Stocks news in brief

US stocks futures advance as S&P faces key test NEW YORK, Nov 18: US stock index futures rose on Friday after Europe's debt crisis drove heavy market losses this week, with the S&P 500 falling through important technical levels and possibly facing another key test of the strength. Selling on Thursday afternoon pushed the S&P 500 through a support level at around 1,230. The next key test will be whether the index can hold its 50-day moving average just above 1,200. S&P 500 futures were up 14.4 points but were above fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration of the contract. Dow Jones industrial average futures gained 111 points, and Nasdaq 100 futures rose 20.75 points. - Reuters Indian shares post biggest weekly fall in nearly 3-12 months MUMBAI, Nov 18: Indian shares fell 0.6 per cent on Friday, dragging the main index to its biggest weekly fall in nearly three and a half months, as fresh concerns about the European debt crisis compounded lingering worries over weak domestic growth and slow government decision making. The benchmark index fell 4.8 per cent for the week, its worst performance since the week ended Aug. 7. This was its third straight weekly decline. The main 30-share BSE index fell 90.20 points, or 0.55 per cent, to 16,371.51 points, its lowest close in six weeks. Eighteen of its components ended in the red. The benchmark is down 20.2 per cent in 2011 and is among the worst performing markets in the world. - Reuters Tokyo bourse braces for nervous week ahead TOKYO, Nov 18: Japanese shares will remain at the mercy of investor fears over eurozone debt next week, analysts said, having closed Friday at a nearly two-month low with a stronger yen denting exporters. Tokyo's Nikkei index has fallen in line with plummeting investor confidence in the eurozone, with Spain facing high borrowing costs ahead of general elections. A high yen hurts Japan's export-led economy and has weighed heavily on Japanese shares. In the week to November 18, the benchmark Nikkei 225 index at the Tokyo Stock Exchange fell 1.64 per cent, or 139.56 points, to 8,374.91. - AFP China shares end down 1.9pc at 4-week low SHANGHAI, Nov 18: China's main stock index ended down 1.9 per cent on Friday, the lowest level since late October, dragged down by property shares after official data showed that country's average home prices fell in October for the first time this year. The benchmark Shanghai Composite Index closed at 2,416.6 points, after a 0.2 per cent drop on Thursday. It declined 2.6 per cent this week, while the property sub-index dropped 2.0 per cent. - Reuters Hong Kong stocks close 1.73pc lower HONG KONG, Nov 18: Hong Kong stocks fell 1.73 per cent on Friday as European sovereign debt fears deepened after the cost of borrowing for Spain and France surged, while Shanghai also finished lower. The benchmark Hang Seng index lost 326.24 points to 18,491.23 on turnover of HK$52.95 billion ($6.80 billion). Insurer Ping An fell 5.1 per cent to HK$54.5, Bank of Communications dropped 3.9 per cent to HK$5.21 and Bank of China was down 3.0 per cent at HK$2.56. Developer China Overseas Land lost 5.2 per cent to HK$12.38 while China Resources Land slipped 4.0 per cent to HK$10.70. - AFP French stock index falls below 3,000 points PARIS, Nov 18: The main French CAC 40 stock index fell 0.74 per cent in early trading on Friday, sliding below the level of 3,000 points. Traders said that there was heavy selling pressure on concern that the effects of the eurozone debt crisis are spreading. The CAC 40 index shed 23.17 points to 2,987.12 points. On Thursday the index fell by 1.78 per cent, as tension on the eurozone bond market rose. - AFP Australia shares dip 1.9 pc on resources, banks SYDNEY, Nov 18: Australian shares fell 1.9 per cent to a two-week low on Friday, hurt by weak commodity prices and as worries about European debt contagion intensified, pushing investors to cut back on riskier assets. For the week, the index dropped 2.5 per cent marking its sharpest weekly fall in nearly two months Miners and financials led losses. BHP Billiton falling 2.5 per cent and Rio Tinto slipping 1.5 per cent. National Australia Bank led top banks lower, dropping 3.6 per cent. The top four banks borrow about $100 billion annually, largely from Europe and America to bridge the gap between total loans and deposits. The benchmark S&PASX 200 index fell 81.23 points to 4,177, according to latest available data. All but 24 shares in the 200 stock index were negative. - Reuters