Women’s 100 champion at CWG tests positive

NEW DELHI: The Commonwealth Games Federation says women’s 100-meter champion Osayomi Oludamola of Nigeria has tested positive for doping.

Oludamola finished second in the 100 on Thursday but was awarded the gold medal when Sally Pearson of Australia was disqualified for a false start.

Commonwealth Games Federation President Mike Fennell says Oludamola has been notified of the positive test and has requested the testing of her “B” sample. AGENCIES

Oil eases below $77 as supplies weigh

LONDON: Oil eased to below $77 a barrel on Wednesday, falling from a two-week high, after a weekly industry report showed a surprise increase in U.S. crude inventories and European equities turned lower.

U.S. crude stockpiles rose by 1.7 million barrels, the American Petroleum Institute reported on Tuesday. European stocks fell after gaining in the previous six sessions.

U.S. crude fell 35 cents to $76.80 a barrel at 1028 GMT. It reached a two-week intraday high of $77.37 on Tuesday. Brent crude was down 18 cents to $76.47.

“From a fundamental point of view, another leg down is more likely than a strong price increase,” said Eugen Weinberg, analyst at Commerzbank in Frankfurt.

Traders will be looking to the weekly supply report from the U.S. government”s Energy Information Administration due at 1430 GMT (10:30 a.m. EDT) to see if the inventory build reported by the API is confirmed.

Inventories have risen in other industrialized countries. The International Energy Agency on Tuesday said stocks in OECD nations rose in May to equal 61 days of demand, up from 60.3 days at the end of April.

Bank shares lost ground in Europe on Wednesday on concern about stringent rules for the sector, but U.S. stock index futures pointed to a higher open for Wall Street.

Oil and U.S. equities have become more closely correlated this month. Investors often see the strength of equities as an indication of wider economic health and future demand for oil and energy.

Oil in New York was just below its 200-day moving average at $77.39, a level analysts who study past price moves to predict direction said needed to be breached for prices to rally further.

“The line to conquer for the bulls today will be the resistance of the 200-day moving average,” said Olivier Jakob of Petromatrix.

“We continue to believe that sustainability above $80 will be difficult until (there is) a true visible change in the fundamental data.”

KSE-100 Index gains 72 points

KARACHI: Stock prices at Karachi Stock Exchange (KSE) on Wednesday rose to their highest close in two months, buoyed by buying in the banking sector, especially in National Bank of Pakistan (NBP).

The Karachi Stock Exchange”s (KSE) benchmark 100-shareindex ended 0.72 percent, or 72.35 points, higher at 10,187.00, its highest close since May 14.

Volume rose to 121.26 million shares, compared with 67.97million shares traded on Tuesday.

Increased investors” interest kept the market in the positive territory throughout the day. NBP ended 4.99 percent higher at 68.54 rupees.

KSE-30 Index also gained 72 points to finish the day at 10,078 points.

KSE-100 Index surges to 9,304 points

Full Story And Original Content.TrendPK.com KARACHI: Fresh buying at the local equity market Monday pushed the benchmark KSE-100 Index by 237 points to close at 9304. The market opened with red numbers but latter buying by the financial institutions at lower level brought the Index up in the positive zone. The report of possible slashing of

Full Story And Original Content.TrendPK.com KARACHI: Fresh buying at the local equity market Monday pushed the benchmark KSE-100 Index by 237 points to close at 9304.
The market opened with red numbers but latter buying by the financial institutions at lower level brought the Index up in the positive zone. The report of possible slashing of [...]