AGL 40.14 Increased By ▲ 0.14 (0.35%)
AIRLINK 127.50 Increased By ▲ 0.46 (0.36%)
BOP 6.70 Increased By ▲ 0.03 (0.45%)
CNERGY 4.48 Decreased By ▼ -0.03 (-0.67%)
DCL 8.44 Decreased By ▼ -0.11 (-1.29%)
DFML 41.95 Increased By ▲ 0.51 (1.23%)
DGKC 86.80 Decreased By ▼ -0.05 (-0.06%)
FCCL 32.05 Decreased By ▼ -0.23 (-0.71%)
FFBL 64.88 Increased By ▲ 0.08 (0.12%)
FFL 10.15 Decreased By ▼ -0.10 (-0.98%)
HUBC 109.30 Decreased By ▼ -0.27 (-0.25%)
HUMNL 14.70 Increased By ▲ 0.02 (0.14%)
KEL 5.12 Increased By ▲ 0.07 (1.39%)
KOSM 7.20 Decreased By ▼ -0.26 (-3.49%)
MLCF 41.41 Increased By ▲ 0.03 (0.07%)
NBP 59.75 Decreased By ▼ -0.66 (-1.09%)
OGDC 194.99 Increased By ▲ 4.89 (2.57%)
PAEL 28.22 Increased By ▲ 0.39 (1.4%)
PIBTL 7.75 Decreased By ▼ -0.08 (-1.02%)
PPL 151.25 Increased By ▲ 1.19 (0.79%)
PRL 26.55 Decreased By ▼ -0.33 (-1.23%)
PTC 16.10 Increased By ▲ 0.03 (0.19%)
SEARL 78.11 Decreased By ▼ -7.89 (-9.17%)
TELE 7.46 Decreased By ▼ -0.25 (-3.24%)
TOMCL 35.42 Increased By ▲ 0.01 (0.03%)
TPLP 8.15 Increased By ▲ 0.03 (0.37%)
TREET 16.09 Decreased By ▼ -0.32 (-1.95%)
TRG 52.80 Decreased By ▼ -0.49 (-0.92%)
UNITY 26.63 Increased By ▲ 0.47 (1.8%)
WTL 1.26 No Change ▼ 0.00 (0%)
BR100 9,934 Increased By 50.6 (0.51%)
BR30 30,915 Increased By 315.4 (1.03%)
KSE100 93,807 Increased By 451.4 (0.48%)
KSE30 29,053 Increased By 122.4 (0.42%)

European shares edged up on Monday, as heavyweight miners rose on strong metals prices and defensive drugmakers and tobacco firms gained on concerns over the impact of rising inflation on growth prospects.
Gains, however, were kept in check by falls on the German DAX index, as sentiment was hit by data showing a drop in German manufacturing purchasing managers index (PMI) in January, despite strong numbers from the services sector.
The pan-European FTSEurofirst 300 index of top shares closed 0.3 percent higher at 1,151.18 points.
"Cyclicals are being sold and investors are moving into defensives," said Heino Ruland, strategist at Ruland Research in Frankfurt. "It has a lot to do with worries about inflation in China and concerns that China might overdo it with regards to tightening, which could cause global growth to slow."
Heavyweight mining shares rose, with the STOXX Europe 600 basic resources index up 0.9 percent, boosted by strong copper prices on supply constraints.
Defensive drugmakers also gained, with the healthcare index up 1.1 percent and British American Tobacco up 4 percent, as investors sought perceived safe-haven qualities in an environment of rising inflation.
European Central Bank President Jean-Claude-Trichet was quoted as saying on Sunday that the core eurozone inflation rate, excluding volatile energy and food prices, does not gauge future price pressures well, suggesting it was taking fresh steps towards hiking interest rates this year.
Further inflation expectations were fuelled by Markit Flash Eurozone PMI data on Monday which showed factories in the euro zone reported the strongest monthly price increase on record for raw materials and fuel in January.
Among individual movers, Philips Electronics fell 5.5 percent as it posted disappointing fourth-quarter earnings.
Britain's major banks fell after a weekend speech by the head of the UK's Independent Commission on Banking, set up to probe a shake-up of the sector, raises concerns the banks may have to raise more capital to make their retail bank arms safer.
Lloyds and Royal Bank of Scotland shed 3.4 and 1.9 percent respectively.
Across Europe, Britain's FTSE 100 rose 0.8 percent, Germany's DAX added 0.1 percent and France's CAC 40 climbed 0.4 percent.

Copyright Reuters, 2011

Comments

Comments are closed.