Australia's Santos rose the most in three weeks and Cnooc jumped in Hong Kong. Mitsubishi Corp climbed after Deutsche Bank advised investors to buy shares in Japanese trading houses that invest and deal in commodities. JFE Holdings soared in Tokyo after the Nikkei newspaper said the steel maker is working to pass on rising costs. |
The MSCI Asia Pacific Index added 0.6 per cent to 143.21 as of 4:24 pm in Tokyo. About five stocks advanced for every three that retreated. |
Japan's Nikkei 225 Stock Average gained 0.6 per cent to 12,990.58. Australian stocks rose, led by Insurance Australia Group, after the company rejected a $7 billion takeover proposal from QBE Insurance Group. |
Infosys Technologies advanced after the company forecast sales growth to accelerate this year. |
Japan's J Front Retailing rallied after the department store operator forecast a higher net income. |
EUROPE European stock-index futures advanced, suggesting the Dow Jones Stoxx 600 Index will rise for the first time in six days. |
Royal Dutch Shell and Total may lead gains by energy producers on record oil prices. |
BP may climb after China bought shares in Europe's second-largest oil producer, while Repsol YPF will probably rally after oil was discovered at a Brazilian field in which it is a partner. |
Tesco , the UK's biggest supermarket company, may gain after profit beat analysts' estimates. ArcelorMittal may jump after Citigroup raised its price estimate for the stock 20 per cent on prospects of higher steel prices. |
Futures on Stoxx 50, a benchmark for the euro region, added 25 points, or 0.7 per cent, to 3,614 at 7:31 am in London. |
US US stocks fell yesterday on the slowest trading day of the year in New York after Wachovia Corp reported an unexpected first-quarter loss and Goldman Sachs Group predicted that more disappointing earnings will drive the market lower. |
Oil rose to a record as investors purchased futures contracts to hedge against the falling dollar. |
Crude oil for May delivery advanced as much as 0.6 per cent to a record $112.48 a barrel in New York on Tuesday. Yesterday, the futures added 1.5 per cent to $111.76, the highest close since trading began in 1983. |