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Analytics, News, and Forecasts for CFD Markets: stock news — 17-07-2012.
European stocks fell for the first time in three days as Federal Reserve Chairman Ben S. Bernanke’s testimony to Congress disappointed investors looking for him to signal fresh stimulus measures.
Recent economic data have had a “generally disappointing tone,” Bernanke said in the first of two days testifying before Congress as part of the central bank’s semiannual monetary policy report. He said the Fed is prepared to take further action “as appropriate to promote a stronger economic recovery and sustained improvement in labor market conditions in a context of price stability,” without offering any specific policy ideas.
Minutes from the Fed’s June meeting, released on July 11, showed that two participants supported additional bond purchases, while two others said only a further deterioration in the economy would warrant them.
National benchmark indexes fell in eight of the 18 western European markets today. The U.K.’s FTSE 100 (UKX) declined 0.6 percent and France’s CAC 40 slipped 0.1 percent. Germany’s DAX rose 0.2 percent.
CSR rallied 34 percent to 292 pence, the biggest increase since it sold shares in 2004. Samsung, the world’s largest mobile-phone maker, agreed to buy the company’s wireless technology unit for $310 million in cash and take a minority stake in the British chip designer.
L’Oreal increased 1.4 percent to 93.33 euros as Credit Suisse Group AG upgraded the shares to neutral from underperform.
Resistance of 3:1410 (high of May)
Resistance of 2:1375 (high of July)
Resistance of 1:1356 (area of session high and Jul 10 high, MA(100) for D1)
Current Price: 1341.00
Support 1:1330 (low of Jul 13)
Support 2:1320 (Jul 12 low, 50,0% FIBO 1265-1375)
Support 3:1307 (Jun 28 low, 61,8% FIBO 1265-1375)
U.S. stock futures rose amid bets Federal Reserve Chairman Ben S. Bernanke will hint at more stimulus during testimony to Congress.
Global Stocks:
Nikkei 8,755 +30.88 +0.35%
Hang Seng 19,455.33 +333.99 +1.75%
Shanghai Composite 2,161.19 +13.23 +0.62%
FTSE 5,643.94 -18.49 -0.33%
CAC 3,194.45 +14.55 +0.46%
DAX 6,596.06 +30.34 +0.46%
Crude oil $89.01 (+0,66%)
Gold 0.26% $1587.50
Walt Disney (DIS) was upgraded to a Buy from Neutral at Bank of America Merrill.
Home Depot (HD) was downgraded to a Neutral from Buy at Janney Capital Markets.
Data
01:30 Australia RBA Meeting's Minutes
01:30 Australia New Motor Vehicle Sales (MoM) June +2.4% -0.6%
01:30 Australia New Motor Vehicle Sales (YoY) June +22.4% +18.4%
08:30 United Kingdom HICP, m/m June -0.1% -0.1% -0.4%
08:30 United Kingdom HICP, Y/Y June +2.8% +2.7% +2.4%
08:30 United Kingdom HICP ex EFAT, Y/Y June +2.2% +2.3% +2.1%
08:30 United Kingdom Retail Price Index, m/m June 0.0% 0.0% 0.0%
08:30 United Kingdom Retail prices, Y/Y June +3.1% +3.0% +2.8%
08:30 United Kingdom RPI-X, Y/Y June +3.1% +3.1% +2.8%
09:00 United Kingdom BOE Gov King Speaks -
09:00 Germany ZEW Survey - Economic Sentiment July -16.9 -14.5 -19.6
09:00 Eurozone ZEW Economic Sentiment July -20.1 -18.3 -22.3
09:30 United Kingdom BOE Inflation Letter July
During the session, the dollar declines against the euro amid speculation that Federal Reserve Chairman Ben Bernanke will hint at an additional stimulus in his speech, which will be held today. Bernanke will deliver a semi-annual report on the economy and monetary policy. The U.S. currency fell against most major fall after retail sales unexpectedly yesterday. Also negative for the dollar has added the statement made by the Federal Reserve of Kansas City Esther George, who said that the U.S. economy probably will not grow much faster than 2% this year.
Recall that Bernanke's policies after the last Fed meeting, which took place on June 20 said: "If we do not see a further improvement in the labor market, we are ready to take additional measures if necessary. Additional asset purchases will be among the measures that we will certainly
The euro showed growth against the euro during the session, but declined after weak data out of sentiment index in the business environment of the institute ZEW, which fell to -19.6 in July to -16.9 in June.
The yen declined during the session against the dollar, after three days of growth. This was due to the fact that the Minister of Finance of Japan, Azumi said that foreign exchange earnings were "speculative" and officials are ready to take decisive action if we must.
Australian dollar during the session, trading in narrow range after significant growth in the early afternoon, which was caused by the publication of minutes of meetings of the Reserve Bank of Australia
EUR/USD: during the European session, the pair rose to 1.2315 level, followed by a slight decrease
GBP/USD: pair fell to a value of 1.516, then increased slightly
USD/JPY: during the session, the pair shows a steady growth and is now trading near the level of Y79, 10/15
At 12:30 GMT, Canada will announce the change of volume of production for May delivery. At 12:30 GMT the U.S. will release data on consumer price index for June, the consumer price index excluding prices for food and energy prices in June, the Consumer Price Index (not seasonally adjusted) in June, and the main consumer price index for June. At 13:00 GMT, Canada will announce a decision on the basic interest rate. At the same time released a statement accompanying the Bank of Canada. At 13:00 GMT the U.S. to account for the change in net purchases of long-term U.S. securities by foreign investors in May and the total net purchases of U.S. securities by foreign investors in May. At this time,
13:15 GMT U.S. will publish a capacity utilization for June, and will report a change in the volume of industrial production for June and the change in volume of crude oil, according to the API for July. Finish the day at 23:50 GMT Japanese publishing meeting minutes of the Bank of Japan on monetary policy for July.
Johnson & Johnson (JNJ): Q2 EPS of $1.30 vs cons $1.29. Revenue of $16.5B (-0.7% Y/Y). Shares -1.10% premarket.
Coca-Cola (KO): Q2 EPS of $1.22 vs cons $1.19. Revenue of $13.08B (+3% Y/Y). Shares +0.64% premarket.
Goldman Sachs (GS): Q2 EPS of $1.78 vs cons $1.18. Revenue of $6.62B. Shares +1.76% premarket.
European markets were trading in the green zone amid speculation about stimulating the economy by the Fed.
The two-day performance of Ben Bernanke is scheduled for today and tomorrow. Semi-annual report will be submitted to the Federal Reserve on the economy and monetary policy. Expected to be announced more radical monetary stimulus measures and support the economy.
Today we have published data on the index of sentiment in the business environment of the ZEW institute in July. In German figure was -19.6 (-14.5 at the forecast), -22.3 for the euro area (the forecast of -18.3).
At the moment:
FTSE 100 5,648.86 -13.57 -0.24%
CAC 40 3,194.68 +14.78 +0.46%
DAX 6,594.12 +28.40 +0.43%
Shares of Barclays and Lloyds Banking Group rose 0.92% and 0,23%, Societe Generale and BNP Paribas - 1.14% and 0.63%, paper, Deutsche Bank and Commerzbank fell 0.63% and 0.65 %.
Shares of chipmaker CSR soared by 37.1% due to Samsung Electronics plans to buy mobile business CSR approximately $ 300 million
Asian stocks rose for a third day amid optimism policy makers from China to the U.S. will do more to support the world’s largest economies amid a slowdown that prompted the International Monetary Fund to cut its forecast for global growth.
Nikkei 225 8,755 +30.88 +0.35%
Hang Seng 19,460.48 +339.14 +1.77%
S&P/ASX 200 4,140.8 +35.70 +0.87%
Shanghai Composite 2,161.19 +13.23 +0.62%
China Railway Group Ltd. rose 4.4 percent in Hong Kong after the government said it will boost spending on rail lines.
Fraser & Neave Ltd. jumped 4.4 percent in Singapore after Oversea-Chinese Banking Corp. and its insurance unit received an offer for their stake in the beverage maker.
JX Holdings Inc sank 6 percent in Tokyo after saying it will shut of one of its refineries after finding falsified safety reports.
Asian stocks rose after Premier Wen Jiabao said China will increase measures to support growth in the world’s second-largest economy. Gains were limited amid concern about falling profits for Asian companies.
Nikkei 225 8,724.12 +4.11 +0.05%
S&P/ASX 200 4,105.1 +22.85 +0.56%
Shanghai Composite 2,147.96 -37.93 -1.74%
Guangzhou R&F Properties Ltd., a developer in the southern Chinese city, advanced 4.9 percent in Hong Kong.
Whitehaven Coal Ltd. soared 18 percent after Australian mining magnate Nathan Tinkler offered to buy out the rest of the coal producer.
Daekyung Machinery & Engineering Co. fell 8.3 percent in Seoul after a shipmaker dropped its bid for the chemical machinery maker.
ZTE Corp., a Chinese telecommunications equipment maker, slumped 16 percent after saying first-half profit may plunge 80 percent.
European stocks rose for a second day, extending the Stoxx Europe 600 Index’s longest stretch of weekly gains in more than two years, as manufacturing in the New York region expanded more than forecast.
German Chancellor Angela Merkel said yesterday she hadn’t softened her stance at last month’s summit in Brussels and that a so-called banking union involving a bloc-wide financial overseer will have to include joint oversight on a “new level.”
National benchmark indexes rose in 11 of the 18 western European markets today. Sweden’s OMX Stockholm 30 increased 0.7 percent and Germany’s DAX climbed 0.1, while the U.K.’s FTSE 100 and France’s CAC 40 fell less than 0.1 percent.
SEB rallied 8.2 percent to 49 kronor, the biggest increase since May 2010. The Stockholm-based bank said second-quarter net income declined to 3.01 billion kronor ($427 million) from 3.36 billion kronor a year earlier, exceeding the average estimate of 13 analysts.
G4S slid 8.7 percent to 254.6 pence as the company estimated its loss on the Olympics contract will be 35 million pounds to 50 million pounds. The U.K. government had to assign 3,500 extra soldiers to Olympic venues last week as G4S said it couldn’t train enough guards.
U.S. stocks fell, dragging the Standard & Poor’ 500 Index lower for the seventh time in eight days, after the International Monetary Fund cut its global economic forecast and retail sales unexpectedly dropped.
U.S. retail sales dropped 0.5 percent in June, following a 0.2 percent decrease in May, Commerce Department figures showed today. The decline was worse than the most-pessimistic forecast in survey in which the median projection called for 0.2 percent rise.
The IMF cut its 2013 global growth forecast as Europe’s debt crisis prolongs Spain’s recession and slows expansions in emerging markets. Growth worldwide will be 3.9 percent next year, less than the 4.1 percent estimate in April, the fund predicted in an update of its World Economic Outlook.
JPMorgan Chase, the largest U.S. bank by assets, fell 2.7 percent to $35.09 after rallying 6 percent on July 13 as Chief Executive Officer Jamie Dimon predicted the company will still post record earnings this year despite a $4.4 billion trading loss in the second quarter.
Citigroup Inc., the third-biggest U.S. bank, advanced 0.6 percent to $26.81 after reporting second-quarter profit that beat analysts’ estimates on revenue from advising on mergers and underwriting stocks and bonds.
Gannett Co., the owner of 82 daily newspapers including USA Today, rallied 2.7 percent to $14.69. The company reported second-quarter profit that topped analysts’ estimates, bolstered by growing Internet revenue. Excluding some items, profit was 56 cents a share in the period, beating the 53-cent average estimate by analysts.
Change % Change Last
Nikkei 225 8,724.12 +4.11 +0.05%
S&P/ASX 200 4,105.1 +22.85 +0.56%
Shanghai Composite 2,147.96 -37.93 -1.74%
FTSE 100 5,662.43 -3.70 -0.07%
CAC 40 3,179.9 -0.91 -0.03%
DAX 6,565.72 +8.62 +0.13%
Dow 12,727 -50 -0.39%
Nasdaq 2,897 -12 -0.40%
S&P 500 1,354 -3 -0.23%
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