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Analytics, News, and Forecasts for CFD Markets: stock news — 18-04-2012.
European stocks declined as Bank of England policy maker Adam Posen ended his support for more stimulus and bad loans surged in Spain.
Posen ended his push for further Bank of England stimulus, joining the majority of the nine-member Monetary Policy Committee in seeking no change to the 325 billion-pound ($517 billion) asset-purchase target, according to minutes of their April 4-5 meeting published today in London.
Non-performing loans for Spanish banks as a proportion of total lending jumped to 8.16 percent in February, the highest level since 1994, from less than 1 percent in 2007, according to Bank of Spain data. The total credit in the economy that the regulator lists as “doubtful” reached 143.8 billion euros.
National benchmark indexes fell in 15 of the 18 western- European markets. France’s CAC 40 Index declined 1.6 percent and the U.K.’s FTSE 100 Index slid 0.4 percent. Germany’s DAX Index lost 1 percent. Spain’s IBEX 35 Index retreated 4 percent to its lowest since March 2009.
Santander, Spain’s largest bank, dropped 4 percent to 4.81 euros. Banco Popular Espanol SA fell 3.2 percent to 2.39 euros. CaixaBank slid 3.5 percent to 2.60 euros. A gauge of European bank shares was the second-worst performer of the 19 industry groups on the Stoxx 600.
Repsol dropped 6.2 percent to 15.40 euros. Argentina rejected its demand for $10.5 billion in compensation after President Cristina Fernandez de Kirchner seized its YPF SA unit, saying it hasn’t invested enough in the South American country.
Iberdrola dropped 7.9 percent to 3.59 euros, its lowest since November 2003, after Actividades de Construccion & Servicios SA sold a 3.7 percent stake in Spain’s biggest power company to cut debt. ACS tumbled 6.1 percent to 16.45 euros as it said the stake sale will reduce its earnings by 540 million euros.
Statoil Fuel & Retail soared 51 percent to 52.60 kroner. Alimentation Couche-Tard offered to buy the company for 53 kroner per share, valuing it at 15.9 billion kroner ($2.8 billion). The offer represents a 53 percent premium for Scandinavia’s biggest gas-station operator, the Laval, Canada- based company said in a statement today. Statoil ASA (STL), Norway’s biggest oil producer, has agreed to sell its 54 percent stake in the company.
BHP Billiton added 0.9 percent to 1,943 pence, gaining for a third day. The world’s largest mining company said third- quarter iron ore production rose 14 percent as it expands its mines and port in Australia.
Heineken NV advanced 2.5 percent to 43.35 euros after reporting first-quarter revenue of 3.83 billion euros, beating analysts’ estimates of 3.74 billion euros.
U.S. stocks retreated, following the biggest advance in more than a month for the Standard & Poor’s 500 Index, as Intel Corp. and International Business Machines Corp. drove a technology slump after reporting results.
Stocks retreated after Intel and IBM posted the slowest sales growth in years as Europe’s economic slump weighed on orders last quarter. Equities also joined European shares lower after Bank of England policy makers said inflation may be higher than forecast. Spain will auction 3.3 percent two-year notes and 5.85 percent 10-year debt tomorrow.
Dow 13,050.15 -65.39 -0.50%, Nasdaq 3,029.15 -13.67 -0.45%, S&P 500 1,385.74 -5.04 -0.36%
Intel (INTC) slumped 2 percent to $27.90, while IBM (IBM) retreated 2.9 percent to $201.42. IBM’s revenue climbed 0.3 percent to $24.7 billion in the period, while Intel sales rose 0.5 percent to $12.9 billion. That was the smallest increase for either company since the third quarter of 2009, when the U.S. economy was just emerging from recession. Even so, Intel predicted a pickup in sales for the current quarter.
Berkshire Hathaway Class A shares lost 1.3 percent to $119,775. Buffett, 81, will begin a two-month treatment of daily radiation in July, he said. The regimen will restrict his travel during the period and not otherwise change his daily routine, said Buffett, who is also chief executive officer of the Omaha, Nebraska-based company.
Genworth Financial Inc. tumbled 21 percent to $6.09. The life insurer and mortgage guarantor firm postponed plans for a public offering of its Australian unit backing home loans after “elevated” losses in the nation.
Yahoo! Inc. advanced 2.9 percent to $15.45 after reporting first-quarter sales that topped estimates, fueling optimism that a turnaround effort by Chief Executive Officer Scott Thompson may take hold.
Resistance 3:1420 (4 years high)
Resistance 2:1397 (Apr 5 high)
Resistance 1:1388 (Apr 13 and 17 highs)
Current price: 1382,25
Support 1:1375 (МА (200) for Н1, Apr 16 high, resistance line from Apr 2 broken earlier)
Support 2:1357/60 (area of Apr 16-17 lows and support line from Mar 6)
Support 2:1352 (Apr 10 low)
U.S. stock futures fell as Intel (INTC) Corp. and International Business Machines Corp. tumbled after reporting results.
Global Stocks:
Nikkei 9,667.26 +202.55 +2.14%
Hang Seng 20,780.73 +218.42 +1.06%
Shanghai Composite 2,380.85 +45.86 +1.96%
FTSE 5,753.66 -13.29 -0.23%
CAC 3,235.53 -56.98 -1.73%
DAX 6,736.75 -64.25 -0.94%
Crude oil: $103.61 (-0.57%).
Gold: $1640.00 (-0.67%).
IBM (IBM): Q1 EPS of $2.78 vs cons $0.13. Revenue of $24.67B (flat Y/Y).
IBM said it now expects 2012 earnings of at least $15.00 per share. The company's previous guidance was earnings of at least $14.85 per share and the current consensus earnings estimate is $14.87 per share for the year ending December 31, 2012.
Intel (INTC): Q1 EPS of $0.53 vs cons $0.50. Revenue of $12.91B (flat Y/Y).
Intel Corp. (INTC) said it expects second quarter revenue of $13.10 billion to $14.10 billion. The current consensus revenue estimate is $13.39 billion for the quarter ending June 30, 2012.
Asian stocks rose, with the regional benchmark index headed for its biggest gain this month, after the International Monetary Fund raised global economic forecasts and Spain sold more debt than targeted, boosting the earnings outlook for exporters.
Nikkei 225 9,667.26 +202.55 +2.14%
Hang Seng 20,777.39 +215.08 +1.05%
S&P/ASX 200 4,348.66 +59.88 +1.40%
Shanghai Composite 2,380.88 +45.86 +1.96%
Toyota Motor Corp., Asia’s biggest carmaker by market value, gained 2.8 percent in Tokyo. OCI Co., a maker of materials used in solar panels, advanced 4.7 percent in Seoul on speculation oversupply in the industry may ease as companies consolidate and restructure.
BHP Billiton Ltd. rose 2.5 percent in Sydney after commodity prices gained and the miner’s iron-ore production rose.
CSR Corp., a Chinese trainmaker, increased 4.6 percent in Hong Kong after a report it won orders from Hong Kong.
Asian stocks fell for a second day as foreign direct investment into China dropped for a fifth month, and Spanish borrowing costs climbed to the highest level this year ahead of a debt auction by the nation today.
China Construction Bank Corp. retreated 2.6 percent in Hong Kong even as investment slipped at about half the rate forecast by economists.
Nikkei 225 9,464.71 -5.93 -0.06%
Hang Seng 20,554.15 -56.49 -0.27%
S&P/ASX 200 4,288.79 -13.55 -0.31%
Shanghai Composite 2,334.98 -22.04 -0.94%
Esprit Holdings Ltd., which depends on Europe for about 80 percent of its sales, retreated 3.6 percent as Spain prepares to sell bonds later today. Apple Inc. suppliers fell amid concern demand for the company’s products will slow.
Gree Inc., a Japanese social-network game operator, rose 9.1 percent in Tokyo after Bank of America Merrill Lynch said its domestic revenue growth is accelerating.
European stocks gained the most since November as demand increased at a Spanish debt sale, German investor confidence topped forecasts and the International Monetary Fund boosted its global growth outlook.
Spain sold 3.18 billion euros of bills today, compared with a maximum target of 3 billion euros the Treasury set for the sale. The average 12-month yield was 2.623 percent, compared with 1.418 percent at the last auction on March 20, the Bank of Spain said. The ZEW Center for European Economic Research’s index of investor and analyst expectations, which aims to predict economic developments six months in advance, climbed to 23.4 from 22.3 in March.
The world economy will expand 3.5 percent this year and 4.1 percent in 2013, the Washington-based IMF said today in its World Economic Outlook, raising forecasts made in January from 3.3 percent for 2012 and 4 percent for next year.
National benchmark indexes advanced in all of the 18 western European markets. France’s CAC 40 Index climbed 2.6 percent, while Germany’s DAX rose 2.5 percent. The U.K.’s FTSE 100 (UKX) added 1.8 percent.
A gauge of bank shares gained 4 percent today as Banco Popolare, Italy’s fifth-largest lender, increased 8.9 percent to 1.15 euros. Barclays, the U.K.’s second-biggest bank by assets, increased 4.9 percent to 221.2 pence. BNP Paribas SA, France’s largest bank, rallied 6.7 percent to 30.94 euros and Societe Generale SA, the country’s second-biggest lender, rose 8.2 percent to 18.52 euros.
Greek banks jumped amid optimism the government is close to completing its plans to restructure the country’s banks. EFG Eurobank Ergasias SA surged 7.3 percent to 71.9 euro cents and National Bank of Greece SA climbed 1.1 percent to 1.88 euros.
Danone advanced 2.8 percent to 53 euros after reporting higher first-quarter sales, led by bottled water and baby food. Revenue rose to 5.12 billion euros from 4.76 billion euros a year earlier, the company said. That beat the 5.05 billion-euro average estimate of 11 analysts.
Marks & Spencer Group Plc slid 2.5 percent to 358.5 pence. The U.K.’s largest clothing retailer said sales of general merchandise at U.K. stores open at least a year fell 2.8 percent in the 13 weeks ended March 31. The average estimate of 10 analysts was for an unchanged performance.
U.S. stocks rose, giving benchmark indexes their biggest rallies in a month, as higher forecasts from the International Monetary Fund and gains in Spanish bonds overshadowed declines in housing starts and factory production.
Stocks rallied as the IMF raised its 2012 global growth estimate to 3.5 percent, German investor confidence rose and Spanish bonds gained. Expectations that Europe’s crisis is stabilizing overshadowed data showing that production at U.S. factories dropped in March for the first time in four months and builders broke ground on fewer houses than forecast.
Dow 13,115.54 +194.13 +1.50%, Nasdaq 3,042.82 +54.42 +1.82%, S&P 500 1,390.78 +21.21 +1.55%
Coca-Cola (КО) gained 2.1 percent to $73.95. Chief Executive Officer Muhtar Kent has introduced smaller package sizes to attract price-conscious consumers as part of an effort to spur sales in North America.First Solar Inc. surged 10 percent to $22.96. The largest thin-film panel maker will cut 30 percent of its workforce, about 2,000 jobs, as demand in Europe slows faster than the company can expand in emerging markets in Asia.
Goldman Sachs Group Inc. fell 0.7 percent to $116.86. The fifth-biggest U.S. bank by assets reported a 23 percent decline in first-quarter profit. Revenue from trading bonds, currencies and commodities lagged behind JPMorgan Chase & Co. The company also boosted its dividend 31 percent.
Change % Change Last
Nikkei 225 9,464.71 -5.93 -0.06%
Hang Seng 20,554.15 -56.49 -0.27%
S&P/ASX 200 4,288.79 -13.55 -0.31%
Shanghai Composite 2,334.98 -22.04 -0.94%
FTSE 100 5,766.95 +100.67 +1.78%
CAC 40 3,292.51 +87.23 +2.72%
DAX 6,801 +175.81 +2.65%
Dow 13,115.54 +194.13 +1.50%
Nasdaq 3,042.82 +54.42 +1.82%
S&P 500 1,390.78 +21.21 +1.55%
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