KAZ leads 100 as miners gain

Trade was quiet on global equities markets as many European and Asian markets were closed in observance of May Day.

Markets were open in London, where the FTSE 100 fell 0.01 percent to 4,243.22 but the FTSE 250 added 0.56 percent to 7,571.33.

Most miners were higher as Kazakhmys (LSE: KAZ) led the 100 with a gain of 10.28 percent while Vedanta Resources (LSE: VED) was up 5.21 percent, Xstrata (LSE: XTA) added 5.1 percent and Antofagasta (LSE: ANTO) was 4.75 percent higher.

Over on the 250 Cookson Group (LSE: CKSN), which deals in materials technology, led winners as it added 17.95 percent while business services group Rentokil Initial (LSE: RTO) gained 16.73 percent.

Properties groups were mostly lower as Great Portland Estates (LSE: GPOR) turned in the worst performance of the day on the 250 as it fell 5.54 percent while Daejan Holdings (LSE: DJAN) was down 4.71 percent, also on the 250, and over on the 100 Land Securities Group (LSE: LAND) dropped 2.58 percent.

With so many European markets closed for the day, the FTSE Eurofirst 300 added just 0.12 percent to 829.65.

Among major markets in the Asia-Pacific region, only Tokyo and Australian markets were open.

In Tokyo, the Nikkei 225 added 1.69 percent to 8,977.37, its best closing level in four months, while the Topix index was up 1.08 percent to 846.85 and the Mothers market gained 0.1 percent to 344.88.

Mobile phone operator Softbank (TYO: 9984) was up 10.8 percent after it said it plans to eliminate its interest-bearing debt by March 2015, will double its dividend, and believes profits will jump 17 percent his year.

Traders and shippers gained on indications that the economy is getting better, but Japan Tobacco (TYO: 2914) was 6.5 percent lower after it said its operating profit will likely fall 33 percent in the fiscal year.

In Australia the Sydney Ordinaries was 0.18 percent lower to 3,737.9 while the S&P/ASX200 dropped 3,769.6.

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