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Analytics, News, and Forecasts for CFD Markets: stock news — 06-09-2012.
European stocks rallied the most in a month after European Central Bank President Mario Draghi said policy makers agreed to an unlimited bond-purchase program as they try to regain control of interest rates in the euro area.
The ECB program “will enable us to address severe distortions in government bond markets which originate from, in particular, unfounded fears on the part of investors of the reversibility of the euro,” Draghi said at a press conference in Frankfurt. “Under appropriate conditions, we will have a fully effective backstop to avoid destructive scenarios with potentially severe challenges for price stability.”
National benchmark indexes climbed in all 18 western- European markets, and all 19 industry groups in the Stoxx 600 advanced. Germany’s DAX rallied 2.9 percent and the U.K.’s FTSE 100 gained 2.1 percent. France’s CAC 40 jumped 3.1 percent.
A gauge of banks had the biggest gain among 19 industry groups in the Stoxx 600, rising 4.4 percent. UniCredit, Italy’s largest lender, advanced 8.1 percent to 3.51 euros and France’s Societe Generale rallied 7.8 percent to 22.93 euros. Banco Espirito Santo SA surged 8.3 percent to 61.3 euro cents in Lisbon.
Nokia Oyj, the mobile-phone maker that lost more than 95 percent of market value since 2007, dropped 2.9 percent to 1.93 euros after the stock was cut to sell from hold at Deutsche Bank AG. The shares sank 13 percent yesterday after the company unveiled two smartphones using Microsoft Corp.’s new Windows Phone software.
U.S. stock futures rose as fewer Americans filed for jobless claims and European Central Bank President Mario Draghi said policy makers decided on the specifics of its bond buying program.
Global Stocks:
Nikkei 8,680.57 +0.75 +0.01%
Hang Seng 19,209.3 +64.23 +0.34%
Shanghai Composite 2,051.92 +14.24 +0.70%
FTSE 5,703.39 +45.53 +0.80%
CAC 3,455.4 +49.61 +1.46%
DAX 7,060.49 +95.80 +1.38%
Crude oil $96.21 +0,89%
Gold $1705.90 +0.70%
Growth indices began trading in Europe. Today will be a welcome speech of the ECB. By Mario Draghi hoping for clear signals to a program is launched to repurchase the bonds of troubled countries or not.
Diminished ardor bulls Eurozone GDP. In the second quarter, in the final year a decline of -0.5%, forecast -0.4%.
On tekuzy point:
FTSE 100 5,699.47 +41.61 +0.74%
DAX 7,057.30 +92.61 +1.33%
CAC 3,444.34 +38.55 +1.13%
Asian stocks rose, with the regional benchmark index poised for the first gain in six days, as investors await a European Central Bank meeting. Material and energy companies climbed as oil and copper prices increased.
Nikkei 225 8,680.57 +0.75 +0.01%
S&P/ASX 200 4,312.9 +34.13 +0.80%
Shanghai Composite 2,042.77 +5.09 +0.25%
HSBC Holdings Plc, Europe’s biggest lender, rose 0.7 percent in Hong Kong.
Lynas Corp. surged 42 percent in Sydney after it said Malaysia issued a temporary operating license for a rare-earths refinery.
Billabong International Ltd., a surfwear maker, gained 7.1 percent in Sydney after receiving another takeover offer.
Asian stocks fell, with the regional benchmark index headed for the longest losing streak in eight weeks, as economic reports from the U.S. to China and Australia stoked concern global growth is slowing.
Nikkei 225 8,679.82 -95.69 -1.09%
S&P/ASX 200 4,278.77 -24.75 -0.58%
Shanghai Composite 2,037.68 -5.97 -0.29%
Samsung Electronics Co., South Korea’s largest exporter of consumer electronics that gets 20 percent of its revenue in America, lost 2.4 percent in Seoul.
Westpac Banking Corp., Australia’s No. 2 lender by market value, slid 1.5 percent in Sydney as the country’s economy grew at a slower-than-estimated rate.
Fortescue Metals Group Ltd., Australia’s third-biggest iron-ore producer, plunged 8.5 percent as prices of the steelmaking material fell to a three-year low on slowing growth in China.
European stocks closed little changed, after swinging between gains and losses, as investors await tomorrow’s European Central Bank meeting.
Under Draghi’s proposed blueprint, which may be called “Monetary Outright Transactions,” the ECB would refrain from setting a public cap on yields, according to two central bank officials, and a third official, who spoke on condition of anonymity. The plan will only focus on government bonds rather than a broader range of assets and will target short-dated maturities of up to about three years, two of the people said.
National benchmark indexes advanced in 12 of the 18 western-European markets. The U.K.’s FTSE 100 Index fell 0.3 percent. France’s CAC 40 gained 0.2 percent and Germany’s DAX rose 0.5 percent.
Richemont added 1.5 percent to 60.05 Swiss francs after the world’s largest jewelry maker reported revenue that climbed 23 percent in the five months through August as the dollar’s strength boosted the value of sales in that currency.
BP, the owner of the Macondo well that caused the worst U.S. oil spill two years ago, slid 2.9 percent to 423.85 pence after the U.S. Justice Department reiterated it will pursue charges of gross negligence in the case. The company faces a trial with the DOJ after reaching a $7.8 billion settlement in March with victims of the spill.
STMicroelectronics NV declined 4.9 percent to 4.40 euros after UBS AG lowered its recommendation for the biggest European chipmaker to sell from neutral, saying its share price doesn’t take account of continuing challenges to the business. Exane BNP Paribas also downgraded the shares to underperform, the equivalent of a sell rating, from neutral.
Most U.S. stocks fell, sending the Standard & Poor’s 500 Index lower for a second day, amid a slump in FedEx Corp. and disappointing global economic data as investors awaited the European Central Bank’s plan to buy bonds.
ECB President Mario Draghi’s bond-buying proposal involves unlimited purchases of government debt that will be sterilized to assuage concerns about printing money, two central bank officials briefed on the plan said. To sterilize the bond purchases, the ECB will remove from the system elsewhere the same amount of money it spends, ensuring the program has a neutral impact on the money supply.
Draghi told the European Parliament this week that the ECB needs to intervene in bond markets to wrest back control of interest rates in the fragmented euro-area economy and ensure the survival of the common currency. Policy makers start deliberating on the plan today and Draghi will announce whether it has been agreed to at a press conference tomorrow.
Stocks slumped earlier as London-based Markit Economics said euro-area services and manufacturing contracted more than initially estimated in August. Separate data showed service industries in China expanded at a weaker pace in August as new orders slowed and Australia’s economy slowed more in the second quarter than economists expected.
FedEx lost 2 percent to $85.80 for the biggest drop since July 20. The operator of the world’s largest cargo airline said profit for the quarter that ended Aug. 31 will range from $1.37 to $1.43 a share. That was less than its June 19 forecast of $1.45 to $1.60 a share and year-earlier earnings of $1.46. It would mark the first drop in adjusted earnings per share since the quarter that ended November 2009.
Change % Change Last
Nikkei 225 8,679.82 -95.69 -1.09%
S&P/ASX 200 4,278.77 -24.75 -0.58%
Shanghai Composite 2,037.68 -5.97 -0.29%
FTSE 100 5,657.86 -14.15 -0.25%CAC 40 3,405.79 +6.75 +0.20%
DAX 6,964.69 +32.11 +0.46%
Dow 13,045 +10 +0.07%
Nasdaq 3,069 -6 -0.19%
S&P 500 1,403 -2 -0.13%
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