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Analytics, News, and Forecasts for CFD Markets: stock news — 24-04-2012.
European stocks rebounded from a three-month low as earnings from Nordea Bank AB to Kone Oyj topped analyst estimates and sales of new homes in the U.S. exceeded forecasts.
National benchmark indexes gained in all of the 18 western European markets, except Greece. France’s CAC 40 (CAC) rose 2.3 percent, the U.K.’s FTSE 100 increased 0.8 percent and Germany’s DAX Index added 1 percent.
Nordea Bank climbed 3.8 percent to 56.60 kronor after saying first-quarter profit rose 4.5 percent as loan losses receded and it made more money from its lending business. Net income grew to 773 million euros from 740 million euros a year earlier. That beat the 738 million-euro average estimate of analysts.
Kone rallied 8.2 percent to 44.59 euros, the biggest jump in three years. The company reported first-quarter net income of 108.6 million euros, compared with the 94.6 million-euro average estimate.
Cove Energy Plc advanced 4.6 percent to 227 pence after agreeing to be bought by Royal Dutch Shell Plc as Europe’s largest oil company increased its bid to 1.12 billion pounds ($1.8 billion).
U.S. stocks advanced, following yesterday’s decline in the Standard & Poor’s 500 Index, amid better-than-estimated earnings at companies from AT&T Inc. to 3M Co. and as data indicated the housing market is stabilizing.
Economic optimism helped fuel gains today as new home sales data indicated that cheaper borrowing costs are helping stabilize the real estate market. Federal Open Market Committee members begin a two-day meeting today and policy makers tomorrow will probably repeat their plan to keep the benchmark interest rate low at least through late 2014, economists say.
DOW 13,008.50 +81.28 0.63%, S&P 500 1,370.49 +3.55 0.26%, NASDAQ 2,960.35 -10.10 -0.34%
AT&T (T) added 3.5 percent to $31.68. Earnings beat estimates on lower smartphone upgrade costs and an increase in wireless data sales related to Apple’s iPad. AT&T activated 4.3 million iPhones, up from 3.6 million a year earlier and down from a record 7.6 million in the fourth quarter.
3M (MMM) increased 2 percent to $88.84. The U.S. market drove sales at the industrial and transportation unit, the largest division at 3M. Operating profit slumped 29 percent at the display and graphics business, which serves the manufacturers of liquid crystal display televisions with optical films.
IBM (IBM) gained 1.2 percent to $201.03. The quarterly payout will rise 10 cents to 85 cents a share, Armonk, New York-based IBM said today in a statement before a shareholder meeting in North Charleston, South Carolina. IBM had $5.7 billion remaining from a previous buyback plan, bringing the total available for repurchases to $12.7 billion.
Netflix Inc. tumbled 14 percent to $87.90. The world’s largest video-subscription service projected a slowdown in growth of U.S. streaming customers.
Resistance 3:1388 (area of Apr 13, 17 and 19 highs)
Resistance 2:1383 (Ap 20 highh)
Resistance 1:1373 (МА (200) for Н1)
Current price: 1368,75
Support 1:1360 (session low)
Support 2:1354/52 (area of Apr 10 and 23 lows)
Support 3:1338 (low of March)
U.S. stock futures were mixed as a bounce in European markets and strong results from a number of blue chip companies helped fuel investor optimism ahead of quarterly results from Apple Inc.
Global Stocks:
Nikkei 9,468.04 -74.13 -0.78%
Hang Seng 20,677.16 +52.77 +0.26%
Shanghai Composite 2,388.83 +0.25 +0.01%
FTSE 5,660.98 -4.59 -0.08%
CAC 3,117.08 +18.71 +0.60%
DAX 6,511.7 -11.30 -0.17%
Crude oil: $103.82 (+0.69%).
Gold: $1646.10 (+0.83%).
3M (MMM): Q1 EPS of $1.59 vs cons $1.48. Revenue of $7.49B (+2.4% Y/Y, in-line). Shares +3.06% premarket
AT&T (T): Q1 EPS of $0.60 vs cons $0.57. Revenue of $31.8B (+1.8% Y/Y, in-line). Shares +1.31% premarket
Asian stocks fell for a fourth day as political uncertainty in Europe sparked concern the region will struggle to contain its debt crisis.
Sony Corp., Japan’s biggest consumer electronics exporter that gets about a fifth of sales from Europe, slid 1.7 percent.
Nikkei 225 9,468.04 -74.13 -0.78%
Hang Seng 20,657.48 +33.09 +0.16%
S&P/ASX 200 4,360.45 +8.02 +0.18%
Shanghai Composite 2,388.83 +0.25 +0.01%
United Phosphorus Ltd. dropped 5.8 percent in Mumbai after India’s competition regulator imposed a penalty on the nation’s largest pesticide maker.
Paladin Energy Ltd. sank 6.3 percent in Sydney after the uranium producer sold convertible notes.
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.
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 joined a global selloff as political uncertainty in France and the Netherlands intensified concern about Europe’s sovereign debt crisis.
Equities from Hong Kong to Paris and Sao Paulo slumped as the Dutch prime minister ran out of room to maneuver after budget talks with Geert Wilders’s Freedom Party collapsed, triggering doubts about his country’s ability to retain its AAA credit rating. French President Sarkozy and challenger Francois Hollande will be in a second round of elections, vying to lead a country split over measures to end a debt crisis.
Economic concern grew as euro-area manufacturing fell and data indicated China’s production will contract for a sixth month.
DOW 12,927.20 -102.09 -0.78%, S&P 500 1,366.94 -11.59 -0.84%, NASDAQ 2,970.45 -30.00 -1.00%
American banks joined a 3 percent drop in a gauge of European lenders. Bank of America (ВАС) declined 2.2 percent to $8.18. The shares have risen 47 percent this year. Citigroup Inc. decreased 1.9 percent to $33.25.
Wal-Mart (WMT) slumped 4.7 percent, the most in the Dow, to $59.54. 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 Co. tumbled 6.1 percent to $50.70. The largest U.S. maker of breakfast cereal cut its full-year earnings forecast, citing weaker-than-expected results in the first quarter.
Apple Inc., which reports results tomorrow, fell 0.2 percent to $571.70, after swinging between gains and losses. Since rising to a record on April 9, the shares have lost 10 percent as some investors speculated Apple may not be able to keep growing at the pace that made it the most valuable technology company.
Change % Change Last
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%
FTSE 100 5,665.57 -106.58 -1.85%
CAC 40 3,098.37 -90.21 -2.83%
DAX 6,523 -227.12 -3.36%
DOW 12,927.20 -102.09 -0.78%
S&P 500 1,366.94 -11.59 -0.84%
NASDAQ 2,970.45 -30.00 -1.00%
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