TSCO gains on new data

European equities markets were mixed Tuesday, with London markets lower as banks declined after Bank of New York Mellon (NYSE: BK) produced a disappointing quarterly report and cut its dividend.

In London, the FTSE 100 was down 0.09 percent to 3,987.46 while the FTSE 250 dropped 0.42 percent to 6,987.25.

The declines came despite gains in the retail sector after Tesco (LSE: TSCO) said that its annual profit was up 10 percent and that sales were up, and on a quarterly report from luxury clothing retailer Burberry Group (LSE: BRBY) which showed that revenues ere up.

Tesco added 4.88 percent while Burberry led the 250 with a gain of 12.97 percent.

Most banks were lower on the session in London, led by Lloyds Banking Group (LSE: LLOY) with a decline of 9.09 percent for the worst performance on the 100.

Miners were mostly higher, led by Eurasian Natural Resources (LSE: ENRC), which had the best day on the 100 with a gain of 8.27 percent only a day after it had the worst result on the index.

The worst performer on the 250 was broadcaster ITV (LSE: ITV) with a decline of 8.73 percent.

The FTSE Eurofirst 300 added 0.15 percent to 787.3 while the CAC-40 was up 0.15 percent to 2,973.94 and the Dax gained 0.34 percent to 4,501.63, but the IBEX dropped 1.17 percent to 8,615.8.

Banks were lower as Credit Agricole (Euronext: ACA) fell 2.4 percent, BNP Paribas (Euronext: BNP; TYO: 8665) was down 2.75 percent, Commerzbank (FWB: CBK) was 2.97 percent lower and Societe Generale (Euronext: GLE) dropped 4.52 percent for the worst day on the CAC-40.

Chipmaker STMicroelectronics (Euronext: STM; NYSE: STM) led the CAC-40’s winners with a gain of 5.33 percent.

Most markets in the Asia-Pacific region were lower on the session.

In Tokyo, the Nikkei 225 fell 2.39 percent to 8,711.33 while the Topix index was down 2.07 percent to 830.72 and the Mothers market dropped 1.22 percent to 322.68.

Other decliners included the Sensex, which was down 0.74 percent to 10,898.11 while the Shanghai Composite fell 0.85 percent to 2,535.83.

In Australia, the Sydney Ordinaries dropped 2.4 percent to 3,633.1 and the S&P/ASX200 was down 2.43 percent to 3,677.4, while the Hang Seng was 2.95 percent lower to 15,285.89 in Hong Kong.

Markets seeing gains included South Korea’s Kospi, which was up 0.03 percent to 1,336.81 while the Straits Times Index added 0.66 percent to 1,887.25 and the Taiex gained 1.73 percent to 5,881.41 in Taiwan.

In early afternoon trade in New York the Dow Jones Industrial Average was 0.74 percent higher to 7,899.71 while the Nasdaq Composite had added 1.32 percent to 1,629.39 and the S&P 500 was up 1.1 percent to 841.52.

Banks gained after US Treasury Secretary Timothy Geithner said that some banks will be allowed to pay back bailout money they received from the government, subject to decisions on the issue by bank regulators.

At around 1:30 p.m. in New York, Goldman Sachs (NYSE: GS) was up 4.19 percent while JPMorgan Chase (NYSE: JPM) had added 6.4 percent, Wells Fargo (NYSE: WFC) was 8.82 percent higher, Citigroup (NYSE: C) was up 8.84 percent and Bank of America (NYSE: BAC) had gained 8.98 percent.

All were lower in yesterday’s trade.

Story link: TSCO gains on new data