Stock Markets

Drop in oil prices spurs US stocks

Drop in oil prices spurs US stocksWashington - US stocks advanced Friday as oil prices dropped and there was increasing speculation that investment bank Lehman Brothers might attract a major international buyer.

The shares of Lehman jumped 13 per cent after the Korea Investment Bank said it was considering an acquisition.

United Airlines parent company, UAL Corp, witnessed a 12 per cent increase in shares, as crude oil plunged 5.4 per cent - its lowest in four years, Bloomberg financial news agency reported. Crude tumbled 6.59 dollars a barrel, to 114.59 dollars, in New York.

Tokyo stocks open lower on oil price rise, stronger yen

Tokyo stocks open lower on oil price rise, stronger yenTokyo  - Tokyo stocks extended their losses Friday on the back of oil price rises and a stronger yen.

The Nikkei 225 Stock Average lost 85.5 points in morning trading, or 0.67 per cent, to trade at 12,666.71.

The broader Topix index of all first-section issues was also down 8.14 points, or 0.66 per cent, at 1,216.39.

Exporters were hurt by a weaker US dollar against the yen as a stronger yen makes Japanese products more expensive overseas.

US stocks edge higher on energy share jump

US stocks edge higher on energy share jumpWashington  - US stocks rose slightly Thursday on the back of energy company gains, as financial shares continued their steady fall on the week.

Chevron Corp and Exxon Mobil Corp led the rise after crude oil prices for October delivery surged 4.9 per cent to 121.23 dollars per barrel in New York trading.

US stocks edge higher on energy share jump

US stocks edge higher on energy share jump Washington  - US stocks rose slightly Thursday on the back of energy company gains, as financial shares continued their steady fall on the week.

Chevron Corp and Exxon Mobil Corp led the rise after crude oil prices for October delivery surged 4.9 per cent to 121.23 dollars per barrel in New York trading.

Pakistan rupee, stocks tumble on political instability

Karachi - Pakistan stocks and the rupee plunged on Thursday as uncertainties over the restoration of judges and the election of a new president continued to cloud the political scene, triggering selling pressure, traders said.

The benchmark KSE-100 Index fell by 2.7 per cent or 289 points to close at 10,236 as investors continued dumping blue-chip stocks, including some energy stocks like state-owned Oil and Gas Development Corp(OGDC).

"The procrastination in restoration of judges against the deadline is casting an uncertainty among investors," said trader Ateeq Ahmed at Capital One Equities.

India's Sensex falls nearly 3 per cent

New Delhi - India's benchmark Sensex index fell 2.96 per cent in trading Thursday on heavy selling by funds and investors.

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