February 14, 2013 – Roundup of Global Stock Market News (Major World Markets)

LONDON – Stocks tumbled on Thursday at the London Stock Exchange as the FTSE-100 fell. Bad economic news from the Eurozone spilled over to the LSE with both the FTSE-100 and the FTSE-250 losing 0.5 percent as investor sentiments weakened.

Economic numbers are falling faster than “expected with France’s Q4 GDP falling 0.30% as opposed to the 0.20% expected, and Germany's Q4 GDP falling 0.60% compared to a consensus of 0.50%,” stated Angus Campbell, head of market analysis at Capital Spreads. “This knocked European indices right from the start of trading this morning”, he added.

Shares of oil services firm Amec plummeted after disappointing full-year results announcement. Another major ‘loser’ was cruise operator Carnival that dipped by 2.6 percent. Poorer than expected earnings announcements is the reason for this decline. The company, Carnival, attributed the lower profits to the cost of disruptions in cruises and the cost of repairs.

MANILA – Amidst quick profit taking by a flurry of investors, the Philippines Stock Exchange fell marginally by 0.22 percent, or 14.58 points, to close the day at 6,513.41 points. Most sectors receded on the trading day at the bourse, with the mining and oil sector suffering the most. It shed 1.64 percent to end at 22,234.42 points.

Coal miner Semirara Mining Corporation was the hardest hit, losing a massive 7.99 percent as news of a mishap in one if its coalmines caused its shares to plunge. Bucking the trend, the Industrial sector advanced 0.81 percent to 9,883.77 points and the Property sector moved up to 2,650.79 points, an increase of 0.04 percent, or 1.11 points from the previous day.[newsletter2][/newsletter2]

MUMBAI – Having plunged by 139.94 points, the BSE finished the day at 19,468.14 points. The banking and property sectors were the major losers on the day; only the energy sector proved an exception as energy firms Suzlon Energy Gained 2.69% and Petronet LNG gained 2.03%. Modest advances were also made by GAIL (India), which rose 1.97%, unlike some of the top decliners like LIC Housing Finance, Pantaloon Retail (India) or IFCI Ltd, which dropped more than 6% apiece.  

KARACHI – In another positive day for the Karachi Stock Exchange, the benchmark KSE-100 index moved up by 69.37 points to 17,765.82 points. The banking sector exhibited a favourable trend, led by MCB Bank. A similar trend was observed in the oil and gas sector. Major oil companies OGDC and PSO each surged by more than 1.4%. Earnings announcement from state-owned telecommunications firm PTCL drove its shares up to Rs 21.1 while Sui Northern Gas Pipelines stood out as somewhat of an exception, losing Rs 0.16 and ending at Rs 25.3 at the end of the day.