ENRC, HOC lead 100, 250

Most European equities markets were higher Tuesday, but London markets were mixed as the FTSE 100 added 1.06 percent to 4,411.72 but the FTSE 250 dropped 0.15 percent to 7,530.02.

Miners led both the 100 and 250, with Eurasian Natural Resources (LSE: ENRC) up 6.79 percent on the 100 while Hochschild Mining (LSE: HOC) led both the 250 and the sector which, nevertheless, remained mixed overall.

Banks were also mixed, with decliners topped by Lloyds Banking Group (LSE: LLOY), which dropped 2.62 percent.

Travel agent Thomas Cook Group (LSE: TCG) had the worst day on the 100 as it dropped 4.26 percent.

The FTSE Eurofirst 300 was up 0.96 percent to 865.91 while the IBEX added 0.62 percent to 9,405.7, the CAC-40 was 1.05 percent higher to 3,270.09 and the Dax gained 1.37 percent to 4,985.6.

Carmakers were mostly higher, topping both the Dax, where Daimler (FWB: DAI; NYSE: DAI) was up 4.03 percent and on the CAC-40, where Peugeot (Euronext: UG) was 4.81 percent higher, but Volkswagen (FWB: VOW) dropped 0.18 percent.

Banks were mixed on the CAC-40 as BNP Paribas (Euronext: BNP; TYO: 8665) added 2.17 percent and Societe Generale (Euronext: GLE) gained 4.08 percent but Credit Agricole fell 0.94 percent.

Food processor Danone (Euronext: BN) turned in the worst performance on the CAC-40 as it dropped 5.14 percent.

Markets in the Asia-Pacific region were mostly lower on concerns raised by North Korea’s claims of new missile tests and threats of even more to come.

In Tokyo, the Nikkei 225 was down 0.39 percent to 9,310.81 but the Topix index added 0.09 percent to 883.77 and the Mothers market was 1.63 percent higher to 375.28.

Carmaker Toyota (TYO: 7203; NYSE: TM; LSE: TYT) added 1.1 percent on an upgrade from “underperform” to “buy” from Merrill Lynch.

The pharmaceuticals and telecommunications sectors saw gains, but the technology sector was lower on profit taking.

Also seeing gains were Australian markets, where the Sydney Ordinaries added 1.24 percent to 3,781.6 and the S&P/ASX200 gained 1.35 percent to 3,788.4.

The Hang Seng and the Taiex each were 0.76 percent lower, to 16,991.56 and 6,683.11 respectively, while the Shanghai Composite fell 0.82 percent to 2,588.58, the Straits Times Index was down 1.26 percent to 2,238.79, the Kospi was 2.06 percent lower to 1,372.04 and the Sensex dropped 2.33 percent to 13,589.23.

At nearly 1:30 p.m. in New York the Dow Jones Industrial Average was 2.34 percent higher to 8,470.86 while the Nasdaq Composite had added 3.18 percent to 1,745.77 and the S&P 500 was up 2.42 percent to 908.5.

The significant gains came after the Conference Board reported that US consumer confidence rose in May by its most in a month in six years, an important statistic because around two-thirds of the US economy is driven by consumer spending.

The Conference Board’s Consumer Confidence Index as at 54.9 in May, up from 40.8 in April and much higher than the reading of 42.3 which had been expected.

The gain in consumer confidence helped home builders after S&P/Case Shiller said its home price index fell by 18.7 percent in March.

In afternoon trade, KB Homes (NYSE: KBH) was up 5.46 percent while Hovnanian Enterprises (NYSE: HOV) had gained 7.06 percent.

Story link: ENRC, HOC lead 100, 250