Old Mutual leads decliners on 100

| February 19, 2009 | 0 Comments
Old Mutual leads decliners on 100

Insurers were lower Thursday, turning the worst performances of the session on the FTSE 100 in London and the CAC-40 in Paris, as European equities markets saw mixed results Thursday.

Old Mutual (LSE: OML; JSE: OLOML) was down 12.74 percent on the 100 while Axa (Euronext: CS; NYSE: AXA) dropped 9.14 percent on the CAC-40 after it said its net profit fell 83 percent last year and that it will cut its dividend by two-thirds.

London markets split, with the FTSE 100 up 0.29 percent to 4,018.37 while the FTSE 250 dropped 0.45 percent to 6,217.86.

In the Asia-Pacific region, meanwhile, most markets saw gains.

The Nikkei 225 added 0.31 percent to 7,557.65 in Tokyo, while the Topix index was up 0.31 percent to 751.59 but the Mothers market of small and mid-caps dropped 0.43 percent to 302.16.

Elsewhere in the region the Hang Seng was up 0.06 percent to 13,023.36, the Sensex added 0.3 percent to 9,043.63, the Taiex gained 0.68 percent to 4,528.87, and the Shanghai Composite was 0.78 percent higher to 2,227.12.

In Australia, the Sydney Ordinaries added 0.92 percent to 3,398 and the S&P/ASX200 gained 1.05 percent to 3,448.9.

Decliners on the session included the Kospi, which was 0.55 percent lower to 1,107.1 while the Straits Times Index dropped 1.31 percent to 1,629.35.

In early afternoon in New York, the Dow Jones Industrial Average was down 0.28 percent to 7,534.29 while the Nasdaq Composite was 0.42 percent lower to 1,461.8 and the S&P 500 had dropped 0.03 percent to 372.9.

Prices for crude oil and copper saw gains, but precious metals were lower and grains prices were mixed.

The yen and US dollar were both weaker on the session.

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