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Analytics, News, and Forecasts for CFD Markets: stock news — 12-10-2012.
European stocks declined for the fourth time in five days as International Monetary Fund Managing Director Christine Lagarde said global growth is not fast enough to curb unemployment, and Chinese new lending missed estimates, outweighing better-than-expected U.S. consumer confidence data.
Akzo Nobel NV (AKZA) slid 6.1 percent as Chief Executive Officer Ton Buechner extended his leave from the company. MAN SE (MAN) fell 3.3 percent after it said 2013 will be tougher than this year. Standard Chartered Plc and Axa SA (CS) climbed as Deutsche Bank AG raised its rating for the banking and insurance sectors.
The Stoxx Europe 600 Index fell 0.5 percent to 269.43 at the close of trading. The measure lost 1.7 percent this week as the International Monetary Fund cut its global growth forecasts and European Union leaders met to discuss the region’s debt crisis.
Stocks briefly pared losses after data showed confidence among U.S. consumers unexpectedly jumped in October to the highest level since before the recession began five years ago.
National benchmark indexes fell in 13 of the 18 western European (SXXP) markets.
FTSE 100 5,803.64 -26.11 -0.45% CAC 40 3,399.21 -14.51 -0.43% DAX 7,251.42 -30.28 -0.42%
Akzo Nobel, the world’s largest paint maker, fell 6.1 percent to 42.08 euros, its biggest drop in more than a year. The company’s supervisory board will meet on Oct. 17 to discuss the health situation of Buechner, who took leave last month, citing fatigue, and was expected to return in the first half of October.
MAN fell 3.3 percent to 75 euros. The truckmaker controlled by Volkswagen AG (VOW) said next year will be tougher than 2012 as orders in the third quarter fell more than normal for the season.
Spectris Plc (SXS), a maker of production-testing gears, slid the most in more than a year, falling 6.7 percent to 1,549 pence after sector peer Morgan Crucible Co. said it will shut down plants in Europe to offset a greater-than-expected drop in revenue.
Lanxess AG (LXS), a German chemical maker, retreated 4.4 percent to 60.21 euros. Credit Suisse Group AG downgraded the stock to underperform, similar to a sell rating, from neutral.
Saipem SpA (SPM), the Milan-based oil services contractor, declined 5.6 percent to 35.21 euros. The stock was cut to neutral from buy at Nomura Holdings Inc.
Swedbank AB (SWEDA) dropped 2.6 percent to 119.90 kronor. The stock was cut to hold from buy at Deutsche Bank.
Software AG (SOW), the German infrastructure software provider, surged 12 percent, the most in a year, to 30.35 euros after it confirmed its full-year forecast and said it expects growth in license sales to continue in the fourth-quarter.
Coca-Cola Hellenic Bottling Co. (EEEK) advanced 7 percent to 16.75 euros. The stock was upgraded to overweight, meaning investors should buy the shares, from neutral at JPMorgan after it announced plans yesterday to move its main stock listing from Athens to London.
U.S. stock futures slightly rose as investors weighed earnings from JPMorgan Chase & Co. (JPM) and Wells Fargo & Co. (WFC) ahead of data that may show consumer confidence stayed near the highest level since May.
Global Stocks:
Nikkei 8,534.12 -12.66 -0.15%
Hang Seng 21,136.43 +137.38 +0.65%
Shanghai Composite 2,104.93 +2.06 +0.10%
FTSE 5,813.93 -15.82 -0.27%
CAC 3,404.81 -8.91 -0.26%
DAX 7,271.73 -9.97 -0.14%
Crude oil $92.26 +0,21%
Gold $1773.10 +0.14
Wal-Mart (WMT) upgraded to Buy from Hold at Jefferies
General Electric (GE) was initiated with a Buy at Deutsche Bank
European stocks declined for the fourth time in five days, amid concerns global growth remains weak.
Euro-region industrial production unexpectedly increased for a second month in August, led by rising output in countries from Greece to France.
Output in the 17-member euro area rose 0.6 percent from July, when it increased a revised 0.6 percent, the European Union’s statistics office in Luxembourg said today. Economists had projected a drop of 0.4 percent. From a year ago, output slipped 2.9 percent after a 2.8 percent decline in July.
ASML, Europe’s largest chip-equipment maker, lost 1.3 percent to 40.94 euros. Advanced Micro Devices, the second- largest maker of processors for personal computers, cut its third-quarter revenue forecast, citing weak demand across all product lines in a challenging economic environment.
Standard Chartered gained 2.7 percent to 1,432.5 pence. A gauge of banks was the second-best performer on the Stoxx 600 Europe Index after Deutsche Bank upgraded European lenders and insurance companies to overweight, a recommendation similar to buy. Barclays Plc rose 1.9 percent to 237 pence.
FTSE 100 5,814.94 -14.81 -0.25%
CAC 40 3,398.91 -14.81 -0.43%
DAX 7,251.42 -30.28 -0.42%
Asian stocks rose, with the regional benchmark index headed for its first gain this week, after U.S. jobless claims fell more than estimated and China and Japan agreed to hold talks over a territorial dispute that has disrupted trade.
Nikkei 225 8,534.12 -12.66 -0.15%
S&P/ASX 200 4,486.6 +3.07 +0.07%
Shanghai Composite 2,104.93 +2.06 +0.10%
Toyota Motor Corp., a Japanese carmaker whose sales in China slumped last month after rioters torched dealerships in protests over disputed islands, added 1.3 percent.
China Cosco Holdings Co. climbed 5 percent, leading Chinese shipping companies higher, after haulage rates for commodities rose.
Softbank Corp. fell 16 percent after Japan’s third-largest phone operator said it’s in talks to invest in Sprint Nextel Corp.
Asian stocks swung between gains and losses after Standard & Poor’s downgraded Spain’s credit rating and as Japanese machinery makers declined after a report showed orders fell. Utility companies advanced. Companies that do business in Europe dropped after S&P downgraded Spain’s debt rating to one level above junk, citing mounting economic and political risks as the government considers a second bailout.
Nikkei 225 8,546.78 -49.45 -0.58%
S&P/ASX 200 4,483.5 -7.24 -0.16%
Shanghai Composite 2,107.63 -12.31 -0.58%
Esprit Holdings Ltd., a Hong Kong-based clothier that counts Europe as its biggest market, dropped 1.2 percent in Hong Kong.
Fanuc Corp., the world’s largest maker of controls that run machine tools, slipped 2.4 percent in Tokyo.
Lynas Corp. slumped 15 percent in Sydney after a court ruling further delayed the development of its rare-earth refinery in Malaysia.
Kyushu Electric Power Co. climbed 2.3 percent, pacing gains among Japanese utilities.
European stocks advanced for the first time in four days as U.S. jobless claims fell to a four- year low and Burberry Group Plc (BRBY) led luxury-goods makers higher.
Burberry jumped the most in more than 10 years as it reported second-quarter same-store sales that topped analyst estimates. Carrefour SA (CA) climbed 3.7 percent after the world’s second-largest retailer posted third-quarter sales that beat estimates. Banco Popular Espanol SA (POP) led Spanish banks lower after Standard & Poor’s downgraded the country’s debt to one level above junk.
The Stoxx Europe 600 Index (SXXP) climbed 0.8 percent to 270.84 at the close of trading.
The U.S. trade deficit widened in August to $44.2 billion from a revised $42.5 billion in July, a Commerce Department report showed. Economists had projected an increase to $44 billion.
S&P lowered Spain’s debt rating to one level above junk, citing increasing economic and political risks. The country’s worsening recession is “limiting the Spanish government’s policy options
Separately, German Finance Minister Wolfgang Schaeuble said today euro-area governments agree that any decision on Greece will be taken after the IMF, the European Commission and the ECB publish their review.
National benchmark indexes climbed in 16 of the 18 western European markets.
FTSE 100 5,832.96 +56.25 +0.97% CAC 40 3,417.28 +51.41 +1.53% DAX 7,279.42 +74.19 +1.03%
Burberry surged 13 percent to 1,136 pence, the biggest gain since at least July 2002, after the U.K.’s largest luxury-goods maker said sales at stores open at least a year rose 1 percent in the second-quarter, beating the average analyst estimate calling for a 1 percent drop.
LVMH Moet Hennessy Louis Vuitton SA (MC) climbed 3.8 percent to 122.95 euros, Cie. Financiere Richemont SA added 4.5 percent to 59.90 Swiss francs and Christian Dior SA (CDI) advanced 3.6 percent to 108.30 euros.
Carrefour advanced 3.7 percent to 16.58 euros after the French retailer said third-quarter revenue rose 2.1 percent to 22.6 billion euros, topping the average analyst estimate of 22.4 billion euros.
BAE Systems Plc (BA/) rose 2.4 percent to 328.5 pence after Chief Executive Officer Ian King said the company is “strong and financially robust.” Adjusted earnings per share will show “modest growth” this year if price negotiations with Saudi Arabia over a fighter-jet order are concluded on time, the London-based company said today.
Bumi Plc (BUMI) soared 39 percent to 259 pence, the most since its London listing in July 2010, after PT Bakrie & Brothers Tbk proposed an asset swap. The Bakrie Group offered to exchange a 23.8 percent stake in Bumi for 10.3 percent of PT Bumi Resources, Bumi said in a statement.
Banco Popular slid 4.9 percent to 1.30 euros. Bankia SA (BKIA) dropped 0.3 percent to 1.02 euros, paring earlier losses of as much as 3.8 percent.
Siemens AG (SIE) retreated 1.3 percent to 77.05 euros after Deutsche Bank AG cut its recommendation on the shares to hold from buy.
Major U.S. stock indexes significantly retreated from session highs, and so were not able to regain lost ground, ending the session with a little below zero.
Supported by data on the number of applications for unemployment benefits, the major U.S. stock indexes began in a significant plus. However, entrenched in the highs indices failed and retreated.
Investor is not in a hurry to open long positions and prefer to sit on the fence in anticipation of the publication of quarterly reports from the largest U.S. companies, which will be presented in the coming weeks.
Growth indices limit concerns about a possible worsening of the debt crisis in Europe. On the eve of the international rating agency S & P downgraded Spain's credit rating to the level of BBB + to BBB-.
Market participants expect the output of a quarterly report from the banks JP Morgan Chase and Wells Fargo, which will be published tomorrow, before the regular session.
DOW index components show a mixed trend. Maximum growth stocks show Bank of America (BAC, +1.19%). More than others in the share price fell Walt Disney Co. (DIS, -1.60%) and AT & T (T, -1.49%).
All sectors, except two, are in positive territory. Maximum growth shows the financial sector (+0.9%) and basic materials sector (+0.8%). Zero growth demonstrates the technology sector and the service sector.
At the close:
Dow 13,326.70 -18.27 -0.14%
Nasdaq 3,049.38 -2.40 -0.08%
S & P 500 1,432.88 +0.32 +0.02%
Change % Change Last
Nikkei 225 8,546.78 -49.45 -0.58%
S&P/ASX 200 4,483.5 -7.24 -0.16%
Shanghai Composite 2,107.63 -12.31 -0.58%
FTSE 100 5,832.96 +56.25 +0.97%
CAC 40 3,417.28 +51.41 +1.53%
DAX 7,279.42 +74.19 +1.03%
Dow 13,326.70 -18.27 -0.14%
Nasdaq 3,049.38 -2.40 -0.08%
S&P 500 1,432.88 +0.32 +0.02%
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