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Analytics, News, and Forecasts for CFD Markets: stock news — 20-04-2012.
European stocks rose as German business confidence unexpectedly gained and U.S. companies from General Electric Co. to Schlumberger Ltd. reported earnings that beat estimates, offsetting higher yields on Spanish bonds.
In Germany, a report showed that business confidence unexpectedly rose to a nine-month high in April. The Ifo institute’s business climate index, based on a survey of 7,000 executives, increased to 109.9 from 109.8 in March. Economists had forecast a drop to 109.5, according to the median of 40 economists.
IMF Managing Director Christine Lagarde is seeking more than $400 billion in new reserves to increase a lending capacity of about $380 billion and this week won promises of support from Japan to Denmark.
FTSE 100 5,772.15 +27.60 +0.48%, CAC 40 3,188.58 +14.56 +0.46%, DAX 6,750.12 +78.90 +1.18%
A gauge of European banks was among the best performers of the 19 industry groups in the Stoxx 600. Deutsche Bank AG and Commerzbank AG, Germany’s largest lenders, gained 2 percent to 34.56 euros, and 2 percent to 1.63 euros, respectively.
BNP Paribas, France’s largest bank, gained 3.7 percent to 29.60 euros after Bank of America Corp. raised the stock to neutral, the equivalent of hold, from underperform. Societe Generale SA, the country’s second-biggest, also added 3.6 percent to 17.33 euros. It was upgraded to buy from neutral.
William Hill increased 4.4 percent to 278.5 pence, its highest price since May 2008. First-quarter net revenue jumped 12 percent from a year earlier, adding it remains “confident” in its expectations for the full year.
Home Retail Group Plc advanced 4.2 percent to 103.8 pence as U.K. retail sales rose more than forecast last month. Marks & Spencer Group Plc (MKS) gained 1.6 percent to 361.3 pence.
Waertsilae Oyj, the world’s biggest maker of ship motors and power plants, rose 3.1 percent to 28.90 euros as its service business reached record sales in the first quarter.
A gauge of technology shares was the worst-performing group in the Stoxx 600. Infineon Technologies AG lost 1 percent to 7.60 euros and Alcatel-Lucent retreated 1.7 percent to 1.42 euros. Logitech International SA, the world’s largest maker of computer mice, dropped 1.8 percent to 7.21 Swiss francs.
U.S. stocks rose, snapping a two- day decline for the Standard & Poor’s 500 Index, as profits from companies including Microsoft (MSFT) Corp. and General Electric Co. (GE) beat estimates and German business confidence improved.
A report today showed German business confidence unexpectedly increased for a sixth month in April, adding to evidence that Europe’s largest economy can weather the sovereign-debt crisis.
The Group of 20 will announce new funding for the International Monetary Fund’s European reserves that will “satisfy” requests from Managing Director Christine Lagarde, Russian Deputy Finance Minister Sergei Storchak said. Lagarde, who has called Europe the “epicenter” of risks to the world economy, is seeking more than $400 billion in new funding from member countries.
Dow 13,066.69 +102.59 +0.79%, Nasdaq 3,022.51 +14.95 +0.50%, S&P 500 1,385.05 +8.13 +0.59%
Microsoft (MSFT) rose 5.4 percent to $32.70. The Redmond, Washington-based company reported net income of 60 cents a share, exceeding the 57-cent average estimate of analysts amid better-than-expected sales of Windows and Office software for businesses.
General Electric (GE) rose 1.9 percent to $19.50. The maker of aircraft engines and provider of financial services beat analysts’ earnings estimates as profit gains at its energy business, its largest industrial division, outpaced finance for the first time in two years.
Schlumberger gained 4.3 percent to $72.82. The world’s largest oilfield-services provider said first-quarter profit rose 38 percent as the number of U.S. rigs drilling for oil reached a record.
Advanced Micro Devices Inc. climbed 1.1 percent to $8.06. The second-largest maker of processors for personal computers said second-quarter sales will grow about 3 percent from the first three months. That indicates revenue of about $1.63 billion, compared with the $1.59 billion average analyst estimate.
McDonald’s Corp. (MCD) added 2.1 percent to $97.25. The world’s largest restaurant chain reported a 4.8 percent gain in first- quarter profit as new menu items such as Chicken McBites attracted U.S. consumers.
SanDisk, which makes memory chips used in mobile devices, declined 13 percent, the most in the S&P 500, to $35.01 after giving a second-quarter sales forecast that fell short of some analysts’ estimates. Chip production at SanDisk and its rivals is outpacing demand, causing prices to fall, Chief Executive Officer Sanjay Mehrotra said on a conference call with analysts yesterday. Some of the company’s customers also ordered fewer chips for mobile phones than SanDisk had predicted, he said.
Resistance 3:1420 (4 years high)
Resistance 2:1397 (Apr 5 high)
Resistance 1:1388 (Apr 13, 17 and 19 highs)
Current price: 1378,50
Support 1:1370 (area of session low)
Support 2:1358/60 (area of Apr 16-17 lows and support line from Mar 6)
Support 3:1352 (Apr 10 low)
U.S. stock-index futures rose as Microsoft Corp. and General Electric Co. (GE) reported earnings that beat estimates.
Global Stocks:
Nikkei 9,561.36 -27.02 -0.28%
Hang Seng 21,010.64 +15.63 +0.07%
Shanghai Composite 2,406.86 +28.23 +1.19%
FTSE 5,766.78 +22.23 +0.39%
CAC 3,176.9 +2.88 +0.09%
DAX 6,720.16 +48.94 +0.73%
Crude oil: $103.89 (+1.58%).
Gold: $1642.70 (+0.08%).
General Electric (GE): Q1 EPS of $0.34 vs cons $0.33. Revenue of $35.2B (-8% Y/Y). Shares +1.36% premarket.
McDonald's (MCD): Q1 EPS of $1.23, in-line. Revenue of $6.55B (+7% Y/Y). Shares +1.91% premarket.
Asian stocks fell for the fourth day this week, as the Group of 20 nations warned Europe’s debt crisis still threatens global growth, and as U.S. economic data signaled the recovery in the world’s largest economy is slowing.
Nikkei 225 9,561.36 -27.02 -0.28%
Hang Seng 20,982.61 -12.40 -0.06%
S&P/ASX 200 4,366.5 +3.77 +0.09%
Shanghai Composite 2,406.86 +28.23 +1.19%
Esprit Holdings Ltd., a clothier that depends on Europe for about 80 percent of its sales, fell 1 percent in Hong Kong.
James Hardie Industries SE, an Australian supplier of building materials that gets more than half of its sales from the U.S., slid 1.1 percent in Sydney.
LG Chem Ltd. sank 9.2 percent in Seoul after the chemical maker’s profit slumped.
JFE Holdings, Inc., the No. 2 Japanese steelmaker, slid 3.3 percent in Tokyo after a report it may increase borrowing for investment.
Most Asian stocks fell as bad loans held by Spanish banks surged ahead of European bond sales today, damping investor confidence. Losses were limited amid speculation China will ease its monetary policy to spur growth.
Nikkei 225 9,588.38 -78.88 -0.82%
Hang Seng 20,962.95 +182.22 +0.88%
S&P/ASX 200 4,362.73 +14.07 +0.32%
Shanghai Composite 2,378.63 -2.21 -0.09%
Esprit Holdings Ltd., a clothier that depends on Europe for about 80 percent of its sales, declined 3.3 percent in Hong Kong.
Nippon Sheet Glass Co. headed for its lowest close since 1976 in Tokyo after Chief Executive Officer Craig Naylor quit over a disagreement with the Japanese company’s board.
OCI Co. fell 2.2 percent in Seoul after operating profit at the chemicals maker declined.
Wynn Macau Ltd. gained 3.4 percent in Hong Kong after a report the casino operator may sign a land contract to build a second resort in Macau.
European stocks fell for a second day as reports showed that sales of previously owned houses dropped and more Americans than forecast filed claims for unemployment benefits.
Stocks initially rallied after Spain sold 2.54 billion euros of two- and 10-year bonds at an auction, meeting the government’s maximum target of 2.5 billion euros. France also raised 10.5 billion euros of debt out of a planned 11 billion euros today as risks linked to the country’s presidential election drove up yields.
Both countries have come under increased scrutiny from investors as the effect of the European Central Bank’s longer- term refinancing operation fades. The ECB has injected 1 trillion euros of liquidity into the region’s financial system.
The yield on Spain’s benchmark 10-year bond has jumped as much as 1 percentage point since the beginning of March, while the yield on the equivalent French security has gained about 10 basis points.
National benchmark indexes fell in 14 of the 17 western- European markets that were open today. France’s CAC 40 Index declined 2.1 percent and Germany’s DAX Index declined 0.9 percent. The U.K.’s FTSE 100 Index lost less than 0.1 percent. Spain’s IBEX 35 Index retreated 2.4 percent to extend a three- year low.
Publicis sank 4.1 percent to 38.48 euros in Paris. The company said sales growth will slow after it lost a contract for General Motors Co. and as some clients cut spending. First- quarter sales rose 13 percent to 1.45 billion euros from a year earlier, Publicis said. Excluding acquisitions, sales grew 4.1 percent.
Nokia declined 3.6 percent to 2.92 euros, its lowest price since 1997, after the company reported a first-quarter operating loss, burdened by costs at the unprofitable equipment venture with Siemens AG.
Ladbrokes Plc, the second-biggest U.K. betting group, soared 6.5 percent to 173.4 pence after predicting profit growth in its digital offering in the second half of 2012.
U.S. stocks retreated for a second day as disappointing economic data and concern over Europe’s debt crisis overshadowed better-than-forecast earnings from companies.
The S&P 500 fell after reports showed sales of previously owned U.S. homes in March unexpectedly fell, while more Americans than forecast filed applications for unemployment benefits last week. Another report showed manufacturing in the Philadelphia region expanded at a slower pace in April as orders and sales cooled.
Global equities also declined as yields on French and Spanish 10-year bonds climbed at least six basis points, reviving concern about the sovereign debt crisis. Spain sold 2.54 billion euros ($3.3 billion) of two-year and 10-year debt today, compared with a maximum target of 2.5 billion euros. France auctioned 8 billion euros.
Dow 12,964.10 -68.65 -0.53%, Nasdaq 3,007.56 -23.89 -0.79%, S&P 500 1,376.92 -8.22 -0.59%
Alcoa (АА), the largest U.S. aluminum producer, erased 1.9 percent to $9.76. DuPont (DFT), the most valuable U.S. chemicals producer, slid 1.2 percent to $52.61 after reporting sales volume fell 2 percent in the first quarter, led by declines in the electronics unit and in the Asia Pacific region.
Bank of America Corp. (BAC) slid 1.7 percent to $8.77 after earlier rising as much as 2.8 percent. The second-largest U.S. lender said first-quarter profit rose amid a rebound in trading and better credit quality.
Morgan Stanley climbed 2.3 percent to $18.07. Stock- and bond-trading revenue rose more than at any other major U.S. bank. Profit was 71 cents a share excluding accounting charges, topping the 44-cent average estimate of 17 analysts.
Travelers Cos. (TRV) advanced 3.8 percent, the most in the Dow, to $61.70 as earnings beat analysts’ estimates and the company boosted its dividend 12 percent.
Change % Change Last
Nikkei 225 9,588.38 -78.88 -0.82%
Hang Seng 20,962.95 +182.22 +0.88%
S&P/ASX 200 4,362.73 +14.07 +0.32%
Shanghai Composite 2,378.63 -2.21 -0.09%
FTSE 100 5,744.55 -0.74 -0.01%
CAC 40 3,174.02 -66.27 -2.05%
DAX 6,671.22 -60.81 -0.90%
Dow 12,964.10 -68.65 -0.53%
Nasdaq 3,007.56 -23.89 -0.79%
S&P 500 1,376.92 -8.22 -0.59%
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