Related News
Coal and oil giants lift Shanghai index
By Lydia Chen |
March 7, 2011, Monday
|
Online Edition
Online Edition
SHARES in Shanghai rallied this morning, lifting the key stock index near the 3,000-point mark on strength of rising big caps boosted by positive policies from the ongoing parliament meeting.
The Shanghai Composite Index closed 1.44 percent higher to 2,984.53. Turnover surged to 114.65 billion yuan (US$14.75 billion) from Friday morning's 68 billion yuan.
Coal and oil producers paced the increase among all shares amid worsening unrest in Libya and the Middle East.
China Shenhua Energy Co was the best performer in the market his morning with a jump of the daily cap of 10 percent to 28.37 yuan. Yanzhou Coal Mining surged 8.04 percent to 31.98 yuan.
Oil surged to the highest in 29 months in New York as unrest in Libya renewed concerns supply disruptions may spread. Crude for April delivery increased as much as US$1.50 to US$105.92 a barrel in electronic trading on the New York Mercantile Exchange, the highest intraday price since September 29, 2008.
The futures rose nearly 7 percent last week.
PetroChina, one of the biggest market heavyweights, was also buoyed by the surging oil price. The biggest Chinese oil producer gained 2.21 percent to 12.05 yuan.
The Shanghai Composite Index closed 1.44 percent higher to 2,984.53. Turnover surged to 114.65 billion yuan (US$14.75 billion) from Friday morning's 68 billion yuan.
Coal and oil producers paced the increase among all shares amid worsening unrest in Libya and the Middle East.
China Shenhua Energy Co was the best performer in the market his morning with a jump of the daily cap of 10 percent to 28.37 yuan. Yanzhou Coal Mining surged 8.04 percent to 31.98 yuan.
Oil surged to the highest in 29 months in New York as unrest in Libya renewed concerns supply disruptions may spread. Crude for April delivery increased as much as US$1.50 to US$105.92 a barrel in electronic trading on the New York Mercantile Exchange, the highest intraday price since September 29, 2008.
The futures rose nearly 7 percent last week.
PetroChina, one of the biggest market heavyweights, was also buoyed by the surging oil price. The biggest Chinese oil producer gained 2.21 percent to 12.05 yuan.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
