FTSE Indexes Trade Mixed as Mining Stocks Continue to Gain

In Europe, stock trading was mixed on Wednesday as the FTSE 100 traded higher while the FTSE 250 was lower. For the day the FTSE 100 closed at 6,162.49, up 5.84 points or 0.09 percent. The FTSE 250 closed at 16,720.75 for a loss of -3.67 points or -0.02 percent.

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Source: FTSE 100 and FTSE 250. Google Finance.

Mining stocks regained some of their value after prices for commodities gained which greatly helped the stocks in the FTSE 100. Lower earnings reports and weaker outlooks, especially in bank stocks led most of the losses for the day.

Interserve was a leading stock gainer for the day however the gains were mostly from overselling on Tuesday after the construction company’s stock was downgraded by analysts. Among the losses were OneSavings Bank as analysts were skeptical of some of the firm’s new loan originations.

Data from IFA magazine, reported the following stocks leading gains in the U.K. on Wednesday.

Centamin (DI) (CEY) 6.70 percent

Interserve (IRV) 4.43 percent

Tullow Oil (TLW) 4.40 percent

Renishaw (RSW) 4.29 percent

Polymetal International (POLY) 4.02 percent

Acacia Mining (ACA) 3.21 percent

Cairn Energy (CNE) 2.88 percent

Ibstock (IBST) 2.81 percent

Evraz (EVR) 2.75 percent

Spire Healthcare Group (SPI) 2.54 percent

In other European markets, Germany’s DAX closed at 9,975.32 for a loss of -70.12 points or -0.70 percent. France’s CAC 40 was lower at 4,316.67 for a loss of -21.54 points or -0.50 percent. The Stoxx Europe 600 closed at 334.74 for a loss of -1.50 points or -0.45 percent. The Europe Dow closed at 1,545.86 for a loss of -3.87 points or -0.25 percent.

In Asia, China’s Shanghai Composite closed at 2,837.04 for a gain of 4.45 points or 0.16 percent. In Japan the Nikkei closed at 16,579.01 for a gain of 13.82 points or 0.08 percent. Hong Kong’s Hang Seng Index was lower at 20,055.29 for a loss of -187.39 points or -0.93 percent. The S&P BSE Sensex closed at 25,597.02 for a loss of -175.51 points or -0.68 percent. The Asia Dow closed at 2,639.96 for a loss of -2.71 points or -0.10 percent.

In the U.S., market indexes traded mostly lower as the retail industry weighed on the market overall. The Dow Jones Industrial Average was trading lower for the day Wednesday at 17,735.81 for a loss of -192.54 points or -1.07 percent. The S&P 500 was trading lower at 2,067.78 for a loss of -16.61 points or -0.80 percent. The Nasdaq Composite was lower at 4,772.03 for a loss of -37.85 points or -0.79 percent. Disney’s earnings results Tuesday after the closing bell had an impact on the day’s trading as the company missed expectations for both revenue and earnings. Lower outlooks and earnings for Macy’s and Staples also led the market lower as retail stocks were the major market movers for the day.

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