RBS, LLOY lead 100

European equities markets were higher Monday as banks and miners were up with investors looking for riskier investments as confidence seemed to be staging a recovery.

The FTSE 100 added 0.93 percent in London, while the FTSE 250 was up 1.76 percent to 8,831.89.

Banks led the 100, with Royal Bank of Scotland (LSE: RBS; NYSE: RBS PRM) adding 6.75 percent to top the gainers list on the index, followed by Lloyds Banking Group (LSE: LLOY) with a gain of 6.29 percent.

Miners were higher after gains in metals prices.

Kazakhmys (LSE: KAZ) led the way in the sector as it added 5.77 percent on the session, while Eurasian Natural Resources (LSE: ENRC) gained 5.28 percent.

Most in the oil sector were also higher, but BG Group (LSE: BG) dropped nearly 2 percent on its news that a well it was exploring off the coast of Brazil in partnership with Brazilian oil company Petrobras (BM&F Bovespa: PETR 3, PETR 4; NYSE: PBR, PBRA) did not prove out as gas-yielding.

The FTSE Eurofirst 300 was 0.86 percent higher to 975.19 while the CAC-40 was up 1.01 percent to 3,652.17, the Dax added 1.04 percent to 5,519.75 and the IBEX gained 1.28 percent to 11,303.8.

There were only 5 losers on the CAC-40, mostly in the retail sector, led by luxury retailer PPR (Euronext: PP), which dropped 0.61 percent.

Banks were up as Deutsche Bank (FWB: DBK; NYSE: DB) added 3.12 percent, Credit Agricole (Euronext: ACA) was up 2.42 percent and Societe Generale (Euronext: GLE) gained 2 percent.

Truck maker Man (FWB: EDF1) led gainers on the Dax as it added 5.18 percent, but carmakers fell as Volkswagen (FWB: VOW) lead decliners on the same index as it dropped 1.87 percent while BMW (FWB: BMW) was down 0.74 percent and Renault (Euronext: RNO) was 0.06 percent lower.

Bouygues (Euronext: EN) led gainers on the CAC-40 as it added 5.94 percent.

Markets in the Asia-Pacific region were higher after Hong Kong-listed China Construction Bank Corp (SEHK: 0939) added 2.6 percent after it said its first-half profits were up more than expected on gains in fee incomes and cuts in operating costs.

In Tokyo, the Nikkei 225 was up 3.55 percent to 10,581.05 while the Topix index added 2.42 percent to 970.27 and the Mothers market gained 0.88 percent to 453.13.

A weaker yen helped exporters, including automobile manufacturers, as Toyota Motor (TYO: 7203) was up 2.3 percent and Honda (TYO: 7267) added 3.2 percent.

Traders were up with gains in commodities prices, with Mitsubishi (TYO: 8058) adding 3.9 percent.

The Shanghai Composite was up 1.1 percent to 2,993.43 while the Hang Seng added 1.67 percent to 20,535.94, the Kospi was 1.98 percent higher to 1,612.22, the Sensex gained 2.55 percent to 15,628.75, the Straits Times Index was up 2.65 percent to 2,612.33 and the Taiex was 2.76 percent higher to 6,838.25.

In Australia, the Sydney Ordinaries gained 2.98 percent to 4,434.2 and the S&P/ASX200 was up 3.16 percent to 4,426.1 as shares related to commodities saw gains.

Among miners listed in Sydney, BHP Billiton (ASX: BHP) was up 4.3 percent and Rio Tinto Group (ASX: RIO) added 4.7 percent, while in the oil and gas sector Santos Ltd. (ASX: STO) was 4.8 percent higher and Woodside Petroleum (ASX: WPL) gained 5.3 percent.

Wall Street was mixed in early afternoon trade as the Dow Jones Industrial Average was 0.13 percent higher to 9.518.2 at nearly 1:30 p.m. in New York, while at the same time the S&P 500 was up 0.06 percent to 1,026.78 but the Nasdaq Composite had dropped 0.09 percent to 2,019, with all falling from gains earlier in the session.

Story link: RBS, LLOY lead 100