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Analytics, News, and Forecasts for CFD Markets: stock news — 17-12-2012.
European stocks were little changed as concern U.S. lawmakers won’t agree on a budget before the holiday offset the election in Japan of a party that backs more economic stimulus.
Royal KPN NV slumped 15 percent as the Dutch phone company partly owned by Carlos Slim’s America Movil SAB scrapped its dividend. Aggreko Plc, the world’s largest provider of mobile power supplies, slumped the most in more than 10 years after saying earnings will be “slightly lower” next year. PSA Peugeot Citroen gained 6.4 percent as Europe’s second-biggest carmaker said it is close to finalizing a deal with lenders to refinance debt at its banking unit.
The Stoxx Europe 600 Index (SXXP) retreated 0.1 percent to 279.18 at the close of trading, after earlier falling as much as 0.5 percent.
National benchmark indexes rose in 10 of the 18 western European markets.
FTSE 100 5,912.15 -9.61 -0.16% CAC 40 3,638.1 -5.18 -0.14% DAX 7,604.94 +8.47 +0.11%
KPN (KPN) slumped 15 percent to 3.94 euros, its biggest decline in 11 years. The company cut its dividend as it spent 1.35 billion euros to buy frequencies for faster mobile networks. HSBC Holdings Plc. cut its recommendation on the stock to underweight, a rating similar to sell, from neutral, and forecast a target price of 4 euros for KPN’s shares.
Aggreko sank 22 percent to 1,664 pence, its steepest drop since June 2002. Chief Executive Officer Rupert Soames said the company is facing the same conditions as in 2008 when it suffered a “pretty sharp” drop-off in orders for four quarters.
Vodafone Group Plc (VOD) slipped 1.7 percent to 158.2 pence. Deutsche Telekom AG lost 0.3 percent to 8.52 euros. Tele2 AB retreated 1 percent to 117.40 kronor. All three companies participated in the Dutch government’s spectrum auction, with Vodafone paying 1.4 billion euros and T-Mobile paying 911 million euros, according to the government.
UBS AG (UBSN) lost 0.5 percent to 14.97 Swiss francs, after earlier dropping as much as 1.5 percent. The Zurich-based bank is set to pay as much as $1.6 billion to settle claims of Libor manipulation by the U.S. Justice Department, the Commodity Futures Trading Commission, the U.K. Financial Services Authority and the Swiss Financial Market Supervisory Authority, said a person familiar with the probes.
PSA Peugeot Citroen (UG) gained 6.4 percent to 5.60 euros as the carmaker said it is close to finalizing a deal with a pool of banks to refinance debt at its banking unit.
Centamin Plc (CEY) surged 22 percent to 42.14 pence after the gold producer said that exports from its Sukari mine in Egypt have resumed. Centamin said production will restart within the next few days.
U.S. stock-index futures advanced, indicating the Standard & Poor’s 500 Index will snap a two-day drop, as investors weighed prospects for a budget deal.
Obama and House Speaker John Boehner haven’t reached a deal with two weeks remaining to avert more than $600 billion in automatic spending cuts and tax increases, known as the fiscal cliff, set to start in January. The Congressional Budget Office has said a failure to prevent those changes may lead to a recession in the first half of 2013.
Global Stocks:
Nikkei 225 9,828.88 +91.32 +0.94%
S&P/ASX 200 4,573.4 -9.71 -0.21%
Shanghai Composite 2,160.34 +9.72 +0.45%
FTSE 100 5,891.55 -30.21 -0.51%
CAC 40 3,629.73 -13.55 -0.37%
DAX 7,587.39 -9.08 -0.12%
Oil $86.90 +0.17 +0.20%
Gold $1,697.50 +0.50 +0.03%
European stocks declined for a third day as concern U.S. lawmakers won’t agree on a budget before the holiday offset the election in Japan of a party that backs more economic stimulus. U.S. futures and Asian shares were little changed.
U.S. lawmakers continue to discuss a budget deal to avoid the so-called fiscal cliff, the more than $600 billion in automatic tax increases and spending cuts due to take effect next year.
Japan’s Liberal Democratic Party reclaimed power three years after surrendering half a century of control. The victory of Shinzo Abe’s party gives him a mandate to implement fiscal and monetary stimulus plans.
KPN slumped 12 percent to 4.08 euros, its biggest decline in more than four years. The company cut its dividend as it spent 1.35 billion euros to buy frequencies for faster mobile networks. KPN said Dec. 14 that it won’t pay a final dividend for 2012, after its 12-cent interim dividend, and that next year’s payout will be 3 cents a share. That compares with a previous plan to pay 35 cents a share for this year and at least the same amount for 2013.
UBS lost 1.3 percent to 14.85 Swiss francs. The Zurich- based bank is set to pay as much as $1.6 billion to settle claims of Libor manipulation by the U.S. Justice Department, the Commodity Futures Trading Commission, the U.K. Financial Services Authority and the Swiss Financial Market Supervisory Authority, said a person familiar with the probes.
PSA Peugeot Citroen, which rallied 16 percent for the biggest gain on the Stoxx 600 last week, gained 2.1 percent to 5.37 euros as the carmaker said it is close to finalizing a deal with a pool of banks to refinance debt at its banking unit.
FTSE 100 5,884.6 -37.16 -0.63%
CAC 40 3,618.84 -24.44 -0.67%
DAX 7,576.91 -19.56 -0.26%
Asian stocks fell, with the regional benchmark index poised to snap its longest rally since 2004, as suppliers to Apple Inc. dropped. Losses were limited as Japanese shares jumped after a party that backs more economic stimulus returned to power.
Nikkei 225 9,828.88 +91.32 +0.94%
S&P/ASX 200 4,573.4 -9.71 -0.21%
Shanghai Composite 2,160.34 +9.72 +0.45%
Hon Hai Precision Industry Co. fell 4.7 percent in Taipei, pacing losses among suppliers to Apple Inc., which had its rating cut at Citigroup Inc.
Nissan Motor Co., Japan’s second- largest carmaker by revenue, rose 1.8 percent as the yen slid to the lowest level since April 2011 against the dollar.
Tokyo Electric Power Co. surged 33 percent on speculation Japan’s new government will allow the restart of nuclear reactors.
Asian stocks swung between gains and losses after surveys showed China’s manufacturing may accelerate this month and pessimism among Japanese producers increased. Shares in China surged by the most since January.
Nikkei 225 9,737.56 -5.17 -0.05%
S&P/ASX 200 4,583.11 +0.32 +0.01%
Shanghai Composite 2,149.77 +88.30 +4.28%
Agricultural Bank of China Ltd., the nation’s No. 3 lender, climbed 1.9 percent in Hong Kong.
Gome Electrical Appliances Holding Ltd. jumped 7.2 percent after the Chinese retailer was rated new buy at Citigroup Inc.
Largan Precision Co., a supplier of camera lenses to Apple Inc., sank 6.9 percent in Taipei on speculation shipments will slow.
European stocks closed little changed as investors watched U.S. lawmakers debate a new budget agreement to avoid automatic tax increases and spending cuts in the world’s largest economy.
U.S. President Barack Obama and House Speaker John Boehner met yesterday to discuss averting more than $600 billion of spending cuts and tax increases before a year-end deadline, with no public announcement of progress.
Industrial production in the world’s largest economy increased 1.1 percent in November, after a revised 0.7 percent drop the previous month, the Federal Reserve said today. That beat the median forecast that called for a 0.3 percent gain.
In China, a report showed manufacturing may expand at a faster pace this month. The December preliminary reading was 50.9 for a purchasing managers’ index released today by HSBC Holdings Plc and Markit Economics. That compares with the 50.8 median projection. The Shanghai Composite Index jumped the most since October 2009 also on speculation that state-backed institutions were buying shares.
In the euro area, a preliminary report showed that a measure of manufacturing climbed to 46.3 in December, up from 46.2 in the previous month. A composite index that also includes services jumped to 47.3 this month, the highest since March, from 46.5 in November. A reading below 50 means contraction.
FTSE 100 5,921.76 -7.85 -0.13%, CAC 40 3,643.28 +0.15 0.00%, DAX 7,596.47 +14.49 +0.19%
Fiat SpA, which owns 58.5 percent in Chrysler Group LLC, dropped 1.9 percent to 3.63 euros. Il Messaggero reported that Chief Financial Officer Richard Palmer held meetings with banks on a possible capital increase to fund its acquisition of the remaining 41.5 percent of Chrysler.
Alcatel-Lucent rallied 7 percent to 91.3 euro cents after saying it will get a $2.1 billion multiyear financing commitment from Goldman Sachs and Credit Suisse. The deal “provides stabilization and enhances Alcatel-Lucent’s liquidity profile,” the company said.
Akzo Nobel advanced 7.1 percent to 48.70 euros, the biggest jump since September 2011, after PPG Industries agreed to buy its North American decorative-paints business for $1.05 billion.
ProSiebenSat.1 Media AG rallied 1.8 percent to 23.66 euros after Discovery Communications Inc. agreed to buy the German broadcaster’s northern European assets.
Major U.S. stock indexes spent almost all trading in negative territory due to the fact that the favorable regional statistics and encouraging economic data from China are not able to offset a significant drop in prices of high-tech giant Apple and lack of progress in the negotiations on the budget issue.
In the U.S., the White House and Congressional leaders are still unable to reach a compromise on the issue of a "budgetary cliff." If a solution is not found by January 1, 2013, there will be an automatic reduction of budget expenditures and raise taxes, which could send the world's largest economy into recession.
Released before the opening of U.S. stock markets data on industrial production recorded its U.S. growth of 1.1% with the expectation of 0.3% and a decline of 0.4% in October.
Apple shares fell to $ 509.79 at 3.76%. The reason for selling shares of the manufacturer of smart phones and other hi-tech products are reports that the company was found guilty of violating three patents MobileMedia Ideas LLC (MMI) - a licensed company, shares in which is owned by Nokia Corp. and Sony Corp. of America. These patents protect the technology used in the iPhone. Also, analysts at UBS today lowered its target price AAPL shares to $ 700 from $ 780.
DOW index components mainly decreased (19 of 30). Below are the shares of the remaining American Express (AXP, -1.85%). Leader shares were Alcoa (AA, +1.75%) and Hewlett-Packard (HPQ, +1.72%).
Sector of the S & P showed a mixed trend. Maximum loss demonstrated the technology sector (-0.5%), the leading sector of basic materials (+0.5%).
The world's biggest software maker for Graphic Design Adobe Systems rose 5.71% after reporting a 28% growth of profits in the fourth quarter of the fiscal year due to lower costs.
At the close:
Dow 13,135.01 -35.71 -0.27%
Nasdaq 2,971.34 -20.82 -0.70%
S & P 500 1,413.58 -5.87 -0.41%
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