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Analytics, News, and Forecasts for CFD Markets: stock news — 13-11-2012.
European stocks climbed, halting a four-day decline for the benchmark Stoxx Europe 600 Index, as yields on benchmark Spanish bonds slipped amid speculation that the country’s government will soon ask for a bailout.
Euro-area finance ministers gave Greece an extra two years to cut its budget deficit to 2 percent of gross domestic product, pledging to plug the resulting financing gap to prevent the country from leaving the single currency.
Finance ministers put off until Nov. 20 a decision on how to cover additional Greek needs of as much as 32.6 billion euros ($41 billion) and left unclear whether the International Monetary Fund will continue to contribute. IMF Managing Director Christine Lagarde disagreed with a decision by the representatives of the 17-nation currency zone to postpone the goal of getting Greece’s debt down to 120 percent of GDP by two years, until 2022.
National benchmark indexes gained in 14 of 18 western- European markets today. France’s CAC 40 (CAC) rose 0.6 percent, while the U.K.’s FTSE 100 advanced 0.3 percent. Germany’s DAX climbed less than 0.1 percent.
UniCredit SpA climbed 4.4 percent to 3.52 euros. Italy’s biggest bank reported third-quarter profit that beat analysts’ estimates after a record loss a year earlier because of writedowns. Net income increased to 335 million euros, compared with a net loss of 10.6 billion euros a year earlier when the Milan-based lender booked goodwill impairments of 8.7 billion euros. Profit surpassed the 99 million-euro average estimate of 13 analysts.
EON slumped 12 percent to 14.64 euros, its biggest retreat in 20 years, after saying yesterday its forecast of 3.2 billion euros to 3.7 billion euros of underlying net income next year “no longer seems achievable” because gas-fired power plants aren’t making money. The company also said it will consider cutting dividend payments.
Vodafone slid 2.5 percent to 162.5 pence as the announcement of the 5.9 billion-pound ($9.4 billion) impairment outweighed its decision to start a 1.5 billion-pound buyback plan. Verizon Wireless will pay an $8.5 billion dividend to its co-owners, Vodafone and Verizon Communications Inc., by the end of 2012, enabling Vodafone to finance the share buyback.
K+S AG sank 4.5 percent to 34.29 euros. Europe’s largest potash maker said it expects sales and profit in 2012 to only reach the bottom of its targeted range as delays on Chinese and Indian contracts restrain market prices for fertilizer.
U.S. stock futures dropped as concern mounted that the so-called fiscal cliff will harm the economy and as euro-area finance ministers and the International Monetary Fund failed to agree on how Greece will repay its debt.
Global Stocks:
Nikkei 8,661.05 -15.39 -0.18%
Hang Seng 21,188.65 -241.65 -1.13%
Shanghai Composite 2,047.89 -31.39 -1.51%
FTSE 5,729.12 -38.15 -0.66%
CAC 3,382.73 -28.92 -0.85%
DAX 7,097.81 -70.95 -0.99%
Crude oil $84.88 -0.81%
Gold $1726.30 -0.27%
Investors reacted negatively to the decision of the eurozone finance ministers to delay the selection of Greece tranche until November 20. The country was to receive 31.5 billion euros, which would be enough to service the current debt.
Pessimism adds data on the index of business activity in the euro area and Germany from the institute ZEW. The index fell more than analysts had expected.
FTSE 100 5,722.17 -45.10 -0.78%
DAX 7,123.00 -45.76 -0.64%
CAC 3,381.85 -29.80 -0.87%
Vodaphone Group shares fell by 3.49% due to the decrease in revenues, as well as writedowns of 5.9 billion pounds ($ 9.4 billion) in Italy and Spain. Quotes Pirelli & C SpA decreased by 2.7% due to lower earnings forecast.
Asian stocks fell to a two-month led by banking shares and developers after Australia’s business confidence deteriorated and on a report China may expand a property tax trial.
Nikkei 225 8,661.05 -15.39 -0.18%
S&P/ASX 200 4,379.8 -68.23 -1.53%
Shanghai Composite 2,047.89 -31.39 -1.51%
Westpac Banking Corp. dropped 1.7 percent in Sydney.
QBE Insurance Group Ltd. sank 6.1 percent as analysts cut ratings for Australia’s biggest insurer after lowered its profit forecast.
Shimao Property Holdings Ltd. led Chinese developers lower in Hong Kong. Petrochina Co. slid 1.7 percent as oil prices declined.
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.
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.
After a positive start major U.S. stock indices fell into the red zone, the middle of trading were able to recover and finished the session in flet line.
Against the background of the celebration of Veterans Day today reduced trading activity.
The focus of the market there are two problems: the "budget break" in the U.S. and a possible Greek default.
In the U.S., it has been mentioned that this week should pass a meeting of U.S. President Obama and the leaders of the Republican and Democratic parties.
As for Greece, the Eurogroup summit is taking place today, where finance ministers could reach a preliminary agreement on the allocation of Athens next tranche of financial aid. Media published a draft report "troika" of Greece. Despite the fact that the report argues for an additional 15 billion euros to Athens until the end of 2014 and refers to the "high risk" program exit of Greece from the crisis, also noted "significant growth" performance agreements that countries receive international financial assistance.
Media also reported that the "troika" can give Greece an additional 2 years to reach the goals. This will reduce the impact of painful austerity measures.
DOW index components were mixed. Maximum loss incurred stock Microsoft (MSFT, -2.12%). Shares rose more than other United Technologies (UTX, +1.46%).
The main sectors of the S & P also showed a mixed trend. The maximum decrease in the sector and utilities (-0.8%). Lead the health sector (+0.2%).
American manufacturer of components for the aviation industry Precision Castparts has agreed to buy the company Titanium Metals, owned by billionaire Harold Simmons, for $ 2.9 billion at the news Precision Castparts shares rose by 4.9%, while Titanium Metals went into plus 42.6%.
At the close:
Dow 12,815.16 -0.23 -0.00%
Nasdaq 2,904.26 -0.61 -0.02%
S&P 500 1,380.00 +0.15 +0.01%
Change % Change Last
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%
FTSE 100 5,767.27 -2.41 -0.04%
CAC 40 3,411.65 -11.92 -0.35%
DAX 7,168.76 +5.26 +0.07%
Dow 12,815.16 -0.23 -0.00%
Nasdaq 2,904.26 -0.61 -0.02%
S&P 500 1,380.00 +0.15 +0.01%
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