U.S. Stock Futures Little Changed on Greece

U.S. stock-index futures were little changed as investors waited for Greece’s politicians to accept spending cuts needed to secure financial aid and for the Federal Reserve chairman to testify before a Senate committee.

Anadarko Petroleum Corp. (APC), the largest independent U.S. oil and natural-gas producer, rose 1 percent in German trading after reporting fourth-quarter profit that beat estimates.

Yum! Brands Inc. (YUM), the owner of the KFC and Taco Bell fast-food chains, gained 1.8 percent in early New York trading after posting quarterly net income that gained 30 percent.

Regional markets to stay on growth track

The region’s stock markets are likely to continue last week’s rally this week, buoyed by robust global oil prices, better than expected US employment data for January and positive news flows from Europe which indicate the Eurozone sovereign debt crisis is manageable, analysts say.

“Investors are back in the market. In Saudi Arabia, the prevailing high oil prices and talk about the government allowing foreigners to buy and sell shares on its market are acting as catalysts, while in the UAE, the bank results, which were positive in the fourth quarter are the catalyst,” Samer Darwiche, Associate at Dubai-based Gulfmena Investments Ltd, told Gulf News by telephone.

European Stocks Are Little Changed; Xstrata Shares Jump on Glencore Talks

European (SXXP) stocks were little changed as Glencore International Plc’s talks to buy Xstrata Plc (XTA) boosted mining companies, offsetting declines at Royal Dutch Shell Plc (RDSA) and Unilever.

U.S. index futures were little changed, while Asian shares rose.

Xstrata jumped 10 percent after confirming that Glencore made an approach about an offer for the coal, copper and nickel miner.

Royal Dutch Shell Plc and BP Plc (BP/), Europe’s two biggest oil companies, fell more than 1 percent.

Unilever dropped 4 percent as the world’s second-largest consumer-goods maker posted revenue growth that missed analysts’ estimates.

European Stocks Decline on Ericsson, Novartis

European stocks fell for a second day after Ericsson AB and Novartis AG (NOVN) posted earnings that missed analysts’ estimates.

U.S. index futures retreated, while Asian shares climbed.

Ericsson, the world’s largest maker of wireless networks, plunged 14 percent after reporting fourth-quarter net income that missed analysts’ estimates.

Novartis, Europe’s biggest drugmaker by sales, declined 3.4 percent. ARM Holdings Plc (ARM) climbed 4.1 percent after Apple Inc.

posted quarterly profit that more than doubled.

The benchmark Stocks Europe 600 Index slipped 0.8 percent to 254.04 at 12:27 p.m. in London.

U.S. Stock Futures Slip on Lack of Debt-Swap Progress; InterDigital Sinks

U.S. stock-index futures slipped, indicating the Standard & Poor’s 500 Index may drop for the first day in six, after a meeting of euro-area finance chiefs finished without making progress on a debt-swap deal for Greece.

Inter Digital Inc. tumbled 17 percent in German trading as the owner of wireless-technology patents concluded a strategic review without a sale.

Texas Instruments Inc. (TXN) advanced 3.2 percent in German trading after the world’s largest maker of analog chips posted fourth-quarter sales and profit that declined less than analysts had estimated.

Futures on the S&P 500 expiring in March declined 0.5 percent to 1,304.4 at 6:47 a.m. in New York.

KSE index declines to five-month low

The Karachi Stock Exchange’s (KSE) benchmark 100 Index fell by another 21 points to five-month low on Thursday, mainly on speculative selling in select energy and banking stocks, as investors remained concerned over the rift among the state institutions, dealers said.

Lacklustre attitude of investors from all walks of lives kept the market ranged-bound with thin turnover, they added. The benchmark KSE-100 Index fell by 21.37 points, or 0.20 percent, to 10,909.12 points. The index remained locked in the red zone throughout the session. At a point, it fell by around 90 points to a low of 10,841 points.