European equities markets were mostly higher Monday, although some investors were hesitant to make commitments ahead of corporate earnings reports, which are scheduled to begin being released soon.
The FTSE 100 was 0.66 percent higher to 5,167.02 in London, while the FTSE 250 gained 0.29 percent to 9,774.16.
Troubled oil company BP (LSE: BP) led gains on the 100, adding 9.4 percent on the possibility that it could soon have its leaking oil well in the Gulf of Mexico capped, and on rumors that Texas-based Apache Corporation (NYSE: APA) could buy $12 billion in BP assets, while there were media reports that the US government has told ExxonMobil (NYSE: XOM) can explore the possibility of a bid for BP.
Meanwhile, BP said during the day that it has now cost $3.5 billion so far to respond to the Gulf oil spill.
Most of the energy sector was higher, but wind turbine gearbox manufacturer Hansen Transmissions International (LSE: HSN) led a few decliners in the sector, dropping 6.49 percent for the worst performance of the session in the 250.
Elsewhere among commodities, most miners were lower on falling copper prices after new numbers showing that China’s imports of the metal fell in June.
While Antofagasta added 1.69 percent for the best performance in the mining sector, four of the top five places on the 100’s list of decliners were from the sector, led by Kazakhmys (LSE: KAZ) with a decline of 2.85 percent and followed by Rio Tinto (LSE: RIO), which dropped 2.21 percent while Eurasian Natural Resources (LSE: ENRC) was down 1.73 percent and Lonmin (LSE: LMI) was 1.69 percent lower.
Investment managers Ashmore Group (LSE: ASHM) led gains on the 250, adding 5.99 percent for the best performance of the day in London after HSBC Holdings raised its recommendation from “neutral” to “overweight”.
Aerospace group Cobham (LSE: COB), which makes in-flight refueling equipment, added 2.49 percent on an upgrade from “neutral” to “buy” from Bank of America Merrill Lynch, which cited forecasts that defense spending will rise.
Retailers were mixed, with gainers led by automobile retailer Inchcape (LSE: INCH), which added 5.88 percent on the session, while floor covering retailer Carpetright (LSE: CPR) turned in the worst performance in the sector, dropping 2.61 percent.
The FTSE Eurofirst 300 was up 0.29 percent to 1,024.72 while the Dax added 0.2 percent to 6.077.19 and the CAC-40 gained 0.37 percent to 3,567.66, but Madrid’s IBEX dropped 0.68 percent to 10,058.2.
Most equities markets in the Asia-Pacific region were higher Monday, helped by gains in sentiment after new data showed that China’s exports were up by almost 44 percent in June.
Tokyo’s markets had more trouble, however, with the Nikkei 225 down 0.39 percent to 9.548.11 as an election over the weekend took control of the upper house of parliament there away from Prime Minister Naoto Kan and his ruling Democratic Party, hurting chances of legislation that could help rein in debt and help the nation’s economy.
The Topix index was also lower, falling 0.41 percent to 857.7 but the Mothers market managed to add 0.1 percent to 396.25.
Banks were lower as Mitsubishi UFJ (TYO: 8306) dropped 2.1 percent and Mizuho Financial Group (TYO: 8411) fell 2.8 percent.
Exporters were mixed as the yen weakened, with carmaker Honda Motor (TYO: 7267) adding 3.1 percent while consumer electronics giant Sony (TYO: 6758) was up 3.6 percent, but camera and copier maker Canon (TYO: 7751) fell 0.9 percent and chipmaker Tokyo Electron (TYO: 8035) was down 1.7 percent.
Taiwan’s Taiex was also lower, falling 0.1 percent to 7,639.55.
Gainers in the region included the Straits Times Index, which was 0.28 percent higher to 2,925.32 in Singapore, while in Australia the S&P/ASX200 added 0.31 percent to 4,409.9 and the Sydney Ordinaries gained 0.34 percent to 4,429.5.
Hong Kong’s Hang Seng was up 0.44 percent to 20,467.43, the Sensex added 0.58 percent to 17,937.2 in India, South Korea’s Kospi was 0.64 percent higher to 1,734.05 and the Shanghai Composite gained 0.8 percent to 2,490.72 on the new data on exports.
New York markets were mixed as investors worried about corporate earnings reports due soon and lower demand for commodities such as copper in China, while there were continuing concerns about European economic issues.
At just before 1 p.m. the Dow Jones Industrial Average was up just 0.02 percent to 10,199.69, but the S&P 500 was 0.18 percent lower to 1,076.06 and the Nasdaq Composite had dropped 0.12 percent to 2,193.77.
Crude oil prices were lower, with West Texas Intermediate crude trading around $75 per barrel at midday, while metals prices also fell as gold traded back below $1,200 per troy ounce.
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