BANGKOK – World stocks rose Wednesday as investors stayed calm in the face of a possible debt default by Greece to search for good deals in technology shares boosted by stunning results from Apple Inc.

Benchmark crude rose to nearly $99 per barrel while the dollar rose against the yen but fell against the euro.

European shares followed their Asian counterparts higher. Britain’s FTSE 100 rose 0.4 percent to 5,774.31. Germany’s DAX climbed 0.5 percent to 6,448.33 and France’s CAC-40 added 0.4 percent at 3,334.50.

After a session of slight losses Tuesday, Wall Street appeared headed for a higher opening. Dow Jones industrial futures rose 0.1 percent to 12,644 while S&P 500 futures added 0.2 percent to 1,314.40.

Asian stocks posted solid gains. The Nikkei 225 index in Tokyo rose 1.1 percent to close at 8,883.69. South Korea’s Kospi gained 0.1 percent to 1,952.23 and Australia’s S&P/ASX 200 added 1.1 percent to 4,271.30. Markets in Hong Kong, mainland China and Taiwan remained closed for Chinese New Year.

Japan’s powerhouse export sector got a lift from a moderation in the yen’s strength even as the country reported its first annual trade deficit since 1980. A strong yen, which hit multiple historic highs last year against the dollar, shrinks the value of overseas earnings when repatriated and makes Japanese products less competitive.

Honda Motor Corp. surged 3.8 percent. Mitsubishi Motor Corp. jumped 4.4 percent and Sony Corp. added 4.8 percent. Tire-maker Bridgestone Corp. added 4.2 percent.

Technology stocks were elevated after Apple Inc. reported earnings that sailed past analyst estimates. Apple said late Tuesday said it sold 37 million iPhones in the last three months of 2011, vastly exceeding estimates and propelling the company to record quarterly results.

That stellar performance reverberated throughout the global tech industry. South Korea’s LG Electronics Inc., which ranks No. 2 globally in flat screen televisions, jumped 4.1 percent. Hynix Semiconductor Inc., the world’s second-largest memory chip maker, added 1.9 percent.

In Australia, shares in Lynas Corp. Ltd. soared 5.1 percent after the company said it had secured the funding necessary to complete construction and start-up at its rare earths processing plant in Malaysia.

Stan Shamu of IG Markets in Melbourne said the gains in Asia suggested that investors were paying less attention to Greece, which is struggling to reach a deal with creditors to prevent a chaotic default on its massive debts. A default could trigger a financial crisis in Europe and likely beyond.

Greece is trying to get its creditors to swap Greek government bonds for new ones that have half the face value. Greece faces an important bond repayment deadline in March.

“To a large extent, traders are thinking that people are going to lose money either way in this deal, so it’s now about how we can move on,” Shamu said. Markets “are thinking more long-term. Encouraging data out of the U.S. has been good for sentiment. We also have China, which has been managing its economy very well.”

Benchmark oil for March delivery rose 8 cents to $99.03 per barrel in electronic trading on the New York Mercantile Exchange. The contract fell 63 cents to end at $98.95 per barrel on the Nymex on Tuesday.

In currency trading, the euro rose to $1.3031 from $1.3021 late Tuesday in New York. The dollar rose to 77.98 yen from 77.73 yen.

BANGKOK – Asian stocks rose Wednesday as investors stayed calm in the face of a possible debt default by Greece to search for good deals in technology shares boosted by stunning results from Apple Inc.

Japan’s Nikkei 225 index rose 1 percent to 8,870.22. South Korea’s Kospi gained 0.8 percent at 1,964.72 and Australia’s S&P ASX 200 added 1 percent to 4,268.70. Benchmarks in Singapore and New Zealand rose, while shares in the Philippines fell.

Markets in Hong Kong, mainland China and Taiwan remained closed for Chinese New Year.

Japan’s powerhouse export sector got a lift from a moderation in the yen’s strength even as the country reported its first annual trade deficit since 1980. A strong yen, which hit multiple historic highs last year against the dollar, shrinks the value of overseas earnings when repatriated and makes Japanese products less competitive.

Honda Motor Corp. rose 3.3 percent. Mitsubishi Motor Corp. jumped 4.4 percent and Sony Corp. added 3.1 percent. Tire-maker Bridgestone Corp. added 3.4 percent.

Technology stocks were elevated after Apple Inc. reported earnings that sailed past analyst estimates. Apple said late Tuesday said it sold 37 million iPhones in the last three months of 2011, vastly exceeding estimates and propelling the company to record quarterly results.

That stellar performance reverberated throughout the global tech industry. South Korea’s LG Electronics Inc., which ranks No. 2 globally in flat screen televisions, jumped 4.1 percent. Hynix Semiconductor Inc., the world’s second-largest memory chip maker, added 2.2 percent.

Stan Shamu of IG Markets in Melbourne said in an email that the gains in Asia suggested “investors are now starting to pay less attention” to Greece, which is struggling to reach a deal with creditors to prevent a chaotic default on its massive debts. A default could trigger a financial crisis in Europe and likely beyond.

Greece is trying to get its creditors to swap Greek government bonds for new ones that have half the face value. Greece faces an important bond repayment deadline in March.

The Dow Jones industrial average closed down 33 points at 12,676 on Tuesday. The Standard & Poor’s 500 lost a point to close at 1,315. The Nasdaq added two points to close at 2,787.

Benchmark oil for March delivery rose 35 cents to $99.26 per barrel in electronic trading on the New York Mercantile Exchange. The contract fell 63 cents to end at $98.95 per barrel on the Nymex on Tuesday.

In currency trading, the euro rose to $1.3026 from $1.3021 late Tuesday in New York. The dollar rose to 77.91 yen from 77.73 yen.

NEW YORK (Reuters) – Banks led Wall Street to gains on Thursday even as Europe struggled again, a sign investors are betting a relatively strong U.S. economy will help U.S. stocks outperform other markets.

Overall gains were small, but banks advanced for a third day, supported by better-than-expected economic data. U.S. financial shares continued to delink from their European peers as investors see more potential for growth in U.S. lending that could offset worries about the euro zone debt crisis.

The KBW bank index (.BKX) rose 2.2 percent, extending the week's advance to about 6 percent. Bank of America Corp (BAC.N) jumped 8.6 percent to $6.31.

"While you do have the European issues, the U.S. banks do have some offsets," said John Manley, the New York-based chief equity strategist at Wells Fargo Funds Management.

"There are signs of potential stability in the housing market and U.S. banks are probably being helped by that."

Traders initially focused on heavy losses in European bank shares, led by UniCredit (CRDI.MI). Italy's largest bank has lost more than 30 percent of its value this week after it priced a share offering meant to shore up its ravaged balance sheet.

Other European bank shares fell, and an index of the region's lenders (.SX7P) tumbled 3.24 percent.

But Manley warned that the problems that made bank stocks some of the worst performers last year still linger.

Bank stocks "can do well in the very long term, they are cheap stocks, but they are cheap for reasons that will not go away any time soon," he said.

The Dow Jones industrial average (.DJI) dipped 2.72 points, or 0.02 percent, to 12,415.70. The S&P 500 Index (.INX) gained 3.76 points, or 0.29 percent, to 1,281.05. The Nasdaq Composite (.IXIC) added 21.50 points, or 0.81 percent, to 2,669.86.

Data on Thursday pointed to a strengthening U.S. economy. More than twice the expected number of private sector jobs were added in December while initial jobless claims dropped 15,000 in the latest week. In addition, the pace of U.S. services growth quickened more than expected in December.

The S&P 500 closed above its 200-day moving average for a third straight day. It was the first time the index has been able to hold above the moving average that long in five months. But relatively low volumes could undermine the upbeat technical picture.

About 7.2 billion shares changed hands on the New York Stock Exchange, the Nasdaq and Amex, compared with last year's daily average of about 7.84 billion shares.

The Nasdaq was boosted by strength in technology shares. Marvell Technology Group (MRVL.O) gained 7.3 percent to $15.23 while Seagate Technology Plc (STX.O) was up 6.4 percent to $17.90.

Underscoring investor focus on home builder stocks, the PHLX housing sector index (.HGX) rose 2.3 percent.

The S&P retail index (.RLX) edged up 0.4 percent as December same store sales rose slightly more than expected, though discounts cut into profits over the holiday shopping season. Target Corp (TGT.N) fell 3 percent to $48.51 while Macy's Inc (M.N) added 3.9 percent to $33.92.

Dendreon Corp (DNDN.O) jumped 39.7 percent to $10.62 after its revenue jumped more than three-fold as sales of its prostate cancer vaccine took off.

Bookstore chain Barnes & Noble Inc (BKS.N) fell 17 percent to $11.24 after it said it may split off its Nook electronic reader business and cut its full-year earnings forecast.

Also on the downside, Tesoro Corp (TSO.N) tumbled 5.9 percent to $22.60 after it forecast a fourth-quarter loss. The warning sent shares of peers Valero Energy Corp (VLO.N) and Marathon Petroleum Corp (MPC.N) lower.

On the New York Stock Exchange about three issues advanced for every two that declined and on Nasdaq eight rose for every five that fell.

(Reporting by Rodrigo Campos; editing by Kenneth Barry)

NEW YORK (Reuters) – Stocks rose on Thursday led by bank shares as investors bet a stronger economy will help boost balance sheets of U.S. based lenders.

U.S. financial shares continued to delink from European peers, indicating investors were taking a closer look at the sector and finding bargains.

U.S. banks as measured by the KBW index (.BKX) posted their third day of gains, extending the week's advance to more than 6 percent. Bank of America Corp (BAC.N) jumped 7.4 percent to $6.24 and Wells Fargo & Co (WFC.N) gained 2.6 percent to $29.31.

The market opened lower as traders focused on heavy losses in European bank shares, led by UniCredit (CRDI.MI). Italy's largest bank by assets has lost more than 30 percent of its market value this week after it priced a share offering meant to shore up its ravaged balance sheet.

Other European banks followed suit, and an index of the region's lenders' shares (.SX7P) tumbled 3.2 percent.

"Maybe we are so far ahead of where European banks are in terms of our banks having sufficient capital it gave investors some comfort," said Peter Tuz, president of Chase Investment Counsel in Charlottesville, Virginia.

"It is a telling sign of the strength of the overall U.S. economy because they provide the raw material for businesses to grow."

Data continued to point to a strengthening U.S. economy. More than twice the expected number of private sector jobs were added in December while initial jobless claims dropped 15,000 in the latest week. In addition, the pace of U.S. services growth quickened more than expected in December.

The Dow Jones industrial average (.DJI) rose 17.03 points, or 0.14 percent, to 12,435.45. The S&P 500 Index (.INX) added 5.01 points, or 0.39 percent, to 1,282.31. The Nasdaq Composite (.IXIC) gained 22.97 points, or 0.87 percent, to 2,671.33.

Despite solid demand for a French government debt sale, investors fretted about more fragile economies, such as Italy and Spain. The euro, which has been closely correlated to global equities, fell to a 15-month low against the dollar.

The Nasdaq was boosted by strength in technology shares. Marvell Technology Group Ltd (MRVL.O) gained 6.6 percent to $15.12 while Seagate Technology Plc (STX.O) was up 5.3 percent to $17.71.

The S&P retail index (.RLX) edged up 0.2 percent as December sales rose, though discounts cut into profits over the holiday shopping season. Target Corp (TGT.N) fell 3.1 percent to $48.45 while Macy's Inc (M.N) added 3.6 percent to $33.82.

Dendreon Corp (DNDN.O) jumped 37.3 percent to $10.43 after its revenue jumped more than three-fold as sales of its prostate cancer vaccine took off.

Bookstore chain Barnes & Noble Inc (BKS.N) fell 18.3 percent to $11.07 after it said it may split off its Nook electronic reader business and cut its full-year earnings forecast.

Also on the downside, Tesoro Corp (TSO.N) tumbled 7 percent to $22.36 after it forecast a fourth-quarter loss. The warning sent shares of peers Valero Energy Corp (VLO.N) and Marathon Petroleum Corp (MPC.N) lower.

(Reporting by Rodrigo Campos; editing by Jeffrey Benkoe)

ROCHESTER, N.Y. – Eastman Kodak Co. has been warned by the New York Stock Exchange that its stock will be delisted if the price remains below $1 per share for the next six months, the ailing photography company said Tuesday.

The exchange put the company on notice after its shares’ average closing price was below $1 for 30 consecutive trading days.

Under NYSE rules, the Rochester, N.Y., company has six months to regain compliance with the minimum share price requirement. That means its stock must have a closing price of at least $1 a share on the last trading day of any calendar month during the period and must maintain that average over the previous 30 trading days or on the last day of the six months.

Kodak shares, which traded as high as $5.85 in the past year, closed at 65 cents Tuesday, up a penny, and slid nearly 4 percent in after-hours trading. The stock has not closed above $1 since Dec. 2. Shares have slid precipitously since the fall as Kodak, which has posted losses in six of the last seven years, seeks to avert a cash crunch by selling its digital-imaging patent portfolio. The photography pioneer, which has been reinventing itself as a digital imaging and printing company, warned in November that its survival over the next year hinges on an ability to sell its potentially lucrative patents or raise extra funds by selling debt.

PARIS (Reuters) – European stocks ended higher in their first trading session of the year on Monday, led by defensive utilities such as E.ON (EONGn.DE) and GDF Suez (GSZ.PA), while volumes were anaemic as UK and U.S. markets remained closed for the New Year holiday.

The FTSEurofirst 300 (.FTEU3) index of top European shares provisionally closed 1 percent higher at 1,011.14 points, the index's highest close in two months, with investors shrugging off gloomy data from the euro zone showing the region's manufacturing activity declining for a fifth straight month in December.

A number of traders and analysts, however, warned about the risk of hangover from the brisk two-week Christmas rally when most investors come back to work later in the week.

"The odds for a post-party headache will indeed be high," Saxo Bank trading advisor Didier Abbato said. "The bad news is that Santa did not deliver on a quick fix solution to Europe's financial troubles."

The STOXX 600 utility index (.SX6P), one of the worst performers among European sectors in 2011 with a loss of 17 percent for the year, paced the gains on Monday, up 2.2 percent,

with E.ON up 4.2 percent and GDF Suez up 2.9 percent.

(Reporting by Blaise Robinson, Editing by Caroline Jacobs)

LONDON (Reuters) – European shares made a positive start to the New Year as they extended a two-week rebound in thin trade on Monday, with automotive stocks and euro zone banks leading the charge.

At 1216 GMT the FTSEurofirst 300 index of European shares was up 0.6 percent at 1006.07, breaking above the full retracement level of the December7-Dec 19 fall.

Volumes on the index registered a slight pick-up from last week's lows but remained thin at 37 percent of the 90-day average as the British and United States markets were closed.

With many fund managers still on holiday, equity markets were driven by short-term trades into sectors enjoying technical rebounds, such as automotives (.SXAP), euro zone banks (.SX7E) utilities (.SX4P) and insurers (.SXIP).

"People are looking for underperformers and rotating sectors every few days," a trader said.

"They're scared and keep their finger ready: if the market inches up, they buy, if it moves down, they don't."

Auto stocks were the top performers as they gained 1.9 percent after breaking above their 200-day moving average at the open, with tire makers Continental (CONG.DE) and Nokian Renkaat (NRE1V.HE) rising 4.7 percent and 2.4 percent, respectively.

The insurance and utilities sectors also outperformed as they broke above the 50 percent retracement of the November sell-off.

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Asset returns in 2011: http://r.reuters.com/suz52s

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EURO ZONE

Euro zone banks rose 1.2 percent after closing above the 38.2 percent Fibonacci retracement level of the November move on Friday.

Natixis argued current valuations on euro zone banks provided a "major buying opportunity," arguing the region's leaders would not allow any default by a large country and the European Central Bank is providing adequate liquidity support to lenders.

"A default by a large euro zone country and/or its withdrawal from the euro is a virtually zero probability event," Natixis said in a note.

"As this event would have catastrophic consequences (on the rest of Europe), there are grounds to think that it will not occur."

The comments came as Greece's central governor warned that exiting the euro would have disastrous consequence for his country and the Greek government reaffirmed its belief that a return to the drachma can be avoided if reforms are implemented.

Natixis also noted euro zone banks have started to reduce their exposure to troubled sovereign debt other than domestic paper, and are working to increase profitability to meet stricter capital requirements.

Around Europe, Germany's Xetra Dax (.GDAXI) and Italy's FTSE Mib outperformed, as they rose 1.9 percent and 1.5 percent respectively, helped by better-than-expected manufacturing data.

Italy's and Germany's PMIs for December were unexpectedly revised up on Friday, while the euro zone reading was kept unchanged at 46.9, pointing to a slowdown in the rate at which the area's manufacturing activity is shrinking.

(Editing by David Cowell)

LONDON (Reuters) – European shares inched higher on Monday with trading light due to British markets being shut and gains expected to be limited as worries about the euro zone debt crisis remained.

Traders said worries about debt raising in Italy, which is at the centre of the region's crisis, in the first part of the year would likely to cap gains going into the New Year.

Italy needs to raise 450 billion euros in debt markets in 2012 and with ten-year Italian yields above 7 percent – a level considered unsustainable – investors are unlikely to pile back into the market in a hurry.

"It is very low volume, and I think it is going to be a pretty tough year ahead," Mark Priest, senior trader at ETX Capital, said.

"We have had nothing but doom and gloom. Italy has a whole tranche of debt to repay and that could have a significant knock-on effect for Europe if they do not do well."

Spain could be dragged back into the centre of the euro zone debt crisis after its new government said on Friday that this year's budget deficit would be much larger than expected and announced a slew of surprise tax hikes and wage freezes.

Utility stocks featured amongst the top performers, with E.ON (EONGn.DE) and RWE (RWEG.DE) rising 1.5 percent and 1.2 percent respectively as investors stuck to companies which are considered safe havens in economically tough times.

By 0916 GMT, the pan-European FTSEurofirst 300 (.FTEU3) index of top shares was up 0.3 percent at 1,004.34 points after recording their biggest annual drop since 2008 on Friday for the last day of the trading year.

Traders also said with major markets such as Britain being closed for a bank holiday and volumes light, movements were likely to be exaggerated throughout the day.

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Asset returns in 2011: http://r.reuters.com/suz52s

Sector performance in 2011: http://link.reuters.com/wuv75s

Debt crisis in graphics: http://r.reuters.com/hyb65p

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Economic data also showed a grim picture of the euro zone's ability to weather the region's debt crisis, with the region's manufacturing activity declining for a fifth consecutive month in December, although at a slightly slower rate than November.

Sunday marked the 10th anniversary of the introduction of euro notes and coins and policymakers urged governments in the region to follow a tough savings course in 2012 to overcome the debt crisis.

(Reporting by Joanne Frearson; Editing by Mike Nesbit)

LONDON (Reuters) – European shares edged higher on Monday after making their biggest annual fall since 2008, with trading light due to British markets being shut for a bank holiday and defensive safe haven stocks the main performers on the index.

Utility stocks were the top performers, with E.ON (EONGn.DE) and RWE (RWEG.DE) rising 1.3 percent and 1.1 percent respectively.

"It is very low volume, and I think it is going to be a pretty tough year ahead," Mark Priest, senior trader at ETX Capital, said.

"We have had nothing but doom and gloom. Italy has a whole tranche of debt to repay and that could have a significant knock effect for Europe if they do not do well."

By 0809 GMT, the pan-European FTSEurofirst 300 (.FTEU3) index of top shares was up 0.2 percent at 1,003.80 points after recording their biggest annual drop since 2008 on Friday for the last day of the trading year.

(Reporting by Joanne Frearson)

FORT WORTH, Texas – American Airlines’ parent company, which filed for bankruptcy protection last month, said Thursday that its stock will be dropped from the New York Stock Exchange.

The shares will stop trading on the NYSE before the opening bell next Thursday. The delisting includes AMR common stock and some company-issued notes.

AMR Corp. said that the NYSE notified the Fort Worth, Texas, company of the move after the average closing price of AMR shares fell below $1 for 30 straight trading days.

The shares closed at $1.62 the day before the Nov. 29 bankruptcy filing and fell to 26 cents that day. They closed Thursday down 3 cents at 52 cents, and sank another 21 cents, or 40 percent, to 30 cents in after-hours trading.

The company said that because of its Chapter 11 filing, it could not try to “cure” the weakness in its share price, and would not oppose the delisting.

AMR expects that the shares will trade on the over-the-counter bulletin board and pink-sheets electronic trading as soon as next Thursday under a new ticker symbol, not the familiar “AMR.”

AMR noted that in most Chapter 11 bankruptcy cases, stockholders get little or nothing for their shares.

AMR filed for Chapter 11 bankruptcy protection after posting about $11 billion in losses since 2001. AMR shares had fallen 79 percent this year before the bankruptcy filing.

American hopes to reduce debt and cut labor costs in the bankruptcy process, then emerge as a slightly smaller but tougher competitor for United and Delta, the world’s two biggest airlines.

American has promised passengers that it will operate normally while in bankruptcy. A judge in New York has granted the airline permission to keep paying for fuel, labor, new planes and other key expenses to keep flying.

AMR also owns the American Eagle regional airline, which it had planned to spin off or sell. Those plans are on hold.