London markets see gains

In London on Monday the FTSE 100 added 0.22 percent to 6,215.7 while the FTSE 250 was 2.05 percent higher to 10,031.6. Food processors, some retailers, and house builders and property investors and developers were all higher on the session, while the tobacco and pharmaceuticals sector as well as some banks and building materials groups saw declines.

Europe’s markets were mixed but mostly higher. The FTSE Eurofirst 300 added 0.3 percent to 1,433.2. The Dax was up 0.18 percent to 7,732.02 and the CAC-40 gained 0.6 percent to 5,403.51 but Madrid’s IBEX dropped 0.18 percent to 14,431.9. The semiconductors sector, IT groups, software makers, and the automobile manufacturing sector all saw gains. Utilities and the telecommunications sector were lower.

Most Asia-Pacific equities markets were lower on the session, on continuing worries that the US economy is headed for a recession. The main exceptions were the Shanghai Composite and Taiwan’s Taiex index. The Taiex added 1.79 percent to 8,173.41 after the opposition party managed a big win in parliamentary elections. The Kuomintang party, which promotes closer ties with China, won 81 seats in the 113-member parliament. Meanwhile, the Shanghai Composite was up 0.24 percent to 5,497.9.

The least of the region’s declines came in Australia, where the S&P/ASX200 was 0.03 percent lower to 5,980 and the Sydney Ordinaries fell 0.22 percent to 6,040.9. India’s Sensex was down 0.48 percent to 20,728.05. The Kospi index in South Korea dropped 0.92 percent to 1,765.88, a five-month low, on big declines for shipbuilders as investors fear that the US economy will hurt growth globally and affect trade. Hong Kong’s Hang Seng was 1.48 percent lower to 26,468.13 as the oil sector was hurt by demand concerns and the FTSE Straits Times index fell 2.11 percent to 3,218.14. Tokyo’s markets were closed for a holiday.

Wall Street saw significant gains on the session. The Dow Jones Industrial Average added 1.36 percent to 12,778.15 while the Nasdaq Composite was up 1.57 percent to 2,478.3 and the S&P 500 gained 1.09 percent to 1,416.25. Computer related shares were higher, but the retail sector saw declines on warnings and fears of more warnings ahead of the main results season.

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