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Analytics, News, and Forecasts for CFD Markets: stock news — 15-06-2012.
European stocks rose to the highest this month after the Bank of England announced credit-easing measures, boosting optimism central banks will take steps to stimulate the global economy.
BOE Governor Mervyn King said in a speech late yesterday that the case for more stimulus in the U.K. is growing. He also unveiled two plans to improve cash supply to the banking system.
A “funding-for-lending” program will allow banks to swap assets with the BOE for money to be loaned their customers. The central bank will also activate an unused facility to inject at least 5 billion pounds ($7.8 billion) a month into the system at a minimum rate of 25 basis points more than the benchmark interest rate, now at a record low of 0.5 percent.
National benchmark indexes advanced in all of the 18 western-European markets except Iceland. The U.K.’s FTSE 100 added 0.2 percent and Germany’s DAX rallied 1.5 percent. France’s CAC 40 climbed 1.8 percent.
Telekom Austria AG advanced 1.4 percent to 8.15 euros after America Movil agreed to acquire a 21 percent stake in the company from investor Ronny Pecik. The acquisition is part of America Movil’s strategy to establish a foothold in Europe as the debt crisis lowers the value of telecommunications assets.
U.S. stocks advanced, sending the Standard & Poor’s 500 Index toward a second weekly rally, amid speculation global central banks will take steps to boost economies as investors awaited Greek elections this weekend.
Central banks intensified warnings that Europe’s failure to tame its debt crisis threatens the economy as Greece’s election in two days looms as the next flashpoint for investors. A victory by Syriza, the party that promises to renege on Greece’s end of the bailout, could speed the nation’s exit from the euro. The Group of 20 leaders prepare to gather in Mexico next week, and U.S. policy makers meet June 19-20.
Stocks rose today even as economic data disappointed. Industrial production unexpectedly fell in May for the second time in three months as factories turned out fewer vehicles and consumer goods. Confidence among U.S. consumers declined in June to the lowest level this year. Manufacturing in the New York region expanded in June at the slowest pace in seven months.
Some of the largest companies gained today. Microsoft (MSFT), the world’s largest software maker, added 2 percent to $29.92. Dow Chemical, the biggest U.S. chemical company by revenue, increased 2.7 percent to $32.87.
Facebook rose 2.1 percent to $28.87, extending its weekly advance to 6.5 percent. The company told regulators ahead of its initial public offering that the midpoint of its proposed price range wasn’t “meaningfully different” from a $30.89 per-share fair value estimate earlier this year.
SAIC Inc. jumped 3.2 percent to $12.03. The defense contractor specializing in computer services was raised to overweight from neutral at JPMorgan Chase & Co. The 6-month share-price estimate is $13.
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U.S. stock futures advanced on speculation central banks will act to boost economies as Europe’s debt crisis threatens growth.
Equity futures pared gains as a report showed the manufacturing in the New York region expanded in June at the slowest pace in seven months as orders and sales cooled.
Global Stocks:
Nikkei 8,569.32 +0.43 +0.01%
Hang Seng 19,233.94 +425.54 +2.26%
Shanghai Composite 2,306.85 +10.90 +0.47%
FTSE 5,466.44 -0.61 -0.01%
CAC 3,066.97 +34.52 +1.14%
DAX 6,191.41 +52.80 +0.86%
Crude oil $83.77 (-0.17%)
Gold $1624.30 (+0.29%)
European stocks rose on speculation central banks will take steps to stimulate the global economy and as investors awaited the outcome of Greek elections this weekend. U.S. index futures and Asian shares gained.
FTSE 100 5,513.34 +46.29 +0.85%
CAC 40 3,065.88 +33.43 +1.10%
Xetra DAX 6,189.64 +51.03 +0.83%
Asian stocks gained, with the regional benchmark index heading for its biggest weekly advance in almost five months, as optimism that central banks from China to the U.S. will act to stimulate economic growth tempered concerns Europe’s debt crisis will worsen.
Nikkei 225 8,569.32 +0.43 +0.01%
S&P/ASX 200 4,057.33 +15.09 +0.37%
Shanghai Composite 2,306.85 +10.90 +0.47%
Agricultural Bank of China Ltd., the nation’s third-largest lender by market value, climbed 2.1 percent. Esprit Holdings Ltd. gained 9.2 percent in Hong Kong, heading for its first advance in three days, as the clothier said it will continue with its transformation strategy after both its chairman and chief executive officer quit. DeNA Co., Japan’s biggest social- gaming operator, jumped 12 percent in Tokyo after announcing plans to buy back shares.
Asian stocks fell, with the regional index heading for its third drop in five days, as Spain’s credit rating was cut and economic reports in the U.S and Europe added to concern the global economy is slowing.
Nikkei 225 8,568.89 -18.95 -0.22%
S&P/ASX 200 4,042.2 -21.59 -0.53%
Shanghai Composite 2,295.95 -22.98 -0.99%
Hutchison Whampoa Ltd., which operates ports in Germany and Spain, slid 1.5 percent in Hong Kong.
Esprit Holdings Ltd. sank 12 percent as the clothier’s chief executive officer and chairman quit within 24 hours of each other.
James Hardie Industries SE, a building-materials supplier that counts the U.S. as its biggest market, lost 2.1 percent in Sydney as retail sales in the world’s largest economy dropped.
European stocks dropped for a second day as Moody’s Investors Service downgraded Spain and Cyprus, while Switzerland’s central bank said that Credit Suisse Group AG must increase its capital this year.
Moody’s cut Spain’s rating by three steps to Baa3 from A3 late yesterday, citing the nation’s increased debt burden, weakening economy and limited access to capital markets. Moody’s also lowered Cyprus’s bond rating to Ba3 from Ba1, attributing the downgrade to the increased likelihood of Greece leaving the euro area. The country’s government may have to give more support to Cypriot banks as a consequence.
The yield on Spain’s 10-year debt rallied as high as 6.998 percent today, the highest since before the Mediterranean nation started using the euro in 1999.
Italy sold 4.5 billion euros ($5.7 billion) of debt, matching its maximum target, at an auction. The country’s Treasury sold 3 billion euros of its three-year benchmark bond to yield 5.3 percent. That compared with a yield of 3.91 percent when it last sold the securities on May 14.
National benchmark indexes gained in 10 of the 18 western- European markets today. The U.K.’s FTSE 100 dropped 0.3 percent and Germany’s DAX slipped 0.2 percent. France’s benchmark CAC 40 added 0.1 percent. Greece’s ASE Index rallied 10 percent for its biggest climb since August.
Nokia slumped 18 percent to 1.83 euros, its lowest price since 1996 and its biggest tumble since 2001. The mobile-phone maker struggling to recover lost market share predicted that second-quarter operating margins at its devices unit will worsen. The company plans to cut as many as 10,000 jobs and close facilities.
Bayerische Motoren Werke AG (BMW), the world’s biggest maker of luxury vehicles, dropped 2.6 percent to 56.29 euros. Daimler AG, the third-largest maker of luxury autos, decreased 2 percent to 33.60 euros. Morgan Stanley reduced its earnings-per-share prediction for the carmakers by 5 percent to 10 percent for 2012 to 2014.
Glencore International Plc and Xstrata Plc slipped 3.8 percent to 341.7 pence and 2.2 percent to 899.6 pence, respectively, as a gauge of mining companies lost 1.1 percent.
U.S. stocks rose, erasing most of this week’s loss in the Standard & Poor’s 500 Index, as data on inflation and jobless claims fueled bets the Federal Reserve will act to spur growth and investors awaited Greek elections.
Speculation grew that the Fed will discuss stimulus efforts at its meeting next week after reports showed jobless claims unexpectedly climbed by 6,000 to 386,000 last week and the cost of living fell by the most in more than three years.
The Labor Department reported today that the consumer price index fell 0.3 percent, more than forecast and the biggest drop since December 2008, after no change the prior month. Economists projected a 0.2 percent decrease, according to the median estimate in a Bloomberg News survey.
Home Depot (HD), the largest U.S. home-improvement retailer, climbed 2 percent to $51.97 and McDonald’s (MCD), the world’s largest restaurant chain, advanced 1.6 percent to $89.40.
International Game Technology rallied 11 percent, the most in the S&P 500, to $14.63. The maker of casino machines authorized a share buyback plan of as much as $1 billion in an effort to reward investors after a 23 percent stock drop this year.
Kroger Co. climbed 4.3 percent to $22.21. The largest U.S. grocery-store chain said profit for the year ending Jan. 31 will be as much as $2.40 a share, up from a prior forecast of as much as $2.38. Kroger also said its board approved a new $1 billion share buyback program, replacing an authorization that was exhausted on June 12.
Nikkei 225 8,568.89 -18.95 -0.22%
S&P/ASX 200 4,042.2 -21.59 -0.53%
Shanghai Composite 2,295.95 -22.98 -0.99%
FTSE 100 5,467.05 -16.76 -0.31%
CAC 40 3,032.45 +2.41 +0.08%
DAX 6,138.61 -13.88 -0.23%
Dow 12,652 +156 +1.24%
Nasdaq 2,836 +18 +0.63%
S&P 500 1,329 +14 +1.08%
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