Feb 11
15
In Asia, crude oil for March delivery is trading 34 cents higher at $85.15 per barrel.
Australian and Asian Market Report 15th February 2011
Asian markets are trading mostly higher this morning, after China’s inflation unexpectedly slowed in January. In Japan, auto makers, Honda Motor and Nissan Motor, paced gains, benefiting from a weaker yen. Miners, Sumitomo Metal Mining and Mitsubishi Materials, traded higher, tracking yesterday’s higher metal prices. GS Yuasa gained values, after the company boosted its profit forecast. In Hong Kong, China Overseas Land & Investment lost values, after the State Information Center indicated that China might further increase interest rates in the first quarter, while Ausnutria Dairy traded in negative territory, after forecasting lower profit. In South Korea, Hana Financial Group paced gains, after Nomura Holdings upgraded the stock to “Buy” from “Neutral”, while KCC traded higher, after Hana Daetoo Securities increased its price estimate on the stock. Nikkei 225 index is trading 0.3% higher, at 10,757.1. Hang Seng index is down 0.6% at 22,989.6, while the Kospi index is trading 0.4% higher at 2,022.9.
International Market Report 15th February 2011
US markets ended mostly higher yesterday, with the S&P 500 index almost touching its 32-month high, as miners and oil producers recorded gains. Miners, Cliffs Natural Resources, Freeport-McMoRan Copper & Gold and Alcoa, climbed between 1.3% and 5.9%, as base metal prices rallied after Chinese import figures suggested strong demand for basic materials. General Electric gained 0.8%, after the company agreed to acquire the well-support division of UK oil services company, John Wood Group for $2.8 billion. Oil producers and services, Denbury Resources, Exxon Mobil and Schlumberger, gained between 2.0% and 5.4%, boosted by a deal in the oil-services sector and a rise in brent crude prices. However, gains were restricted by losses in retailers, with Walmart Stores down 1.6%, after JPMorgan Chase downgraded the stock to “Neutral”. DJIA dropped marginally to close at 12,268.2. NASDAQ was up 0.3%, at 2,817.2. S&P 500 index closed 0.2% higher, at 1,332.3.
Other European markets finished mostly higher yesterday, as market sentiments were buoyed, after reports showed smaller-than-estimated contraction in Japan’s economy and China’s import data pointed to strong demand for raw material, highlighting that global recovery would continue at a faster pace. Credit Suisse advanced 1.9%, after the bank announced the sale of coco bonds to boost its capital. Alcatel-Lucent jumped 2.2%, after the company reported strong results and an upbeat outlook. BASF gained 2.5%, after Citigroup named BASF among its most preferred stock. However, French automaker, Renault lost 1.4%, after the company indicated that its production in the country declined in 2010. FTSEurofirst 300 index climbed 0.3% to 1,177.9. German DAX Xetra 30 rose 0.3% to 7,396.6. French CAC-40 lost 0.1% to settle at 4,096.6.
