Analytics, News, and Forecasts for CFD Markets: stock news — 13-03-2015.

Most stock indices closed higher as oil and gas shares declined.

The Greek Finance Ministry released tax revenue figures on Friday. Tax receipts accounted 121 million euros below target in February, after a 1.048 billion shortfall in January.

Overall, tax revenues came in at 7.298 billion euros in the first two months of 2015, 13.8% below a target of 8.467 billion euros, according to the Greek Finance Ministry.

The central government surplus came in at 1.243 billion euros in the first two months of 2015, below a target of 1.411 billion euros, the ministry said.

The Greek statistics service ELSTAT released GDP estimate for 2014 on Friday. Greece's economy grew by 0.8% in 2014.

GDP in real terms was 186.5 billion euros in 2014, up from 185.1 billion euros in 2013.

Indexes on the close:

Name Price Change Change %

FTSE 100 6,740.58 -20.49 -0.30 %

DAX 11,901.61 +102.22 +0.87 %

CAC 40 5,010.46 +23.13 +0.46 %

The Greek Finance Ministry released tax revenue figures on Friday. Tax receipts accounted 121 million euros below target in February, after a 1.048 billion shortfall in January.

Overall, tax revenues came in at 7.298 billion euros in the first two months of 2015, 13.8% below a target of 8.467 billion euros, according to the Greek Finance Ministry.

The central government surplus came in at 1.243 billion euros in the first two months of 2015, below a target of 1.411 billion euros, the ministry said.

The Greek statistics service ELSTAT released GDP estimate for 2014 on Friday. Greece's economy grew by 0.8% in 2014.

GDP in real terms was 186.5 billion euros in 2014, up from 185.1 billion euros in 2013.

A second estimate of GDP is scheduled to be released on October 9, according to ELSTAT.

Household spending rose 1.3%, while general government spending declined 0.9%. Investment decreased 2.2%.

Exports grew by 9%, while imports climbed by 7.4%.

Import prices dropped to an annual rate of 13.2% in January, after a 12.3 decline in December.

The EU Commission chief Jean-Claude Juncker said on Friday that he was not satisfied by results of talks between the Eurogroup of euro zone finance ministers and Greece.

He excludes a failure, and doesn't want that Greece leave the Eurozone.

The Thomson Reuters/University of Michigan preliminary consumer sentiment index dropped to 91.2 in March from a final reading of 95.4 in February, missing expectations for an increase to 95.6.

The Surveys of Consumers chief economist at the University of Michigan Richard Curtin said that the decline was a result of lower optimism among lower and middle income households, while confidence rose among households with incomes in the top third.

Mr Curtin added that "despite the small temporary setbacks, the overall level of consumer confidence remains favorable enough to support 3.3 percent growth rate in personal consumption expenditures during 2015".

A gauge of consumers' current economic conditions dropped to 103.0 in March from 106.9 in February.

The index of consumer expectations declined to 83.7 from 88.0.

The one-year inflation expectations in March climbed to 3.0% from 2.8% in February.

The U.S. Commerce Department released the producer price index figures on Friday. The U.S. producer price index fell 0.5% in February, missing forecasts of a 0.2% increase, after a 0.8% drop in January. It was the fourth straight monthly decrease.

On a yearly basis, the producer price index decreased 0.6% in February, after a flat reading in January. It was the first decline since 2009.

The decline was driven by a drop in trade services which fell 1.5% in February.

The producer price index excluding food and energy declined 0.5% in February, missing forecasts of a 0.1% decrease, after a 0.1% fall in January.

On a yearly basis, the producer price index excluding food and energy climbed 1.0% in February, after a 1.6% rise in January.

The low inflation could mean that the Fed will delay its interest rate hike, despite a strengthening labour market.

Statistics Canada released the labour market data on Friday. Canada's unemployment rate climbed to 6.8% in February from 6.6% in January. That was the highest level since September 2014.

Analysts had expected the unemployment rate to decline to 6.5%.

The number of employed people decreased by 1,000 in February, missing expectations for a gain of 21,300, after a 35,400 rise in January.

The decline was driven by job losses in the manufacturing and natural resources sector. The manufacturing sector cut 19,900 jobs in February, while natural resources lost 16,900 jobs due to lower oil prices.

The construction sector added 15,500 jobs.

Full-time employment in February rose by 34,000 jobs, while part-time work dropped by 34,900.

Self-employment grew by 3,600.

The labour participation rate rose to 65.8% in February from 65.7 in January.

The Bank of Canada monitors closely the labour participation rate.

U.S. stock-index futures fluctuated as oil prices fell and a report showed wholesale prices unexpectedly declined last month.

Global markets:

Nikkei 19,254.25 +263.14 +1.39%

Hang Seng 23,823.21 +25.25 +0.11%

Shanghai Composite 3,373.79 +24.46 +0.73%

FTSE 6,742.22 -18.85 -0.28%

CAC 4,976.36 -10.97 -0.22%

DAX 11,772.43 -26.96 -0.23%

Crude oil $46.05 (-2.17%)

Gold $1155.80 (+0.34%)

(company / ticker / price / change, % / volume)

Upgrades:

Intel (INTC) upgraded to Underperform from Sell at Credit Agricole

eBay (EBAY) upgraded from Neutral to Positive at Susquehanna, target raised from $59 to $75

Downgrades:

Other:

Google (GOOG) target raised to $681 from $640 at Cowen; Outperform

Apple (AAPL) target raised to $85 from $60 at Berenberg; Sell

Intel (INTC) reiterated at Outperform at FBR Capital, target lowered from $42 to $40

Intel (INTC) reiterated at Buy at Jefferies, target lowered from $50 to $48

BLOOMBERG

Greece Complains About Schaeuble in Deepening Conflict

(Bloomberg) -- Greece's war of words with Germany deepened as Greece renewed demands for war reparations and formally complained about Finance Minister Wolfgang Schaeuble.

Germany and Greece confirmed Thursday that the Greek ambassador in Berlin made an official protest late Tuesday to the German Foreign Ministry over comments made by Schaeuble.

Schaeuble and his Greek counterpart Yanis Varoufakis have traded barbs in recent weeks, with Schaeuble suggesting on Tuesday that Varoufakis needed to look more closely at an agreement Greece signed in February and commenting on his fellow minister's communication strategy. Schaeuble said Thursday that any suggestion he had insulted Varoufakis was "absurd."

Source: http://www.bloomberg.com/news/articles/2015-03-12/greece-complains-about-schaeuble-in-deepening-conflict

REUTERS
Oil helps Asian central banks stray from Fed's shadow

Reuters) - Asian central banks are running their own race on monetary policy for the first time in decades, cutting interest rates with a breezy confidence that is absent from other big emerging markets, thanks largely to weak oil prices.

As recently as 2013, when the U.S. Federal Reserve hinted that it would start tapering its loose money policy, which would typically suck capital out of emerging markets and into dollar assets, Asian central banks rushed to raise rates to keep hold of that money.

But now, even with a U.S. rate rise looming, central banks in the region, including those in Singapore, China, India and Indonesia, have on eight occasions this year announced unexpected easing measures.

Source: http://www.reuters.com/article/2015/03/13/us-asia-economy-policy-idUSKBN0M90A820150313

BLOOMBERG

Apple Watch Could Make Gold Cool Again

(Bloomberg) -- If anyone could make gold jewelry fashionable to Americans and Europeans, it's Apple Inc.

U.S., U.K. and Italian demand for baubles made from the metal has been cut in half over the past decade, according to data compiled by Bloomberg from the World Gold Council, as shoppers favored white-colored metals such as silver and platinum. Apple's status as the arbiter of cool means its new $10,000 gold watch and yellow iPhones and MacBooks may entice consumers to buy other gold ornaments, said Neil Meader, a precious metals consultant at Metallis Consulting Ltd.

Apple, which called gold "uniquely luxurious" in its advertising, has a history of swaying consumer tastes with its designs for touch-screen phones and portable music players. While the watch won't move the price of gold, the publicity benefits the metal that in the U.S. and Europe suffers from a reputation as old-fashioned, Meader said.

Source: http://www.bloomberg.com/news/articles/2015-03-13/apple-cool-seen-reviving-gold-s-allure-for-young-buyers-of-bling

U.S. stocks rallied on Wednesday rebounding from a two-day losing streak. The gains brought the two indices back into positive territory for the year. Mixed U.S. data led the greenback lower and tempered the outlook for an interest rate hike. The S&P 500 closed +1.26% with a final quote of 2,065.95 points. The DOW JONES index added +1.47% closing at 17,895.22 points, re-approaching the psychologically important 18,000 points mark.

Chinese stocks continued to go up on Friday. Hong Kong's Hang Seng is trading higher +0.16% at 23,836.73 points. China's Shanghai Composite closed at 3,373.79 points gaining +0.73% at the close. The governor of the People's Bank of China Zhou Xiaochuan said responding to critics on Thursday that credit funds flowing into equity markets are helpful to economic growth and that the bank endorses the flow of fund into equities.

The Nikkei posted gains on Friday and extended its 15-year high posting a fifth consecutive week of gains on upbeat sentiment. The index closed +1.39% with a final quote of 19,254.25 points. Industrial Production in January came in at +3.7%, below estimates of an unchanged reading of +4.0%. Year on year Industrial Production declined by 2.8%, more than the predicted 2.6%.

European stocks open steady on a light data day. The German DAX is heading for its 9^th weekly gain, the longest winning streak in 17 years. The weaker euro is supporting export-heavy sectors.

Worries over Greece continue to weigh but equities remain supported by the ECB's quantitative easing started on Monday. The ECB is buying bonds worth 60 billion euros a month.

The commodity heavy FTSE 100 index is currently trading -0.10% quoted at 6,754.19, down for the week. Germany's DAX 30 added +0.17% trading at 11,818.86, slightly below its all-time high set at 11,845.9. France's CAC 40 is currently trading at 4,987.67 points, +0.17%.

(index / closing price / change items /% change)

S&P/ASX 200 5,850.17 +56.97 +0.98%

TOPIX 1,546.63 +20.96 +1.37%

SHANGHAI COMP 3,349.08 +58.18 +1.77%

HANG SENG 23,805.23 +87.26 +0.37%

FTSE 100 6,761.07 +39.56 +0.59 %

CAC 40 4,987.33 -10.42 -0.21 %

Xetra DAX 11,799.39 -6.60 -0.06 %

S&P 500 2,065.95 +25.71 +1.26 %

NASDAQ Composite 4,893.29 +43.35 +0.89 %

Dow Jones 17,895.22 +259.83 +1.47 %