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Analytics, News, and Forecasts for CFD Markets: stock news — 06-07-2012.
European stocks extended declines for a third day as payrolls in the world’s biggest economy increased less than forecast in June.
German industrial output rebounded more than economists forecast in May as construction buttressed Europe’s largest economy against the sovereign debt crisis.
Production rose 1.6 percent from April, when it dropped 2.1 percent, the Economy Ministry in Berlin said today. Economists forecast an increase of 0.2 percent. Production was unchanged from a year earlier when adjusted for working days.
Spanish industrial production fell for the ninth month in May as the recession in the euro area’s fourth-largest economy worsened amid rising borrowing costs.
Output at factories, refineries and mines adjusted for the number of working days fell 6.1 percent from a year earlier, after an 8.3 percent decline in April, the National Statistics Institute in Madrid said today.
National benchmark indexes fell in 16 of the 18 western- European markets. Germany’s DAX and France’s CAC 40 each declined 1.9 percent. The U.K.’s FTSE 100 lost 0.5 percent.
Peugeot, Europe’s second-largest carmaker, slid 7.7 percent, the most since November, to 7.08 euros. The company said first-half sales declined to 1.62 million trucks from 1.86 million a year earlier as demand slumped in European markets.
BBVA tumbled 5.1 percent to 5.18 euros after HSBC downgraded the stock to neutral from overweight, meaning investors shouldn’t buy more of the shares.
Air France-KLM gained 4.4 percent to 4.06 euros after it reported a 4.6 percent increase in June passenger traffic and unions said an agreement had been reached on cutting ground- staff positions.
Arkema SA, a French maker of industrial chemicals, surged 11 percent to 59.28 euros. The company may have received “multiple takeover approaches” valuing the business at 5.5 billion euros ($6.8 billion) or more, FT Alphaville reported.
U.S. stocks declined as slower-than- forecast growth in payrolls trailed fueled concern that the economic recovery is slowing.
Equities fell as Labor Department figures showed payrolls rose 80,000 last month after a 77,000 increase in May. Economists projected a 92,000 gain. The unemployment rate held at 8.2%. 
Currently:
Dow 12,720.55 -176.12 -1.37%
Nasdaq 2,926.09 -50.03 -1.68%
S&P 500 1,350.42 -17.16 -1.25%
Resistance of 3:1420 (highs of 2012)
Resistance of 2:1410 (high of May)
Resistance of 1:1374 (Jul 5 low)
Current Price: 1348.25
Support 1:1337 (MA (55) and MA (20) for D1)
Support 2:1302 (MA (200) for D1, Jun 25-26 lows)
Support 3:1265 (low of June)
U.S. stock-index futures declined as growth in payrolls trailed forecasts in June, fueling concern that the economic recovery is slowing.
Global Stocks:
Nikkei 9,020.75 -59.05 -0.65%
Hang Seng 19,800.64 -8.49 -0.04%
Shanghai Composite 2,223.58 +22.23 +1.01%
FTSE 5,669.67 -22.96 -0.40%
CAC 3,201.26 -28.10 -0.87%
DAX 6,476.7 -58.86 -0.90%
Crude oil $84.67 (-2,92%)
Gold -$1588.10 (1.32%)
Asian stocks fell for a second day, paring this week’s gain, as sales at Samsung Electronics Co. missed analysts’ estimates and interest-rate cuts in Europe and China failed to boost confidence in the global economy.
Nikkei 225 9,020.75 -59.05 -0.65%
S&P/ASX 200 4,157.81 -11.39 -0.27%
Shanghai Composite 2,223.58 +22.23 +1.01%
Canon Inc., a Japanese camera maker that gets 31 percent of its sales in Europe, slid 2.5 percent.
Australian miner BHP Billiton Ltd., whose biggest market is China, fell 1 percent as investors sold shares of companies with earnings tied to economic growth.
Agricultural Bank of China Ltd. led a slide among Chinese banks, dropping 2.8 percent.
Parco Co. climbed 2.5 percent in Tokyo after J Front Retailing Co. said it will buy a majority stake in the rival department-store operator.
Asian stocks fell, with the regional benchmark index heading for its first decline in in seven days as a deepening economic slump in Europe outweighed expectations the region’s central bank will ease rates today.
Nikkei 225 9,079.8 -24.37 -0.27%
S&P/ASX 200 4,169.19 -2.96 -0.07%
Shanghai Composite 2,201.35 -25.96 -1.17%
Nippon Sheet Glass Co. , which counts Europe as its biggest market, fell 1.2 percent in Tokyo.
Aquarius Platinum Ltd. tumbled 8.2 percent in Sydney after the world’s fourth-largest producer of the precious metal said output will fall.
Li Ning Co. surged 7.3 percent after founder and Olympic gold medalist Li Ning stepped in as chief executive officer and TPG Capital pledged to boost investment in the sportswear retailer if needed.
European stocks retreated as European Central Bank President Mario Draghi said downside risks to the economy remain, offsetting monetary policy easing by countries from China to the U.K.
The ECB cut interest rates to a record low and said it won’t pay anything on overnight deposits. The central bank reduced its main refinancing rate to 0.75 percent from 1 percent and cut its deposit rate to zero from 0.25 percent.
Draghi, the central bank’s president, said some “downside risks to the euro-area economic outlook have materialized. The main downside risks relate to weaker-than-expected economic activity.”
In the U.K, the Bank of England restarted bond buying two months after halting its asset-purchase program. The Monetary Policy Committee led by Governor Mervyn King raised its target by 50 billion pounds ($78 billion) to 375 billion pounds.
National benchmark indexes fell in 14 of the 18 western- European markets. Germany’s DAX declined 0.5 percent and France’s CAC 40 retreated 1.2 percent. The U.K.’s FTSE 100 gained 0.1 percent.
UniCredit SpA and Intesa Sanpaolo SpA, Italy’s largest banks, slumped 5.1 percent to 2.81 euros and 4.4 percent to 1.04 euros, respectively. Italy’s 10-year government bonds extended their decline, pushing the yield on the securities above 6 percent earlier today. Yields on two-year notes advanced 27 basis points to 3.70 percent.
In Spain, Banco Bilbao Vizcaya Argentaria SA plunged 4.8 percent to 5.46 euros and Banco Santander SA, the country’s largest lender, fell 3.9 percent to 5.10 euros.
Volkswagen climbed 5.1 percent to 134.50 euros after Europe’s largest carmaker agreed to buy the controlling stake in Porsche’s automotive business for 4.46 billion euros ($5.5 billion), ending a seven-year takeover saga that has divided two of Germany’s most powerful families.
U.S. stocks declined, halting a three-day advance for the Standard & Poor’s 500 Index, amid disappointment over Europe’s efforts to tame the region’s debt crisis as investors awaited tomorrow’s American jobs report.
Equities fell as European Central Bank President Mario Draghi said today’s cut in interest rates to a record low may have only a limited impact on the euro-area economy. China also reduced rates in a bid to spur growth. Tomorrow’s Labor Department data may show the pace of hiring in the U.S. accelerated in June while remaining at less than half the average for the first quarter of the year, economists said.
Today’s economic reports showed that fewer Americans filed jobless claims and hiring beat estimates. Service industries expanded at a slower pace, underscoring Federal Reserve concern that growth isn’t strong enough to reduce unemployment.
JPMorgan Chase & Co. slumped 4.2 percent, the most in the Dow, to $34.38. The lender was ordered by a federal judge to explain why it shouldn’t be compelled to turn over e-mails sought by U.S. regulators in a probe of potential energy-market manipulation. Bank of America slid 3 percent to $7.82.
Netflix Inc. soared 13 percent, the most since January, to $81.72. The largest video-subscription service also had the biggest gain in the S&P 500 (SPX) after an analyst said the company’s online audience exceeds cable and TV networks.
Change % Change Last
Nikkei 225 9,079.8 -24.37 -0.27%
S&P/ASX 200 4,169.19 -2.96 -0.07%
Shanghai Composite 2,201.35 -25.96 -1.17%
FTSE 100 5,692.63 +8.16 +0.14%CAC 40 3,229.36 -38.39 -1.17%
DAX 6,535.56 -29.24 -0.45%
Dow 12,897 -47 -0.36%
Nasdaq 2,976 +0 +0.00%
S&P 500 1,368 -6 -0.47%
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