added 1.1 percent to 5,639.58, the CAC-40 was 1.07 percent higher to 3,027.65 and the IBEX gained 1.32 percent to 8,592.5.

Markets in Asia and the Pacific region were mixed.

The Nikkei 225 was up 0.99 percent to 8,701.23 in Tokyo, while the Topix index added 1.09 percent to 762.3 and the Mothers market dropped 3 percent to 400.13 on optimism before the vote later by German legislators that resulted in a larger contribution to a European fund to help nations in the region that are in debt trouble.

Banks were higher, with Mitsubishi UFJ (TYO: 8306) and Sumitomo Mitsui Financial Group (TYO: 8316) each up 2.3 percent, while exporters with business in Europe were up, including a 1 percent gain for Honda Motor (TYO: 7267) and an advance of 0.8 percent for consumer electronics manufacturer Sony (TYO: 6758) after it was down by 2.1 percent earlier.

Tokyo Electric Power (TYO: 9501) was down 11 percent on a media report that the utility had promised that it would not ask for debt relief when it asked for loans from banks.

Other gainers included the Straits Times Index, which added 0.26 percent to 2,708.13 in Singapore, while Taiwan’s Taiex was up 0.5 percent to 7,182.61, India’s Sensex was 1.53 percent higher to 16,698.1 and the Kospi gained 2.68 percent to 1,769.29 in South Korea.

Australia’s markets were lower as the Sydney Ordinaries dropped 0.73 percent to 4,067.9 and the S&P/ASX200 was down 0.77 percent to 4,008.3, while the Shanghai Composite was 1.12 percent lower to 2,365.34.

Hong Kong’s Hang Seng was closed due to the effects of a typhoon.

Equities markets were higher in New York as the Dow Jones Industrial Average was 1.55 percent higher to 11,181.8 in midday trade, while at the same time the S&P 500 had added 1,162.31 and the Nasdaq Composite was 0.05 percent higher to 2,492.94.

Crude oil prices were higher after a decline in first-time jobless claims in the United States last week raised hopes for increased demand, with November contracts for West Texas Intermediate crude up $1.89 to $83.10 per barrel in midday trade on the New York Mercantile Exchange, while Brent crude was last up $1.48 to $105.29 per barrel on the ICE Futures Europe exchange in London.

Metals prices were up in midday trade in New York, with December gold up $5.20 to $1,623.30 per troy ounce, while silver had added 51 cents to $30.64 per troy ounce and copper just over 1 cent higher to $3.26 per pound although three-month contracts for copper were down $71 to $7,179 per tonne in late afternoon trade on the London Metal Exchange as investors still worried about what a possible default by Greece would do to demand.

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