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Analytics, News, and Forecasts for CFD Markets: stock news — 05-11-2012.
European stocks dropped by the most in two weeks after HSBC Holdings Plc (HSBA) and CGGVeritas reported earnings that disappointed investors and amid concern that Greece will struggle to get further aid.
HSBC lost 1.3 percent as Europe’s largest bank by value also said it will likely face criminal charges from U.S. anti- money laundering probes. CGGVeritas retreated 3.1 percent after third-quarter profit missed analyst estimates. PostNL (PNL) sank 11 percent after saying full-year earnings will be at the bottom half of forecasts and on concern the proposed sale of TNT Express NV (TNTE) may be held up by regulators.
The Stoxx Europe 600 Index fell 0.6 percent to 273.21 at the close of trading, its lowest level since Oct. 23.
Investors also await the outcome of tomorrow’s U.S. election between President Barack Obama and Republican challenger Mitt Romney.
National benchmark indexes declined in 15 of the 18 western European (SXXP) markets.
FTSE 100 5,841.98 -26.57 -0.45% CAC 40 3,452.99 -39.47 -1.13% DAX 7,327.32 -36.53 -0.50%
HSBC fell 1.3 percent to 618 pence in London, the biggest drop since Sept. 26, after reporting third-quarter underlying pretax profit of $5.04 billion, missing the $5.6 billion median estimate of analysts. The lender also said it’s likely to face criminal charges over allegations it broke U.S. anti-money laundering rules and that it set aside a further $800 million to cover the costs of the probe. The bank made a $700 million provision in July after a Senate committee found it had given terrorists and drug cartels access to the U.S. financial system.
CGGVeritas (GA), the world’s largest surveyor of oilfields, lost 3.1 percent to 24.51 euros after the company reported third- quarter net profit of $48 million, missing analyst estimates for $68 million. The shares fell even as the company confirmed its 2012 targets.
PostNL sank 11 percent to 2.77 euros, its lowest price in almost seven months, after the Dutch mail service company said full-year underlying cash operating income would be in the bottom half of a forecast of between 110 million euros ($140 million) and 160 million euros. The shares fell even as the company narrowed its third-quarter loss to 154 million euros.
Ryanair Holdings Plc (RYA) surged 5.8 percent to 4.81 euros in Dublin after Europe’s biggest discount airline reported a 23 percent jump in second-quarter net profit to 496.8 million euros.
The carrier also said annual earnings will be in the range of 490 million euros to 520 million euros.
Weir Group Plc (WEIR) advanced 4.5 percent to 1,831 pence. The world’s largest provider of pumps to mining companies predicted profit will grow at a double-digit pace this year and that net debt will fall by the end of December.
U.S. stock futures were little changed as Americans prepared to vote in presidential elections and on concern Greece will struggle to win a bailout.
Shares of Apple Inc. (AAPL) rose as it sold 3 million units of its iPad mini and fourth-generation iPad during the debut weekend. Company has said that demand for the smaller version of its tablet outstripped supply.
Global Stocks:
Nikkei 9,007.44 -43.78 -0.48%
Hang Seng 22,006.4 -104.93 -0.47%
Shanghai Composite 2,114.03 -3.02 -0.14%
FTSE 5,841.43 -27.12 -0.46%
CAC 3,463.61 -28.85 -0.83%
DAX 7,330.88 -32.97 -0.45%
Crude oil $84.92 +0,07%
Gold $1681.70 +0.39%
UnitedHealth resumed with a Outperform at Credit Suisse.
Walt Disney upgraded to Buy at Argus; tgt $60.
Piper Jaffray downgrades DuPont to Overweight from Neutral.
European stocks fell, pacing a late selloff in U.S. equities last week, amid concern that Greece will struggle to secure a bailout and as America prepares to choose a president.
The euro fell against most of its 16 major counterparts as Greek Prime Minister Antonis Samaras faces obstacles from coalition partners before lawmakers vote this week on measures required to receive aid.
Samaras pledged on Nov. 4 that the raft of wage and pension cuts in the latest austerity package will be the last and that Greek society won’t tolerate any more, according to comments made to lawmakers of his New Democracy party. The first parliamentary vote in Athens may come as early as Nov. 7.
In the U.S., voters will decide tomorrow between giving President Barack Obama another four years in office or changing course with Republican challenger Mitt Romney.
CGGVeritas lost 2.1 percent to 24.77 euros after the company reported third-quarter net profit of $48 million, missing analyst estimates for a profit of $68 million. The shares fell even as the company confirmed its 2012 targets.
Siemens dropped 0.8 percent to 78.89 euros after Financial Times Deutschland reported that the company may have to write down another 250 million euros ($321 million) from the exit of its solar business. The newspaper cited unidentified people close to the company.
Ryanair advanced 8.8 percent to 4.95 euros after reporting a 23 percent rise in second-quarter net profit to 496.8 million euros. The airline said annual earnings will be in the range of 490 million euros to 520 million euros, compared to 502.6 million euros in 2012. The company previously forecast profit would shrink to between 400 million euros and 440 million euros.
FTSE 100 5,841.08 -27.47 -0.47%
CAC 40 3,464.86 -27.60 -0.79%
DAX 7,332.1 -31.75 -0.43%
Asian stocks fell as Hyundai Motor Co. and Kia Motors Corp. slid on findings they overstated claims about gas mileage. Trading volume in the region was below average before tomorrow’s U.S. presidential election.
Nikkei 225 9,007.44 -43.78 -0.48%
S&P/ASX 200 4,474.12 +14.07 +0.32%
Shanghai Composite 2,114.03 -3.02 -0.14%
Hyundai and Kia slumped more than 6 percent in Seoul after saying they will compensate U.S. customers for overstating the fuel efficiency of their latest cars.
Sharp Corp. slid 6.7 percent on speculation the Japanese TV maker will seek a bailout after forecasting a record loss.
Foxconn International Holdings Ltd. surged 38 percent in Hong Kong on speculation it will win orders to manufacturer parts for Apple Inc.’s iPhone 5.
Asian stocks rose after reports on U.S. employment and manufacturing topped estimates and confidence among American consumers climbed to a four-year high. A gauge of Chinese shares listed in Hong Kong rallied 20 percent from a September low.
Nikkei 225 9,051.22 +104.35 +1.17%
S&P/ASX 200 4,460.05 +2.40 +0.05%
Shanghai Composite 2,117.05 +12.62 +0.60%
BHP Billiton Ltd., the world’s largest mining company, climbed 1.8 percent.
Sands China Ltd., the Macau casino operator controlled by billionaire Sheldon Adelson, gained 4.8 percent as spending by middle-class Chinese gamblers boosted profit 17 percent.
Sharp Corp. slid 2.4 percent after the TV maker forecast a record loss and said there was “material doubt” about its survival.
European stocks advanced to a two- week high as a report showed that hiring in the U.S. last month increased more than forecast.
As for the regional statistics have been issued on the production PMI Markit Spain, Italy, France, Germany and the eurozone. Spanish index fell more than expected, from 44.6 to 43.5 (vs. 44.0), Italian weakened from 45.7 to 45.5, as expected. French indicator rose from 42.7 to 46.0 vs. 45.7. The final euro-zone rose from 45.3 to 45.4, showing a small but unexpected change.
National benchmark indexes climbed in 16 of the 18 western European (SXXP) markets. The U.K.’s FTSE 100 added 0.1 percent. France’s CAC 40 rose 0.5 percent and Germany’s DAX added 0.4 percent.
Beiersdorf jumped 7.2 percent to 60.70 euros, the highest price since at least January 1996, after the maker of Nivea skin-care products raised its 2012 forecast for sales growth to as much as 4 percent, from a previous prediction of 3 percent.
A gauge of carmakers rose 1.2 percent for the second-best performance among the 19 industry groups in the Stoxx 600. BMW advanced 2.7 percent to 65 euros after saying U.S. sales climbed 21 percent in October. Daimler added 1.6 percent to 37.09 euros.
Alcatel-Lucent slumped 5.5 percent to 77.9 euro cents after posting a third-quarter net loss of 146 million euros, compared with a profit of 194 million euros a year earlier. The phone- equipment maker, whose shares have dropped 36 percent so far this year, is France’s most-shorted stock, based on data compiled by financial-information provider Markit, signaling a growing number of investors are predicting further declines.
Deutsche Telekom AG dropped 2.6 percent to 8.66 euros. The company may cut its dividend from next year by as much as a third, Handelsblatt reported, citing unidentified supervisory board members.
U.S. stocks fell, paring a weekly gain for the Standard & Poor’s 500 Index, after better-than- forecast payrolls failed to keep commodity and technology shares from slumping as Americans prepared to pick a president.
Equities advanced early in the day as a report showed a net 171,000 workers were added to payrolls in October. The median forecast of 91 economists called for an advance of 125,000. The jobless rate rose to 7.9 percent from 7.8 percent as more people entered the labor force.
The report comes before Americans go to the polls on Nov. 6 to decide whether to give President Barack Obama another four years or change course with Republican challenger Mitt Romney.
Commodity shares fell the most among 10 S&P 500 industry groups, sinking at least 1.7 percent.
Chevron (CVX) slipped 2.8 percent to $108.37 for the biggest retreat in the Dow. The second-largest U.S. energy company by market value said third-quarter profit declined as output plunged to a four-year low, oil prices slumped and refining income dropped 65 percent.
Priceline jumped 8.3 percent to $634.74. The most valuable online-travel agency reported profit that topped analysts’ estimates as consumers flocked to the site, assuaging concerns that Europe’s financial crisis would crimp demand.
At the close:
Dow 13,093.16 -139.46 -1.05%
Nasdaq 2,982.13 -37.93 -1.26%
S&P 500 1,414.20 -13.39 -0.94%
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