UK pubs operators gain

Global equities markets saw gains on Tuesday. In the Asia-Pacific region, there was at least one record set as the Hang Seng index in Hong Kong closed at its highest level ever, adding 1.74 percent to end the session at 22,151.14. The Hong Kong market has been helped recently by a decision by Chinese authorities to allow corporate investors to make investments outside the country. Elsewhere, the Straits Times index in Singapore added 0.45 percent to 3,566.27, while the Sydney Ordinaries were 0.56 percent higher to 6,333.8 in Australia. In India, the Sensex was up 0.97 percent to 14,806.51. The only exception to gains in Asia was in Tokyo, where the Nikkei 225 closed just about even at 18,149.90. The Topix managed a gain of 0.1 percent to 1,781.86.

Exporters did better in Tokyo than domestically-focused sectors were able to manage. Retailers saw declines, with Aeon (TYO: 8267) 0.2 percent lower to ¥2,285. One exception among the general decline in domestic shares was Daiwa Securities Group (TYO: 8601, which added 3.8 percent to ¥1,352 after Goldman Sachs (NYSE: GS) upgraded the broker from “sell” to “neutral”. Among export-focused gainers, Honda Motor (TYO: 7267; NYSE: HMC) added 0.7 percent to ¥4,570, while construction equipment manufacturer Komatsu (TYO: 6301) gained 1.4 percent to close at ¥3,690. The electronics sector was mixed, however. While Nintendo added 2.1 percent to ¥46,700 on domestic sales of its Wii game console, the news that it far outsold Sony’s (TYO: 6758; NYSE: SNE) PS3 sent Sony’s shares 1.9 percent lower to ¥6,190.

European markets were higher as well. The FSTE Eurofirst 300 added 0.8 percent to 1,612.5. In Madrid, the IBEX was 0.44 percent higher to 14,869.4, while the CAC-40 in Paris gained 0.71 percent to 6,069.84. The Dax was up 1.16 percent to 8,050.68 in Frankfurt. Carmakers were mixed in Europe. Peugeot (Euronext: UG; OTC: PEUGY) was 2.09 percent higher to €61.14, while Renault (Euronext: RNO) added 2.69 percent to €121.38 and Volkswagen (OTC: VLKAY) gained 2.99 percent to €120.55. On the other hand, BMW (FWB: BMW) dropped 0.22 percent to €40.34. In related news, German truck maker and engineering group Man (FWB: EDF1) had the best day on the Dax, adding 4.14 percent to €111.97. In contrast, the worst performance of the day on the Dax came from software group SAP (FWB: SAP; NYSE: SAP), which dropped 2.11 percent to €37.10 after it admitted that one of its units had made “inappropriate downloads” from rival software group Oracle (NAS: ORCL). Retailers did well in Paris. Carrefour (Euronext: CA) had the best day on the CAC-40, adding 3.09 percent to €53.09, while luxury goods retailer PPR (Euronext: PP) did almost as well, gaining 2.94 percent to €131.47. Air France (Euronext: AF; NYSE: AKH) saw the biggest loss of the day on the 40, dropping 1.72 percent to €33.75.

In London, the FTSE 100 was 0.75 percent higher to 6,639.8, while the FTSE 250 added 1.85 percent on the session to close at 11,747.6. Punch Taverns was the best performer on the 100, adding 3.44 percent to £12.62, helped by the even bigger rise on the 250 of fellow pubs operator and brewer Greene King (LSE: GNK), which gained 7.92 percent to £10.36. Greene King said that the new ban on indoor smoking in public places in the UK had not hurt it, as around 95 percent of its pubs have outdoor smoking areas. It also said that it is focusing on food service in an effort to bring in more female customers and families, and that it is looking at splitting 870 of its 1,400 pubs into separate operating and property companies in order to bring more value from its properties. Enterprise Inns (LSE: ETI) also felt the benefit of Greene King’s gains, adding 2 percent on the session, to 687p. Elsewhere, some miners saw gains again. Antofagasta (LSE: ANTO) gained 2.87 percent to 646p, while Lonmin (LSE: LMI) was up 3.13 percent to £43.10. Energy related companies, however, did not do as well. Oil and natural gas producerr BG Group (LSE: BG; NYSE: BG) dropped 0.9 percent to 824p, while utility Kelda Group (LSE: KEL) was 1.31 percent lower to 943p. Electricity generator British Energy (LSE: BGY) had the worst day on the 100, dropping 1.4 percent to 527p.

On Wall Street, markets saw gains ahead of the Independence Day holiday on Wednesday. At mid-session, the Dow Jones Industrial Average had added 0.27 percent to 13,571.45, while the Nasdaq Composite gained 0.35 percent to 2,641.41 and the S&P 500 was 0.26 percent higher to 1,523.43. New data from the Commerce Department showed that factory orders were down only 0.5 percent in May, less than the 1 percent drop that had been expected by most analysts. Carmakers were lower, however, after Ford Motor (NSYE: F) said that sales had dropped in June on less demand for cars. Sales were down for cars, while light truck sales were up slightly. Ford was down 23 cents to $9.41. General Motors (NYSE: GM) was also lower, falling 22 cents to $37.80. In a related sector, Caterpillar (NYSE: CAT), which makes heavy equipment for construction and agriculture, was down $2.60 to $77.85 on a broker downgrade. Elsewhere, food processor Kraft Foods (NYSE: KFT) dropped 85 cents to $34.68 after it said that it had offered for part of French food group Groupe Danone. Computer makers were mixed. Apple (NAS: APPL; LSE: ACP; FWB: APC) added $5.26 to $126.52, while Dell (NAS: DELL; SEHK: 4331) dropped 28 cents to $28.65.