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Analytics, News, and Forecasts for CFD Markets: stock news — 12-11-2012.
European stocks fell to a two-week low as euro-area finance ministers met to discuss Greek aid and concern grew that impending U.S. tax increases and spending cuts will harm the world’s biggest economy.
National benchmark indexes fell in 12 of the 18 western- European markets today. France’s CAC 40 dropped 0.4 percent, while Germany’s DAX and the U.K.’s FTSE 100 were little changed.
Greece’s ASE sank 3.6 percent as Alpha Bank tumbled 14 percent to 1.56 euros. National Bank of Greece SA, the nation’s largest lender, lost 14 percent to 1.51 euros.
Plans to give Greece extra time to meet deficit-cutting targets would open up a financing gap of about 15 billion euros through 2014 and 17.6 billion euros in the two following years, the country’s creditors said. The so-called troika of the European Commission, ECB and International Monetary Fund supplied the estimates for tonight’s meeting of euro-area finance ministers in Brussels, according to a document obtained by Bloomberg News.
Telecom Italia climbed 4.2 percent to 72 euro cents. Italy’s former phone monopoly received interest from Sawiris, founder of Orascom Telecom Holding SAE, about an investment “through underwriting of new stock,” the Milan-based company said today. The offer is valued at more than 2 billion euros, said a person familiar with the matter, asking not to be identified because the discussions are confidential.
Banco Popular Espanol SA surged 4.6 percent to 1.17 euros as the Spanish bank said it plans to sell as much as 2.5 billion euros of discounted shares to close a capital shortfall.
U.S. stock futures advanced amid a surge in takeover activity.
Global Stocks:
Nikkei 8,676.44 -81.16 -0.93%
Hang Seng 21,430.3 +45.92 +0.21%
Shanghai Composite 2,079.27 +10.21 +0.49%
FTSE 5,790.28 +20.60 +0.36%
CAC 3,418.28 -5.29 -0.15%
DAX 7,187.22 +23.72 +0.33%
Crude oil $85.81 -0.30%
Gold $1734.80 +0.23%
Walt Disney (DIS) was upgraded to Buy at Citigroup
McDonald's (MCD) was initiated with Buy at Davenport
Johnson & Johnson (JNJ) was downgraded to Hold at Jefferies
Caterpillar (CAT) was downgraded to a Neutral at JPMorgan.
Trading in Europe in different directions, and a slight change in the indices. The focus of the market is Greece, but which last week approved the budget for 2013 with a small surplus (1.1%), excluding debt service. If the country does not receive the next tranche of aid, it is threatened with default this week.
German Chancellor Angela Merkel and the chairman of the Foreign Affairs Committee Bundestag Ruprecht Polenz supported the creation of a free trade area between the EU and the U.S.. The German government intends to ensure that the authorities in Washington as soon as possible to discuss this issue.
FTSE 100 5,781.64 +11.96 +0.21%
CAC 40 3,418.57 -5.00 -0.15%
DAX 7,179.81 +16.31 +0.23%
Telecom Italia Shares rose 3%. According to press reports, Orascom Telecom Holding SAE is planning to acquire a minority stake in the Italian telephone operator.
The capitalization of the Swiss phone company Swisscom AG rose by 1%. After JPMorgan Chase & Co. increased Swisscom recommendation on the shares to "overweight" from "neutral."
Quotes HSBC Holdings added 0.4%, Credit Agricole shares were down 1.5%.
Asian stocks fell, with the regional benchmark index headed for its lowest close in a month, after Japan’s economy shrank at the fastest pace since last year’s earthquake, overshadowing an acceleration in China’s exports.
Nikkei 225 8,676.44 -81.16 -0.93%
S&P/ASX 200 4,448.03 -13.99 -0.31%
Shanghai Composite 2,079.27 +10.21 +0.49%
Yokohama Rubber Co. sank 6.3 percent after posting quarterly earnings that missed analysts’ estimates and as the price of rubber fell to a two-month low following the Japanese data.
QBE Insurance Group Ltd. sank 8.3 percent, the most in 11 months, after Australia’s No. 1 insurer by market value said it will issue debt due to losses from U.S. super storm Sandy.
Li & Fung Ltd., a supplier of clothes and toys to Wal-Mart Stores Inc., climbed 1.3 percent as China’s exports grew at the fastest rate since May.
Asian stocks fell, with the regional benchmark index headed for the biggest two-day loss in two months, as companies cut forecasts and Australia’s central bank trimmed its national growth outlook. Shares pared losses after data added to signs China’s economy is bottoming.
Nikkei 225 8,757.6 -79.55 -0.90%
Hang Seng 21,353.1 -213.81 -0.99%
S&P/ASX 200 4,462.02 -21.80 -0.49%
Shanghai Composite 2,069.07 -2.44 -0.12%
Nexon Co., a developer of online games, slumped 16 percent in Tokyo after cutting its net-income forecast.
Emeco Holdings Ltd., a mining-equipment maker, plunged 17 percent in Sydney after reducing its profit target.
National Australia Bank Ltd., the nation’s fourth-biggest lender by market value, dropped 0.7 percent in Sydney.
Chinese developer Guangzhou R&F Properties Company Ltd. rose 1.6 percent in Hong Kong.
European stocks were little changed, after yesterday sliding the most in two weeks, as a selloff in auto manufacturers overshadowed results from Swiss Re Ltd. and Hermes International (RMS) SCA that beat analysts’ estimates.
PSA Peugeot Citroen SA (UG) and Valeo SA both lost more than 4.5 percent as analysts downgraded their shares. Swiss Re gained 1.9 percent after saying smaller losses from natural disasters helped net income surge in the third quarter. Hermes advanced 2 percent as sales rose because of increased demand in Asia.
The Stoxx Europe 600 Index fell 0.1 percent to 270.8 at 4:30 p.m. in London, after earlier climbing as much as 0.6 percent.
National benchmark indexes fell in 15 of the 18 western- European (SXXP) markets.
FTSE 100 5,776.05 -15.58 -0.27% CAC 40 3,407.68 -1.91 -0.06% DAX 7,204.96 -27.87 -0.39%
Greece’s ASE slumped 3.8 percent even as Prime Minister Antonis Samaras obtained a parliamentary majority for a package of austerity measures needed to release further financial aid from the European Union.
Stocks briefly declined after euro-area finance ministers were said to delay a decision on whether to provide further financial aid to Greece.
The ECB left its benchmark interest rate at a record low of 0.75 percent. Draghi reiterated that the central bank will buy the debt of countries that ask it to intervene in their bond markets.
The Bank of England held its key interest rate at a record low of 0.5 percent.
Peugeot dropped 6 percent to 4.47 euros after Citigroup Inc. lowered its recommendation for Europe’s second-biggest carmaker to sell from neutral, citing the company’s struggles with cash.
Valeo declined 4.7 percent to 33.16 euros after UBS AG downgraded France’s second-largest car-parts maker to neutral from buy, saying consensus estimates for European auto suppliers remained too high and all companies will face earnings downgrades.
Pirelli & Cie. lost 2.8 percent to 8.50 euros after brokerages including Exane BNP Paribas said the tiremaker may lower its forecasts. Exane projected sales of 6.1 billion euros ($7.8 billion) in 2012, rather than the current guidance of 6.4 billion euros.
Hermes gained 2 percent to 223.60 euros after the French maker of Birkin bags and silk scarves said third-quarter sales advanced 24 percent from a year earlier to 848.6 million euros. The average analyst’s estimates had called for 803.8 million euros. Excluding currency swings, sales rose 16 percent.
Siemens AG (SIE) added 1.8 percent to 80.27 euros after Europe’s largest engineering company announced that it plans to cut costs by 5 billion euros as it prepares for lower profit in 2013.
BTG Plc (BTG) soared 7.6 percent to 352.4 pence after the drugmaker reported first-half adjusted earnings per share of 5.6 pence, compared with 3.9 pence a year earlier. It reiterated its 2013 revenue forecast.
Major U.S. stock indexes retreated from highs, but still managed to finish in positive territory. For the week the index DOW fell 2,12%, Nasdaq fell 2,59%, S & P500 lost 2.43%.
Support indexes closing of short positions by market participants following the recent decline in anticipation of the weekend.
Positively reflected on the index published data on the index of consumer sentiment from Reuters / Michigan, which in November rose to its highest level in five years.
Despite the current rise, the mood in the markets remains negative. The focus of the market is still the problem of the "fiscal cliff" in the U.S. and the possibility of deterioration of the crisis in Europe.
On the issue of "fiscal cliff in the U.S.", today spoke on the issue, U.S. President Barack Obama and the Republican Party of the United States, John Boehner.
Most of the components of the index DOW show a positive trend. Maximum loss carry stock Walt Disney Co. (DIS, -5.81%), which exerted pressure on the quarterly report published on the eve of the company.
More than other stocks rose Boeing Co (BA, +3.01%).
All sectors of the index S & P, except one, are in the black. In the red zone is only sector utilities (-0.5%). Leading sector of industrial goods (+0.5%) and the health sector (+0.5%).
To date:
Dow +3.92 12,814.55 +0.03%
Nasdaq +9.29 2,904.87 +0.32%
S & P +2.34 1,379.85 +0.17%
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