More Saudi women take the lead with over 78,000 in senior roles, 551,000 business owners    Over 40,000 expatriates face legal procedures for regulatory enforcement    King Salman and Crown Prince donate SR70 million to National Charitable Campaign    World Bank estimates Lebanon needs $11 billion for economic recovery and reconstruction    Saudi Arabia reaffirms rejection of Palestinian displacement at OIC meeting    Russia accuses EU of 'dangerous geopolitical games' over rearmament plans    Powell: Fed in no rush to adjust policy amid Trump administration's economic shifts    France begins military withdrawal from Senegal    Al Shabab stuns 10-man Al Nassr with late equalizer; Al Hilal closes gap at the top    Grand Mosque receives record number of Umrah pilgrims on Wednesday    From scholarships to housing, college students struggle with the effects of Trump orders against DEI    Saudi taekwondo star Dunia Abu Talib wins IOC gender equality award for Asia    Jeddah launches test run of sea taxi, connecting 3 waterfront locations Fare ranges between SR25 and SR50, and operation from 3:30 pm to 1:30 am during Ramadan    How TikTok is nurturing Saudi Arabia's STEM scene to support Vision 2030 goals    Mitrović returns to boost Al Hilal ahead of crucial clashes, Savić sidelined    Kanté rescues Al Ittihad with last-gasp equalizer against Al Qadsiah    Real-life shipwreck story wins major book award    Islamic Arts Biennale celebrates Ramadan with 'Biennale Nights' in Jeddah    Nora Razian and Sabih Ahmed appointed artistic directors for 2026 Diriyah Contemporary Art Biennale    UK death rate 'reaches record low'    King Salman prays for peace and stability for Palestinians in Ramadan message King reaffirms Saudi Arabia's commitment to serving the Two Holy Mosques and pilgrims    Bollywood star Saif Ali Khan 'out of danger' after attack at home in Mumbai    Order vs. Morality: Lessons from New York's 1977 Blackout    India puts blockbuster Pakistani film on hold    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



World stocks eke out gains on hopes for ECB help
Published in Saudi Press Agency on 21 - 08 - 2012

Stocks were mixed Tuesday on renewed uncertainties over the European debt crisis, after a short-lived rally in Asia driven by the Chinese central bank's move to ease tight liquidity through open market operations, according to AP.
Early gains were supported by lingering hopes that the European Central Bank might buy bonds to help some European countries reduce their borrowing costs, though such speculation has been countered by denials by ECB officials of such plans, and signs from Germany that it opposes such moves.
In early European trading, the FTSE-100 index of leading British companies rose 0.6 percent to 5,859.03 while Germany's DAX advanced 0.7 percent to 7,079.46. France's CAC-40 climbed 0.8 percent to 3,509.79.
Wall Street looked set to open higher. Dow Jones industrial futures rose 0.2 percent to 13,256 while S&P 500 futures added 0.2 percent to 1,417.50.
Investors are looking for progress from Greek Prime Minister Antonis Samaras' visits this week to Germany and France, where he is expected to request an extension of Greece's deadline to meet fiscal targets as the country carries out painful reforms. Samaras also will meet with visiting Luxembourg Prime Minister Jean-Claude Juncker, who chairs the eurozone finance ministers' meetings, in Athens on Wednesday.
Benchmarks rose in Australia, Singapore, Taiwan and mainland China, buoyed by news the Chinese central bank had moved to ease funding shortages through money market operations. Shares fell back in Japan, South Korea and Hong Kong.
In China, the Shanghai Composite Index jumped 0.5 percent to 2,118.27, boosted also by reports Chongqing, a huge metropolis in southwestern China, plans to spend 1.7 trillion yuan ($236 billion) to upgrade its manufacturing sector.
The advance was mainly a "technical correction" following recent losses, said Zhang Jiuhui, an analyst at Great Wall Securities, based in Beijing.
"I expect the market to be unstable in the short term," Zhang said.
The slimness of the gains suggests the market could take a turn for the worse in coming days, said Linus Yip, a strategist with Shanghai Securities in Hong Kong.
"We are going into a critical time window," Yip said. "The momentum is not good enough to push the market to a higher level. The diminishing turnover suggests a retrenchment may be coming."
Japan's Nikkei 225 index traded in a narrow range, closing 0.2 percent lower at 9,156.92, while South Korea's Kospi gave up early gains, losing 0.2 percent to 1,943.22. Hong Kong's Hang Seng slipped marginally to 20,100.09, while Australia's S&P/ASX 200 added 0.4 percent to 4,383.40.
In China, the Shanghai Composite Index jumped 0.6 percent to 2,119.72 following reports Chongqing, a huge metropolis in southwestern China, plans to spend 1.7 trillion yuan ($236 billion) to upgrade its manufacturing sector.
Among individual stocks, Hong Kong-listed CNOOC Ltd., China's biggest offshore oil and gas producer, tumbled 3 percent after saying first-half profit fell 19 percent due to rising costs and a drop in production from an oil spill.
In Japan, heavy equipment makers fell. Hitachi Construction Machinery lost 3 percent and Komatsu Ltd. fell 2.8 percent.
Crude oil rose 77 cents to $96.74 per barrel in electronic trading on the New York Mercantile Exchange. The contract fell 4 cents to $95.97 per barrel in New York on Monday.
In currencies, the euro was trading at $1.2412, up from $1.2348 late Monday in New York. The dollar was nearly unchanged, at 79.42 yen from 79.43 yen.


Clic here to read the story from its source.