Analytics, News, and Forecasts for CFD Markets: stock news — 21-05-2012.

European stocks climbed, rebounding from last week’s biggest selloff since September, as China’s pledge to boost growth outweighed concern that Greece may be forced to leave the euro area.

In China, Premier Wen Jiabao called for “putting stabilizing growth in a more important position” and refrained from mentioning concern about inflation in remarks published yesterday by the official Xinhua News Agency. China may announce stimulus actions in the near term, according to a front-page commentary today in the China Securities Journal, published by Xinhua.

German Finance Minister Wolfgang Schaeuble will, for the first time, discuss the euro at a meeting with his newly installed French counterpart, Pierre Moscovici, in Berlin today as European Union leaders prepare to meet in Brussels on May 23.

Group of Eight leaders on May 19 urged Greece to stay within the euro area as polls in the country showed a close race between parties supporting and opposing austerity measures linked to the EU-led bailout.

National benchmark indexes climbed in 12 of the 18 western European markets. The U.K.’s FTSE 100 gained 0.7 percent and Germany’s DAX increased 1 percent, while France’s CAC 40 rose 0.6 percent. Italy’s FTSE MIB lost 0.3 percent as 29 of the gauge’s companies traded without the right to their latest dividends.

Carmakers were among the biggest gainers of the 19 industry groups on the Stoxx 600, rebounding from a five-day selloff. Renault rallied 4.7 percent to 32.02 euros as UBS AG added the French carmaker to its European “key calls” list.

Fiat climbed 8.6 percent to 3.64 euros in Milan, the biggest gain in more than two months. Sanford C. Bernstein & Co. upgraded the carmaker to outperform, the equivalent of a buy recommendation, from market perform with a price estimate of 5 euros. That’s 51 percent above last week’s close.

Barclays rose 2.2 percent to 180 pence after the lender said it plans to sell its entire holding in BlackRock before the latest round of Basel rules stops it from counting the holding as capital.

Banco Popolare SC surged 19 percent to 1.04 euro cents, the biggest jump since at least July 2007, as analysts from Bank of America Corp. to Exane BNP Paribas upgraded the shares after Italy’s fourth-biggest bank said regulatory approval to use internal risk models boosted its Tier 1 capital.

Man Group Plc gained 4.7 percent to 78.8 pence, recouping some of last week’s 14 percent slump. The world’s largest publicly traded hedge fund has agreed to buy FRM Holdings Ltd., adding $8 billion of assets invested in other hedge fund managers as its own stock price sinks.

U.S. stocks advanced, driving the Standard & Poor’s 500 Index toward the biggest increase in almost a month, after China signaled it would support the economy and German and French officials met before a summit.

Stocks rebounded from a four-month low as Chinese Premier Wen Jiabao pledged to focus more on bolstering growth. Germany and France agree that they will do “everything necessary” to ensure Greece remains in Europe’s single currency, Finance Minister Wolfgang Schaeuble said today in Berlin after a meeting with French Finance Minister Pierre Moscovici. European Union leaders are preparing for a summit in Brussels on May 23.

Greece may have to exit the 17-nation euro and the monetary union should plan for it to ensure

Cooper Industries jumped 26 percent, the most in the S&P 500, to $70.58. Each Cooper share will be exchanged for $39.15 in cash and 0.77479 Eaton share. That offer is valued at $72 a share based on Eaton’s May 18 closing price, 29 percent more than Cooper’s price that day, according to the statement.

Financial shares in the S&P 500 rallied, following last week’s 7 percent tumble, even as JPMorgan Chase & Co. (JPM) retreated. The lender, which lost 3.7 percent earlier today, fell 1.7 percent to $32.92. JPMorgan suspended its daily stock repurchase program because the bank needs the money to meet international capital rules, not because of trading losses, Chief Executive Officer Jamie Dimon said.

Facebook tumbled 11 percent to $34.05. It rose 0.6 percent in its first day of trading on May 18. The offering valued Facebook at 107 times trailing 12-month earnings, more than every S&P 500 member except Amazon.com Inc. and Equity Residential. Facebook is trying to attract more marketers to boost sales as competition increases. General Motors Co. last week announced plans to cut Facebook advertising.

Lowe’s Cos. slumped 9.7 percent, the most in the S&P 500, to $25.73. The second-largest U.S. home-improvement retailer reduced its forecast for full-year earnings to a range of $1.73 to $1.83 from $1.75 to $1.85 because of a smaller increase in profit margins than it had previously expected.

Resistance 3:1330 (May 17 high)

Resistance 2:1320 (resistance line from May 15)

Resistance 1:1310 (May 18 high)

Current price: 1305,00

Support 1:1288 (session low)

Support 2:1275 (МА (200) for D1)

Support 3:1240 (area of Dec 28-29 lows)

U.S. stock futures rose as China signaled it would support the economy and German and French officials prepared to meet before a summit.

Global Stocks:

Nikkei  8,633.89 +22.58 +0.26%

Hang Seng 18,922.32 -29.53 -0.16%

Shanghai Composite 2,348.3 +3.78 +0.16%

FTSE  5,297.87 +30.25 +0.57%

CAC  3,014.67 +6.67 +0.22%

DAX 6,310.49 +39.27 +0.63%

Crude oil $91.59 (+0.12%)

Gold $1588.00 (-0.24%)

Morgan Stanley (MS) was downgraded to Underperform from Outperform.

Citigroup (C) was downgraded to Underperform from Market Perform.

JPMorgan (JPM) was downgraded to Underperform from Market Perform.

Bank of America (BAC) was downgraded to Underperform from Market Perform.

European stocks climbed as China’s pledge to boost growth helped offset concern over Greece’s possible exit from the euro area. U.S. index futures rose, while Asian shares pared gains.

Currently:

FTSE   5,293.91 +26.29 +0.50%

CAC   3,018.35 +10.35 +0.34%

DAX 6,320.15 +48.93 +0.78%

China Premier Wen Jiabao said China will focus more on bolstering economic growth in the world’s second-largest economy.

Barclays Plc gained 1.7% after the lender said it plans to sell its entire holding in BlackRock Inc. through a registered offering and related buyback by BlackRock. Barclays Capital, Morgan Stanley and Bank of America Merrill Lynch are acting as joint bookrunners in the offering.

Man Group Plc (EMG) gained 6.2%. The world’s largest publicly traded hedge fund has agreed to buy FRM Holdings Ltd., adding $8 billion of assets invested in other hedge fund managers as its own stock price sinks.

Man will pay as much as $82.8 million in cash over three years, depending on the level of assets FRM retains following the takeover.

Ryanair (RYA) fell 2.4% after the Europe’s largest discount airline forecast net income will probably be in the range of 400 million euros to 440 million euros this year amid higher fuel costs.

The company still posted a 25% increase in net income to 502.6 million euros ($643 million) in the 12 months to March 31. Ryanair had forecast earnings of 480 million euros on Jan. 30 and analysts had expected a figure of 487 million euros. The stock pared its earlier decline of as much as 6.6%.

Asian stocks rose, with the regional index rebounding from its biggest drop in six months, after Premier Wen Jiabao said China will focus more on bolstering economic growth.

Nikkei 225 8,633.89 +22.58 +0.26%

S&P/ASX 200 4,073.6 +27.14 +0.67%

Shanghai Composite 2,348.3 +3.78 +0.16%

China Overseas Land & Investment Ltd., a developer controlled by the nation’s construction ministry, rose 1.5 percent in Hong Kong.

BHP Billiton Ltd. climbed 2 percent in Sydney after RBC Capital Markets said the world’s largest mining company may start a new share buyback.

Nintendo Co., a manufacturer of game consoles that gets a third of its sales in Europe, fell 1.2 percent in Tokyo. OCI Co., a petro and coal chemicals maker, slumped 4.4 percent in Seoul after delaying expansion plans because of Europe’s debt crisis.

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.

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.