US oil companies see gains

New York markets were higher just after noon in light trade, with the Dow Jones Industrial Average 0.79 percent higher to 13,874.90, while the Nasdaq Composite had added 0.92 percent to 2,678.64 and the S&P 500 had gained 0.8 percent to 1,530.89. Software makers, the semiconductors sector and internet related shares saw gains. The oil sector was higher on oil prices that remained high.

Asia-Pacific equities markets were mixed but mostly lower Friday after worrying comments from US Federal Reserve chairman Ben Bernanke and former Fed chairman Alan Greenspan. The gainers included South Korea’s Kospi index, which added 0.54 percent to 1,919.26 and the Hang Seng index, which was 0.56 percent higher in Hong Kong. In India, the Sensex gained 1.32 percent to 16,564.23. Taiwan’s Taiex jumped 1.36 percent to 9,105.28. On the other hand, the Shanghai Composite dropped 0.28 percent to 5,454.67 and the Straits Times index was down 0.29 percent to 3,542.22. In Australia the Sydney Ordinaries fell 0.46 percent to 6,371.2, while the S&P/ASX200 was 0.56 percent lower to 6,357.9.

Tokyo’s markets were lower in limited trade ahead of another three-day weekend. The Nikkei 225 was down 0.62 percent to 16,312.61, while the Topix index fell 0.94 percent to 1,552.07 and the Mothers market was 0.37 percent lower to 625.93. Exporters such as carmakers and the electronics sector saw declines, while the consumer finance sector was down again. The oil sector and miners, however, were up on the session.

In Europe, equities markets managed gains, but not always enough to gain back Thursday’s losses. The FTSE Eurofirst 300 added 0.47 percent to 1,546.53. In Paris the CAC-40 gained 0.21 percent to 5,700.65, while Madrid’s IBEX was 0.22 percent higher to 14,459 and the Dax was 0.77 percent higher to 7,794.43 in Frankfurt. The steel sector was higher, as were carmakers and the pharmaceuticals sector. Banks were mixed, while drinks makers, utilities, and airlines saw declines.

London’s markets also saw gains, with the FTSE 100 up 0.43 percent to 6,456.7 and the FTSE 250 gaining 0.73 percent to 11,094.7. Banks, energy, and miners were all mixed on the day, while water utilities and retailers declined. Stock exchange operators, the oil sector and property developers were higher.

Story link: US oil companies see gains