Hunting plc leads energy sector lower

European equities markets were lower Thursday after commodities prices fell significantly on Wednesday and on new data from the European Union that Eurozone industrial production declined unexpectedly in March.

The FTSE 100 was down 0.52 percent to 5,944.96 in London, while the FTSE 250 dropped 0.42 percent to 11,967.1.

Miners and the energy sector declined on the drop in prices for oil and metals, with the energy sector also hurt after the International Energy Agency cut its global oil demand forecast for this year.

Hunting plc (LSE: HTG) was the worst performer in the energy sector, dropping 3.4 percent, followed by John Wood Group (LSE: WG), which offers engineering services and production support to the energy sector, which was 3.26 percent lower, while Tullow Oil (LSE: TLW) was down 1.19 percent after it said results from exploration off French Guiana will be delayed.

There were only two gainers in the energy sector, with oil and gas explorer Soco International (LSE: SIA) up 0.9 percent while oil explorer Exillon Energy (LSE: EXI) added 0.15 percent.

Only Hochschild Mining (LSE: HOC) saw gains in the mining sector, adding 0.83 percent, while gold and silver miner Fresnillo (LSE: FRES) led declines in the sector as it dropped 7.58 percent, followed among top decliners on the 100 by Antofagasta (LSE; ANTO), which was down 3.95 percent, while Vedanta Resources (LSE: VED) was also among the top five worst performers on the 100 as it retreated by 3.23 percent.

The retail sector was also mostly lower, but the seven gainers in the sector were led by supermarket operator Tesco (LSE: TSCO) with a gain of 1.95 percent.

The travel and leisure sector was mostly higher led by restaurant and pubs operator Restaurant Group (LSE: RTN) with a gain of 2.87 percent, followed by public transport specialist National Express Group (LSE: NEX), which added 2.74 percent as the two biggest gainers on the 250, while the worst performer in the sector was online gambler Bwin.party Digital Entertainment (LSE: BPTY) with a decline of 4.77 percent, followed by pubs operator Enterprise Inns (LSE: ETI), which dropped 3.55 percent.

Most utilities were also higher, led by electric power generator Drax Group (LSE: DRX), which was up 2.64 percent, followed by gas utility Centrica (LSE: CAN) with a gain of 2.64 percent while Scottish & Southern Energy (LSE: SSE) was 1.26 percent higher on the possibility that Spanish utility Iberdrola (BMAD: IBE) could make a bid.

Private equity group 3i Group (LSE: III) was the biggest gainer on the 100 after it reported that asset values were up 6 percent in the half-year ending in March, while the worst performance on the 250 came from clothing brand SuperGroup (LSE: SGP), which dropped 22.55 percent.

The FTSE Eurofirst 300 was down 0.8 percent to 1,144.22 while the IBEX fell 0.42 percent to 10,487.6, the Dax was 0.68 percent lower to 7,443.95 and the CAC-40 dropped 0.86 percent to 4,023.29.

Most markets in the Asia-Pacific region were lower Thursday as crude oil and metals prices declined on concerns that China will once again tighten monetary policy after new data Wednesday showed that inflation continues to rise there.

The Nikkei 225 was down 1.5 percent to 9,716.65 in Tokyo, while the Topix index was 0.97 percent lower and the Mothers market dropped 2.03 percent to 470.60.

Tokyo Electric Power (TYO: 9501) was down 8.8 percent after it said that the fuel rods in one of its damaged nuclear reactors at the Fukushima Dai-Ichi power plant are fully exposed and have partially melted down, and that they have likely been fully exposed since shortly after the beginning of the crisis there.

Companies that do business with Europe were lower as the euro weakened, with camera maker Nikon (TYO: 7731) down 1.9 percent while games manufacturer Nintendo (TYO: 7974) dropped 3 percent.

Commodities-related shares were lower after Wednesday’s big drop in prices for oil and metals, with Japan Drilling Co (TYO: 1606) down 2.3 percent, while Inpex (TYO: 1605) was 3.6 percent lower even though it said profits rose by 20 percent in the full fiscal year, and commodities traders Mitsui & Co. (TYO: 8031) and Mitsubishi Corp (TYO: 8058) were down 1.4 percent and 2 percent respectively.

Among carmakers, Toyota Motor (TYO: 7203) added 3.1 percent after it said its plants in China will be back in full production in June, well ahead of the November date it had originally announced.

The Hang Seng was down 0.94 percent to 23,073.8 in Hong Kong, India’s Sensex fell 1.34 percent to 18,335.8, the Shanghai Composite was 1.36 percent lower to 2,844.08, Singapore’s Straits Times Index was down 1.47 percent to 3,130.45, Australia’s markets were lower as the Sydney Ordinaries dropped 1.68 percent to 4,776.6 and the S&P/ASX200 was down 1.76 percent to 4,696.1 and South Korea’s Kospi was 2.03 percent lower to 2,122.65.

Taiwan’s Taiex managed to add 0.15 percent to 8,033.68.

New York equities markets were mixed in midday trade, with the Dow Jones Industrial Average down 0.02 percent to 12,627.3 and the S&P 500 dropped 0.01 percent to 1,341.98, but the Nasdaq Composite added 0.35 percent to 3,098.14.

Crude oil prices were mixed at midday, with West Texas Intermediate crude down 30 cents to $97.81 per barrel in New York but Brent crude was a cent higher to $112.58 per barrel in recent reports from London.

Gold and silver prices were lower again, with silver down nearly another 4 percent, but copper had added 5 cents in New York.

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