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MarketScreener Homepage  >  Equities  >  Tokyo Stock Exchange  >  World Co., Ltd.    3612   JP3990210001

WORLD CO., LTD.

(3612)
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End-of-day quote. End-of-day quote Tokyo Stock Exchange - 11/26
1324 JPY   -0.97%
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Oil down 4 percent; U.S. stockpile data feeds glut warning

07/13/2016 | 06:00pm EST
A gas pump is seen hanging from the ceiling at a petrol station in Seoul

NEW YORK (Reuters) - Oil markets tumbled more than 4 percent on Wednesday, erasing most of the previous session's gain, as a raft of bearish U.S. inventory data heightened concerns about a global glut.

U.S. crude stockpiles fell less than expected last week, distillate inventories rose the most since January and gasoline stocks unexpectedly increased, the Energy Information Administration (EIA) said, painting an unusually weak demand picture during the traditionally busy summer driving season.

The EIA's report pressured prices in a market already bearish after world energy watchdog the International Energy Agency (IEA) warned of a global oil glut, saying surging crude stocks have pushed floating storage to seven-year highs.

"A surprising build in gasoline in the peak of U.S. driving season and a very large build in heating oil will set the tone for lower prices as we go forward," said Tariq Zahir, a trader in crude oil spreads at Tyche Capital Advisors in New York.

"The products markets will continue to put weakness in the energy complex."

Brent crude <LCOc1> settled down $2.21, or 4.6 percent, at $46.26 a barrel.

U.S. crude <CLc1> fell $2.05, or 4.4 percent, to close at $44.75.

On Tuesday, both Brent and WTI rose nearly 5 percent, their biggest daily gain since April, on short covering and technical buying a day after hitting two-month lows.

Refined oil products also slumped on Wednesday, stung by the EIA data. U.S. gasoline <RBc1> settled nearly 4 percent lower while heating oil <HOc1>, a proxy for ultra low sulfur diesel, dropped more than 5 percent.

The profit margin refiners get for diesel, known as the diesel crack <1HOc1-CLc1>, fell to a two-month low.

"(Stocks) are at such elevated levels, especially for products for which demand growth is slackening, that they remain a major dampener on oil prices," the IEA said.

The U.S. government's EIA said crude inventories <USOILC=ECI> fell 2.5 million barrels last week, less than a 3 million-barrel drop forecast in a Reuters poll.

Distillate stockpiles <USOILD=ECI>, which include diesel and heating oil, rose 4.1 million barrels, versus expectations of a 256,000-barrel increase, the EIA data showed.

Gasoline stocks <USOILG=ECI> rose unexpectedly by 1.2 million barrels, compared with a 432,000-barrel drop forecast. That came during the week of the July 4th holiday, typically the busiest U.S. driving period.

"Miles driven this July holiday were expected to be a record high and demand at the pump was expected to reflect that point," said Troy Vincent, analyst at New York-based crude cargo tracker Clipperdata. "It is continuing this trend of crude-glut-turned-gasoline-glut."

(This version of the story corrects second bullet to say EIA reported 2.5 million U.S. crude draw, not 2.2 million)

(Additional reporting by Karolin Schaps in LONDON; Editing by Marguerita Choy and Steve Orlofsky)

By Barani Krishnan


© Reuters 2016
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Financials
Sales 2021 188 B 1 806 M 1 806 M
Net income 2021 -6 000 M -57,6 M -57,6 M
Net Debt 2021 - - -
P/E ratio 2021 -7,43x
Yield 2021 4,43%
Capitalization 44 784 M 431 M 430 M
Capi. / Sales 2021 0,24x
Capi. / Sales 2022 0,22x
Nbr of Employees 9 683
Free-Float 71,0%
Chart WORLD CO., LTD.
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World Co., Ltd. Technical Analysis Chart | MarketScreener
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Technical analysis trends WORLD CO., LTD.
Short TermMid-TermLong Term
TrendsBearishNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 1
Average target price 1 900,00 JPY
Last Close Price 1 331,00 JPY
Spread / Highest target 42,7%
Spread / Average Target 42,7%
Spread / Lowest Target 42,7%
EPS Revisions
Managers
NameTitle
Nobuteru Suzuki President & Representative Director
Kenji Kamiyama Chairman
Satoshi Tomii Outside Director
Teiichi Takatsuki Director
Hitoshi Hatazaki Director
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