ECONOMY & MARKETS

Technology stocks were mixed on Friday as a pair of video game related firms posted strong gains.

The FTSE 100 share index fell early on Friday. At 8:40am the index at fallen 38.1 points to 6,232.7 (down 0.6 per cent).

U.S. stocks fell on Friday, pushing the market to its first weekly drop in a month, as oil soared past $126 a barrel and metal producers retreated on concern the surge in commodity prices will end.

The FTSE 100 share index rose on Thursday following news that the Bank of England decided to keep interest rates at 5.0 per cent. The index was up 9.8 points to 6,270.8 by the end of the day (up 0.2 per cent).

Technology stocks rose on Thursday the day after AMD said it was on track with profitability goals.

Japan stocks declined Thursday as investors sold issues which gained recently for profit-taking. Also strong yen led investors sell export-oriented issues such as Toyota and Honda.

China's stocks rose the most in a week, led by energy companies and China Unicom, which will benefit from the coming restructuring of the telecom industry.

U.S. stocks rose on Thursday in the wake of higher gold prices and sales from retailers and media companies were higher than expected.

U.S stocks fell on Wednesday for the second day this week after reports showed home sales fell in March and oil prices remained in higher territory.

Tokyo stocks closed higher Wednesday as optimism over the U.S. economic outlook and the U.S. dollar's strength against the yen during a four-day holiday in Japan spurred buying.

Sensex, the prime index of the Bombay Stock Exchange (BSE) continued its downslide on Tuesday, declining 0.67 percent on profit booking as investors continued to remain wary of global market developments.

The FTSE 100 share index dropped marginally by 0.3 points to 6,215.2, on Tuesday.

U.S. stocks shifted higher on Tuesday, reversing earlier losses and pushing the Standard & Poor's 500 Index to a four-month high, after Fannie Mae calmed investors about its financial situation and oil companies rallied on record crude prices.

Both China's Shanghai and Shenzhen stock markets opened higher on Monday morning, boosted by Fed's cut of interest rates and China Securities Regulatory Commission (CSRC) Chairman Shang Fulin's requirement that institutions to maintain stability.

U.S. stocks fell as Yahoo dropped the most in almost two years after Microsoft Corp. abandoned its $50 billion bid for the company and Countrywide Financial Corp. tumbled on concern its suitor will abandon its pending takeover.

China 's stock market watchdog said on Sunday it had allowed local fund management companies to set up branches in Hong Kong, which will help national fund firms become more familiar with international financial rules.

Technology sector stocks fell on Friday despite a strong gain from Yahoo as shares of Sun Microsystems and Netsuite sank.

Demand for U.S. Treasury notes fell on Friday after an unexpectedly small decline in jobs reduced concern over a deep and prolonged recession, cutting demand for U.S. debt.

U.S. stocks retreated on Friday after Sun Microsystems Inc.'s disappointing results weighted on the technology sector and surging oil prices overshadowed a better-than-expected April jobs report.

U.S stocks picked up on Thursday following the release of mixed economic data, with the Nasdaq Composite leading the way up after Symantec Corp.'s strong earnings were announced.

Tokyo shares closed lower Wednesday as weakness in commodity-sector shares and a selloff of real estate stocks stalled a two-day rally, despite continued strength in financial stocks and gains at Matsushita Electric Industrial.

U.S. stocks rose on Wednesday as investors awaited the Federal Reserve's decision on interest rates and its assessment of the state of the economy, while consumer-products giant Proctor & Gamble Co. and automaker General Motors Corp. reported better-than-anticipated results.

China's A-share total net profit in 2007 reached 949.7 billion Yuan (135.7 US dollar), 49.86 percent higher than the prior year; the average earnings per share reached 0.42 Yuan, up 49.71 percent, according to the report of China Securities News Press on Tuesday.

Over 222 small and medium-sized public companies listed in China's Shenzhen Stock Exchange gained an average operating income by 308 million Yuan (44 US dollar) in the first quarter, up 35.32 percent than the same period of last year, Xinhua news agency reported on April 30.

Hong Kong's Hang Seng Index (HSI) Wednesday opened slightly higher by 84.12 points, or 0.32 percent, to reach 25998.27. The financial shares led the rise, such as the local banking stocks and Chinese-funded insurance stocks.

Shares of pharmaceutical giant Merck put pressure on the Dow, after losing 10 percent as the Food and Drug Administration rejected its cholesterol drug Cordaptive, one of the key drugs in its pipeline.

Treasuries rose on Monday in light trading as bond investors expected a Federal Reserve cut in the benchmark interest rate later in the week.

The dollar rose slightly against the euro and yen on Tuesday in Tokyo ahead of Wednesday's meeting of the Federal Open Market Committee.

U.S. stocks rose on Monday for the fourth day after billionaire Warren Buffett financed the $23 billion takeover of Wm. Wrigley Jr. by privately held mars, and investor Kirk Kerkorian bought a stake in Ford Motor Co.