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Analytics, News, and Forecasts for CFD Markets: stock news — 18-05-2012.
European stocks fell for a fifth day, posting their biggest weekly selloff since September, amid signs of slowing growth in China and continued concern that Greece will have to leave the euro area.
Almost $4 trillion has been wiped from global equity markets in May amid mounting concern Greece will have to leave the euro currency union. The country’s credit rating was reduced one level by Fitch Ratings late yesterday amid concern it will not muster the political support needed to remain a member of the 17-nation euro area.
Moody’s lowered the debt ratings of 16 Spanish banks after the close of U.S. trading yesterday, citing mounting loan losses, the country’s recession, restricted access to funds and the reduced ability of the government to support lenders as its own creditworthiness diminishes.
National benchmark indexes retreated in 14 of the 17 western-European market that opened today. The U.K.’s FTSE 100 slid 1.3 percent, while Germany’s DAX slid 0.6 percent. France’s CAC 40 slipped 0.1 percent.
Rio Tinto, the world’s third-biggest mining company, retreated 2.4 percent to 2,788 pence. Vedanta Resources Plc lost 2.7 percent to 958.5 pence and Xstrata Plc dropped 4.3 percent to 914.7 pence.
Volkswagen dropped 2 percent to 128.20 euros, Porsche SE slid 2.4 percent to 39.93 euros and Bayerische Motoren Werke AG lost 2.3 percent to 61.31 euros. Volvo AB sank 4.6 percent to 78.45 kronor.
LSE jumped 2.9 percent to 992 pence after Europe’s oldest independent bourse posted profit for the six months to the end of March that surged to 405.9 million pounds ($641 million), boosted by money earned from deposits at its Italian central counterparty.
U.S. stocks fell, sending benchmark gauges down a sixth day, as Facebook Inc.’s debut failed to inspire optimism after its record initial public offering.
Stocks rose earlier today after Facebook’s record IPO made the social network more costly than almost every company in the S&P 500. Nasdaq had said it would start quoting Facebook at 10:45 a.m. New York time and begin trading of Facebook at about 11 a.m. It then delayed the open by five minutes before sending the notice that there was a problem. The shares started trading at 11:30 a.m.
Facebook sold 421.2 million shares at $38 each to raise $16 billion. That values the Menlo Park, California-based company at $104.2 billion, or 107 times trailing 12-month earnings, more than every S&P 500 member except Amazon.com Inc. and Equity Residential.
Resistance 3:1330 (May 17 high)
Resistance 2:1324 (resistance line from May 15)
Resistance 1:1310 (session high)
Current price: 1304,75
Support 1:1293 (session low)
Support 2:1277 (area of 61,8 % FIBO 1197-1420 and МА (200) for D1)
Support 3:1242 (Dec 28-29 lows)
U.S. stock futures advanced as better-than-estimated corporate profits tempered concern about a worsening of Europe’s debt crisis.
Facebook Inc. (FB) is set to start trading today after a record initial public offering that made the social network more costly than almost every company in the S&P 500.
Global Stocks:
Nikkei 8,611.31 -265.28 -2.99%
Hang Seng 18,951.85 -249.08 -1.30%
Shanghai Composite 2,344.52 -34.37 -1.44%
Closed 725.54 -21.62 -2.89%
FTSE 5,294.78 -43.60 -0.82%
CAC 3,008.05 -3.94 -0.13%
DAX 6,307.45 -1.51 -0.02%
Crude oil $92.24 (-0.35%).
Gold $1587.70 (+0.82%).
European stocks dropped after Moody’s Investors Service downgraded Spanish lenders.
Moody’s lowered debt ratings at 16 Spanish banks, citing mounting loan losses, the country’s recession, restricted access to funds and the reduced ability of the government to support lenders as its own creditworthiness diminishes.
Currently:
FTSE 5,284.59 -53.79 -1.01%
CAC 3,003.36 -8.63 -0.29%
DAX 6,293.45 -15.51 -0.25%
Asian stocks fell, with the regional benchmark index erasing this year’s gains, after U.S. economic data missed estimates and ratings agencies downgraded Spanish banks and Greece as Europe’s debt crisis deepens.N
Nikkei 225 8,611.31 -265.28 -2.99%
Hang Seng 18,901.01 -299.92 -1.56%
S&P/ASX 200 4,046.46 -110.95 -2.67%
Shanghai Composite 2,344.52 -34.37 -1.44%
Samsung Electronics Co., a consumer-electronics maker that gets 40 percent of sales from Europe and America, dropped 4.7 percent in Seoul as exporters tumbled.
Japanese machinery makers plunged in Tokyo after sales growth slowed at industry bellwether Caterpillar Inc.
The Hang Seng China Enterprises Index of Hong Kong-listed Chinese companies fell as much as 20 percent from its high for the year on Feb. 29 after home prices slid in a record number of mainland cities during April.
Asian stocks rose, with the regional gauge poised to end a six-day losing streak, as faster-than- estimated economic growth in Japan and optimism the Federal Reserve will do more to stimulate the U.S. economy outweighed concern Greece’s debt crisis is worsening.
Nikkei 225 8,876.59 +75.42 +0.86%
S&P/ASX 200 4,157.4 -8.13 -0.20%
Shanghai Composite 2,378.89 +32.69 +1.39%
Li & Fung Ltd., a supplier for Wal-Mart Stores Inc., rose 1.7 percent.
Korea Gas Corp. jumped 6.4 percent in Seoul after a report it discovered gas in Mozambique.
Toshiba Corp., the maker of Regza brand televisions, gained 5.6 percent in Tokyo after saying it will stop television production in Japan.
Toll Holdings Ltd., an Australian trucking company, slid 6.8 percent, extending yesterday’s losses after forecasting lower full-year profit.
European Stocks drop
European stocks declined as the region’s central bank paused lending to some Greek banks and speculation mounted that Spanish banks may have their credit ratings cut at Moody’s Investors Service.
The Stoxx Europe 600 Index dropped 1.1% at the close of trading, for the longest losing streak since March 22
Moody’s Investors Service is set to downgrade the credit ratings of Spanish banks later today, said two people with knowledge of the situation, who asked not to be identified because the decision hasn’t been announced.
The nation sold the maximum amount of notes targeted at a bond auction today as borrowing costs rose and 10-year bond yields approached levels that drove Greece and Portugal into bailouts.
National benchmark indexes declined in all 10 western European markets open today. The U.K.’s FTSE 100 , Germany’s DAX and France’s CAC 40 all dropped 1.2%. Greece’s ASE lost 3.4% to the lowest level since January 1990. Exchanges in Switzerland, Norway, Sweden, Denmark, Finland, Austria, Luxembourg and Iceland were closed for the Ascension holiday.
Spanish lender Bankia tumbled 14 %. The stock has dropped for 10 consecutive days, losing 42 %. El Mundo reported that customers have withdrawn 1 billion euros since May 9, when the government said it will take over the bank.
Cookson jumped 5.5 % to 679 pence, the biggest increase since April 2. The world’s biggest maker of ceramic linings for metal smelters said it has started a strategic review and may split its main divisions.
US Stocks fell to lowest since January on economic data.
U.S. stocks fell amid disappointing economic data and growing concern that credit ratings for Spanish banks will be cut.
Thursday’s slump extended a five-day drop in the S&P 500 to 3.9%. Moody’s Investors Service is set to downgrade the ratings of Spanish banks, said two people with knowledge of the situation. Greece’s credit rating was cut one level by Fitch Ratings on “heightened risk” that the country will not be able to sustain its membership of the euro area after inconclusive elections left the country without a stable government.
Change % Change Last
Nikkei 8,876.59 +75.42 +0.86%
Hang Seng 19,200.93 -58.90 -0.31%
S&P/ASX 4,157.41 -8.12 -0.19%
Shanghai Composite 2,378.89 +32.69 +1.39%
FTSE 100 5,338,38 -66,87 -1.24%CAC 40 3,011,99 -36,68 -1,20%
DAX 6,308,96 -75,30 -1.18%
Dow 12,499.48 -99.07 -0.79%
Nasdaq 2,831.5 -42.54 -1.48%
S&P 1,311.64 -13.16 -0.99%
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