BDEV up on refinancing talks

London’s equities markets were lower on Friday as mortgage lenders and buildings supplies groups both saw declines as house prices were predicted to continue falling but the real estate sector saw more gains than losses and some homebuilders saw advances, led by Barratt Developments’ (LSE: BDEV) 12 percent gain after it was said it is in talks to arrange refinancing of some of its £1.7 billion debt.

Despite those gains, the FTSE 100 was down 1.53 percent on the session to 5,620.8 and the FTSE 250 dropped 0.91 percent to 9,361.1.

European markets were also lower on the session.

Banks were mixed despite fears of more losses related to the credit crisis, but there were only 2 winners each on the Dax in Frankfurt and the CAC-40 in Paris, including a bare 0.01 percent gain for French oil company Total (Euronext: FP; NYSE: TOT).

The FTSE Eurofirst 300 was down 1.63 percent to 1,224.5 while Madrid’s IBEX was 1.37 percent lower to 12,412.5, the CAC-40 fell 1.79 percent to 4,509.27 and the Dax dropped 2.12 percent to 6,578.44.

Markets in the Asia-Pacific region were mostly lower on declines in commodities prices, with miners and banks seeing declines.

Airlines saw losses in China after announced fuel price hikes spurred worries that profits would suffer.

Despite the airlines’ declines, however, the Shanghai Composite bucked the declines by gaining 3.01 percent to 2,831.74, while the trend to losses was also overcome by a gain of 0.31 percent to 3,001.81 by the Straits Times Index.

The Hang Seng dropped 0.23 percent to 22,745.6 in Hong Kong, while the Kospi was down 0.56 percent to 1,731.

In Australia, the Sydney Ordinaries fell 1.46 percent to 5,411.8 and the S&P/ASX200 was down 1.46 percent to 5,288.3.

Taiwan’s Taiex was 1.81 percent lower to 7,902.44 while in India the Sensex dropped 3.42 percent to 14,571.29.

Banks were lower in Tokyo, as were miners, as the Nikkei 225 fell 1.33 percent to 13,942.08, the Topix index was 1.37 percent lower to 1,356.74, and the Mothers market of small and mid-caps dropped 1.42 percent to 597.16.

New York equities markets were lower in early afternoon trade after banks declined on rumors that investment banker Merrill Lynch (NYSE: MER; TYO: 8675) could issue a profits warning and take more write downs in relation to mortgage losses.

Cruise ship operators, electronics retailers, and carmakers all also saw declines.

At just past 1 p.m. in New York, the Dow Jones Industrial Average was down 1.03 percent to 11,938.76 while the Nasdaq Composite was 1.87 percent lower to 2,416.14 and the S&P 500 had dropped 1.15 percent to 1,327.33.

Story link: BDEV up on refinancing talks