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Analytics, News, and Forecasts for CFD Markets: stock news — 19-06-2012.
U.S. stocks advanced, sending the Standard & Poor’s 500 Index to the highest level in more than a month, as the Federal Reserve begins a two-day meeting to decide whether more monetary stimulus is needed to boost the economy.
Equities rose on expectations that the Fed will extend its so-called Operation Twist. The $400 billion program, which ends this month, involves selling short-maturity debt and buying longer-term bonds. The central bank may expand its balance sheet, extend Operation Twist and/or lengthen its short-term interest rate guidance beyond late 2014, Goldman Sachs Group Inc. chief economist Jan Hatzius wrote today.
S&P 500 1,358.79 +14.01 +1.04%, NASDAQ 2,929.34 +34.01 +1.17%, Dow 12,861.85 +120.03 +0.94%.
Bank of America Corp. jumped 4.9 percent as the Federal Housing Finance Agency plans to help banks avoid being forced to buy back mortgages as it becomes concerned lenders are tightening standards even for the most creditworthy home buyers.
FedEx Corp., operator of the largest cargo airline, climbed 3.4 percent as executives pledged to improve service and efficiency as slowing economic growth pressures profits.
Microsoft Corp. advanced 3.6 percent after unveiling a tablet computer.
European stocks gained for a third day as Greece moved closer to forming a government and a Spanish debt sale met targets, outweighing a bigger-than-forecast decline in German investor confidence.
FTSE 100 5,590.55 +99.46 +1.81%, CAC 40 3,113.26 +47.07 +1.54%, DAX 6,359.23 +111.03 +1.78%.
Home Retail Group Plc surged 23 percent as sales at the Argos chain beat estimates.
Whitbread Plc jumped 6.3 percent as first-quarter revenue increased.
SAP AG rose 2 percent after U.S. peer Oracle Corp. reported fourth-quarter profit that beat estimates.
Danone tumbled 6.1 percent after the world’s biggest yogurt maker cut its profitability forecast.
U.S. stock futures advanced as a decline in housing starts bolstered expectations the Federal Reserve may stimulate the economy.
Company news:
Oracle Corp. (ORCL), the world’s largest maker of database software, rallied after profit topped analysts’ estimates.
Global Stocks:
FTSE 5,549.28 +58.19 +1.06%
CAC 3,077.02 +10.83 +0.35%
DAX 6,285.3 +37.10 +0.59%
Nikkei 8,655.87 -65.15 -0.75%
Hang Seng 19,416.67 -11.14 -0.06%
Shanghai Composite 2,300.8 -15.26 -0.66%
Crude oil: $83.85 (+0.70%)
Gold $1630.30 (+0.20%)
Asian stocks fell, with the regional benchmark index retreating from a one-month high, as Spain’s borrowing costs climbed to a euro-area record and optimism faded that Greece’s election result will calm the debt crisis.
German Chancellor Angela Merkel said Greece should not be given more leeway to comply with austerity measures needed to secure international aid after pro-bailout parties won enough seats to form a majority in parliament.
Nikkei 225 8,655.87 -65.15 -0.75%
Hang Seng 19,416.67 -11.14 -0.06%
S&P/ASX 200 4,123.33 -13.57 -0.33%
Shanghai Composite 2,300.8 -15.26 -0.66%
Esprit Holdings Ltd., a clothier that counts Europe as its largest market, declined 2 percent in Hong Kong.
Fairfax Media Ltd. sank 8.5 percent in Sydney amid reports Gina Rinehart, Asia’s richest woman, is seeking three seats on the publisher’s board and power to fire editors.
Canon Inc., a camera maker that gets about 31 percent of sales from Europe, dropped 1.2 percent to 3,200 yen in Tokyo.
Asian stocks and the euro rose to the highest levels in a month as gains by pro-bailout parties in Greek elections eased concern the nation would be forced out of the 17-member currency bloc. Commodities advanced while bond risk in Asia declined.
S&P/ASX 200 Australia 4,136.9 +79.57 +1.96%
TOPIX Japan 738.81 +12.24 +1.68%
SHANGHAI COMP China 2,312.57 +5.72 +0.25%
The MSCI Asia Pacific Index climbed 1.7 percent to the highest since May 16 at 12:39 p.m. in Tokyo. The euro strengthened 0.5 percent to the highest since May 22, and the yen fell against most of its major counterparts. The Standard & Poor’s GSCI Index of 24 commodities gained 0.8 percent while bond risk in Asia dropped to the lowest since May 8. S&P 500 Index futures added 0.5 percent.
European stocks were little changed as the yield on Spain’s benchmark 10-year bond climbed above 7 percent, amid fading optimism that Greece’s election will calm the euro area’s sovereign-debt crisis.
Spain’s 10-year government bond yields rose as much as 41 basis points to 7.29 percent, the most since the country started using the euro in 1999.
The New Democracy and Pasok parties won enough seats to form a majority in the 300-member parliament, according to the Greek parliament’s speaker, easing concern that the country’s voters would reject the austerity measures needed to qualify for international aid.
National benchmark indexes declined in 10 of the 18 western-European (SXXP) markets. The U.K.’s FTSE 100 Index added 0.2 percent, while Germany’s DAX increased 0.3 percent. France’s CAC 40 slipped 0.7 percent.
Cable & Wireless Worldwide jumped 7.8 percent to 37.77 pence, its biggest rally in eight weeks. The company’s largest investor Orbis Holdings Ltd. said it will accept the 1.04 billion-pound ($1.6 billion) takeover offer from Vodafone.
Swatch Group AG, the world’s biggest watchmaker, added 2.3 percent to 369.60 Swiss francs. Berenberg Bank AG initiated the stock with a buy recommendation, saying that the shares will climb to 475 francs and that Swatch may increase its earnings per share and dividend growth at a double-digit pace over the next five years.
U.S. stocks fluctuated as Spain’s bond yields rose to a euro-era record and German Chancellor Angela Merkel said the new Greek government should not be granted additional leeway on the terms of its bailout.
Spain’s 10-year bond yields rose above 7 percent, sparking concern that the nation will need external funding. The European Union isn’t considering a full-fledged economic bailout for Spain and remains focused on a more limited banking-sector rescue, an EU official said. Greek election winner Antonis Samaras raced to build a coalition to keep bailout aid flowing.
Companies that are most-tied to the economy fell the most in the S&P 500 today. Halliburton Co. (HAL), the world’s largest provider of hydraulic-fracturing services, declined 2.3 percent to $28.76. Alcoa Inc. (AA), the biggest U.S. aluminum producer, lost 1.9 percent to $8.65.
DSW Inc. slumped 12 percent to $52 after the shoe retailer’s second-quarter profit forecast trailed estimates.
Facebook, which last week had the first weekly advance since its initial public offering, rose 5.2 percent to $31.57. The shares have jumped 17 percent in three days.
Groupon Inc. rallied 11 percent to $11.12. The largest daily coupon website advanced after Morgan Stanley analysts upgraded the stock to overweight from equalweight, citing international sales opportunities.
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