Global Markets overview 14/03/2011

U.S. Markets

U.S. stocks ended higher on Friday led by gains from oil refiners after the earthquake disrupted Japan's refining capacity and equipment makers advanced on expectations for increased demand from rebuilding efforts.

The Dow Jones industrial average rose 74.66 points, or 0.62 percent, at 12,059.27. The Standard & Poor's 500 Index added 10.81 points, or 0.83 percent, at 1,305.92. The Nasdaq Composite Index climbed 17.73 points, or 0.66 percent, at 2,718.75.

The earthquake measuring 8.9 on Richter scale devastated Japan, triggering a massive 12-foot tsunami that inundated the northern coastal region.

Among energy companies, Tesoro Corp. (NYSE:TSO) surged 8.45 percent to $24.51and Valero Energy Corp.(NYSE:VLO) climbed 6.31 percent to $27.98.

Among Dow components, 3M , Caterpillar and Alcoa gained more than 1percent, energy giants Exxon Mobil advanced 0.91 percent and Chevron advanced 0.86 percent.

AK Steel holding Corp. (NYSE:AKS) climbed 5.75 percent to $15.46 , Titanium Metals gained 4.29 percent and Fluor climbed 4.16 percent.

On the economic front, the Commerce Department reported that retail sales rose 1.0 percent in February, the largest gain since October and in line with expectations, while U.S. consumer sentiment fell to its lowest level in five months in early March as gas prices rose.

U.S. Futures

Futures on the S&P 500 are down 0.34 percent, futures on the Dow Jones Industrial Average are down 0.32 percent and Nasdaq100 futures are down 0.56 percent.

The euro advanced 0.39 percent to 1.3957 against the dollar and the yen declined 0.08 percent against the greenback. Crude oil futures plunged 2.13 percent to $99.01 a barrel and gold futures advanced 0.27percent.

European Markets

European stock markets mixed in early trade on Monday, as investors worried about impact of the devastating earthquake and tsunami in Japan on the global economy.

The Stoxx Europe 600 Index declined 0.17 percent to 274.94. DAX30 declined 69.54 points or 1 percent to 6,911.95, CAC 40 advanced 6.12 points or 0.16 percent 3,934.80 and the FTSE 100 gained 4.95 points or 0.08 percent to 5,833.62.

Swiss Reinsurance Co. plunged 3.92 percent and Munich Re declined 2.16 percent after AIR Worldwide said the industry may face claims of as much as 2.8 trillion yen, while shares of nuclear-reactor maker Areva SA plunged 7.83 percent.

Meanwhile, alternative energy stocks SolarWorld AG surged 12.89 percent and Vestas Wind Systems climbed 8.7 percent.

Asian Markets

Asian stock markets ended mixed on Monday, with the Nikkei recording its worst one-day performance in more than two years, while other markets edged up on back of demand for commodity related shares.

Tokyo shares plunged on Monday, led by declines from automakers, electronics firms and oil refiners after a powerful earthquake measuring 8.9 magnitude on Richter scale hit off Japan on last Friday. Nikkei slumped 6.18 percent or 633.94 points to 9,620.49.

The Friday quake devastated two cities in northwestern Japan and more than 1,000 people are feared killed, while 20,000 are still missing. More than 1,200 in Iwate prefecture and 20,000 in Miyagi prefecture are still awaiting rescue and relocation from the devastated region.

Shares of Tokyo Electric Power, Japan's biggest utility and operator of the Fukushima nuclear-power plant which suffered an explosion to its No. 3 reactor building after the earthquake, plunged 23.57 percent to 1,621 yen.

Among the auto makers, Toyota Motor plunged 7.92 percent to 3,310 yen and Nissan Motor slumped 9.52 percent to 722 yen, while Honda Motor declined 6.49 percent.

Hong Kong’s Hang Seng index advanced 96.10 points or 0.41 percent to 23,345.88 and Chinese Shanghai composite gained 0.17 percent or 5.11 points to 2,938.91. Coal producers China Shenhua Energy Co. gained 2.69 percent to HK$34.50 and China Coal Energy Co. advanced 1.57 percent to HK$11.64, while steel producer Citic Pacific Ltd. gained 4.78 percent to HK$21.90.

South Korean shares ended higher, led by gains from auto, steel and technology companies. Seoul composite advanced 15.69 points or 0.80 percent to 1,971.23. Hyundai Motor Co. advanced 1.6 percent and POSCO surged 8.32 percent.