Nikkei jumps 2.8 pct as short-covering heats up

July 23 (Reuters) – Japan’s Nikkei surged 2.8 percent and was set to snap a five-day losing streak on Friday, boosted as worries about the results of European bank stress tests eased and by robust U.S. corporate earnings.

Short-covering helped buoy the benchmark Nikkei after it shed nearly 6 percent in the past five days, market players said, with the pace picking up in the afternoon amid thin trade.

Charts grew brighter as the Nikkei pulled away from oversold territory, with the benchmark’s slow stochastic — a measure of how oversold the market is and whether it is in a short-term up or down trend — edging higher after a bullish cross on Thursday.

But market players remained wary.

“This jump is mainly coming from short-covering, it’s not a move that will really lead the Nikkei sharply higher,” said Kenichi Hirano, operating officer at Tachibana Securities.

“But if we manage to close at this level, we may be set for more gains next week. And while it’s probably not good to be over-optimistic, I think the stress test results are unlikely to be that harsh.”

The benchmark Nikkei .N225 rose 251.98 points to 9,472.86, while the broader Topix rose 2.3 percent to 844.10.

Semiconductor related shares rose in the wake of gains by their U.S. peers on Thursday, with the Philadelphia Semiconductor Index .SOXX rising more than 3 percent.

Microsoft Corp (MSFT.O) also reported a 48 percent rise in quarterly profit after the bell, easily beating Wall Street forecasts, though it failed to match chipmaker Intel Corp’s (INTC.O) strong optimistic tone last week. [ID:nN21206486] [ID:nN12197658]

Chip-tester maker Advantest Corp (6857.T) rose 2.1 percent to 1,916 yen, chip equipment maker Tokyo Electron (8035.T) gained 3.6 percent to 4,695 yen, and stepper maker Nikon (7731.T) climbed 3.5 percent to 1,514 yen.

Seoul shares inch up led by shipyards, steelmakers

July 5 (Reuters) – Seoul shares edged up on Monday, snapping a four-session losing streak with gains led by shipyards and steelmakers such as STX Offshore & Shipbuilding (067250.KS) and POSCO (005490.KS).

The Korea Composite Stock Price Index (KOSPI) finished up 0.21 percent at 1,675.37 points.

(Reporting by Jungyoun Park; Editing by Jonathan Hopfner)

Mikel, Robben are new injury curse victims

The curse of the pre-World Cup injury struck again on Saturday when Nigeria midfielder John Obi Mikel was ruled out of the finals with a severely bruised ankle and Dutch winger Arjen Robben hurt his hamstring.

Mikel joined a casualty list which includes Chelsea team mates Michael Essien of Ghana, out with a knee injury, and Ivory Coast captain Didier Drogba who is a major doubt for the finals in South Africa which start on Friday due to a fractured elbow.

The trio of injuries mean the first finals to be held in Africa could be missing three of the continent’s best-known players.

Mikel, 23, was hurt on his first day back in full training following a knee problem.

“He had been complaining about a niggle in the ankle when we first arrived in South Africa but after training yesterday it really flared up,” said Nigerian Football Federation (NFF) spokesman Idah Peterside.

“He is not sure how it happened. It wasn’t a tackle with another player or anything like that.”

Elsewhere, former Chelsea winger Robben’s World Cup hopes will depend on the outcome of a scan after he was injured during Netherlands’s 6-1 friendly thrashing of Hungary.

Robben, who hobbled off two minutes from time, has not travelled to South Africa with the rest of the Dutch squad.

“My first thought was this can’t be true, the end of the final warm-up match, everyone is fit and then this,” said coach Bert van Marwijk.

“We now have to wait. I can replace Robben until 24 hours before our opening match but as long as there is hope he recovers in time he will stay in the squad.”

The Dutch open their campaign on June 14 against Denmark.

Japan go into the tournament on the back of a four-match losing streak and their problems deepened when defender Yasuyuki Konno was ruled out of the opening game against Cameroon on June 14 because of an injury to his right knee.

“He’s probably looking at two weeks (out). He is walking normally now but it’s best not to risk him for the first game,” said coach Takeshi Okada.

RESERVE INCLUDED

Last-minute preparations did not go to plan for holders Italy who, after losing 2-1 to Mexico on Thursday, could only manage a 1-1 draw against Switzerland, or Australia, beaten 3-1 by the U.S.

A mainly second-string Italian side included Andrea Cossu for the first half even though the midfielder is not in the official World Cup squad. Andrea Pirlo and Mauro Camoranesi could pull out through injury though.

Udinese midfielder Gokhan Inler scored for Switzerland in the 10th minute but Italy hit back five minutes later when striker Fabio Quagliarella looped in a header off the far post.

“It was an encouraging performance, we are getting better,” said Italy coach Marcello Lippi. “In South Africa we will continue our programme to try to recapture our shine and speed.”

Angelo Palombo went off clutching his knee and is due to have checks while fellow midfielder Claudio Marchisio has a minor calf problem.

Swiss midfielder Valon Behrami was substituted with a suspected groin problem.

Australia coach Pim Verbeek was concerned his team gave the ball away too much during their defeat.

“The organisation was not good, the first goal was a present … I think we need to keep the ball better as a team,” said Verbeek.

Striker Edson Buddle opened the scoring in the fourth minute with a well-placed drive.

Tim Cahill levelled for Australia on 19 minutes against the run of play but Buddle headed his second just after the half-hour and substitute Herculez Gomez sealed victory in time added on.

The U.S. play England in their World Cup opener on June 12 and Australia play Germany a day later.

FIFA organisers have also chosen Uzbekistan’s Ravshan Irmatov to referee the opening World Cup match between South Africa and Mexico at Soccer City in Johannesburg on Friday.

(Editing by Tony Jimenez. To query or comment on this story email sportsfeedback@thomsonreuters.com)

Jayhawks clinch share of Big 12 with win over OU

LAWRENCE, Kan. — Xavier Henry scored 18 of his 23 points in the first half and No. 1 Kansas clinched at least a share of its sixth straight Big 12 regular season title with an easy 81-68 victory over Oklahoma on Monday night.

Kansas (27-1, 13-0) didn’t wait to clinch its latest title, sewing it up with three games left after doing it in the final week the past three seasons. The Jayhawks overwhelmed overmatched Oklahoma (13-14, 4-9) from the start, building a 17-point lead in the first half and shooting 51 percent overall to extend the Sooners’ Lawrence losing streak to 10 games.

Sherron Collins added 17 points and joined fellow senior Brady Morningstar for their 124th win together, most all-time in Kansas’ storied history. The Jayhawks have won 13 straight games for their best start since opening 34-1 in 1996-97 and have the nation’s longest home winning streak at 58 games.

The latest win over Oklahoma _ now six straight overall _ gives Kansas six consecutive conference titles for the first time since claiming the Missouri Valley crown from 1922-27, when Phog Allen was the coach and not the name on the gym. The Jayhawks have won more conference titles than any other Division I program, 53 in all, and 10 of the 14 Big 12 championships since the conference’s inception in 1996.

Next up could be a piece of history: win its final three games and Kansas can join the 2002 Jayhawks as the only team to go through the Big 12 undefeated.

Tommy Mason-Griffin led the Sooners with 17 points and Andrew Fitzgerald had 16.

Henry led the way against Oklahoma.

The smooth-shooting lefty played like one of the top recruits in the country early in the season, setting a Kansas freshman debut record with 33 points and averaging a team-leading 17.2 points over the first 11 games. He then went into a funk, his scoring average dropping nearly eight points over the next 12 games, including a five-game stretch where he failed to reach double figures.

Henry returned to form against Iowa State two weeks ago, scoring 16 points, and followed that up with a 24-point effort against Colorado on Saturday.

His confidence clearly back, Henry was unstoppable in the first half against the Sooners, hitting 3-pointers and powering in the lane for three-point plays. He opened with a hard-driving and-one and didn’t hesitate to pull the string on jumpers, hitting all seven of his shots for 18 points by halftime.

Henry finished 9 of 13 from the field.

Stopping Henry wasn’t Oklahoma’s only problem.

Playing without leading scorer Willie Warren (ankle, illness) for the fifth time in nine games, the Sooners missed their first 11 shots and didn’t score until Fitzgerald hit a jumper from the free-throw line 6:34 in to trail 11-2. Oklahoma made a brief run late in the half, only to see Kansas pull away toward another title.

Copyright 2010 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Worst Brit footie team ends 90-match losing streak with victory!

London, Sept 16 (ANI): Harraby Athletic, the worst football team in Britain, has finally tasted victory – after a losing streak of 90 matches.

The side has been on a losing spree since three years and was badly mauled in a 19-0 match in 2006.

The team concedes 10 goals a game on an average and their goalie has seen the ball netted over 400 times in less than three seasons.

The under-14 squad celebrated their first win after beating Edenvale Hawks 3-2 at their home ground, Hammond’s Park.

Sky News quoted coach Brett Preston as saying: “Pure determination has got us there and their faces after the game meant everything.

“All week I’ve had other managers phoning me up to congratulate us on our achievement.

“When we lost our first game 19-0, it could have even been a higher score as the opposing manager tried to help us by swapping players around and telling them to ease off.

“They just couldn’t help scoring against us. Gradually over time, the scores have come down, but we’re always bottom of the table and we’ve never even won a friendly match.”

Harraby has only one point in the Longhorn Youth Football League after the opponents did not play the game.

It consists of players who are either playing for the first time or have been rejected by other teams.he coach said: “They know that if they leave, they might not get the chance of a game as they might not get into another team.”

However, Preston also praised the determination of his boys.

He said: “The boys have been prepared to stick at it and been willing to learn. They turn up for training in all weathers and really deserve a win at last.” (ANI)

Button launches into f-word rage rant over title bid

London, Aug.28 (ANI): Jenson Button launched into a furious f-word rant over his title bid last night.

The Formula One championship pacesetter was fuming after his desire to win the title was questioned, reports The Sun.

Asked to react to claims his recent form suggested he did not want to win the drivers’ crown, Button lost his rag.

The Brawn GP star, who has seen his lead cut to 18 points after four races without a victory, blasted:

“I don’t think people are saying that seriously. Who would possibly say that? Does Jenson want to win the title or not? It is a pretty silly question isn’t it?

“Why the f*** am I here? That is not a question is it? Does he want to win the title? No, I want to finish second or third. What I would like to do now is stand up and walk away, have a good weekend and then we will talk about it afterwards. When you have one bad race there are always silly questions.”

Earlier Red Bull rival Sebastian Vettel had pumped up the pressure on Button by telling him: You have gone off the boil!

The German ace, 22 reckons Button’s losing streak proves he is feeling the heat of the title battle.

He declared: “I am not giving up on the title.

Button has managed just 11 points in the last four grands prix, after winning six of the previous seven. (ANI)

Stock Market Trading Advice from Nirmal Bang Research

Asian stocks declined, dragging the regional benchmark index from a three? month high, on speculation companies will take advantage of a six? week rally to sell shares and shore up their finances. MSCI Asia Pacific Index has rallied 26 percent from a more than five? year low reached on March 9, taking valuations to the highest since November 2007. The Bank of Japan will probably cut its forecasts for the economy and prices next week as the recession takes a toll on spending by companies and households. The world’s second? largest economy will probably contract 4.2 percent in the year to March 2010, more than twice the pace the central bank projected three months ago, according to the median estimate of 16 economists surveyed by Bloomberg News.

The euro weakened to a one? month low against the dollar on concern policy disagreements within the European Central Bank will undermine efforts to help the region’s economy recover.

Orders for U. S. durable goods and home sales probably retreated in March after rebounding the previous month, showing any economic recovery will be slow to develop, economists said before reports this week. Combined sales of new and existing homes likely decreased to a 5.02 million annual rate, down from a 5.06 million pace in February.

Federal Reserve Chairman Ben S. Bernanke last week said the economy’s “sharp decline” may be slowing, and President Barack Obama cited “glimmers of hope” as the stimulus package and policy measures start to take hold.

Citigroup Inc., the U. S. bank rescued by $45 billion in U. S. taxpayer funds, ended a five? quarter losing streak with a $1.6 billion profit on trading gains and an accounting benefit for companies in distress. On a per? share basis, the bank reported an 18? cent loss because of costs related to preferred dividends. The first? quarter profit compared with a net loss of $5.11 billion, or $1.02 a share, a year earlier.

China’s 4 trillion yuan ($585 billion) stimulus plan has shown “betterthan? expected” results in reviving growth in the world’s third? largest economy and helped restore market confidence.

India postponed its largest auction of oil and gas fields on concern that the absence of a tax break for natural gas production will keep domestic and overseas bidders away. “The confusion over the tax holiday for gas continues and that needs to be resolved,” Oil Minister Murli Deora said by telephone today.

Rawat, Congress out to break 20-year jinx

It’s been two decades since former Uttarakhand PCC chief Harish Rawat won a Lok Sabha election. Coincidentally it was also 20 years ago that Congress won the Haridwar Lok Sabha seat.

In 2009, the fates of both Rawat and the Congress seem to be interlinked with the senior Congress leader getting the party high-command’s nod to contest from Haridwar. Almora, Rawat’s home constituency from where he won his last Lok Sabha battle in 1989, had become reserved following delimitation and hence he was shifted from the hills of Kumaon to the plains of Haridwar.

Between 1989 and now, Rawat has lost the Almora seat four consecutive times and in 2004 his wife Renuka too failed to win from there. Similarly, after 1989, when the Congress’s Jagpal Singh won from Haridwar, the party has failed to win favour of voters in the region.

Last year, after the end of his Rajya Sabha tenure, Rawat had surprised many by announcing his decision not to contest any election till 2010. But he is back in the fray and hopes to end his losing streak and revive Congress fortunes in Haridwar as well.

“I had decided to remain away from election due to adverse family circumstances. But now that the party has given me an opportunity, I have decided to take up the challenge,” he told HT. In his list of schemes for Haridwar, the Congress leader aims to achieve a synergy between agriculture and industrialisation while keeping in mind religious sentiments and traditions, develop new townships, improve education and strengthen rail, road and air connectivity.

“The BJP has failed to give attention to Haridwar’s issues in the past. My aim would be to realize the tremendous potential of the region as I understand the issues of this place very well,” he said.

Rawat doesn’t mind the ‘outsider’ tag given to him by his opponents and says it is a ploy used by the BJP and other parties like the BSP and Samajwadi Party because they have no issue to counter Congress. “I am a Pahari from Almora, but for the past 44 years, I have been involved in issues of other areas as well.

I am the most frequently seen politician in Haridwar, have visited almost every village and remained in touch with residents in the area for over three decades,” he said. Blaming his past losses from Almora on the BJP wave and the agitation for a separate state, Rawat is hopeful that after 20 years, he will be able to revive his electoral fortunes.