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Analytics, News, and Forecasts for CFD Markets: stock news — 13-07-2012.
European stocks rose for a sixth week as China’s slowest expansion in three years fueled speculation policy makers will add to stimulus measures and Italy’s borrowing costs fell at an auction.
Storebrand ASA (STB), Norway’s second-largest publicly traded insurer, rallied 8.2 percent after saying it will meet capital requirements without selling shares. Temenos Group AG (TEMN) rebounded 5.9 percent. PSA Peugeot Citroen (UG) slumped to the lowest price since at least 1989 over concerns that the French government may step in after Europe’s second-largest carmaker announced plans to close a factory and cut jobs.
The Stoxx Europe 600 Index added 1.3 percent to 256.26 at the close of trading.
National benchmark indexes gained in all of the 18 western- European (SXXP) markets except Iceland.
FTSE 100 5,666.13 +57.88 +1.03% CAC 40 3,180.81 +45.63 +1.46% DAX 6,557.1 +137.75 +2.15%
Italian borrowing costs fell at an auction today, hours after Moody’s Investors Service downgraded the country’s bond rating by two levels to Baa2 from A3 and reiterated its negative outlook, citing the worsening political and economic situation.
Storebrand, Norway’s second-largest publicly traded insurer, rallied 8.2 percent to 24.01 kroner. The company said it will cut costs by at least 400 million kroner ($66 million) by 2014 and meet stricter European capital requirements without selling new shares.
Temenos Group AG gained 5.9 percent to 10.85 francs. The banking-software maker plunged the most in 3 1/2 years yesterday as it cut its revenue-growth forecast and said its chief executive officer will step down.
Deutsche Telekom AG (DTE) gained 5.7 percent to 9.18 euros after Credit Suisse Group AG raised its rating on the company’s shares to neutral from underperform.
Elisa Oyj (ELI1V), Finland’s largest wireless carrier by subscribers, jumped 5.7 percent to 16.80 euros as second-quarter sales of 389 million euros beat the average 384.2 million-euro analyst estimate.
Nokia Oyj (NOK1V) fell 2.5 percent to 1.51 euros after the mobile- phone maker struggling to recover lost market share said it will close two of its four regional distribution centers in China as part of a restructuring plan it announced last month to halt mounting losses from plunging smartphone sales. Nokia on June 14 said it would cut as many as 10,000 jobs globally and close facilities.
Deutsche Bank AG slipped 1.9 percent to 25.60 euros and Bankia SA declined 7 percent to 65.1 euro cents.
Booker Group Plc (BOK), the largest U.K. food wholesaler, slumped 2.6 percent to 88.95 pence after Shore Capital Group Ltd. cut the stock to sell from hold.
Resistance of 3:1375 (high of July)
Resistance of 2:1356 (Jul 10 high)
Resistance of 1:1349 (MA (200) for H1)
Current Price: 1344.00
Support 1:1330 (session lows)
Support 2:1320 (Jul 12 low, 50,0% FIBO 1265-1375)
Support 3:1307 / 02 (MA (200) for D1, Jun 25-26 lows, 61,8% FIBO 1265-1375)
U.S. stock futures rose as slowing expansion in China fueled speculation policy makers will boost stimulus measures.
Global Stocks:
Nikkei 8,724.12 +4.11 +0.05%
Hang Seng 19,092.63 +67.52 +0.35%
Shanghai Composite 2,185.9 +0.40 +0.02%
FTSE 5,633.54 +25.29 +0.45%
CAC 3,144.97 +9.79 +0.31%
DAX 6,474.94 +55.59 +0.87%
Crude oil $86.72 (+0,74%)
Gold $1581.80 (1.05%)
European stocks gained as China reported the slowest expansion in three years, fueling speculation policy makers will add to stimulus measures. China’s growth slowed for a sixth quarter to the weakest pace since the global financial crisis, putting pressure on Premier Wen Jiabao to boost stimulus to secure a second-half economic rebound.
Gross domestic product expanded 7.6 percent last quarter from a year earlier, the National Bureau of Statistics said today. The pace, a three-year low, compares with an 8.1 percent gain in the previous period and the 7.7 percent median forecast of economists. Industrial production increased at a slower pace in June while retail sales growth decelerated.
Italy today auctions as much as 5.25 billion euros ($6.4 billion) of a new three-year bond and three longer-dated securities. Moody’s Investors Service cut the country’s bond rating and reiterated its negative outlook, as the euro area’s third-biggest economy faces higher funding costs, slower growth, and contagion risk from Greece and Spain.
The ratings company lowered Italy’s rating by two steps to Baa2 from A3 and said further downgrading is possible, according to a statement released in Frankfurt today. That makes Italy’s grade the same as those of Kazakhstan, Bulgaria and Brazil.
Storebrand, Norway’s second-largest publicly traded insurer, rallied 8 percent to 24 kroner. The company said it will cut costs by at least 400 million kroner ($66 million) by 2014 and meet stricter European capital requirements without selling new shares.
FTSE 100 5,642.71 +34.46 +0.61%
CAC 40 3,149.48 +14.30 +0.46%
DAX 6,468.31 +48.96 +0.76%
Asian stocks rose, with the benchmark index poised to snap six days of losses, on speculation policy makers will do more to support growth after China reported the slowest expansion in three years, South Korea cut its outlook and Singapore said its economy shrank.
Nikkei 225 8,724.12 +4.11 +0.05%
Hang Seng 19,092.63 +67.52 +0.35%
S&P/ASX 200 4,082.25 +14.28 +0.35%
Shanghai Composite 2,185.9 +0.40 +0.02%
Hyundai Motor Co., South Korea’s biggest carmaker, rose 3.4 percent after workers agreed to resume wage negotiations, averting a threatened a strike.
Belle International Holdings Ltd., a women’s shoe retailer that gets most of its revenue from China, climbed 3.8 percent in Hong Kong after reporting sales jumped.
Dentsu Inc., a Japanese advertising company, sank 7 percent after agreeing to buy Britain’s Aegis Group Plc.
Chinese airlines rose after the Shanghai Daily reported the government may set up investment companies to buy airline stakes
Asian stocks fell for a sixth day as concern over a global slump overshadowed moves by central banks in Japan and South Korea to buoy economic growth. Hong Kong stocks slid ahead of a report from China expected to show the slowest expansion since the financial crisis.
Nikkei 225 8,720.01 -130.99 -1.48%
S&P/ASX 200 4,067.97 -28.57 -0.70%
Shanghai Composite 2,185.49 +10.11 +0.46%
Asahi Glass Co. led Japanese makers of the material lower after cutting its operating profit forecast by almost a third.
Hyundai Motor Co. fell 3.1 percent as its workers threatened to strike.
Infosys Ltd., India’s second-biggest exporter of software, slid 8.9 percent after cutting a sales forecast.
China Construction Bank Corp. paced declines among mainland lenders.
European stocks declined the most in more than two weeks as minutes released by the Federal Reserve disappointed investors seeking a more definitive signal for further quantitative-easing measures.
Temenos Group AG plunged 28 % to a three-year low after reducing its estimate for 2012 revenue growth and saying its chief executive officer quit. Ashmore Group Plc (ASHM) dropped 6.7 % after the fund manager reported a drop in assets. Aegis Group Plc surged 45 %, the most in 21 years, after Japan’s Dentsu Inc. agreed to buy the company.
The Stoxx Europe 600 Index (SXXP) fell 1.1 % to 252.89 at the close in London, the biggest retreat since June 25. The benchmark measure has retreated 0.6 % this week, after a five-week rally, as concern mounted the slowing economic growth will curb earnings in the U.S. and Europe.
National benchmark indexes fell in 16 of the 18 western European markets.
FTSE 100 5,608.25 -56.23 -0.99% CAC 40 3,135.18 -22.07 -0.70% DAX 6,419.35 -34.50 -0.53%
Temenos (TEMN) declined 28 % to 10.25 Swiss francs, the lowest price and the biggest decrease since the first quarter of 2009, after reducing its forecast for 2012 revenue growth to a range of minus 5 % to plus 1 %, compared with an earlier forecast of minus 5 % to plus 6 %. The company also said CEO Guy Dubois will step down for personal reasons and be replaced by David Arnott, who’s currently the chief financial officer.
Cap Gemini SA (CAP), France’s biggest computer-services company, declined 2.9 % to 26.23 euros.
Infosys Ltd. (INFY), India’s second-biggest software exporter, cut its sales forecast and reported fiscal first-quarter profit that missed estimates.
Ashmore tumbled 6.7 % to 307.8 pence, the lowest since October. The U.K. fund manager said assets under management fell 3.3 % to $63.7 billion in the fourth quarter.
A gauge of mining companies fell 2.8 % for the worst performance among the 19 industry groups on the
BHP Billiton, the world’s largest mining company, lost 3.3 % to 1,751 pence. The stock was cut to neutral from outperform at Credit Suisse Group AG.
Aegis Group surged 45 % to 235.3 pence, the biggest jump since at least January 1991. Dentsu, a Japanese advertising company agreed to buy Aegis in a deal valued at about 3.16 billion pounds ($4.9 billion).
SAP AG (SAP) advanced 2.7 % to 47.50 euros, erasing earlier losses, after the biggest maker of business-management software reported second-quarter software license sales that topped analysts estimates.
U.S. stock indexes ended the session in negative territory on the eve of the background of published minutes of the last meeting of the Fed's open market in which market participants could not find signal, indicating an increase chances for additional incentives from the Federal Reserve.
The pressure on the indices have concerns of market participants about slowing economic growth and expectations of poor results from the companies on the basis of reports of the season.
Warren Buffett, chairman of Berkshire Hathaway Inc, said today that "U.S. growth is slowing, even despite the fact that the housing market is showing signs of recovering." Buffett also said that the U.S. unemployment rate will remain above 8% in the next three years or more.
Analysts at Bank of America lowered its forecast for earnings of companies whose shares are included in the index S & P, up 1.4%. Reason for the decline is the fall in commodity prices and the worsening global growth prospects.
As part of DOW index most of the components are in red. The maximum loss of stocks demonstrate Intel (INTC, -2.36%) and Microsoft Corporation (MSFT, -2.05%), which had a pressure on the message from Gartner's isledovatelskoy of the fall in PC sales in the second quarter sales.
The substantial increase in the index stocks show DOW Merck & Co. Inc. (MRK, +4.39%) and Procter & Gamble Co. (PG, +4.15%).
Branches in the context of the S & P 500 most of the sectors show a negative trend. The maximum loss demonstrates the technology sector (-0.9%). The greatest growth shows the health sector (0.3%)
At the time of closure:
Dow 12,574.48 -30.05 -0.24%
Nasdaq 2,866.19 -21.79 -0.75%
S & P 500 1,334.86 -6.59 -0.49%
Change % Change Last
Nikkei 225 8,720.01 -130.99 -1.48%
S&P/ASX 200 4,067.97 -28.57 -0.70%
Shanghai Composite 2,185.49 +10.11 +0.46%
FTSE 100 5,608.25 -56.23 -0.99%
CAC 40 3,135.18 -22.07 -0.70%
Xetra DAX 6,419.35 -34.50 -0.53%
Dow 12,574.48 -30.05 -0.24%
Nasdaq 2,866.19 -21.79 -0.75%
S&P 500 1,334.86 -6.59 -0.49%
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