Australia equities see gains

With most Asia-Pacific markets still closed for holidays, those markets which remained open in the region were mixed on the session. Australian markets were higher, with the Sydney Ordinaries adding 0.98 percent to 5,723.9. The S&P/ASX200 was up 1.1 percent to 5,658. The gains there came on advances in the banking sector and among supermarkets. In India the Sensex was 0.35 percent lower to 17,464.89 while Shanghai’s FTSE Straits Times Index was down 3.5 percent to 2,931.97.

In Tokyo, the Nikkei 225 fell 1.44 percent to 13,017.24 and the Topix index was 1.37 percent lower to 1,287.14 while the Mothers market dropped 2.58 percent to 602.1. Trade on the Topix was hampered by computer problems, affecting the trade in futures expiring in March. Otherwise, declines came after machinery orders were down more than expected. The construction machinery sector was lower on the session, but truck makers saw gains on quarterly results. The tobacco sector was also higher.

European markets were mostly higher on the session, but in Paris the CAC-40 dropped 0.3 percent to 4,709.65. The pan-European FTSE Eurofirst 300 added 0.47 percent to 1,302.36 while the Dax was up 0.5 percent to 6,767.28 in Frankfurt and Madrid’s IBEX gained 0.35 percent to 12,934.8. The steel sector saw gains, as did builders and the oil sector. The aerospace sector was also higher. Banks were lower, however, and carmakers declined. The telecommunications sector was mixed.

London’s markets saw gains, with the FTSE 100 adding 1.05 percent to 5,784 and the FTSE 250 gaining 0.44 percent to 9,807.5. Miners saw gains on higher metals prices, while the oil and gas sector was mostly higher on broker upgrades within the sector and as oil prices were substantially higher. Caterers saw gains, but there were declines among food processors. Banks and the retail sector were mixed, but mostly higher.

Equities markets in New York were lower in afternoon trade after gains earlier when more bond insurers had their credit ratings lowered and on the possibility that more downgrades will be issued soon. This could hurt not only the bond insurers but the banks which own the bonds as well. The Dow Jones Industrial Average was down 0.87 percent to 12,140.11 while the Nasdaq Composite fell 0.71 percent to 2,292.32 and the S&P 500 dropped 1.02 percent to 1,326.56. The Nasdaq was helped by Amazon (NAS: AMZN) after the online retailer announced a share buyback program worth $1 billion. Jewelers were higher, while the paper and wood products and telecommunications sectors saw declines.

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