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Monday 08th of June 2009
June 5, 2009

Rio Tinto adds 10 percent


by Elaine Frei
Rio Tinto adds 10 percent

European equities markets saw gains to end the week Friday.

The FTSE 100 added 1.18 percent to 4,438.56 while the FTSE 250 gained 1.14 percent to 7,747.33.

Miner Rio Tinto added 10.33 percent to make it the session’s best performer on the 100, while Vedanta Resources (LSE: VED) was up 9.31 percent, Eurasian Natural Resources (LSE: ENRC) gained 7.31 percent and BHP was 6.8 percent higher.

The FTSE Eurofirst 300 was up 0.66 percent to 872.29 while the Dax added 0.24 percent to 5,977.03, the IBEX was 0.68 percent higher to 9,519 and the CAC-40 gained 0.82 percent to 3,339.05.

While markets in the Asia-Pacific region were mixed, more saw gains than suffered declines.

In Tokyo, the Nikkei 225 was up 1.02 percent to 9,768.01 while the Topix index added 0.61 percent to 916.56 and the Mothers market was 0.11 percent higher to 398.65.

Other gainers in the region included the Sensex, which was up 0.63 percent to 15,103.55 while in Australia the Sydney Ordinaries and S&P/ASX200 each added 0.93 percent, to 3,969 and 3,971.2 respectively.

The Hang Seng was 0.96 percent higher to 18,679.53, the Kospi added 1.2 percent to 1,394.71, and the Straits Times Index gained 1.42 percent to 2,396.35.

Among decliners, the Taiex fell 0.28 percent to 6,767.1 while the Shanghai Composite dropped 0.48 percent to 2,753.89.

New York markets were slightly higher in early afternoon trade as the Dow Jones Industrial Average added 0.47 percent to 8,791.13 while at the same time, the Nasdaq Composite was up 0.09 percent to 1,851.66 and the S&P 500 had managed to add just 0.02 percent to 942.62.

Crude oil, grains, and most metals prices were all lower, but only after the price of crude oil went above $70 for the first time this year.

The US dollar strengthened while the pound declined on upheaval surrounding government resignations and changes in the Prime Minister’s cabinet and the yen was lower on speculation that risk demand is set to increase.

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