Exchange-traded funds tracking gold and silver were among the best performers of Monday's session, as commodity futures traded up.
Gold prices were jumping recently by $8.20 to $726 an ounce. Silver was gaining 17 cents to $12.88 an ounce. Copper and other precious metals were also higher.
PowerShares DB Silver
was up 39 cents, or 1.6%, to $25.05. The
PowerShares DB Gold
added 34 cents, or 1.2%, to $28.12. The
iShares Silver Trust
was climbing $1.32, or 1.1%, to $126.12. The
streetTRACKS Gold Shares
was higher by 68 cents, or 1%, to $70.67.
On the other hand, ETFs tracking European bourses were losing ground after U.K. lender
sank 40% on word that its customers withdrew roughly $4 billion from its branches. The stock had fallen 20% on Friday after Northern Rock sought emergency funding from the Bank of England, a sign that the subprime mortgage mess was spilling into overseas markets.
London's FTSE 100 was down 1.5%, the CAC 40 in Paris was off 1.8% and Germany's Xetra Dax was lower by 0.2%.
iShares MSCI United Kingdom Index
was losing 59 cents, or 2.4%, to $24.12. The
PowerShares Dynamic Europe
shed 42 cents, or 1.8%, to $23.36. The
iShares MSCI France Index
was down 68 cents, or 1.9%, to $35.63.
The financial sector took a hit after the Northern Rock news. The
Ultra Financial ProShares
shed $1.49, or 2.7%, to $53.80. The
WisdomTree International Financial
ETF was lower by 57 cents, or 2.1%, to $26.84. The
Financial Select Sector SPDR
was down 54 cents, or 1.6%, to $33.44.
Biotech-related ETFs were also losing ground as several holdings were trading lower.
were all falling by 2% or more.
was down $3.31, or 1.9%, to $170.11. The
First Trust Amex Biotechnology Index
lost 43 cents, or 1.7%, to $24.69. The
PowerShares Dynamic Biotech & Genome
slid 27 cents, or 1.4%, to $18.62.