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LONDON – Fresh concerns about the Eurozone crisis, led by the crises in Italy and Spain, induced the largest, single day decline at the London Stock Exchange since July of 2012. The FTSE 100 closed the day down 100.40 points to end at 6246.84.
Amongst the major ‘losers’ were Vodafone, engineering firm Meggitt, mining firm Antofagasta, Johnson Matthey, Aviva, Royal Bank of Scotland, Lloyds Banking group, Barclays, Centrica and Direct Line. Amidst this sweeping tide of decline in the exchange, Burberry, Randgold Resources, Centamin and Salamander Energy proved to be exceptions.
Political and economic crises in Italy and Spain and the Eurozone, in general, have spilled over to London, resulting in bearish investor sentiments and a concerted move towards safer investments which could be followed by sustained weakness in the market in the coming days.
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MANILA – The Philippines Stock Exchange broke another record, cruising past the 6,400 points mark on Monday. At the end of the trading day, the all shares index touched 6,435.98 points. Much of the rally was driven by eager investors purchasing equities on the heels of buoyant sentiment created by a surging macro economy and anti-corruption drive pledged by President Aquino.
Low interest rates have been a major force driving the recent surge in the country’s macro economy. While stock prices increased across the board, the greatest rises were observed in the diversified ‘Holdings’ sector, comprising multinational conglomerates. The ‘Holdings’ sector gained 2.57%, and it was followed closely by the ‘Services’ sector at 1.81% and the ‘Mining and Oil’ sector at 1.73%.
MUMBAI – The Bombay Stock Exchange closed at 19,736.67 points, down by 44.52 points. Realty sector shares ended the day at 2,205.97 points, down by 6.62 points and the banking sector fell by 109.45 points to close at 14,355.70. Among the leading ‘losers’ at the BSE on Monday were Bank of Baroda, down by 7.63 percent, and IDFC Limited, down by 5.53 percent. Adani Power also fell by 6.31 percent.
KARACHI – New highs were breached at the Karachi Stock Exchange during Monday’s trading. The benchmark KSE-100 index improved by 0.13%, or 21.84 points to end the trading day at 17,288.07. The rally was led, in large part, by a surging telecommunications sector.
Telecard was the most traded share in the telecommunications sector. At the end of the trading day, its shares closed at Rs 4.43. Closely following on Telecard’s heels were shares of the Pakistan Telecommunications Company Limited (PTCL), and Pace Pakistan. PTCL shares ended the day at Rs. 19.39 and Pace Pakistan shares ended at Rs. 3.48.
See also: U.S. Stock Market Update – 2/4/2013 (Overview, Losers, Winners) – February
