Analytics, News, and Forecasts for CFD Markets: stock news — 08-05-2012.

European stocks dropped after the leader of Greece’s biggest political party failed to reach an agreement on a new government following the weekend’s elections.

The euro weakened for a seventh day as Antonis Samaras, the leader of the New Democracy party in Greece, said he failed to reach an agreement to form a government. Alexis Tsipras, the head of Syriza, the second-biggest party, will now attempt to form a coalition government of left-wing parties. Tsipras said he wouldn’t agree to join forces with New Democracy and Pasok, the two Greek parties that have supported austerity measures in return for international funds, while saying a left-wing coalition government would nationalize banks to spur growth, repeal recent labor reforms and immediately cancel the bailout accords, he said.

National benchmark indexes fell in every western-European market except Iceland and Portugal. France’s CAC 40 slid 2.8 percent, the U.K.’s FTSE 100 fell 1.8 percent and Germany’s DAX dropped 1.9 percent. Greece’s ASE Index plunged 3.6 percent to its lowest close since 1992.

National Bank of Greece, the country’s biggest lender, tumbled 8.4 percent to 1.42 euros, extending yesterday’s 8.3 percent slump. Alpha Bank, Greece’s second-largest lender, sank 14 percent to 72 euro cents and EFG Eurobank Ergasias SA dropped 10 percent to 46 cents.

Elsewhere, BNP Paribas SA, France’s biggest lender, slipped 3.8 percent to 29.07 euros, Banca Monte dei Paschi di Siena SpA, Italy’s third-largest bank, slid 4.3 percent to 25.08 euro cents and Germany’s Commerzbank AG lost 3.4 percent to 1.53 euros.

In Madrid, Bankia tumbled 4.8 percent to 2.26 euros as Spain’s economy ministry today denied that the state has seized the third-largest lender in the country.

U.K. builders retreated as a house-price index fell in April, the Royal Institution of Chartered Surveyors said. The gauge dropped to minus 19 from minus 11 in March, according to RICS, which conducts a monthly poll of property surveyors across the country. A reading below zero means more surveyors saw price drops than gains last month.

Taylor Wimpey dropped 6.3 percent to 44.67 pence, Barratt Developments Plc lost 5.3 percent to 117.7 pence and Persimmon Plc declined 4.4 percent to 563.5 pence.

U.S. stocks fell, sending the Standard & Poor’s 500 Index to its lowest level in two months, as Greece’s struggle to form a new government intensified concern about a euro exit and deepening of the region’s debt crisis.

American equities joined a global slump as Greek stocks fell to the lowest in two decades. Greece’s leaders meet for a second day to try to form a government after New Democracy’s Antonis Samaras failed to forge an agreement following an election that raised questions about the euro membership.

The attempt to form a government now passes to Alexis Tsipras, the head of Syriza. Tsipras ran on a pledge to overturn Greece’s bailout, helping Syriza emerge as the country’s second- most voted party. He has said he will seek to form a coalition with other parties that favor reversing the 130 billion-euro bailout, the country’s second aid package, which came after Greece carried out the biggest debt restructuring in history.

All 10 groups in gauge retreated today as consumer discretionary and commodity shares had the biggest losses. The Morgan Stanley Cyclical Index of companies most-tied to the economy decreased 1.5 percent. Caterpillar (САТ), the largest maker of construction equipment, slid 2 percent to $95.21. Alcoa (АА), the biggest U.S. aluminum producer, fell 2 percent to $9.15. Bank of America (ВАС) sank 2.3 percent to $7.78.

Discovery Communications Inc. retreated 6.4 percent to $50.60. The owner of cable networks such as Animal Planet and TLC reported a 28 percent decline in first-quarter profit after a one-time gain last year on Oprah Winfrey’s network, OWN.

McDonald’s (MCD) lost 1.4 percent to $94.16. Sales at stores open at least 13 months rose 3.3 percent worldwide last month, trailing estimates, as sales growth slowed in the U.S. Analysts projected a gain of 4.3 percent, the average of 13 estimates compiled by Consensus Metrix. Sales in the U.S. advanced 3.3 percent. Analysts estimated an increase of 5.2 percent.

Resistance 3:1402 (May 3 high)

Resistance 2:1388 (area of May 4 high and МА (200) for Н1)

Resistance 1:1370 (session high, May 7 high)

Current price: 1351,75

Support 1:1342 (session low)

Support 2:1330 (38,2 % FIBO 1197-1420)

Support 3:1300 (area of 50,0 % FIBO 1197-1420, psychological level)

U.S. stock futures fell as the struggle by Greece’s political leaders to form a government underscored growing concern about the region’s debt crisis.

Global Stocks:

Nikkei  9,181.65 +62.51 +0.69%

Hang Seng 20,484.75 -51.90 -0.25%

Shanghai Composite 2,448.88 -3.06 -0.12%

FTSE  5,644.01 -11.05 -0.20%

CAC  3,166.68 -47.54 -1.48%

DAX 6,534.14 -35.34 -0.54%

Crude oil $96.89 (-1.07%).

Gold $1611.40 (-1.69%).

Asian stocks rose as Capcom Co. forecast higher profit and Mitsubishi Corp. posted better-than- estimated earnings, helping the regional benchmark index rebound after political change in Europe sparked its biggest loss in six months yesterday.

Nikkei 225 9,181.65 +62.51 +0.69%

Hang Seng 20,424.68 -111.97 -0.55%

S&P/ASX 200 4,314.3 +13.01 +0.30%

Shanghai Composite 2,448.88 -3.06 -0.12%

Capcom jumped 5.3 percent in Tokyo after the video-game developer said full-year net income will increase 46 percent.

Mitsubishi, Japan’s biggest trading house, gained 3.7 percent after reporting profit that topped estimates.

Iluka Resources Ltd. slumped 12 percent in Sydney after the world’s largest zircon producer cut its forecast for the mineral.

Asian stocks fell, with the regional benchmark index heading for its biggest decline in six months, after U.S. employers added fewer jobs than forecast and amid concern Europe’s debt crisis may worsen after Socialist Francois Hollande was elected president of France.

Nikkei 225 9,119.14 -261.11 -2.78%

Hang Seng 20,512.09 -573.91 -2.72%

S&P/ASX 200 4,301.3 -94.74 -2.16%

Shanghai Composite 2,451.95 -0.07 0.00%

Samsung Electronics Co., the world’s No. 1 maker of mobile phones by sales, dropped 2.4 percent in Seoul.

Sony Corp. sank 4 percent, leading losses among Japanese exporters on concern a weaker euro will damp the repatriated value of sales from Europe.

BHP Billiton Ltd., the world’s largest mining company and Australia’s biggest oil producer, lost 3.7 percent as crude oil and copper futures fell.

Change % Change Last

Nikkei 225 9,119.14 -261.11 -2.78%

Hang Seng 20,512.09 -573.91 -2.72%

S&P/ASX 200 4,301.3 -94.74 -2.16%

Shanghai Composite 2,451.95 -0.07 0.00%