Analytics, News, and Forecasts for CFD Markets: stock news — 15-05-2012.

European stocks dropped for a second day, pushing the Stoxx Europe 600 Index to its lowest level since December, as Greece called a new election after the country’s politicians failed to form a government.

Greece will hold its new vote as early as next month as polls showed that the anti-austerity Syriza group could win the ballot. The failure to form a government committed to austerity has reignited concern that the country will leave the euro area.

Gross domestic product in the 17-nation euro area stagnated in the first quarter compared with the final three months of 2011, according to the European Union’s statistics office in Luxembourg. The median forecast of economists had called for a 0.2 percent contraction. Germany’s economy expanded 0.5 percent, compared with the 0.1 percent median estimate of economists in a separate survey.

National benchmark indexes fell in every western-European market except Norway and Ireland. The U.K.’s FTSE 100 lost 0.5 percent and France’s CAC 40 lost 0.6 percent. Germany’s DAX retreated 0.8 percent. Greece’s ASE Index plunged 3.6 percent to its lowest level since November 1992.

UniCredit SpA and Intesa Sanpaolo SpA, the biggest Italian lenders, declined 5.5 percent to 2.53 euros and 5.5 percent to 97.65 euro cents, respectively, after Moody’s Investors Service cut the credit ratings of 26 of the nation’s lenders, citing weakened earnings and the domestic economic outlook.

Vivendi SA  added 2 percent to 12.68 euros after reporting profit that exceeded analysts’ estimates. First-quarter net income, excluding one-off gains or losses and some costs, fell 13 percent to 823 million euros. That beat the 765 million-euro average of analyst estimates.

U.S. stocks rose, sending the Standard & Poor’s 500 Index up from a three-month low, after better-than-forecast economic data offset Greece’s struggle to form a new government as the nation planned new elections.

Equities swung between gains and losses as investors weighed better-than-estimated reports on manufacturing in the New York region and confidence among U.S. homebuilders, while concern grew about Greece leaving the euro. Alexis Tsipras, Greek Syriza party leader, said he wants a left-wing government to emerge from new elections and that his refusal to join a pro- bailout unity government was done out of respect for Greeks.

Groupon surged 16 percent to $13.67. The coupon site is attempting to rebuild investor confidence after shares dropped more than 40 percent since its November initial public offering, one of the worst public market debuts for a Web company since the dot-com crash.

Amazon gained 3.1 percent to $229.76. The world’s largest Internet retailer was raised to outperform from neutral at Credit Suisse, which cited the potential for wider margins. The rating means that the stock’s total return is expected to outperform the relevant benchmark by at least 10 percent over the next 12 months.

Avon tumbled 12 percent to $18.53. Coty, the maker of perfumes by Beyonce Knowles and Heidi Klum, said attempts to speak to Avon board members, including Chairman Andrea Jung and Chief Executive Officer Sheri McCoy, failed after it received a two-sentence e-mail requesting a deadline extension.

Home Depot (HD) slumped 2.3 percent to $48.76. Warmer-than- normal temperatures accelerated sales of outdoor items, raising concern that second-quarter sales would slow. Same-store sales decelerated during the course of the first quarter, rising 5.4 percent in April after advancing 6 percent in March and 6.2 percent in February, Chief Financial Officer Carol Tome told analysts today.

Resistance 3:1363 (area of May 10-11 highs)

Resistance 2:1356 (resistance line from May 7)

Resistance 1:1347 (session high)

Current price: 1339,75

Support 1:1330 (38,2 % FIBO 1197-1420)

Support 2:1300 (area of 50,0 % FIBO 1197-1420, psychological level)

Support 3:1296 (Jan 30 low)

US futures fell after Greek anti-bailout Conservative Kammenos saying there is no deal on government.

Global Stocks:

Nikkei  8,900.74 -73.10 -0.81%

Hang Seng 19,894.31 +159.27 +0.81%

S&P/ASX  4,266.28 -30.72 -0.71%

Shanghai Composite 2,374.84 -5.88 -0.25%

FTSE  5,431.3 -34.22 -0.63%

CAC  3,035.47 -22.52 -0.74%

DAX 6,397.99 -53.98 -0.84%

Crude oil $94.66 (-0.13%).

Gold $1557.70 (-0.21%).

Asian stocks fell as the political impasse in Greece added to speculation the nation will leave the euro union and Moody’s Investors Service downgraded Italian banks ahead of a report that may show Europe’s economy shrank.

Nikkei 225 8,900.74 -73.10 -0.81%

S&P/ASX 200 4,266.3 -30.69 -0.71%

Shanghai Composite 2,361.17 -19.56 -0.82%

Nippon Sheet Glass Co., a glassmaker that counts Europe as its No. 1 market, slumped 1 percent in Tokyo after saying it may continue to suspend some production in Europe this year on slumping demand.

BHP Billiton Ltd., the world’s largest mining company, declined 2.2 percent in Sydney after metal prices fell.

China Overseas Land & Investment Ltd., the mainland’s biggest developer by market value, fell 1 percent in Hong Kong after a report Shanghai tightened home-purchase restrictions.

Asian stocks ended session mixed as speculation heightened Greece may exit from the single European currency, countering China’s efforts to shore up economic growth by cutting the level of cash banks must set aside as reserves.

Nikkei  8,973.84 +20.53 +0.23%

S&P/ASX  4,297 +11.93 +0.28%

Hang Seng 19,742.39 -222.24 -1.11%

Shanghai Composite 2,380.73 -14.26 -0.60%

Change % Change Last

Nikkei  8,973.84 +20.53 +0.23%

S&P/ASX  4,297 +11.93 +0.28%

Hang Seng 19,742.39 -222.24 -1.11%

Shanghai Composite 2,380.73 -14.26 -0.60%