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Equity Market News 19th May 2012

Equity Org Headlines:

Essar Energy adds 3 percent in mostly lower London energy sector

Antofagasta leads miners higher in London

Hunting plc leads energy sector lower

Sports Direct International leads London retailers higher

Pace plc drops 40 percent on profits warning

Royal Bank of Scotland leads London banks lower

Royal Bank of Scotland leads banks, FTSE 100 higher in London

Lloyds Banking Group drops 8 percent on first-quarter loss

Lloyds shares down on PPI claims

Aquarius Platinum adds 7 percent amid mostly lower mining sector

08/07/05

Permalink 05:27:21 pm, Categories: Europe Eurofirst, Tokyo Nikkei & Topix, 261 words  

Equity markets rebound

In London, the FTSE 100 was up 1.4 percent on the week to close at 5,232.2 on Friday, while the FTSE 250 saw a rise 1 percent over the week to reach an all-time high at Friday’s close of 7,518.7. Volume on Friday was 2.8 billion shares, about average for a summer Friday and much lower than Thursday’s activity.

Some investors said the recovery after Thursday’s events shows the market’s ability to bounce back, while others were surprised that the market seemed to be ignoring weak economic data and a slowdown in consumer spending.

Investors seemed to be trying to give the impression that they see the threat of terrorism as merely a normal part of everyday life. Sectors that lost big on news of the bombings on Thursday came back on Friday, including airlines and some but not hotel groups. Life insurers also rebounded.

In Tokyo on Friday, the Nikkei 225 lost 0.2 percent to 11,565.99, while the Topix was down 0.22 percent to close at 1,177.61.

Private sector machinery orders were down 6.7 percent in May compared to April. Exporters, including Sony, Canon, and Toyota were down, but retailers were up.

In the eurozone, the FTSE Eurofirst 300 was up 1.3 percent on the day and 1 percent on the week to close at 1151.34. The oil sector saw shares gain value on rising crude oil prices, but tire makers were down on high rubber prices.

On a report that high demand from China could send prices to a 9-year high by the end of the year sent shares in Michelin down 6.4 percent to €47.67 while German tire maker Continental lost 2.4 percent to €58.56.

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