Daily Investment Market News from London
Wednesday 10th of March 2010
July 17, 2009

AQP, ENRC lead mining sector


by Elaine Frei

AQP, ENRC lead mining sector

European equities markets were higher again Friday.

The FTSE 100 was 0.62 percent higher to 4,388.75 in London, while the FTSE 250 added 0.35 percent to 7,580.66.

Miners remained in focus as metals prices advanced, with all five top winners on the 100 and the top winner on the 250 coming from the mining sector.

Aquarius Platinum (LSE: AQP) led both the 250 and the mining sector as it added 8.17 percent, while Eurasian Natural Resources (LSE: ENRC) was up 5.76 percent to lead the 100, followed by Xstrata (LSE: XTA), which gained 4.28 percent as Vedanta Resources (LSE: VED) added 4.23 percent, Rio Tinto (LSE: RIO) was up 3.53 percent and Antofagasta (LSE: ANTO) was 3.39 percent higher.

Not all in the sector saw gains, however, as gold and silver miner Fresnillo (LSE: FRES) dropped 1.57 percent on the session.

Meanwhile Lloyds Banking Group (LSE: LLOY) dropped 3.5 percent and turned in the worst performance on the 100 in a mixed banking sector and automobile retailer Inchcape (LSE: INCH) was down 6.39 percent as it led decliners on the 250.

The FTSE Eurofirst 300 was up 0.49 percent to 871.05 while the Dax added 0.43 percent to 4,978.4, the IBEX was 0.44 percent higher to 10,041.9 and the CAC-40 gained 0.59 percent to 3,218.46.

Retailer Metro (FWB: MEO) had the best day on the Dax as it added 3.67 percent while agricultural chemicals group K & S (FWB: SDF) fell 2.67 percent to turn in the worst performance on the Frankfurt index.

In Paris, IT services group Cap Gemini (Euronext: CAP) turned in the best performance of the session on the CAC-40 with a gain of 3.24 percent while hotels operator Accor (Euronext: AC) dropped 7.54 percent to lead decliners there.

Markets in the Asia-Pacific region were up on the session, although the Jakarta Composite dropped 0.55 percent after two hotels were bombed there.

In Tokyo, the Nikkei 225 added 0.55 percent to 9,395.32 while the Topix index was up 0.69 percent to 878.29 and the Mothers market gained 2.73 percent to 433.23.

The Tokyo markets were up ahead of a three-day weekend in observance of the Marine Day holiday, and as the real estate sector gained on positive broker comment.

Sumotomo Realty and Development (TYO: 8830) was up 4.1 percent while Mitsubishi Estate (TYO: 8802) added 4.4 percent and NTT Urban Development (TYO: 8933) gained 6.1 percent.

Sony (TYO: 6758) and Nintendo (TYO: 7974), both of which manufacture game consoles, were both lower, falling 0.9 percent and 1.2 percent respectively on the news that revenue from the US from computer games and related accessories are down by 31 percent.

Sony was also lower on a huge loss for its joint venture in mobile phones with Sweden-based Ericsson (OMX: ERIC B), which saw a net loss of €213 ($300 million) in the most recent quarter.

Personal computer manufacturer NEC (TYO: 6701) dropped 8.9 percent on news reports that it will raise new capital.

In Australia, the Sydney Ordinaries and S&P/ASX200 each added 0.13 percent, to 3,992.9 and 4,000.8 respectively, while the Shanghai Composite was up 0.19 percent to 3,189.74, the Kospi was 0.55 percent higher to 1,440.1, the Taiex gained 1.04 percent to 6,850.99, the Straits Times Index added 1.25 percent to 2,430.96, the Hang Seng was up 2.42 percent to 18,805.66 and the Sensex gained 3.47 percent to 14,744.92.

New York markets were mixed in early afternoon trade as the Dow Jones Industrial Average added 0.16 percent to 8,725.95 and nearly 1:30 p.m., while at the same time the Nasdaq Composite was down 0.09 percent to 1,883.38 and the S&P 500 had dropped 0.17 percent to 939.13.

Story link: AQP, ENRC lead mining sector



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