Sports Direct International leads London retailers higher

European equities markets were mixed Wednesday, with markets in London and Frankfurt seeing declines while Paris and Madrid markets made gains.

The FTSE 100 was down 0.71 percent to 5,976 in London, while the FTSE 250 dropped 0.31 percent to 12,017.9 after the Bank of England said that inflation could reach 5 percent later in the year, and the outlook for growth in the UK economy was not optimistic.

Most sectors were lower on the session, but the UK retail sector was mostly higher, led by a 2.79 percent gain for sporting goods retailer Sports Direct International (LSE: SPD), while the biggest decliner of four in the sector was online grocery retailer Ocado Group (LSE: OCDO), which dropped 9.44 percent for the worst performance on the 250 after it said sales growth has slowed due to limited capacity and two recent bank holiday weekends.

Home credit group International Personal Finance (LSE; IPF) had the best day on the 250, adding 7.19 percent, but Provident Financial (LSE: PFG), from which International Personal Finance demerged in 2007, was down 4.64 percent, also on the 250.

The best performance on the 100 came from clothing manufacturer Burberry Group (LSE: BRBY), which was up 2.71 percent.

The media sector was mostly higher, led by publisher and conference organizer Informa (LSE: INF) with a gain of 2.21 percent, but broadcaster ITV (LSE: ITV) dropped 5.27 percent for the worst performance in the sector and on the 100 after it said advertising revenues will grow more slowly in May and June this year, compared to last year.

Most miners were lower, led down by Hochschild Mining (LSE: HOC) with a decline of 4.75 percent, while the two gainers in the sector were Kenmare Resources (LSE: KMR), which was up 5.22 percent, and iron-ore miner Ferrexpo (LSE: FXPO) with a gain of 1.04 percent.

The energy sector also saw declines, led by BG Group (LSE: BG), which was 3.22 percent lower, while the three gainers in the sector were Soco International (LSE: SIA) with a gain of 4.04 percent, AMEC (LSE: AMEC), which was up 1.77 percent and Salamander Energy (LSE: SMDR), which added 0.46 percent.

The travel and leisure sector was mostly lower, with restaurant and pubs operator Restaurant Group (LSE: RTN) down 7.81 percent, while six gainers in the sector were led by public transport specialist First Group (LSE: FGP) with an advance of 2.21 percent.

The health care sector was mixed as drug maker Shire plc (LSE: SHP) added 2.29 percent to lead gains, while specialty pharmaceuticals group BTG (LSE: BGC) dropped 1.57 percent for the worst day in the sector.

Pace plc (LSE: PIC), which makes set-top boxes for pay-tv systems, added 5.38 percent, making back a bit of its nearly 40 percent decline on Tuesday.

The FTSE Eurofirst 300 was up 0.31 percent to 1,153.23 while the CAC-40 added 0.14 percent to 4,058.8 and the IBEX gained 0.55 percent to 10,531.5, but the Dax was down 0.09 percent to 7,495.05.

Most equities markets in the Asia-Pacific region were higher Wednesday, although China’s markets were lower as new data showed that consumer prices there were up by 5.3 percent in April from last year at the same time, slightly above projections,, while producer prices were up by 6.8 percent.

A weaker yen helped gains in Tokyo’s markets, where the Nikkei 225 added 0.46 percent to 9,864.26 while the Topix index was up 0.14 percent to 857.62 and the Mothers market gained 0.46 percent to 480.43.

Tokyo Electric Power (TYO: 9501) was up 8.5 percent after it agreed to government monitoring of its compensation payments to victims of the Fukushima Dai-Ichi nuclear disaster to make sure that it pays full compensation and said it will not limit compensation to the victims as conditions for government support to the utility company.

Carmakers were helped by a weaker yen and by comments from Goldman Sachs, which said that the auto manufacturers are returning to full production as access to parts is improving after interruptions due to the 11 March earthquake in northern Japan.

Toyota Motor (TYO: 7203) was up 0.6 percent, while Nissan Motors (TYO: 7201) added 2 percent and Honda Motor (TYO: 7267) was 2.1 percent higher.

In a related sector, tire maker Sumitomo Rubber Industries (TYO: 5110) was up 4.9 percent after it raised its prediction for full-year net income by 28 percent.

Meanwhile, NEC (TYO: 6701), which makes telecommunications equipment as well as other electronics equipment and appliances, gained 4.7 percent after it said it will likely return to profits in the current fiscal year.

Other gainers in the region included India’s Sensex, which was up 0.39 percent to 18,585 and the Straits Times Index added 0.66 percent to 3,177.18, Australia’s markets saw gains as the Sydney Ordinaries gained 1.14 percent to 4,858.2 and the S&P/ASX200 was 1.15 percent higher to 4,780.2, while South Korea’s Kospi was 1.28 percent higher to 2,166.63.

Taiwan’s Taiex was 0.03 percent lower to 9,020.4, the Hang Seng dropped 0.19 percent to 23,291.8 in Hong Kong and the Shanghai Composite was 0.25 percent lower to 2,883.42.

New York equities markets were lower at just past 1 p.m. local time, with declines coming as commodities prices dropped.

The Dow Jones Industrial Average was down 1.15 percent to 12,613.8, while the S&P 500 had dropped 1.19 percent to 1,341.02 and the Nasdaq Composite was 1.04 percent lower to 2,841.88.

June contracts for West Texas Intermediate crude was down $4.84 to $99.04 per barrel at just before 1 p.m. on the New York Mercantile Exchange, while Brent crude had dropped $4.56 to $113.07 per barrel after the US Energy Information Administration reported that crude oil and gasoline stockpiles grew last week in the United States.

Metals prices were also lower as gold again dropped below $1,500 per troy ounce on a decline of $20.50 per ounce, while silver was down $3.26 per troy ounce and the US dollar strengthened and investors took profits, while copper was down 12 cents per pound in New York trade.

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