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Saturday 20th of June 2009
June 16, 2009

BT Group, Telecom Plus lead 100, 250

by Elaine Frei
BT Group, Telecom Plus lead 100, 250

European equities markets were mixed Tuesday, with London markets reflecting the varied results in the rest of Europe.

The FTSE 100 was up 0.06 percent to 4,328.57 while the FTSE 250 was 0.13 percent lower to 7,483.6.

Telecommunications-related shares were the top winners on both London indexes as BT Group (LSE: BT.A; NYSE: BT) added 8.01 percent on the 100 while multi-utility Telecom Plus (LSE: TEP), which includes home and mobile phones, was up 7.04 percent on the 250.

The FTSE Eurofirst 300 was up 0.03 percent to 863.61 and the Dax added 0.02 percent to 4,890.72 while the CAC-40 fell 0.17 percent to 3,213.95 and the IBEX dropped 0.22 percent to 9.497.9.

Most markets in the Asia-Pacific region were lower on the session.

The one major exception was India’s Sensex, which added 0.55 percent to 14,957.91.

In Tokyo, the Nikkei 225 had its worst day since the end of March as it dropped 2.86 percent and fell back below the 10,000 level to close at 9,752.88, while the Topix index fell 3.39 percent to 914.76 and the Mothers market was down 1.82 percent to 425.19.

The Taiex was down just 0.08 percent to 6,220.81 while the Shanghai Composite fell 0.48 percent to 2,776.02, the Kospi was 0.94 percent lower to 1,399.15 and the Straits Times Index dropped 1.23 percent to 2,288.16.

In Australia, the S&P/ASX200 was down 1.72 percent to 3,962.5 and the Sydney Ordinaries fell 1.8 percent to 3,957.9 while in Hong Kong the Hang Seng also dropped 1.8 percent to close at 18,165.5.

At just past 12:30 p.m. in New York the Dow Jones Industrial Average was 0.38 percent lower to 8,579.64 while the Nasdaq Composite was down 0.12 percent to 1,814.29 and the S&P 500 had dropped 0.35 percent to 920.48.

Crude oil prices were volatile, high in early New York trade but down slightly by an hour before the close of floor trade in New York.

Precious metals prices were higher in New York but grains prices on the Chicago Board of Trade were lower in afternoon trade.

The US dollar was weaker during the session as demand for safety declined on home construction data from the US while the euro saw gains on German sentiment and the yen and pound both strengthened.

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