|    FM Home   |    FM News   |    FM Forum   |    FM Blog   |   
Thursday 03rd of March 2011
October 2, 2009    

Britvic, SABMiller lead London markets

Bookmark and Share

by Elaine Frei
Britvic, SABMiller lead London markets

European equities markets were lower to end the week as the US Labor Department delivered more bad news on jobs in the United States.

Government numbers showed that the US lost 263,000 jobs in September, 83,000 more than had been expected, and that the unemployment rate was up to 9.8 percent, the highest level in 26 years.

The FTSE 100 was down 1.17 percent to 4,988.7 in London, while the FTSE 250 fell 1.81 percent to 8,899.96.

The food and beverages sector, while mixed, turned in the best performances on both the 100 and the 250 as soft drinks manufacturer Britvic (LSE: BVIC) added 3.66 percent on the 250 to lead the sector while brewer SABMiller (LSE: SAB) was up 2.36 percent on the 100.

Banks lost ground as Royal Bank of Scotland (LSE: RBS; NYSE: RBS PRM) dropped 7.73 percent for the worst performance on the 100, followed by Lloyds Banking Group (LSE: LLOY) with a decline of 4.51 percent.

Oil well construction and platform accessories group Hunting (LSE: HTG) led the energy sector and the 250 lower as it fell 6.96 percent on the session.

The FTSE Eurofirst 300 was down 1.69 percent to 965.15 while the Dax fell 1.56 percent to 5,467.9, the IBEX was 1.66 percent lower to 11,326.7 and the CAC-40 dropped 1.9 percent to 3,649.9.

There were no winners on the CAC-40 and only two on the Dax.

Markets in the Asia-Pacific region fell after Tokyo markets were lower in active trade on concerns over the strength of the yen as well as what the new Japanese government might do to save money.

The Nikkei 225 was down 2.47 percent to 9,371.87, bringing this week’s declines for the index to 5.2 percent, while the Topix index fell 2.39 percent to 874.67 and the Mothers market dropped 3.54 percent to 422.94.

The declines in Tokyo came even after new data showed that unemployment in Japan was down to 5.5 percent in August after reaching a record high in July and as investors worried that the new government will discontinue public works construction to save money.

Meanwhile, the strength of the yen hurt exporters.

Elsewhere in the region, the Taiex was 1.77 percent lower to 7,411.88 in Taiwan while the Straits Times Index was down 1.99 percent to 2,604.53.

In Australia, the Sydney Ordinaries fell 2.04 percent to 4,606.1 and the S&P/ASX200 was down 2.11 percent to 4,601.7, while the Hang Seng dropped 2.77 percent to 20,375.49.

Markets in China, South Korea and India were closed in observance of public holidays.

US markets were lower in midday trade on the new jobs data and on a Commerce Department report that factory orders were down by 0.8 percent in August, against an expected gain, after gains in July.

At just past 12:30 p.m. in New York the Dow Jones Industrial Average and the Nasdaq Composite were each down 0.12 percent, to 9,498.02 and 2,054.98 respectively, while the S&P 500 had dropped 0.24 percent to 1,027.42.

Crude oil prices were lower in early afternoon trade in New York, while at the same time precious metals prices were mixed.

Discuss this in the Finance Markets forums

Story link: Britvic, SABMiller lead London markets




Related financial stories to: Britvic, SABMiller lead London markets:
Previous: «
Next: »

No Comments »

No comments yet.

RSS feed for comments on this post.

Leave a comment

Tags: , , , ,

Visited 1453 times, 3 so far today