Ferrexpo, Fresnillo lead miners higher on 100, 250

| July 14, 2009 | 0 Comments
Ferrexpo, Fresnillo lead miners higher on 100, 250

European equities markets saw gains Tuesday as shares in miners jumped higher on gains in metals prices.

The FTSE 100 added 0.85 percent to 4,237.68 in London, while the FTSE 250 gained 1.82 percent to 7,411.09.

The top five gainers on the 100 all came from the mining sector, led by gold and silver miner Fresnillo (LSE: FRES) with a gain of 13.28 percent, while he biggest gainer in the mining sector, iron ore miner Ferrexpo (LSE: FXPO) led gains on the 250 as it added 20.78 percent on the session,

The FTSE Eurofirst 300 was up 1.01 percent to 838.61 while the IBEX added 0.7 percent to 8,634, the CAC-40 was 0.98 percent higher to 3,081.87 and the Dax gained 1.26 percent to 4,781.69.

Markets in the Asia-Pacific region were also higher on the session, helped by a new, slightly less ominous growth forecast for Singapore.

Tokyo markets broke their string of declines as the Nikkei 225 added 2.34 percent to 9,261.81, the Topix index was up 1.89 percent to 868.57 and the Mothers market gained 3.77 percent to 403.03.

Elsewhere in the region, the Kospi added 0.54 percent to 1,385.56, the Taiex was up 1.66 percent to 6,639.41, the Straits Times Index gained 1.94 percent to 2,310.55, and the Shanghai Composite was 2.1 percent higher to 3,145.16.

In Australia, the Sydney Ordinaries added 3.23 percent to 3,858.8 and the S&P/ASX200 was up 3.47 percent to 3,867.1, while the Sensex was 3.38 percent higher to 13,853.7 in India and the Hang Seng gained 3.66 percent to 17,885.73 in Hong Kong.

Wall Street was slightly higher in early afternoon trade as quarterly earnings reports were mostly positive, but retail sales data for June disappointed.

The Dow Jones Industrial Average had added 0.09 percent to 8,339.38 at just past 1 p.m. in New York, while at the same time the Nasdaq Composite was up 0.19 percent to 1,796.59 and the S&P 500 had gained 0.29 percent to 903.66.

Crude oil prices ended the day slightly lower but metals prices were higher and grains prices were mixed.

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