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Friday 07th of May 2010
July 29, 2009    

Insurers Old Mutual, RSA gain on 100

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by Elaine Frei

Equities markets in Europe were mostly higher Wednesday as the corporate earnings season continued, with some results coming in better than expected.

The FTSE 100 and FTSE 250 each added 0.41 percent on the session in London, to 4,547.53 and 7,762.59 respectively.

Insurers were higher as Old Mutual (LSE: OML) was 3.89 percent higher and RSA Insurance Group (LSE: RSA), formerly Royal Sun & Alliance Insurance Group, gained 3.81 percent.

The FTSE Eurofirst 300 was up 0.86 percent to 910.59 while the CAC-40 added 1.04 percent to 3,365.62 and the Dax gained 1.85 percent to 5,270.32 but the IBEX dropped 0.02 percent to 10,661.6.

Most markets in the Asia-Pacific region, on the other hand, saw declines on the session.

Tokyo’s markets bucked the trend as the Nikkei 225 added 0.26 percent to 10,113.24 while the Topix index was up 0.02 percent to 930.36 and the Mothers market gained 1.02 percent to 455.67.

Elsewhere in the sector, the Kospi was down 0.11 percent to 1,524.32 while in Australia the Sydney Ordinaries fell 0.6 percent to 4,148.9 and the S&P/ASX200 was 0.64 percent lower to 4,148.9.

The Straits Times Index dropped 0.76 percent to 2.604.06, the Taiex was down 0.83 percent to 7,083.63, the Sensex fell 1.03 percent to 15,173.46, the Hang Seng was 2.37 percent lower to 20,135.5 and the Shanghai Composite dropped 5 percent to 3,266.43.

New York markets were lower in early afternoon trade as the Dow Jones Industrial Average dropped 0.35 percent to 9,065.05 at nearly 1 p.m. local time, while the S&P 500 was down 0.47 percent to 975 and the Nasdaq Composite was 0.46 percent lower to 1,966.5.

Crude oil prices fell significantly, as did precious metals prices, but grains prices were nearly unchanged in Chicago trade.

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