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Share prices drop in South Korea

Storey Link: Share prices drop in South Korea

Stocks in Asia have slipped slightly as investors focus on the health of the global economy and lock in recent gains. The markets were recently stimulated by a decision by central banks to pump more cash into financial systems. Stocks in South Korea lost around one per cent but could rise again if Spain is awarded a bailout package and oil...

Japan Airlines shares surge on strong demand

Storey Link: Japan Airlines shares surge on strong demand

A return to the Tokyo Stock Exchange by Japan Airlines has seen a strong demand for shares, which have risen in value by 2.6 per cent. Nearly three years ago the flag carrier was forced to file for bankruptcy and was removed from the stock exchange. Shares were relisted at 3,790 yen and have since risen in value to 3,890 yen. The initial...

Shares up in Asia for the start of the third quarter

Storey Link: Shares up in Asia for the start of the third quarter

The start of the third quarter of the year has been greeted by a rise in share prices in Asia. The lift comes on the back of an agreement in Europe that leaders will shore up the zone’s banks. However, some early gains by the euro were lost as concerns persisted over the continuing debt crisis. Following a surge of 2.7 per cent on...

US charges UK twins over stock robot fraud

Storey Link: US charges UK twins over stock robot fraud

As reported by the BBC, twin brothers from the UK are facing US civil charges for supposedly swindling investors out of $1.2 million (£745,000) through a sham stock-picking robot. Thomas and Alexander Hunter, from Whitley Bay, North Tyneside, were just 16 when, in 2007, they invented the robot scheme, dubbed Marl, report US officials. The...

Libya re launches stock exchange

Storey Link: Libya re launches stock exchange

As reported by the BBC, Libya has re-launched its stock exchange for the first time since Colonel Muammar Gaddafi's regime fell. The exchange includes 10 firms, while the first day of trade was worth 3.9 billion Libyan dinars ($3 billion; £2 billion), said its general manager. Nearly all the nation’s publicly traded companies are...

Gap shares rise 7 per cent after February sales

Storey Link: Gap shares rise 7 per cent after February sales

As reported by the BBC, shares in clothing company Gap went up 7% after reporting strong sales for February. Abnormally warm weather has persuaded American shoppers and the company said its spring items have been selling very well. With sales growing 12%, the firm’s Banana Republic chain also had a particularly strong month. After a...

Apple market value exceeds 500bn for first time

Storey Link: Apple market value exceeds 500bn for first time

As reported by the BBC, Apple's stock market value finished above $500 billion for the first time, solidifying its position as the globe’s most valuable company. Only six American firms have ever reached a value of over $500 billion. In 2007, oil giant Exxon was worth this much, while Microsoft was temporarily worth $600 billion in...

10 per cent share fall at Essar Energy

Storey Link: 10 per cent share fall at Essar Energy

As reported by the BBC, India's Essar Energy shares have dropped by over 10% following the company’s reports of a post-tax loss for 2011. The firm saw a loss of $568 million for the calendar year, in comparison to its 2010 profit of $248 million. The company said 2011 had seen many challenges, with weaker refining margins and a lower...

Billabong shares surge with takeover bid

Storey Link: Billabong shares surge with takeover bid

As reported by the BBC, Billabong shares have gone up by over 60% as the firm announced a restructuring scheme after TPG Capital offered a takeover bid from. Billabong’s shares surged as much as A$2.93 (up from A$1.79) at the Australia Securities Exchange. The firm will sell off a stake of its Nixon brand, shut down unprofitable stores...

Hong Kong six session rally comes to an end while Shanghai reopens down

Storey Link: Hong Kong six session rally comes to an end while Shanghai reopens down

Hong Kong shares broke a winning streak of six sessions yesterday, dragged down by banks and developers for China, as investors made profits on recent outperformers at the same time all eyes remain on Greece debt-swap deal talks. As reported by Reuters, soft mainland markets that are back in trading after the week-long holiday for Chinese...