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Oil Futures Surge as Unrest in Libya Spreads, European Markets Fall

Bikram Pandey
21 Feb, 2011
New York City

Oil moved in focus as the popular uprising takes a serious turn in Libya, Yemen and Iran. Oil companies began to evacuate non-essential staff. Futures of crude oil surged as much as 4.8% and European indexes declined on the growing worries that supplies from Libya could be interrupted in the region.

BP, and India

Arthi Gupta
21 Feb, 2011
New York City

The UK indexes slid on civil unrest in Libya. Home prices surged 3.1% in February. BP inked $7.2 billion deal with India-based Reliance Industries. Diageo agreed to acquire Turkey-based Mey Icki for

German Business Confidence Improves, Carlsberg Net Falls 21%

Arthi Gupta
21 Feb, 2011
New York City

The European indexes fell on escalating unrest in the Middle East. Euro area private sector activity strengthened and German business confidence improved in February. Canada-based Nordion divested Belgian operations. Merck revenues rose and TNT net surged.

Sensex in India Rallies 1.1%; Gold, Silver Highs

Devan Biswas
21 Feb, 2011
New York City

Stocks in Mumbai surged on the expectations of growth oriented budget and higher incentives for export oriented industries. The Sensex index added 1.2% and gold rallied for the seventh day in a row. Steel Authority plans to invest $12 billion to build four overseas steel plants.

China Indexes Rise, Fuel Prices Hiked; Alibaba.com Chief Forced Out

Marcus Jacob
21 Feb, 2011
New York City

China indexes closed higher despite the increase in bank reserve ratios over the weekend. China lifted fuel prices for the first time in the year. Banks and airlines declined. The Shanghai index rose 1.1% and the Shenzhen benchmark index gained 2.1%.

Tokyo Stocks Gain 2% in 6-day Rally; Softbank Surges 5.5%

Nigel Thomas
21 Feb, 2011
New York City

Stocks in Japan advanced as tensions in the Mideast rise and central bankers and finance ministers struggle to devise scorecard to prevent next financial crisis. Stocks in Tokyo rose for the sixth day in a row. Softbank led the gainers after its China social networking affiliate plan a listing.

West Australia Agrees to Buy Seven; BlueScope Net Loss Doubles

Marcus Jacob
21 Feb, 2011
New York City

Stocks in Australia traded lower on the rising tensions in the Middle East and China increase reserve requirements. West Australia agreed to acquire Seven Group for $4.1 billion to create the largest locally based media company. Woodside net rose and BlueScope net loss doubled.

Third Weekly Gain in U.S. Indexes; G20 Meeting in Focus

Bikram Pandey
18 Feb, 2011
New York City

U.S. stocks closed higher for the third week in a row in a muted trading. Oil traded up after the Middle East unrest spreads to oil producing nations and bankers and finance ministers from G20 group of nations meet in Paris. Spain offers six more months to savings banks to raise capital or merge.

U.S. Movers: Apache, Campbell, Intuit, Revlon, Virgin Media

Mukesh Buch
18 Feb, 2011
New York City

Apache fourth quarter net income soared $670 million. Campbell second quarter net earnings fell 8% to $239 million. EOG Resources fourth quarter net income plunged 87% to $53.7 million. Nordstrom quarterly net income rose 35% to $232 million. Revlon fourth quarter net income rose to $296.2 million.

UK Retail Sales Up 1.9%, Home Loans Fall 11.3%; Rentokil Swings to Loss

Arthi Gupta
18 Feb, 2011
New York City

The UK indexes declined after mortgage lending plunged and retail sales exceeded expectations in January. The BoE Governor King reiterated that tackling global imbalances is the key for economic recovery. Anglo American profit surges and Rentokil swings to loss.

Spain Extends Deadline for Cajas; German Wholesale Inflation Rises

Arthi Gupta
18 Feb, 2011
New York City

The European indexes fell and Spain bowed to the pressures from savings banks. A rating agency lowered German banks subordinated debt and Euro-zone consumer confidence improved. German factory price inflation rose to a 2-year high. Spain offered more time to ailing savings banks to raise capital.

U.S. Indexes Flat; China Hikes Reserve Requirements

Arthi Gupta
18 Feb, 2011
New York City

U.S. indexes traded lower after China unexpectedly hiked the reserve requirement ratio. G20 nations finance ministers meet in Paris with Portugal and global economic imbalances in focus. Nordstrom agreed to buy HauteLook for as much as $180 million. Ford in a venture with Russia-based Sollers.

Sensex in India Drops 1.6%; Reliance, Bharti Airtel Fall

Devan Biswas
18 Feb, 2011
New York City

The benchmark Sensex index declined 1.6% after rising more than 4.5% in five days. The rally came to an abrupt halt as telecom license probe widen. Hindustan Lever led gainers in the index and telecom stocks Bharti Airtel and Reliance Communications declined.

India Movers: Essar Oil, Jain Irrigation, FAG Bearings, Thomas Cook

Mukesh Buch
18 Feb, 2011
New York City

Bank of Maharashtra soared 5% after Government of India decided to inject $70 million. FAG Bearings gained 3% after net profit increased 105%. Thomas Cook tumbled 8% after net declined 40%.

China Stocks 6-day Rally Halts; Agriculture Stocks Fall, Property Prices Rise

Marcus Jacob
18 Feb, 2011
New York City

Stocks in China fell after real estate prices increased in January from December. The persistent increase in prices stock speculation that another round of bank reserve ratios may start as early as next week. Agriculture stocks fell on the worries that drought may extend till the February.

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