Lloyds Banking Group, Bwin.party Digital Entertainment lead gains on 100, 250

| July 19, 2011 | 0 Comments
Lloyds Banking Group, Bwin.party Digital Entertainment lead gains on 100, 250

European equities markets saw gains Tuesday, helped by data from the United States as computer giant IBM (NYSE: IBM) said sales were above analyst expectations and issued an improved profits outlook for the full year and by a Commerce Department report that showed US housing starts up 14.6 percent in June while permits for new construction were also up.

The FTSE 100 was up 0.65 percent to 5,789.99 in London, while the FTSE 250 added 0.56 percent to 11,592.4.

Lloyds Banking Group (LSE: LLOY) was the best performer on the 100, adding 4.34 percent to lead the banking sector higher, although Standard Chartered (LSE: STAN) was down on the session as it dropped 1.35 percent, while online gambling operator Bwin.party Digital Entertainment (LSE: BPTY) was up 5.9 percent as the best performer on the 250 and in the mostly higher travel and leisure sector.

Other sectors seeing mostly gains included the chemicals sector which, like the banking sector saw only one decline, insurers, the mining and energy sectors, retailers, and the media sector, where British Sky Broadcasting Group (LSE: BSY) added 2.87 percent for the best performance in the sector as Rupert Murdoch and his son James testified before a legislative committee in regard to the phone-hacking scandal at the News of the World.

The food and beverage sector, home builders and the real estate sector, the telecommunications sector and utilities were all mixed on the session.

Software group Autonomy Corporation (LSE: AU) was down 1.56 percent for the worst performance on the 100, while exhibition and conference organizer ITE Group (LSE: ITE) dropped 2.78 percent as it led decliners on the 250.

The FTSE Eurofirst 300 was up 0.81 percent to 1,076.59 while the IBEX added 1.03 percent to 9,443.8, the Dax was 1.19 percent higher to 7,192.67 and the CAC-40 dropped 1.21 percent to 3,694.95.

Markets in the Asia-Pacific region were mixed but banks were lower on continuing concerns regarding debt in the United States and Europe and specifically after European banks continued to worry investors despite the fact that most of them passed stress tests last week.

The Nikkei 225 was down 0.85 percent to 9,889.72 in Tokyo while the Topix index dropped 0.65 percent to 853.75 but the Mothers market added 0.6 percent to 483.9, with banks down while exporters were hurt by uncertainties caused by the debt problems overseas.

Among banks, Sumitomo Mitsui Financial Group (TYO: 8316) was down 1.3 percent while Mizuho Financial Group (TYO: 8411) was 2.3 percent lower and Mitsubishi UFJ (TYO: 8306) dropped 2.5 percent, while among exporters camera and copier maker Canon (TYO: 7751) fell 2.8 percent and Nintendo (TYO: 7974) was down 3.7 percent after Macquarie Group cut its recommendation on the game maker from “outperform” to “neutral”.

Australia’s markets were lower as the Sydney Ordinaries dropped 0.01 percent to 4,539.4 and the S&P/ASX200 was down 0.09 percent to 4,468.1, while other decliners in the region included an 0.01 percent drop to 2,130.21 for South Korea’s Kospi, the Taiex was down 0.16 percent to 8,524.57 and the Shanghai Composite dropped 0.7 percent to 2,796.98.

Hong Kong’s Hang Seng was up 0.45 percent to 21,902.4, the Straits Times Index added 0.56 percent to 3,096.12 in Singapore and India’s Sensex gained 0.79 percent to 18,653.9.

New York equities markets were higher in midday trade as the Dow Jones Industrial Average added 1 cent to 12,508.5 while the S&P 500 was up 0.87 percent to 1,316.76 and the Nasdaq Composite was 1.53 percent higher to 2,807.43.

Crude oil and copper were up on the gains in housing starts, with crude up by $1.58 per barrel in New York and by 97 cents per barrel in London trade, while copper added 6 cents per pound in New York.

Gold and silver were up slightly as gold was 20 cents higher per troy ounce and silver had added 1 cent per troy ounce.

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