FXPO, IFL lead miners lower

European equities markets were mixed Tuesday as markets on the continent saw gains in reaction to new data on consumer confidence and new home sales from the United States but London’s markets were lower after yesterday’s holiday.

In London, the FTSE 100 was down 0.63 percent to 5,470.7 and the FTSE 250 dropped 0.53 percent to 9,133.6 as base metals prices declined, sending shares in miners lower.

Iron ore producers fared especially badly, with Ferrexpo (LSE: FXPO) down 10.7 percent as the biggest loser on the 100 while International Ferro Metals (LSE: IFL) dropped 11.76 percent for the worst performance of the session on the 250.

Banks and the oil sector were both also lower, and there were more declines than advances in the retail sector.

The real estate sector was mixed but developer Liberty International (LSE: LII) added 5.34 percent while house builder Taylor Wimpy (LSE: TW) led the 250 with a gain of 14.29 percent.

Elsewhere in the region, the FTSE Eurofirst 300 was 0.16 percent higher to 1,171.09, with the CAC-40 up 0.29 percent to 4,368.55 as the Dax added 0.69 percent to 6,340.52 and the IBEX gained 0.82 percent to 11,419.9.

The telecommunications sector was higher, with Nokia (OMX: NOK1V; NYSE: NOK; FWB: NOA3) adding 3 percent and Alcatel-Lucent (Euronext: ALU; NYSE: ALU; TYO: 6687) leading the CAC-40 with a gain of 4.73 percent.

Chipmakers and utilities were higher, insurance and automobile manufacturers were mixed, and banks and the steel sector were lower.

Fears of more losses related to credit market problems sent Asia-Pacific region equities markets lower Tuesday, with the financial sector - banks, insurers, and brokers - feeling the brunt of the declines.

In Tokyo the Nikkei 225 was 0.78 percent lower to 12,778.71 while the Topix index fell 0.8 percent to 1,229.35, but the Mothers market of small and mid-caps managed to add a bare 0.04 percent to 446.41.

Regional banks saw declines after broker downgrades in the sector, and retailers were lower.

Department store Isetan Mitsakoshi (TYO: 8238; SGX: I15) was down 3.2 percent, while Aeon (TYO: 8267) fell 4 percent and clothing retailer Shimamura (TYO: 8227) dropped 4.2 percent.

In real estate and related sectors, Asahi Homes (TYO: 1913) plummeted 28 percent after its parent company filed for bankruptcy, while developers Tokyo Tatemono (TYO: 8804) and Tokyu Land (TYO: 8815) declined 2.8 percent and 3.5 percent respectively.

Elsewhere in the region, Australia’s S&P/ASX200 and Sydney Ordinaries each dropped 0.15 percent, to 5,007.5 and 5,082.3 respectively as securities group Macquaire (ASX: MQG) fell 3.2 percent and insurer Suncorp-Metway (ASX: SUN) was down 3.4 percent.

The Hang Seng was 0.23 percent lower to 21,056.66 while South Korea’s Kospi was down 0.79 percent to 1,490, Taiwan’s Taiex fell 0.94 percent to 6,964.6 and the Straits Times index dropped 0.96 percent to 2,707.19.

Securities companies saw declines in China, where the Shanghai Composite was down 2.62 percent to 2,350.08.

Citic Securities (SSE:600030) fell 4.3 percent while Haitong Securities (SSE: 600837) dropped 7.8 percent.

India’s Sensex bucked trends, adding 0.22 percent to 14,482.22 on the session.

In early afternoon trade on Wall Street, the Dow Jones Industrial Average was up a bare 0.01 percent to 11,386.98 while the S&P 500 had added 0.14 percent to 1,268.66 but the Nasdaq Composite had dropped 0.16 percent to 2,361.89.

There was not much movement as investors anticipated the release of the minutes of the most recent meeting of the Federal Reserve, due later in the session.

With new home sales reported up 2.4 percent in July, according to the Commerce Department, and consumer confidence up in new data from the Conference Board, Fannie Mae (NYSE: FNM) was up 9 percent and Freddie Mac (NYSE: FRE) was 19.1 percent higher in morning trade on hopes that they won’t require government intervention to survive the housing and credit crises.

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