European stocks retreated from a three-week high as commodity producers declined and companies from Deutsche Lufthansa AG to RSA Insurance Group Plc cut their payouts to shareholders.
Negative data was caused by volume of construction in the EU, as well as data on car sales, which were published yesterday. Sales of passenger cars in the European Union in January 2013 fell to a record low. European automakers association ACEA said on Tuesday, February 18, that the first month of sales decreased by 8.7 percent compared to the same period last year to 885,159 new cars. January is the lowest figure since 1990, when the ACEA began keeping such records.
Positive news came from Greece, where the current account deficit of the balance of payments for 2012. declined by 73% year on year and reached the lowest level since the country's accession to the eurozone. Influence it reduce imports and reduced rates on sovereign debt.
Germany's DAX was down on the record CPI and HICP Germany, which rose by 1.7% y / y (vs. 1.9% previously), in line with the forecast. PPI rose 1.5% to 1.7% falling to 1.2%, and on a monthly basis rose by 0.8% (+0.3% expected).
France's CAC 40 fell, despite the restoration of the French business climate index. French business climate index unexpectedly rose from 87 (revised from 86) to 90 in February, and the HICP fell 0.6% m / m and up 1.4% y / y (vs. 1.5%), not short of projections.
Britain's FTSE 100 rose protocol IFA. Bank of England voted to King expansion QE, but was in a minority (6-3).
National benchmark indexes gained in 10 of the 18 western- European markets. Germany’s DAX declined 0.3 percent, while France’s CAC 40 slid 0.7 percent. The U.K.’s FTSE 100 climbed 0.3 percent.
BHP Billiton slipped 2.4 percent to 2,183.5 pence after the world’s biggest mining company reported a 58 percent decline in first-half profit and appointed Andrew Mackenzie as its new chief executive officer. Mackenzie, who takes over on May 10, was head of its copper unit.
Lufthansa dropped 6.2 percent to 15 euros after Europe’s biggest airline by sales canceled its dividend for 2012. The company made a payout of 25 euro cents a share for 2011.
Lafarge jumped 5.5 percent to 49.27 euros. The world’s biggest cement maker said fourth-quarter earnings before interest, taxes, depreciation and amortization rose to 856 million euros ($1.1 billion), beating the average analyst estimate of 821.6 million euros.
Credit Agricole SA rose 3.9 percent to 7.61 euros after saying it plans to reduce costs by 650 million euros by 2016. France’s third-largest bank said in a web presentation it expects to cut costs by 650 million euros by 2016 through information-technology resources, real estate and procurement.
U.S. stock futures were little changed after government data showed builders broke ground on the most single-family homes in more than four years.:
Negativity comes from macroeconomic data on the volume of construction in the EU, as well as data on car sales, which were published yesterday. Sales of passenger cars in the European Union in January 2013 fell to a record low. European automakers association ACEA said on Tuesday, February 18, that the first month of sales decreased by 8.7 percent compared to the same period last year to 885,159 new cars. January is the lowest figure since 1990, when the ACEA began keeping such records.
Positive news coming out of Greece, where the current account deficit of the balance of payments for 2012. declined by 73% year on year and reached the lowest level since the country's accession to the eurozone.
Influence it reduce imports and reduced rates on sovereign debt.
The course of today's trading may also affect stat data on real estate market in the U.S., which will be published at 15:30 Moscow time.
FTSE 100 6,403.31 +24.24 +0.38%
DAX 7,770.67 +18.22 +0.24%
CAC 3,730.45 -5.32 -0.14%
Capitalization of Lafarge SA, the world's leading cement producer, rose by 4.8%. EBITDA of the company for October-December rose to 856 million euros from 798 million euros, while the market expected figure at 821.6 million euros. In 2012 Lafarge has sold assets for 900 million euros, not one billion euros, as the company originally planned. Receivable decreased in the fourth quarter by 5% - to 11.3 million euros. The head of Lafarge Bruno Lafont intends to reduce debt below the level of 10 billion euros.
Shares of Credit Agricole SA rose 1.7% despite the fact that the French bank reported a record loss in the fourth quarter due to write-offs of goodwill in the Italian divisions. In the past quarter net loss of 3.98 billion euros, an increase of 30% compared to the same period of 2011.
Capitalization of Deutsche Lufthansa fell 3.9% on the information that the airline refuses to pay dividends in 2013 for the first time since 2010.
Asian stocks rose for a third day, with the regional benchmark index extending an 18-month high, amid signs the global economy is recovering.
Nikkei 225 11,468.28 +95.94 +0.84%
Hang Seng 23,307.41 +163.50 +0.71%
S&P/ASX 200 5,098.71 +16.82 +0.33%
Shanghai Composite 2,397.18 +14.26 +0.60%
South Korea’s Kospi Index led benchmark gauges higher after Bank of Korea Governor Kim Choong Soo said the world economic outlook is improving.
Tokyo Electric Power Co. led Japanese utilities higher.
BHP Billiton Ltd., the world’s largest mining company, fell 0.9 percent in Sydney after reporting a 58 percent drop in first-half profit.
Woodside Petroleum Ltd., Australia’s second-biggest oil and gas producer, added 3.1 percent after full-year profit almost doubled.Asian stocks rose, with the regional benchmark index trading near its highest close in 18 months, as Bridgestone Corp. surged by the most in four years on better- than-expected profit.
Nikkei 225 11,372.34 -35.53 -0.31%
Hang Seng 23,143.91 -238.03 -1.02%
S&P/ASX 200 5,081.9 +18.48 +0.36%
Bridgestone, the world’s biggest tiremaker, soared 10 percent in Tokyo, to the highest close since 2006.
Gree Inc., a Japanese social-network website operator, rose 2.7 percent on a share-buyback plan.
Nissan Motor Co., a Japanese carmaker that gets 79 percent of its revenue abroad, fell 1.1 percent as the yen strengthened after Finance Minister Taro Aso ruled out foreign bond buying.
Sands China Ltd. paced declines among casino operators in Hong Kong on a report Macau gaming revenue missed estimates.
European stocks rose to the highest level in three weeks as German economic sentiment improved more than forecast and Danone SA rallied after reporting earnings.
German investor confidence increased to the highest level in almost three years in February. The index of investor and analyst expectations climbed to 48.2 from 31.5 in January, the ZEW Center for European Economic Research said. That exceeded the median estimate of economists in a survey calling for an increase to 35.
National benchmark indexes advanced in all 18 western European markets, except Iceland. Germany’s DAX jumped 1.6 percent and France’s CAC 40 surged 1.9 percent. The U.K.’s FTSE 100 climbed 1 percent to a five-year high.
Danone jumped 5.9 percent to 53.15 euros as the company said it plans to cut 900 jobs in Europe after 2012 profitability declined on weak consumption in southern Europe. Fourth-quarter net income from continuing operations rose to 1.82 billion euros, in line with the 1.81 billion-euro average analyst estimate in a survey.
Bayer rose 2.50 euros to 71.79 euros after saying it began a Phase-3 trial of the Eylea injection, along with Regeneron Pharmaceuticals Inc. The trial aims to evaluate the efficacy and safety of the drug in treating Diabetic Macular Edema in Russia, China and other Asian countries, the companies said.
Vodafone dropped 2 percent to 163.5 pence after Bernstein lowered its recommendation on the shares to underperform, the equivalent of sell, from market perform. The European assets of the world’s second-largest wireless carrier will shrink by 23 percent in the next three years as the company faces “structural decline,” analysts led by Robin Bienenstock wrote in a report.
Nobel Biocare Holding AG fell 3.2 percent to 9.61 Swiss francs after Chief Executive Officer Richard Laube said markets will remain difficult in the short term. The world’s second- biggest maker of dental implants reported fourth-quarter net income of 11.2 million euros, exceeding the average analyst estimate of 9.55 million euros.
Major U.S. stock indexes spent trading in positive territory, with the DOW index and S & P 500 and the updated five-year highs.
Positive background of U.S. indices provided optimism from Europe, where the published data found a significant improvement in sentiment in the business environment in Germany, whose economy is the largest in the region. As shown by the results of recent studies that have been presented today by the Institute of ZEW, the level of confidence among German investors resumed their growth in February, registering with the third monthly increase in a row, on expectations that the debt crisis in the region is on the decline, as the measures taken European officials have helped to restore confidence in the region's largest economy. According to the data, the index of sentiment in the business environment in February rose to the level of 48.2, compared with 31.5 in the previous month, as well as expectations at 35.0.
Positively on the index also reflected reports that companies Office Depot Inc. and OfficeMax Inc. are in talks about a merger of the transaction may announce this week.
At the same time, the growth index was somewhat restrained sprouted data on the state of the housing market index from the NAHB, which in February dropped to 46 points in January against the value of 47 points. Expected growth rate of up to 48 points. However, the impact of the publication on the index was rather limited, because tomorrow will be presented to more important data on the U.S. housing market.
Most of the components of the index DOW finished trading in positive territory (22 of 30). More than the others fell in the share price Alcoa, Inc. (AA, -2.79%). Leader shares were Cisco Systems, Inc. (CSCO, +2.24%).
All sectors of the S & P showed an increase. Topped the rating of the consumer goods sector (+1.0%).
U.S. office products retailer Office Depot jumped 9.4% on news of the talks with one of his rivals OfficeMax on the possible merger. As expected, the announcement of the deal could be done this week. Shares of OfficeMax, in turn, have soared by 21%.
The world's largest consumer electronics retailer Best Buy boosted 2.7% after analysts at Barclays upgraded the stock from "market level" to "Outperform."
At the close:
S & P 500 1,530.11 +10.32 +0.68%
NASDAQ 3,213.59 +21.56 +0.68%
Dow 14,035.67 +53.91 +0.39%Change % Change Last
Nikkei 225 11,372.34 -35.53 -0.31%
Hang Seng 23,143.91 -238.03 -1.02%
S&P/ASX 200 5,081.9 +18.48 +0.36%
FTSE 100 6,379.07 +60.88 +0.96%CAC 40 3,735.82 +68.78 +1.88%
DAX 7,752.45 +123.72 +1.62%
Dow Closed
Nasdaq Closed
S&P Closed
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