NOL

NOL down 2.1% at $1.85 as improvement in shipping group's latest operating data not able to boost sentiment amid broad market weakness. Rise in Apr volume (+34%), freight rates (+15%) suggests business has yet hit by fallout from Europe's debt problems, Morgan Stanley says slowing consumer demand in Europe will have greater impact from 2H10, but remains upbeat on NOL's prospects as impact will be offset by improving demand conditions in the US & fast growing emerging markets of Latin Am & Asia. But technicals show stock is still on downtrend