AV, BOY lead declines on 100, 250

European equities markets fell Friday on continuing worries about economic recovery.

The FTSE 100 was down 0.76 percent to 4,127.17 in London, while the FTSE 250 was 0.53 percent lower to 7,195.31.

Insurer Aviva (LSE: AV) was the biggest loser on the 100 for the second session in a row, falling 4.9 percent, while thermal processing services group Bodycote (LSE: BOY) had the worst day on the 250 as it dropped 10.78 percent.

Oil explorer Emerald Energy (LSE: EEN) had the best day on the 250 as it added 10.12 percent while food retailer Tesco (LSE: TSCO) added 2.49 percent for the biggest gain on the 100.

Most miners headed lower again, with Rio Tinto (LSE: RIO) down 3.33 percent and Lonmin (LSE: LMI) falling 3.1 percent as two of the biggest losers on the 100, while the biggest loser in the sector was Aquarius Platinum (LSE: AQP), with a decline of 4.2 percent.

Talvivaara Mining (LSE: TALV) was one of the few gainers in the mining sector, adding 3.36 percent on the session.

The FTSE Eurofirst 300 was down 1.08 percent to 814.43 while the IBEX fell 1.04 percent to 9,344.9, the Dax was 1.16 percent lower to 4,576.31 and the CAC-40 dropped 1.42 percent to 2,983.1.

There were only three winners on the Dax, led by steel group Salzgitter (FWB: SZG), which added 1.23 percent, and including BMW (FWB: BMW), which added 0.9 percent while sportswear manufacturer Adidas (FWB: ADS) gained 0.2 percent.

Over on the CAC-40, Cap Gemini (Euronext: CAP) led only six gainers and was the top gainer on the Paris index for the second session in a row as it added 1.85 percent, while chipmaker STMicroelectronics (Euronext: STM; NYSE: STM) fell the most as it dropped 4.26 percent.

Most markets in the Asia-Pacific region saw declines on the session.

In Tokyo, the Nikkei 225 was down 0.04 percent to 9,287.28, falling 5.4 percent during the week, while the Topix index was 0.16 percent lower on the session to 872.5 and dropped 5.2 percent in the week.

The Mothers market was down 3.21 percent to 430.73.

Shippers fell on concerns that the bad economy will hurt international trade after the Baltic Dry Index continued to decline, falling 2.9 percent on Thursday.

Mitsui OSK Lines (TYO: 9104) fell 2.9 percent while Nippon Yusen (TYO: 9101) was down 3.3 percent and Kawasaki Kisen Kaisha (TYO: 9107) dropped 3.9 percent.

Other decliners in the region included the Kospi, which fell 0.16 percent to 1,428.62 while the Shanghai composite was down 0.29 percent to 3,113.93, the Hang Seng was 0.46 percent lower to 17,708.42 and the Sensex dropped 1.84 percent to 13,504.22.

The Straits Times Index was up 0.02 percent to 2,307.98 and the Taiex added 0.32 percent to 6,769.86 while in Australia the Sydney Ordinaries gained 0.78 percent to 3,790.6 and the S&P/ASX200 was 0.82 percent higher to 3,794.1.

The Dow Jones Industrial Average was down 0.77 percent to 8,120.14 in midday trade in New York, while the Nasdaq Composite was 0.24 percent lower to 1,748.26 and the S&P 500 had dropped 0.69 percent to 876.56.

The declines came as oil prices fell and investors worried about what the results of corporate earnings season, just getting underway, would bring.

The declines in oil prices sent shares in oil companies lower, with ExxonMobil (NYSE: XOM) down 1.59 percent as Chevron (NYSE: CVX) dropped 3.19 percent at just past 12:30 p.m. in New York.

Story link: AV, BOY lead declines on 100, 250