Barclay’s Bank loses on stake sale

European equities markets were mixed Tuesday as results for banks were mixed in the region.

The FTSE 100 was 0.65 percent lower to 4,477.02 in London while the FTSE 250 managed to add 0.17 percent to 7,772.06 on the session.

Banks were lower on the 100, led by Barclays Bank (LSE: BARC; NYSE: BCS; TYO: 8642), which dropped 13.52 percent to top the losers list on that index after International Petroleum Investment Company of Abu Dhabi sold a stake in the bank.

Retailers were mostly higher in London as DIY retailer Kingfisher (LSE: KFG) led winners on the 100 as it gained 3.75 percent while Sports Direct International (LSE: SPD) added 6.65 percent on the 250.

The FTSE Eurofirst 300 was up 0.07 percent to 886.88 while the Dax added 0.03 percent to 5,144.06 and the IBEX gained 0.35 percent to 9,664.8 but the CAC-40 dropped 0.04 percent to 3,378.04.

Most carmakers were up after the General Motors (NYSE: GM) bankruptcy filing relieved uncertainties in the sector.

Volkswagen (FWB: VOW) led gainers on the Dax as it added 10.24 percent while Renault (Euronext: RNO) was up 2.56 percent and BMW (FWB: BMW) gained 2.08 percent, but Peugeot (Euronext: UG) fell 3.96 percent on the session.

Luxury retailers did well on the CAC-40 as LVMH (Euronext: MC) was up 2.19 percent and PPR (Euronext: PP) was 4.36 percent higher.

Banks were mixed as Credit Agricole (Euronext: ACA) added 1.97 percent, but Commerzbank (FWB: CBK) fell 1.23 percent and Deutsche Bank (FWB: DBK; NYSE: DB) dropped 1.98 percent.

In the Asia-Pacific region, Tokyo’s markets were higher as the Nikkei 225 added 0.27 percent to 9.704.31, the Topix index was up 0.11 percent to 913.56 and the Mothers market gained 0.56 percent to 398.94.

As in Europe, most carmakers gained on reduced uncertainty after the GM bankruptcy.

Toyota (TYO: 7203; NYSE: TM; LSE: TYT) was up 0.8 percent, Nissan Motor (TYO: 7201) added 1.7 percent and Honda (TYO: 7267; NYSE: HMC) gained 2.2 percent, but Suzuki Motor (TYO: 7269) dropped 0.5 percent after it said it had exposure to GM affiliates but none to the US carmaker itself.

Elsewhere in the region, markets were mixed.

The Shanghai Composite was up 0.11 percent to 2,724.3 and the Sensex added 0.23 percent to 14,874.91 while in Australia the Sydney Ordinaries gained 1.55 percent to 3,948.1 and the S&P/ASX200 was 1.56 percent higher to 3,955.3.

Taiwan’s Taiex was down 0.07 percent to 6,949.08 while the Kospi fell 0.16 percent to 1,412.85 in South Korea, the Straits Times Index was 0.18 percent lower to 2,375.82 and the Hang Seng dropped 2.64 percent to 18,389.08 in Hong Kong.

New York markets were lower in trade shortly after noon local time as the Dow Jones Industrial Average fell 0.04 percent to 8,718.08 while the Nasdaq Composite had dropped 0.02 percent to 1,828.34 and the S&P 500 was 0.12 percent lower to 941.75.

Ford Motor (NSYE: F) was up 1.14 percent at just before 1 p.m. although it said its vehicle sales in the US fell 24 percent in May compared to the same month last year after it also reported that May sales gained 20 percent over April’s numbers.

Daimler’s (NSYE: DAI; FWB: DAI) US-traded shares were 0.1 percent higher at the same time even though it said its US sales were down 33 percent in May compared to last year at the same time.

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