FTSE 100 eases up; defensive stocks led gains

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Source: Dukascopy Bank SA
© Scanpix/AFP
UK stocks inched up on better-than-expected business climate data from Germany. However, gains were limited as uncertainty over Greek bailout persisted. The FTSE 100 Index added 0.1% to trade at 5,796.82. Six out of ten sectors within the index advanced. Defensive stocks led gains, with health care and consumer goods sectors rallying 0.31% and 0.33%. AstraZeneca and GlaxoSmithKline climbed 0.42% and 0.15%, while SABMiller and Diageo added 0.8% and 0.69%. At the same time, telecommunication and basic materials sectors dragged the UK stock index lower. BT Group and Vodafone Group dropped 0.36% and 0.47%. Among miners, Rio Tinto, Kazakhmys and Vedanta Resources shed 0.85%, 0.79% and 0.56%. Meanwhile, Glencore and Xstrata continued to move higher after the EU regulators approved their merger. Shares of Glencore and Xstrata climbed 0.69% and 1.08%.


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Fri, 23 Nov 2012 14:02:03 GMT

German shares flat after upbeat business climate data

German shares retreated despite positive business climate data. The Ifo Institute for Economic Research reported that its German business climate index advanced to 101.4 in October from 100.0 in September. Experts predicted the index to drop to 99.5 last month. German blue chips remained under notable pressure as market players were cautious over Greek bailout talks due to be resumed

Fri, 23 Nov 2012 13:40:02 GMT

Hong Kong equities climbed on hopes for reforms

Hong Kong equities advanced on Friday as upbeat PMI data continued to lend support for Chinese shares. Market sentiment was also boosted by China's officials' comments that the country is moving towards reforms as China enters a new stage of economic development. However, concerns that the Eurozone's finance ministers still have not agreed on the next Greek bailout tranche  capped 

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