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Analytics, News, and Forecasts for CFD Markets: stock news — 22-05-2012.
European stocks climbed the most in a month amid speculation that China and the euro area will do more to stimulate global economic growth.
China plans to speed up approval of infrastructure projects and allocate construction funding faster to aid growth, the China Securities Journal reported.
Germany’s Chancellor, Angela Merkel, said she may disagree with France’s President, Francois Hollande, on how to tackle the sovereign-debt crisis at a meeting on May 23.
Germany will consider all ideas on bolstering euro-area growth, Finance Minister Wolfgang Schaeuble said as he and his French counterpart, Pierre Moscovici, met.
National benchmark indexes climbed in 16 of the 18 western- European markets. The U.K.’s FTSE 100 and France’s CAC 40 advanced 1.9 percent. Germany’s DAX increased 1.7 percent.
Vodafone gained 4.2 percent to 172 pence. Europe’s largest mobile-phone company said fourth-quarter service revenue excluding currency swings and acquisitions increased 2.3 percent. It rose 0.9 percent in the previous quarter. Analysts had estimated growth of 1.7 percent.
Sonova tumbled 9.9 percent to 84.10 francs. The maker of Phonak hearing aids reported full-year earnings that missed analysts’ estimates as the strength of the Swiss franc reduced the value of sales from outside its domestic market.
U.S. stocks rose, following the biggest gain in two months for the Standard & Poor’s 500 Index, amid economic optimism as housing data beat estimates while investors speculated China and Europe will stimulate growth.
Stocks gained today as purchases of previously owned houses increased to a 4.62 million annual rate. The China Securities Journal said the nation plans to speed up approval of infrastructure projects and allocate construction funding faster to improve growth. European Union leaders are preparing to gather in Brussels tomorrow to discuss how to revive growth.
JPMorgan (JPM) climbed 4.2 percent to $34.18. It had tumbled 20 percent since it announced $2 billion in trading losses on May 10. Citigroup Inc. gained 3.1 percent to $27.07. Bank of America Corp. (BAC) rose 2.9 percent to $7.03.
Urban Outfitters Inc. climbed 6.2 percent to $27.78. The retailer that rehired co-founder Richard Hayne as chief executive officer this year reported first-quarter profit that beat analysts’ estimates on record sales.
Ralph Lauren Corp. added 1.3 percent to $148.17. The retailer of its namesake brand clothing reported profit that beat analysts’ estimates because of sales gains at its own shops and department stores.
Facebook, the social networking site that raised $16 billion in an initial public offering, fell 4.5 percent to $32.50. 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. The slump reinforces concern that the IPO was priced too high.
Resistance 3:1346 (May 15 high)
Resistance 2:1340 (May 16 high)
Resistance 1:1330 (May 17 high)
Current price: 1323,00
Support 1:1312 (session low)
Support 2:1293 (area of May 18, 21 European session lows)
Support 3:1240 (area of May 18, 21 lows)
U.S. stock futures were little changed as investors speculated China and Europe will stimulate growth.
Global Stocks:
Nikkei 8,729.29 +95.40 +1.10%
Hang Seng 19,039.15 +116.83 +0.62%
Shanghai Composite 2,373.31 +25.01 +1.06%
FTSE 5,363.37 +58.89 +1.11%
CAC 3,061.55 +34.40 +1.14%
DAX 6,393.89 +62.85 +0.99%
Crude Oil $92.18 (-0.42%)
Gold $1579.50 (-0.58%)
Asian stocks rose for a second day on speculation China and Europe will do more to bolster economic growth, boosting the outlook for the region’s exporters.
Nikkei 225 8,729.29 +95.40 +1.10%
S&P/ASX 200 4,121 +47.38 +1.16%
Shanghai Composite 2,369.97 +21.67 +0.92%
LG Electronics Inc., South Korea’s electronics maker that depends on Europe for 16 percent of its sales, rose 7.6 percent.
Guangzhou R&F Properties Co. led Chinese developers higher as a leading index rose and after a report the country will bring forward infrastructure investment.
Woori Finance Holdings Co. jumped 6.5 percent in Seoul as South Korea’s top financial regulator said the government needs to cut its stake in the company.
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.
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 rose, giving the Standard & Poor’s 500 Index its biggest rally in more than two months, after China signaled it would support growth while German and French officials said they will work to keep Greece in the euro.
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 after a meeting with French Finance Minister Pierre Moscovici.
Cooper Industries jumped 25 percent, the most in almost 11 years, to $69.88. 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.
Yahoo! Inc. advanced 1 percent to $15.58. Alibaba Group Holding Ltd., China’s largest e-commerce provider, agreed to repurchase about a 20 percent stake in itself from the U.S. Web portal for about $7.1 billion.
Facebook tumbled 11 percent to $34.03. It rose 0.6 percent in its first day of trading on May 18.
A gauge of diversified financial shares in the S&P 500 retreated. David Trone, an analyst at JMP Securities LLC, downgraded some banks including JPMorgan and Bank of America. He said risk/reward is “highly unattractive.” JPMorgan (JPM) fell 2.9 percent to $32.51. Bank of America (ВАС) slumped 2.7 percent to $6.83.
Lowe’s Cos. slumped 10 percent, the most since 2009, to $25.60. 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.
Campbell Soup Co. fell 2 percent to $32.75 after posting a decline in third-quarter profit as the company works to revive its struggling soup business.
Change % Change Last
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%
FTSE 100 5,304.48 +36.86 +0.70%CAC 40 3,027.15 +19.15 +0.64%
DAX 6,331.04 +59.82 +0.95%
Dow 12,504 +135 +1.09%
Nasdaq 2,847 +68 +2.46%
S&P 500 1,316 +21 +1.60%
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