Insurer Old Mutual adds 7 percent

| July 15, 2009 | 0 Comments
Insurer Old Mutual adds 7 percent

Europe’s equities markets saw gains Wednesday, with miners and insurers both up in London.

The FTSE 100 added 2.57 percent to 4,346.46 in London, while the FTSE 250 gained 2.18 percent to 7,572.33.

Insurers were also higher, with Old Mutual (LSE: OML) up 7.2 percent while Legal & General (LSE: LGEN) added 6.74 percent.

The FTSE Eurofirst 300 was up 2.64 percent to 862.31 while the IBEX added 2.82 percent to 9,905.3, the CAC-40 was 2.9 percent higher to 3,171.27 and the Dax gained 3.07 percent to 4,928.44.

Markets in the Asia-Pacific region were also higher.

In Tokyo, while the Topix index dropped 0.25 percent to 866.37, the Nikkei was up 0.08 percent to 9,269.25 and the Mothers market added 3 percent to 415.11.

The Shanghai Composite was up 1.38 percent to 3,188.55 and the Taiex added 1.49 percent to 6,738.6, while in Australia the S&P/ASX200 was 1.48 percent higher to 3,924.5 and the Sydney Ordinaries gained 1.52 percent to 3,917.5.

Meanwhile, the Hang Seng added 2.09 percent to 18,258.66, the Kospi was up 2.55 percent to 1,420.86, the Sensex was 2.88 percent higher to 14,253.24 and the Straits Times Index gained 3.41 percent to 2,389.42.

New York markets were up in early afternoon trade as the Dow Jones Industrial Average had added 2.28 percent to 8,549.71 at just past 1 p.m. local time, while at the same time the Nasdaq Composite was up 2.77 percent to 1,849.6 and the S&P 500 was 2.24 percent higher to 926.17.

Crude oil prices rose as the US Energy Information Administration said that crude inventories dropped last week.

Metals prices were higher on new manufacturing data and a weaker dollar, while grains prices were mixed.

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