Analytics, News, and Forecasts for CFD Markets: stock news — 23-04-2012.

European stocks fell to a three- month low as manufacturing contracted in the euro area and China and as Dutch Prime Minister Mark Rutte offered to resign after struggling to clinch an austerity deal.

Euro-area services and manufacturing contracted more than estimated in April, to a five-month low. A composite index based on a survey of purchasing managers in both industries fell to 47.4 from 49.1 in March, London-based Markit Economics said in an initial estimate. Chinese manufacturing also shrank for a sixth month in April, according to a survey of companies. The 49.1 preliminary reading of the purchasing managers’ index from HSBC Holdings Plc and Markit today compared with a final 48.3 the previous month.

In the Netherlands, Rutte offered his Cabinet’s resignation after one of the parties in his minority coalition withdrew support. Queen Beatrix will consider the resignation, the government’s information service said. Elsewhere, French President Nicolas Sarkozy became the first incumbent since 1958 not to win the first round of the nation’s election.

National benchmark indexes dropped in all of 18 western European markets except Iceland. The Netherlands’ AEX declined 2.6 percent to the lowest level this year. France’s CAC 40 lost 2.8 percent, the U.K.’s FTSE 100 slid 1.9 percent and Germany’s DAX retreated 3.4 percent. Sweden’s OMX tumbled 4.6 percent, the biggest drop since September.

A gauge of auto-industry companies was the second-worst performer among the 19 industry groups in the Stoxx 600, tumbling 3.7 percent. Daimler AG lost 4.2 percent to 39.50 euros, Bayerische Motoren Werke AG, which today said it expects the pace of sales growth in China to ease, fell 4.1 percent to 67 euros and Renault SA sank 5.1 percent to 33.70 euros.

Basic-resource companies also retreated. ArcelorMittal, the world’s largest steelmaker, dropped 5.3 percent to 12.25 euros. Vedanta Resources Plc declined 5.7 percent to 1,167 pence and Antofagasta Plc slid 3.2 percent to 1,140 pence.

Philips limited losses in Amsterdam, rallying 3.3 percent to 14.82 euros, after the world’s biggest light-bulb maker reported profit that beat analysts’ estimates after cutting costs and selling assets.

Cable & Wireless Worldwide Plc jumped 12 percent to 35.9 pence after Vodafone Group Plc agreed to buy the U.K. company for 1.04 billion pounds ($1.7 billion). The world’s largest wireless operator offered 38 pence a share after India’s Tata Communications Ltd. last week failed to agree on a price.

U.S. stocks fell, joining a global slump, as Dutch Prime Minister Mark Rutte offered to quit after lawmakers split over austerity plans and French President Nicolas Sarkozy lost the first round of his re-election bid.
Equities from Hong Kong to Paris and Sao Paulo slumped as the Dutch prime minister offered his cabinet’s resignation today after losing the Freedom Party’s support over the weekend on disagreements about an austerity package. French President Sarkozy and challenger Francois Hollande threw themselves into the second round of election, vying to lead a country split over tackling immigration and ending a sovereign debt crisis.
Concern about the global economy grew as euro-area services and manufacturing declined more than estimated, while data indicated China’s production will contract for a sixth month.
Dow 12,892.16     -137.10        -1.05%, Nasdaq       2,965.88       -34.57 -1.15%, S&P 500    1,364.68         -13.85 -1.00%
American banks joined a 3 percent drop in a gauge of European lenders. Bank of America (ВАС) declined 2 percent to $8.19. Citigroup decrease 2.3 percent to $33.11.
Wal-Mart (WMT) slumped 4.9 percent, the most in the Dow, to $59.38. Its probe of possible bribery in Mexico may prompt executive departures and steep U.S. government fines if it reveals senior managers knew about the payments and didn’t take strong enough action, corporate governance experts said.
Kellogg tumbled 5.4 percent to $51.08. Earnings per share, including the impact of its acquisition of Pringles potato chips, will be $3.18 to $3.30 for the year, the Battle Creek, Michigan-based company said today in a statement. Kellogg previously predicted $3.25 to $3.37 a share. Analysts projected $3.48, the average of estimates compiled by Bloomberg.
Apple Inc., which reports results tomorrow, dropped 0.6 percent to $569.69. On average, the analysts estimate fiscal second-quarter earnings of $9.96 a share.
Xerox Corp. added 1.9 percent to $8.02. The provider of printers and business services reported first-quarter earnings that exceeded analysts’ estimates after businesses and governments farmed out more tasks to cut costs.

Resistance 3:1373 (МА (200) for Н1, session high)

Resistance 2:1365 (Apr 19 low)

Resistance 1:1360 (earlier support, area Apr 16-17 lows)

Current price: 1355,75

Support 1:1352 (Apr 10 low)

Support 2:1338 (low of March)

Support 3:1334 (Feb 10 and 16 lows)

U.S. stock futures fell after data showed that manufacturing shrank in the euro-area and China while concern grew about Europe’s sovereign debt crisis.

Global Stocks:

Nikkei  9,542.17 -19.19 -0.20%

Hang Seng 20,624.39 -386.25 -1.84%

Shanghai Composite 2,388.59 -18.28 -0.76%

FTSE  5,673.79 -98.36 -1.70%

CAC  3,118.74 -69.84 -2.19%

DAX 6,559.92 -190.20 -2.82%

Crude oil: $102.66 (-1.17%)

Gold: $1628.50 (-0.87%)

Asian stocks fell, with the regional benchmark index heading for a third straight daily decline, after companies from Daewoo Engineering & Construction Co. to Tokyo Steel Manufacturing Co. posted weaker earnings and a report China’s manufacturing may shrink for a sixth month.

Nikkei 225 9,542.17 -19.19 -0.20%

Hang Seng 20,728.51 -282.13 -1.34%

S&P/ASX 200 4,352.4 -14.10 -0.32%

Shanghai Composite 2,388.59 -18.28 -0.76%

Daewoo Engineering dropped 4.4 percent in Seoul after the construction company posted a 38 percent drop in first-quarter operating profit. Tokyo Steel slumped 7.6 percent as the steelmaker’s full-year loss widened. China Mobile Ltd., the world’s biggest carrier by subscribers, fell 2.2 percent in Hong Kong after posting first-quarter net income that missed analysts’ estimates.

Stocks: Weekly’s review

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.