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Analytics, News, and Forecasts for CFD Markets: stock news — 12-04-2012.
European stocks climbed the most in more than a week, led by a rally in mining companies, after the Federal Reserve signaled U.S. interest rates will remain low to support economic growth.
Fed Vice Chairman Janet Yellen endorsed the central bank’s view that borrowing costs are likely to stay low through 2014 as the central bank misses its goal for full employment and inflation remains in check.
National benchmark indexes advanced in 15 of the 18 western European markets. The U.K.’s FTSE 100 rallied 1.3 percent, while Germany’s DAX and France’s CAC 40 (CAC) increased 1 percent. Spain’s IBEX 35 slipped 0.8 percent.
Rio Tinto, the world’s third-largest mining company, climbed 4.5 percent to 3,487 pence. BHP, the biggest, gained 2.8 percent to 1,906.5 pence and Xstrata Plc increased 2.5 percent to 1,105.5 pence.
China, the world’s largest consumer of copper, will publish its first-quarter GDP data tomorrow. The report is forecast to show the economy expanded 8.4 percent from a year earlier, slowing from the fourth quarter’s 8.9 percent increase, according to a survey of economists.
Hays rallied 8.9 percent to 88.5 pence after the U.K. recruitment company forecast full-year operating profit will “be towards the top of the current range of market estimates.”
Gerresheimer AG climbed 10 percent to 35.35 euros, the largest gain in three years, as the German maker of glass and plastic products for the health-care industry raised its forecast for the year.
Nokia Oyj dropped 7.2 percent to 3.04 euros, extending yesterday’s 14 percent selloff, as brokers reduced their recommendations on the shares. Societe Generale SA downgraded the biggest maker of mobile handsets by volume to hold from buy, while Morgan Stanley trimmed its price estimate by 32 percent to 2.60 euros after the company cut its profit forecasts yesterday.
U.S. stocks rose, sending the Standard & Poor’s 500 Index higher for a second day, amid policymakers’ indications that interest rates will remain low.
This news positive impact on the cost of shares of the company, which increased significantly in the course of trading. Published in the course of trading macroeconomic statistics few influenced the mood of market participants - number of applications for unemployment benefits in the week to 7 April increased by 13 thousand up to 380 thousand. showing the maximum value from 28 January. According to the forecasts of economists, the indicator is expected at the level of 355 thousand.
Equities rose after Federal Reserve Vice Chairman Janet Yellen and Fed Bank of New York President William C. Dudley endorsed the central bank’s view that borrowing costs are likely to stay low through 2014. U.S. central bankers next meet on April 24-25 to debate policy after a report last week showed job growth slowed to the weakest pace in five months.
Dow 12,947 .03 +141.64 +1.11% the Nasdaq 3,055 .10 +38.64 +1.28% of the S&P 500 1,386 .12 +17.41 +1.27%
The Morgan Stanley Cyclical Index of companies most-tied to economic growth added 2.2 percent. The Dow Jones Transportation Average, considered a proxy for the economy, gained 2.2 percent. Caterpillar Inc. (CAT) advanced 3.4 percent to $105.21. Alcoa Inc. (АА) rose 2.9 percent to $10.19.
Hewlett-Packard (HPQ) rallied 6 percent to $24.81. The company accounted for 17.2 percent of worldwide PC shipments, Stamford, Connecticut-based Gartner said yesterday. Total global PC shipments climbed 1.9 percent to 89 million units, after predictions of a 1.2 percent drop, according to Gartner. Another research firm, IDC, also reported a surprise increase for the quarter.
Google, which is scheduled to report first-quarter results after the market close, added 1.3 percent to $644.45. On average estimate earnings of $9.64, a 19 percent growth from the same period a year earlier.
Resistance 3:1420 (4 years high)
Resistance 2:1397/00 (area of Apr 5 high)
Resistance 1:1382 (Apr 9 high)
Current price: 1373,25
Support 1:1362 (session low)
Support 2:1352 (Apr 10 low, support line from Mar 6)
Support 3:1338 (low of March)
U.S. stock futures trimmed gains after government data showed that initial jobless claims unexpectedly increased last week.
Equity futures trimmed gains as jobless claims increased 13,000 in the week ended April 7 to 380,000, the highest since Jan. 28. The median forecast called for 355,000 claims.
Nikkei 9,524.79 +66.05 +0.70%
Hang Seng 20,327.32 +186.65 +0.93%
Shanghai Composite 2,350.86 +41.94 +1.82%
FTSE 5,620.18 -14.56 -0.26%
CAC 3,222.16 -15.53 -0.48%
DAX 6,667.43 -7.30 -0.11%
Crude oil: $102.80 (+0.10%).
Gold: $1655.70 (-0,28%).
Asian stocks slipped, with the benchmark index headed for its longest losing streak since August, as Spanish bond yields surged closer to levels that prompted other European countries to seek bailouts.
Nikkei 225 9,458.74 -79.28 -0.83%
Hang Seng 20,121.71 -234.53 -1.15%
S&P/ASX 200 4,246.13 -46.14 -1.07%
Shanghai Composite 2,308.92 +3.06 +0.13%
Esprit Holdings Ltd., a clothier that depends on Europe for about 80 percent of sales, fell 3.1 percent in Hong Kong.
China Shipping Development Co. slumped 8.6 percent after the commodities carrier said it may post a first-quarter loss on lower cargo rates.
Sony Corp. and Sharp Corp., Japan’s biggest makers of liquid-crystal-display televisions, dropped more than 3 percent after posting record losses amid declining TV sales and a stronger yen.
European stocks gained, rebounding from a two-month low, as banks and automakers advanced and Spain’s prime minister said the country wouldn’t need a bailout.
Prime Minister Mariano Rajoy said Spain faces a “huge” task generating jobs and growth as it looks to rein in its budget deficit. Addressing lawmakers of his People’s Party in Madrid today, he also said he wants to make it “as clear as day” that Spain won’t need a bailout.
Spain’s 10-year borrowing costs have jumped more than 1 percentage point since March 2, when Rajoy announced that the country will miss its 2012 budget-deficit goal approved by the European Union. European Central Bank Executive Board member Benoit Coeure triggered speculation that the bank will revive its bond purchase program to lower Spain’s borrowing costs.
FTSE 100 5,634.74 +39.19 +0.70%, CAC 40 3,237.69 +20.09 +0.62%, DAX 6,674.73 +68.30 +1.03%
Deutsche Bank, Germany’s largest bank, added 2.3 percent to 34.48 euros. Barclays Plc gained 2.8 percent to 212.1 pence. Italian banks gained, with UniCredit, the country’s biggest bank, adding 5.5 percent to 3.21 euros after falling 8.1 percent yesterday. Intesa Sanpaolo SpA also rose 5.5 percent to 1.20 euros. Banca Popolare di Milano Scarl gained 5.9 percent to 34.8 euro cents.
Banco Santander SA, Spain’s largest bank, added 2 percent to 5.30 euros, Banco Bilbao Vizcaya Argentaria SA rose 3.8 percent to 5.60 euros. BBVA was raised to buy from hold at Deutsche Bank.
Preferred shares of Volkswagen added 3 percent to 128.80 euros, after four days of losses. Europe’s largest carmaker said first-quarter auto sales rose 10.5 percent to 1.36 million units. Daimler AG added 1.2 percent to 41.31 euros. Bayerische Motoren Werke AG (BMW), the world’s largest maker of luxury vehicles, gained 2.5 percent to 66.71 euros.
Norsk Hydro, a European aluminum producer, advanced 2.2 percent to 29.95 kroner after Alcoa Inc. (AA), the largest U.S. aluminum producer, reported an unexpected first-quarter profit after orders rose and it closed higher-cost smelting capacity.
Givaudan, the Swiss maker of flavors and fragrances, rose 3.7 percent to 894.50 francs. The company reported improved first-quarter sales as it continued to pass on the higher cost of raw materials including vanilla and citrus oils with increased pricing.
Nokia tumbled 14 percent to 3.27 euros, its lowest level since 1997, after the company cut its profit forecast for its handset division. The first-quarter operating margin for the devices and services business was probably minus 3 percent based on the non-IFRS accounting standard, Espoo, Finland-based Nokia said in a statement today.
U.S. stocks advanced, halting a five-day decline for the Standard & Poor’s 500 Index, after Alcoa (AA) Inc. reported an unexpected first-quarter profit.
Today’s gain extended this year’s rally in the S&P 500 to 8.8 percent as investors bought stocks amid better-than- estimated economic and corporate data. While S&P 500 per-share profit growth slowed to 0.8 percent during the first three months of the year from 4.9 percent in the fourth quarter, it will accelerate to 8.3 percent during all of 2012, according to analyst estimates.
On top of earnings data, investors also watched the Federal Reserve’s Beige Book business survey today, published two weeks before the Federal Open Market Committee meets to set monetary policy. The Fed said the economy maintained its expansion in all 12 of its regions as manufacturing, hiring and retail sales showed signs of strength in the face of higher fuel prices.
Dow 12,805.39 +89.46 +0.70%, Nasdaq 3,016.46 +25.24 +0.84%, S&P 500 1,368.71 +10.12 +0.74%
Alcoa (АА) climbed 6.2 percent to $9.90. The earnings were “driven by higher-than-expected profitability from every operating segment,” Brian Yu, an analyst at Citigroup Inc. (C) in San Francisco, said in a note. “Good cost control likely played a major role.” The stock dropped 48 percent in the 12 months through yesterday, the biggest decline in the Dow.
Financial shares had the biggest gain in the S&P 500 among 10 industries today, rallying 1.6 percent. Bank of America (ВАС) rose 3.8 percent to $8.86. JPMorgan (JPM) jumped 2.4 percent to $44.01.
A measure of 11 homebuilders in S&P indexes jumped 4.8 percent as Wells Fargo & Co. said a survey of sales managers showed 63 percent of the respondents reported better-than-expected orders. Homebuilder PulteGroup Inc. advanced 9.1 percent to $8.39.
Owens-Illinois Inc. rose 6.9 percent to $23.52. The glass- bottle maker said first-quarter earnings will rise more than 35 percent from a year earlier on higher prices and lower costs.
Computer Sciences Corp. fell 2.8 percent to $27.39. The technology contractor for governments and companies said earnings excluding certain costs in the quarter ended March 30 were 19 cents to 21 cents a share. Analysts predicted 97 cents.
Change % Change Last
Nikkei 225 9,458.74 -79.28 -0.83%
Hang Seng 20,121.71 -234.53 -1.15%
S&P/ASX 200 4,246.13 -46.14 -1.07%
Shanghai Composite 2,308.92 +3.06 +0.13%
FTSE 100 5,634.74 +39.19 +0.70%
CAC 40 3,237.69 +20.09 +0.62%
DAX 6,674.73 +68.30 +1.03%
Dow 12,805.39 +89.46 +0.70%
Nasdaq 3,016.46 +25.24 +0.84%
S&P 500 1,368.71 +10.12 +0.74%
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