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Oil Prices Recede on OPEC Assurance; AIG Swings to Profit

Arthi Gupta
25 Feb, 2011
New York City

U.S. stocks gained after crude oil declined and OPEC member nations assured of higher supply to meet any shortfall from Libya. International Energy Agency also said it will release oil from its stockpile. Unrest and disruptions in Libya and Bahrain continue.

Sensex in India Gain; Railways Budget $12.7 Billion

Devan Biswas
25 Feb, 2011
New York City

Mumbai stocks closed higher as railways minister presented populist budget and plans to extend 1,300 kilometers of new tracks. Minister Banerjee left passenger and freight rates unchanged in her third budget in a row. The largest annual outlay of $12.7 billion will be funded with $4.5 billion debt.

Hang Seng Rebounds 1.8%, AIA Net Up 54%; China Cement Makers Rise

Devan Biswas
25 Feb, 2011
New York City

Stocks in Shanghai edged lower but in Hong Kong soared 1.8%. Crude oil decline lifted trading sentiment in China region. Banks, property developers and oil refiners closed higher in Hong Kong. AIA Group Ltd reported 2010 net surged 54% on higher investment income.

Japan CPI Decline Slows; Nikkei Falls 2.9% in the Week

123jump.com Staff
25 Feb, 2011
New York City

Nikkei in Tokyo rebounded after oil declined and Saudi Arabia pledged to increase supply. Consumer prices declined at the smallest pace in January since April 2009 but economists warned that cost driven inflation is not good for economy. Nikkei rose Friday and lost 2.9% in the week.

Sinopec Takes 15% Stake in Origin LNG Venture, Woolworths Net Up 6%

Marcus Jacob
25 Feb, 2011
New York City

Australian stocks rebounded after crude oil declined on the pledges from Saudi Arabia to meet any shortfall from Libya. Woolworths first-half net rose 6%. Iluka soared after it reported better than expected profit. Harvey Norman net dropped 17%. Sinopec acquires 15% stake in Origin LNG venture.

U.S. Stocks, Oil Regain Losses; GM Reports $510 Million Profit

Bikram Pandey
24 Feb, 2011
New York City

U.S. stocks rebounded from the lows as crude oil gained as much as 2% before retreating while Libya burned. Saudi officials said that the nation is ready to meet any shortfall in oil from Libya. GM reported first annual profit in the last six years and new home sales declined 12.6%.

U.S. Movers: Chico

Mukesh Buch
24 Feb, 2011
New York City

Fluor fourth quarter net earnings fell 21% to $117.1 million. GM reported fourth quarter net income $0.5 billion. Kohl''''s net income in the quarter climbed 14.4% to $493 million. Limited Brands quarterly net income rose 27% to $452.3 million. priceline.com net income rose 73% to $135.3 million.

UK Retail Sales Growth at 8-month Low; Centrica Net Surges

Arthi Gupta
24 Feb, 2011
New York City

The UK indexes rose on surging oil prices as an aftermath of the crisis brewing in Libya. The BoE policy maker David Miles urged restraint in hiking key interest rate. The UK retail sales growth decelerated in February and RBS swung to profit.

European Markets Drift Lower; Aegon, Allianz, RWE Slump

Arthi Gupta
24 Feb, 2011
New York City

The European indexes declined after unabated protests in Libya. Euro area economic sentiment improved in February and German economy expanded in the fourth quarter. French consumer confidence remained unchanged in February. Italy retail sales rose in December.

Libya Split Lifts Oil Again; U.S. Durable Goods Increased 2.7%

Arthi Gupta
24 Feb, 2011
New York City

World indexes fell after violence in Libya continued and crude oil price surged 21% in thirty days and rose to 30-month peak. Weekly jobless claims decline 22,000 and durable goods orders increased 2.7%.

Sensex in India Plunges 2.8% on Inflation Worries

Devan Biswas
24 Feb, 2011
New York City

Stocks in Mumbai plunged sharply after the latest data showed a stubborn inflation. International markets also declined after crude oil prices touched $100 a barrel, 30-month high. The Sensex dropped 2.8% and automakers, banks and capital goods makers led decliners.

Hang Seng in 4-day Slide; Shanghai Gains; Refiners, Shippers Fall

Devan Biswas
24 Feb, 2011
New York City

Stocks in Hong Kong declined for the fourth day in a row and in Shanghai rose. Shipping and port related companies traded lower in Hong Kong and oil refiners declined after crude oil surged to 30-month high. Hong Kong dollar gained. Suning Appliance Co surged 6% on 370 store openings in the year.

Nikkei in Japan Drops 1.2%; Tobu Plunges 12%

Nigel Thomas
24 Feb, 2011
New York City

Japan benchmark index declined for the third day in a row and nearly wiped out half the gains of the year as crude oil reached 30-month high. Overseas investors added Japan stocks for the 16th week in a row. Tobu, railroad operator plunged after it announced a plan to raise $1.1 billion.

Australian Dollar Edges Up, Investments to Expand 32%; Origin Energy Down

Marcus Jacob
24 Feb, 2011
New York City

Australian stocks closed lower tracking markets in Asia but the Australian dollar edged up after businesses investment is expected to increase 32% in the next financial year. Origin Energy declined after it lowered outlook. Pacific Brands fell 15% after it reported a loss.

Australian Stock Exchange Halted; QBE Net Declined 17%

Marcus Jacob
28 Feb, 2011
New York City

Australian stocks decreased and markets were halted in the last hour of trading on a computer glitch. QBE Insurance said full-year net decreased 17% and underlying profit margin declined to 15%. QR National swung to a first-half net profit of $278 million. Downer EDI plans to raise capital.

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