Home Retail tops gainers on 250
European equities markets were lower Monday on continuing concerns that the region’s debt crisis will get worse and spread, with some analysts saying that another recession is on the way.
The FTSE 100 was down 1.03 percent to 912.34 in London, while the FTSE 250 dropped 0.7 percent to 9,750.56, with declines coming even though manufacturing in the UK expanded slightly in September, with an index from Markit Economics and the Chartered Institute of Purchasing and Supply at 51.5 in September, up from 49.4 in August, against an expected decline.
Most retailer saw gains, with Home Retail Group (LSE: HOME) leading the sector and the 250 as the DIY retailer added 5.52 percent, while online grocery retailer Ocado Group (LSE: OCDO) and clothing retailer JD Sports Fashion (LSE: JD) joining Home Retail among the top five winner on the 250, gaining 4.76 percent and 3.25 percent respectively.
Grocery retailer J. Sainsbury (LSE: SBRY) was among the top gainers on the 100 as it added 2.29 percent, but Tesco (LSE: TSCO) was the worst performer in the retail sector as it dropped 1.98 percent and Wm. Morrison Supermarkets (LSE: MRW) was down 1.24 percent.
Markets were lower in the Asia-Pacific region on new data from the United States that showed US consumer spending slowing down as purchases were up just 0.2 percent in August after being up 0.7 percent in July, according to the Commerce Department, with the declines coming as incomes dropped by 0.1 percent.
Miners were mostly lower, with Vedanta Resources (LSE: VED) leading declines in the sector and on the 100 as it dropped 8.27 percent, although Randgold Resources (LSE: RRS) led six gainers in the sector and was the best performer on the 100, adding 3.66 percent, while the only one of the gainers in the sector not connected to gold mining was nickel miner Talvivaara Mining Company (LSE: TALV), which added 1.35 percent.
Specialty chemicals group Elementis (LSE: ELM) turned in the worst performance on the 250, dropping 7.04 percent.
There was only one gainer in the energy sector as EnQuest (LSE: ENQ) added 0.84 percent, while Cairn Energy (LSE: CNE), down 5.59 percent, was the worst performer in the sector.
Banks were lower, led by a 4.47 percent decline for Standard Chartered (LSE: STAN).
The FTSE Eurofirst 300 was down 1.2 percent to 912.34 while the CAC-40 fell 1.85 percent and saw four gainers, the IBEX was 2.26 percent lower to 8,353.8 with five gainers, and the Dax dropped 2.28 percent to 5,376.7 and saw no gainers while Commerzbank (FWB: DBK) was the worst performer with a decline of 7.27 percent.
The Nikkei 225 was down 1.78 percent to 3,545.48 in Tokyo, while the Topix index was 1.85 percent lower to 747.11 and the Mothers market dropped 0.14 percent to 401.59 after the quarterly Tankan survey from the Bank of Japan showed that manufacturer sentiment remains low.
Exporters were hurt by the drop in consumer spending in the US, with Toyota Motor (TYO: 7203) down 1.97 percent while in the electronics sector, consumer electronics manufacturer Sony (TYO: 6758) dropped 4.51 percent and camera and copier maker Canon (TYO: 7751) was down 1.69 percent.
Traders and shippers were lower after commodities prices dropped last week.
Among traders, Mitsubishi Corp (TYO: 8058) was down 4.77 percent while Mitsui & Co (TYO: 8031) was 5.29 percent lower, while shipper Mitsui OSK Lines (TYO: 9104) dropped 7 percent.
Elsewhere in the region, India’s Sensex was down 1.84 percent to 16,151.5, the Straits Times Index fell 2.01 percent to 2,621.4 in Singapore, Australia’s markets declined as the Sydney Ordinaries dropped 2.69 percent to 3,960.7 and the S&P/ASX200 was 2.78 percent lower to 3,897, Taiwan’s Taiex was down 2.93 percent to 7,013.97 and the Hang Seng dropped 4.38 percent to 16,822.2 in Hong Kong.
Markets in China and in South Korea were closed to observe holidays.
New York equities markets were lower in midday trade, with the Dow Jones Industrial Average down 0.96 percent to 10,808.9 while the S&P 500 dropped 1.23 percent to 1,117.5 and the Nasdaq Composite was 1.47 percent lower to 2,379.81.
Crude oil prices were slightly lower, with West Texas Intermediate crude down 40 cents to $78.80 per barrel in midday trade on the New York Mercantile Exchange, while Brent crude was 51 cents lower to $102.25 per barrel in the most recent report from the ICE Futures Europe exchange in London.
Gold and silver were higher in New York trade at midday as investors looked for safe places to put their cash as they continued to worry about Greece’s debt situation, with gold up $33.10 to $1,655.40 per troy ounce and silver adding 48 cents to $30.56 per troy ounce.
Copper prices were lower, with New York prices down less than a cent to $3.14 per pound, while three-month contracts dropped $28.50 to $6,990 per tonne on the London Metal Exchange after going as low as $6,635 per tonne earlier, with some declines made back on better-than-expected manufacturing data from the United States.