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Friday 04th of June 2010
March 25, 2010    

Thomas Cook Group adds over 6 percent on 100

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by Elaine Frei
Thomas Cook Group adds over 6 percent on 100

European equities markets were up Thursday on hopes that Greece’s financial woes are on the way to being solved.

The FTSE 100 was up 0.88 percent to 5,727.65 in London, while the FTSE 250 added 1.09 percent to 10,190.9.

The travel and leisure sector was higher as travel agent Thomas Cook Group (LSE: TCG) topped the gainers list on the 100, adding 6.21 percent while pubs and restaurants operator Mitchells & Butler (LSE: MAB) gained 6.89 percent on the 250 and led the sector.

Public transport operator Arriva (LSE: ARI) was down 1.53 percent for the only loss among travel and leisure businesses.

The biggest gain in London came for oil and natural gas explorer Afren (LSE: AFR), which led the 250 as it added 8.56 percent, while oil explorer Cairn Energy (LSE: CNE) gained 6.2 percent on the 100.

The biggest decline in the energy sector came for wind turbine gearbox manufacturer Hansen Transmissions International (LSE: HSN), which fell 2.57 percent.

Most in the retail sector saw gains, led by clothing retailer Next (LSE: NXT), which gained 5.02 percent after it reported full-year results that were better than expected and raised its dividend by 20 percent., but auto retailer Inchcape (LSE: INCH) dropped 1.67 percent for the worst performance in the sector.

Utilities saw gains, led by electricity generator Drax Group (LSE: DRX) with a gain of 7.82 percent while gas and electricity utility Scottish & Southern Energy (LSE: SSE) added 3.59 percent.

Insurer Old Mutual (LSE: OML) was the worst performer on the 100 as it dropped 1.6 percent, while auto insurer Admiral Group (LSE: ADM) fell 1.06 percent.

IT Group Dimension Data Holdings (LSE: DDT) dropped the most on the session in London and was the worst performer on the 250 as it dropped 2.78 percent.

Asia-Pacific region markets were mixed on the session.

The Nikkei 225 added 0.13 percent to 10,828.85 in Tokyo, while the Topix index was 0.02 percent higher to 952.13 but the Mothers market dropped 1.47 percent to 445.28.

Shares related to the semiconductors sector were higher on a weaker yen and expectations of earnings gains, as Tokyo Electron (TYO: 8035) added 1.7 percent, Shin-Etsu Chemical (TYO: 4063) was up 2.5 percent and Advantest (TYO: 6857) gained 2.68 percent.

All Nippon Airways (TYO: 9202) dropped 3 percent after Goldman Sachs downgraded the air carrier to “sell” and put it on its “conviction sell” list.

In the construction sector, Obayashi Corp (TYO: 1802) was 1.25 percent lower after it said it is likely to see an operating loss of ¥66 billion for the full year.

Other gainers in the region included the Straits Times Index, which added 0.07 percent to 2,888.37 while the Taiex was up 0.2 percent to 7,838.1, the Kospi was 0.44 percent higher to 1,688.39 and the Sensex gained 0.62 percent to 17,558.85.

In Australia, the S&P/ASX200 was down 0.12 percent to 4,885.4 and the Sydney Ordinaries fell 0.14 percent to 4,896.3, while the Hang Seng was 1.1 percent lower to 20,778.55 in Hong Kong and the Shanghai Composite dropped 1.23 percent to 3,019.18.

The declines in Shanghai came on rumors that the Chinese government might again raise the amount of cash banks are required to keep on reserve as speculation mounted that inflation will have risen yet again in China in March.

New York markets were up in early afternoon trade after Federal Reserve Chairman Ben Bernanke testified before a congressional committee that while the Fed is ready to begin dismantling its stimulus apparatus, interest rates will still need to remain low for some time to come.

At just before 2 p.m. in New York, the Dow Jones Industrial Average was up 0.76 percent to 10,918.68 while at the same time the S&P 500 had added 0.63 percent to 1,175.02 and the Nasdaq Composite was 0.92 percent higher to 2,420.84.

Crude oil prices were up in afternoon trade and copper prices had risen, but precious metals prices were slightly lower.

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