Febuary 22, 2013 – Update on Global Stock Markets
LONDON – The benchmark FTSE-100 recovered after heavy taking losses on the previous trading day. The FTSE-250 index also rose, gaining a good 104 points after plunging on Thursday. The mining sector led the list of stock gainers. Kazakhmys was up 3.5 percent, Evraz rose by 2.7 percent and Rio Tinto was higher by 1.8 percent.
Luxury retailer Burberry surged 2.4 percent on speculations that LVMH would be buying a major stake in the company. J Sainsbury also gained 1.6 percent, while security services provider G4S was down 1.3 percent at the close of trading.
MANILA – After heavy profit taking early on in the trading session, the benchmark PSEi recovered to end the day only 0.03 percent lower. Shares of SM Investments Corp. fell by 0.59 percent to P1017, and that of SM Prime Holdings Inc. declined even more, by 2.77 percent or 54 centavos, to P18.94. Investor confidence is said to have been dented by grim prospects in Wall Street over the outlook of the US and Eurozone economies.
MUMBAI – On Friday, the benchmark BSE index fell 0.04 percent, to close at 19,325.36. FMCG and automobile sectors plunged, but the Healthcare and oil and gas sectors finished the day higher. The FMCG (Fast Moving Consumer Goods) sector shed 81.17 points, followed by the automobile and the metal sectors each losing more than 50 points. The major ‘losers’ during the day included Coal India, shedding 2.31 percent to settle at Rs. 332.35, and, HDFC, losing 1.84 percent, to finish the day at Rs. 800.35.
KARACHI – The bull-run at the KSE came to a screeching halt on Friday as bourses across the globe exhibited a negative trend. The benchmark KSE-100 index lost 0.15 percent, or 26.05 points, to close the day at 17,921.02 points. Oil and Gas Development Company, or OGDC, was amongst the top ‘losers’, shedding 1%. WorldCall Telecom advanced by Rs 0.59 to close at Rs 3.70, much like government owned telecommunications firm PTCL closed the day at Rs 22.83, higher than the previous day by Rs 1.08. Jahangir Siddiqui and Company also gained during the trading day, ending higher by Rs 0.58 to end the day at Rs 18.88.