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Analytics, News, and Forecasts for CFD Markets: stock news — 05-04-2012.
European stocks climbed in the final hour of trading, trimming a third week of losses for the Stoxx Europe 600 Index, as a rebound in commodity companies offset renewed concern about the euro area.
Spain’s 10-year bonds dropped for a third day, pushing the yield on the country’s benchmark debt seven basis points higher to 5.76 percent, after an International Monetary Fund spokesman said the nation is facing “severe” challenges.
Italy’s 10-year yield rose seven basis points to 5.44 percent today, with the spread over bunds widening 12 basis points to 370 basis points. France’s 10-year bonds also slid as borrowing costs increased when the nation sold 8.4 billion euros of debt.
National benchmark indexes fell in nine of the 15 western- European markets trading today. France’s CAC 40 Index (CAC) added 0.2 percent and the U.K.’s FTSE 100 Index gained 0.4 percent. Germany’s DAX Index lost 0.1 percent.
Markets in Denmark, Norway and Iceland were closed for a holiday today. All Western-European markets are closed tomorrow for the Good Friday holiday.
Copper climbed in New York for the first time in three days as reports showing an improving labor market and rising consumer confidence added to signs of recovery in the U.S., the world’s second-biggest consumer of the metal.
Glencore, the largest publicly traded commodity supplier, rallied 5.8 percent to 411.8 pence, leading a rebound in commodity stocks. Xstrata Plc jumped 3.5 percent to 1,112 pence, BHP Billiton Ltd. climbed 1.6 percent to 1,907 pence and Vedanta Resources Plc gained 2.1 percent to 1,235 pence.
Banks still retreated. UniCredit, Italy’s biggest lender, slid 3.1 percent to 3.31 euros. Banca Popolare di Milano Scarl lost 4 percent to 35.2 euro cents, Commerzbank AG declined 1.9 percent to 1.9 percent to 1.75 euros and BNP Paribas SA dropped 1 percent to 32.88 euros.
Merck KGaA dropped 1.8 percent to 83.40 euros. The German drugmaker was cut to neutral from outperform at Exane BNP Paribas.
U.S. stocks were little changed as renewed concern about Europe’s debt crisis offset a drop in jobless claims to a four-year low.
Equities trimmed early losses after Labor Department data showed unemployment claims in the U.S. fell 6,000 to 357,000 in the week ended March 31, the fewest since April 2008. The median forecast of 43 economists in a Bloomberg News survey estimated a decrease to 355,000. The number of people on unemployment benefit rolls also dropped, while those getting extended payments increased.
Stocks fell earlier as Spanish bonds declined for a third day today, pushing the spread between yields on 10-year Spanish and German debt to more than 400 basis points for the first time since Dec. 12.
Dow 13,060.22 -14.53 -0.11%, Nasdaq 3,081.00 +12.91 +0.42%, S&P 500 1,398.45 -0.51 -0.04%
The Morgan Stanley Cyclical Index lost 0.3 percent. Alcoa (АА) declined 1 percent to $9.71, while General Electric (GE) erased 0.9 percent to $19.56.
Constellation Brands Inc. plunged 13 percent, the most in the S&P 500, to $21.37. The world’s largest wine company said comparable earnings per share may be $1.93 to $2.03. Analysts projected profit of $2.23, the average of 12 estimates in a Bloomberg survey.
Polycom Inc., a maker of videoconferencing equipment, slumped 18 percent to $15 after saying preliminary first-quarter earnings and revenue fell short of analysts’ expectations.
Bed Bath & Beyond rose 9.2 percent to $72.29 for the biggest increase in the S&P 500. The retail-chain operator posted a fourth-quarter profit of $1.48 a share, beating the average analyst estimate of $1.32.
PPG Industries Inc. climbed 2.8 percent to $96.52. The world’s second-biggest paint maker reported first-quarter profit that exceeded analysts’ estimates on increased demand from the aerospace and automotive markets.
Resistance 3:1414 (Apr 3 high)
Resistance 2:1403 (МА (200) for Н1)
Resistance 1:1398 (session high)
Current price: 1392,00
Support 1:1384 (session low)
Support 2:1380 (Apr 23 low, МА (200) for Н4)
Support 3:1360 (МА (55) for D1)
U.S. stock futures fell as a decline in Spanish bonds boosted concern the euro area has yet to contain its debt crisis.
Global Stocks:
Nikkei 9,767.61 -52.38 -0.53%
Hang Seng 20,593 -197.98 -0.95%
Shanghai Composite 2,302.24 +39.45 +1.74%
FTSE 5,682.51 -21.26 -0.37%
CAC 3,296.92 -16.55 -0.50%
DAX 6,720.55 -63.51 -0.94%
Crude oil $101.48 (0.0%).
Gold $1624.80 (+0,7%).
Most Asian shares fell, with the regional benchmark index headed for its biggest two-day decline in a month, after Spain struggled to sell bonds, renewing concern Europe won’t be able to contain its debt crisis.
Nikkei 225 9,767.61 -52.38 -0.53%
Hang Seng 20,593 -197.98 -0.95%
S&P/ASX 200 4,319.85 -14.02 -0.32%
Shanghai Composite 2,302.24 +39.45 +1.74%
Hutchison Whampoa Ltd. and other companies that do business in Europe slid after demand fell at a Spanish government bond auction, sparking concern about the region’s sovereign-debt crisis.
Industrial & Commercial Bank of China Ltd. dropped 2 percent after Premier Wen Jiabao said China needs to break the “monopoly” of a few big lenders.
Soho China Ltd. rose 2.5 percent, leading gains among mainland developers after Credit Agricole SA said China is “almost guaranteed” to ease monetary policy further this month.
Asian stocks slid, with the benchmark index snapping a three-day winning streak amid market holidays across the region, after the Federal Reserve damped expectations for more monetary stimulus, sending commodity prices down and weighing on shares of resource companies. Shares extended declines after Japan’s Nikkei 225 Stock Average slipped below the key level of 10,000 for the first time in two weeks, triggering a deeper selloff.
Nikkei 225 9,819.99 -230.40 -2.29%
Hang Seng 20,790.98 +268.72 +1.31%
S&P/ASX 200 4,333.86 -3.17 -0.07%
Shanghai Composite Closed
BHP Billiton Ltd., Australia’s biggest oil producer, sank 1.5 percent in Sydney after crude prices fell.
Fast Retailing Co., Japan’s top clothier, plunged 5 percent after sales at its Uniqlo stores disappointed investors.
SK Telecom Co. slid 3.5 percent in Seoul after Posco sold shares of the mobile carrier at a discount.
European stocks fell for a second day after Spain sold fewer bonds than its maximum target and the Federal Reserve damped expectations of more monetary stimulus for the U.S.
Spain sold 2.6 billion euros ($3.4 billion) of bonds, near the minimum target, and borrowing costs rose in its first auction since the country said public debt will surge to a record this year. The Treasury had set a range of 2.5 billion euros to 3.5 billion euros for the sale.
The European Central Bank left its benchmark interest rate unchanged at a record low of 1 percent. The euro-area’s economic outlook remains subject to “downside risks,” President Mario Draghi said at a press conference in Frankfurt.
Euro-area retail sales declined 0.1 percent from January, when they rose a revised 1.1 percent, the European Union’s statistics office in Luxembourg said today. Euro-area services and manufacturing output contracted for a second month in March. A composite index based on a survey of purchasing managers in both industries dropped to 49.1 from 49.3 in February, London-based Markit Economics said today. That’s above an initial estimate of 48.7 on March 22. A reading below 50 indicates contraction. In Germany, factory orders rose 0.3 percent in February, the Economy Ministry in Berlin said today.
National benchmark indexes fell in all of the 18 western European markets, led by Sweden’s OMX 30 Index, which tumbled 3.6 percent. France’s CAC 40 Index dropped 2.8 percent, the U.K.’s FTSE 100 Index slipped 2.5 percent and Germany’s DAX Index retreated 3 percent.
Volvo lost 4.8 percent to 93.65 kronor after ACT Research said preliminary Class 8 truck orders in North America for March were 20,000 units, the second consecutive month that orders came in “below expectations.”
U.S. sales of cars and light trucks rose to a 14.4 million seasonally adjusted annual rate, falling short of the 14.5 million median estimate of analysts.
Peugeot SA plunged 5.6 percent to 10.80 euros, Renault SA slipped 4.5 percent to 37.27 euros, and Porsche SE retreated 2.3 percent to 43.50 euros.
BTG gained 2.6 percent to 347.10 pence after the company said sales for the year ended March 31 would reach as much as 195 million pounds ($309 million), more than previously forecast, because of higher-than-expected royalties from two drugs.
Ferrovial SA, Spain’s largest builder by market value, added 2.2 percent to 8.41 euros after Bank of America reiterated its buy recommendation on the shares and said Spain’s new tax rules won’t hurt the company.
U.S. stocks fell, with the Standard & Poor’s 500 Index posting this year’s second-biggest decline, as SanDisk Corp.’s lower forecast dragged down technology shares and the Federal Reserve signaled it may refrain from more monetary stimulus.
Stocks extended losses today after a report showed service industries in the U.S. expanded less than forecast in March as orders grew at the slowest pace in three months. The Institute for Supply Management’s non-manufacturing index dropped to 56 from a one-year high of 57.3 in February. Readings above 50 signal expansion, and economists projected 56.8 for the gauge, according to the median estimate.
Employment increased by 209,000 for the month after a revised 230,000 gain in February, figures from ADP Employer Services showed today.
Dow 13,074.75 -124.80 -0.95%, Nasdaq 3,068.09 -45.48 -1.46%, S&P 500 1,398.96 -14.42 -1.02%
Alcoa Inc. (АА) lost 2.5 percent, pacing declines among material companies, as investors sold shares of companies most- tied to the economy after a report on U.S. service industries missed estimates.
SanDisk sank 11 percent, the most in the S&P 500, to $44.51 after predicting revenue in the quarter that ended April 1 of about $1.2 billion. That compared with an earlier forecast for sales of $1.3 billion to $1.35 billion. Gross margin, a measure of profitability, will be less than the company’s previous prediction of 39 percent to 42 percent, SanDisk said.
Bank of America (ВАС) slumped 3.1 percent to $9.20 while JPMorgan (JPM) declined 2.2 percent to $44.41.
General Electric Co. (GE), the maker of jet engines, power generation equipment, health-care imaging equipment and locomotives, fell 1.1 percent to $19.74. Moody’s Investors Service cut its credit rating by two steps, citing “heightened risk” from the company’s finance unit.
Change % Change Last
Nikkei 225 9,819.99 -230.40 -2.29%
Hang Seng 20,790.98 +268.72 +1.31%
S&P/ASX 200 4,333.86 -3.17 -0.07%
Shanghai Composite Closed
FTSE 100 5,703.77 -134.57 -2.30%
CAC 40 3,313.47 -93.31 -2.74%
DAX 6,784.06 -198.22 -2.84%
Dow 13,074.75 -124.80 -0.95%
Nasdaq 3,068.09 -45.48 -1.46%
S&P 500 1,398.96 -14.42 -1.02%
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