European shares were higher with investors reacting to corporate earnings and looking ahead to fresh sanctions against Russia.» Read More
*Caution on concerns of more sanctions against Russia. July 29- European shares steadied on Tuesday, with earnings reports from companies such as British engineer GKN offset by the threat to the region's economy from any more sanctions against Russia by the West.
LONDON— Energy company BP warned Tuesday that further international sanctions on Russia could hurt its profits because of its stake in the country's oil giant, Rosneft.
*BP results see muted reaction after Russia warning. EDINBURGH, July 29- European shares were unchanged on Tuesday, as encouraging corporate results were offset by the threat of economic fallout from more sanctions against Russia.
*BP the biggest foreign investor in Russia with Rosneft stake. LONDON, July 29- Oil and gas producer BP reported a sharp rise in second quarter profits on Tuesday but warned that further Western sanctions on Russia could harm its business there and its relationship with Russian state oil company Rosneft.
South Korea's Kospi posted its highest close since August 2011, rising 0.6 percent to 2,061.97. Hong Kong's Hang Seng added 0.7 percent to 24,592.52 and China's Shanghai Composite gained 0.2 percent to 2,183.19. Markets in India, Indonesia and Malaysia were closed for holidays.
BP PLC fell$. 28 or. 5 percent, to $50.64. ConocoPhillips fell$. 73 or. 8 percent, to $85.19. Marathon Oil Corp. fell$. 28 or. 7 percent, to $40.23.
The Fed meets for two days, starting Tuesday, and is widely expected to taper back its monthly bond buying program by another $10 billion to $25 billion - and do little else.
BP PLC fell$. 31 or. 6 percent, to $50.61. ConocoPhillips fell$. 31 or. 4 percent, to $85.62. Exxon Mobil Corp. rose$. 76 or. 7 percent, to $103.94.
BP PLC fell$. 35 or. 7 percent, to $50.57. ConocoPhillips fell$. 46 or. 5 percent, to $85.46. Exxon Mobil Corp. fell$. 01 or percent, to $103.17.
A crush of big cap earnings and arguably the most important economic reports until September make next week the busiest of the summer for markets.
HOUSTON, July 25- Exxon Mobil Corp is considering a multibillion-dollar plan to expand its Beaumont, Texas, refinery into the country's largest, the first major refining investment of the U.S. shale oil boom, people with knowledge of the deliberations said.
MOSCOW— Having for months dismissed Western sanctions on Russia as toothless, business leaders here are now afraid that the crash of the Malaysian jetliner will bring about an international isolation that will cause serious and lasting economic damage.
BP PLC rose$. 20 or. 4 percent, to $51.39. ConocoPhillips fell$. 51 or. 6 percent, to $86.25. Exxon Mobil Corp. rose$. 03 or percent, to $104.28.
HONG KONG, July 24- Throughout his career at China's biggest oil producer, Jiang Jiemin was careful to put politics before business, say colleagues who worked closely with the purged executive.
BP PLC rose$. 22 or. 4 percent, to $51.41. ConocoPhillips rose$. 05 or. 1 percent, to $86.81. Exxon Mobil Corp. rose$. 23 or. 2 percent, to $104.48.
BP PLC fell$. 21 or. 4 percent, to $50.98. ConocoPhillips fell$. 19 or. 2 percent, to $86.57. Exxon Mobil Corp. rose$. 04 or percent, to $104.29.
SEATTLE— Nothing spilled when three tanker cars in an oil train from North Dakota derailed at a rail yard early Thursday, but it alarmed environmentalists. "This is a warning of how dangerous this could be," said Kerry McHugh, communications director for the Washington Environmental Council.
*Bourse opening follows labour, mortgage, other reforms. DUBAI, July 24- Saudi Arabia's decision to open its stock market to foreign investors is part of an accelerating series of economic reforms that may culminate in the most far-reaching change yet: higher domestic energy prices.
*Europe has 2 million bpd excess oil refining capacity. LONDON, July 23- Europe is coming under increasing pressure to close oil refineries as chronic over-capacity hits processing margins, dragging down group profits and hitting share prices.
HOUSTON, July 23- U.S. oil and gas company Apache Corp told Reuters it is looking at ways to wring more cash out of its valuable mineral rights, as it and other energy companies face investor pressure to tap more profits from the North American shale boom.