Stock Market News Page 10

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...

As reported by the BBC, carmaker Volkswagen’s annual profits have doubled after the firm sold a record amount of vehicles in 2011. The company announced a net profit of 15.8 billion euros for 2011, compared with 2010’s figure of 7.2 billion euros. The firm delivered over 8.2 million vehicles, a rise of almost 15% from 2010. Volkswagen...

As reported by the BBC, Australian surf gear maker Billabong has declined a takeover bid from TPG Capital, saying it is still in talks with the investment group. TPG had offered 765 million Australian dollars (A$3 per share), which Billabong called too low. Billabong has watched its fortunes shrink in recent years thanks to falling global...

As reported by the BBC, financial markets have shown a mixed reaction on the announcement of another bailout package for Greece. New York’s Dow Jones briefly exceeded the 13,000 mark before ending nearly flat, while markets in Frankfurt, London and Paris all dropped slightly. The euro was changed very little from Monday's ending price....

As reported by the BBC, European stock markets ended favourably before a conference of eurozone finance ministers which is expected to settle a new rescue plan for Greece. Cash-strapped Athens must decide on the 130 billion euro (£110bn; $170bn) bailout package before mid-March to dodge a default on its debts. Britain’s FTSE 100 went up...

As reported by Renew Economy, shares in the two largest solar energy firms jumped drastically last week following suggestions that 2012 sales would be stronger than previously forecast. Suntech, the globe’s largets maker of silicon solar panels, went up by 14% on Friday to $3.85 on the Nasdaq. Suntech said it had expected 2011 shipments...

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...

As reported by the BBC, for the first time ever, shares in technology firm Apple have exceeded $500 per stake. This marks an astonishing turnaround for the company, whose shares were in 1997 worth as low as $3.19, when it confronted the possibility of bankruptcy. The firm is now worth $460 billion. The firm’s revival by Steve Jobs, who...

As reported by the BBC, Japanese camera-maker Olympus has announced a loss in profits during the nine months before 31 December 2011, while it still disputes an accounting scandal. The company saw a 33.09 billion yen loss during the period, which compares to the 5.84 billion yen profit during the same period in 2010. Olympus has confessed...

Carmaker Toyota has raised its annual profits forecast, stating its recovery is on target following the blow of the Japanese tsunami, the strong yen and Thai floods. The company made a 80.9 billion yen profit ($1.05 billion; £660 million) between October - December, a drop of 13.5%. However, it raised its yearly profit forecast to 200...