European stock markets closed down growth, as the focus of many investors now are the results of the elections in Italy.
The cost of Pearson Plc fell 3.7% to 1,171 pence, while showing the biggest drop since July 27, after the Financial Times said that projected operating profit for 2013 will match last year.
Shares of Reckitt Benckiser Group Plc (RB /) fell 3% after fixing with the largest drop since May, after it was reported that U.S. regulators have agreed to two nenazvanym generics manufacturers to manufacture tablets.
The cost of Deutsche Boerse AG jumped 5.6 percent to 49.30 euros, showing the biggest gain since June 29, after four people familiar with the situation, but who wanted to remain anonymous, said the possible merger talks.
Stoxx Europe 600 Index (SXXP) fell less than 0.1 percent to 288.40 at the close of trading.
National indexes rose in 14 of the 18 western European markets.
FTSE 100 6,355.37 +19.67 +0.31% CAC 40 3,721.33 +15.05 +0.41% DAX 7,773.19 +111.28 +1.45%
PostNL cost rose by 6.6% to 1.97 euros, while showing the largest gain since January 21, after it was reported that fourth-quarter profit before interest and tax amounted to 219 million euros ($ 290 million). Note that according to the average forecast profit was $ 144 million.
BP Plc shares rose 1.6% to 451.2 pence on the background of the fact that today the commencement of the proceedings of the rupture of oil in the Gulf in 2010.
U.S. stock futures have grown on speculation Bank of Japan and other major central banks will continue to provide monetary stimulus.
Global Stocks:
Nikkei 11,662.52 +276.58 +2.43%Other:
Apple (AAPL) was reiterated at Buy at Needham, target lowered from $750 to $710
European stocks gained amid speculation Japan may appoint a central bank chief who favors stimulus and as investors awaited the result of Italy’s elections.
In Japan, Prime Minister Shinzo Abe will probably nominate Asian Development Bank President Haruhiko Kuroda as Bank of Japan governor, two government officials with knowledge of the discussions said. Kuroda said earlier this month additional monetary easing can be justified for 2013.
Pollsters will release initial estimates of the Italian election results after 3 p.m. in Rome today. Incumbent Mario Monti and front-runner Pier Luigi Bersani of the Democratic Party have vowed to maintain budget rigor, while Silvio Berlusconi and Beppe Grillo have promised to stop tax increases.
The U.K. lost its top credit rating from Moody’s Investors Service, which cited weakness in the country’s growth outlook and challenges to the government’s fiscal consolidation program. Moody’s said late Feb. 22 that it lowered the rating one level to Aa1 from Aaa and changed the outlook on the nation’s debt to stable from negative.
In China, the preliminary reading of a Purchasing Managers’ Index was 50.4 in February, according to HSBC Holdings Plc and Markit Economics. That compared with the 52.3 final reading for January and the 52.2 median estimate of 11 analysts . A number above 50 indicates growth.
BP gained 6.45 pence to 450.5 pence as a U.S. trial over the 2010 Gulf of Mexico oil spill begins today. The U.S. and Gulf states are considering a $16 billion accord with BP over pollution fines and natural-resource damages claims, the Wall Street Journal reported on Feb. 22, citing unidentified people familiar with the matter.
Pearson Plc retreated 3.1 percent to 1,178 pence after saying it expects tough market conditions to continue this year. The publisher of the Financial Times newspaper forecast 2013 operating profit will be in line with 2012, when earnings fell.
FTSE 100 6,372.91 +37.21 +0.59%
CAC 40 3,758.71 +52.43 +1.41%
DAX 7,828.3 +166.39 +2.17%
Asian stocks rose, extending last week’s advance, as Japanese shares led gains on speculation the next Bank of Japan governor will deploy aggressive monetary easing. Hong Kong developers fell after the city doubled taxes on some property transactions.
Nikkei 225 11,662.52 +276.58 +2.43%
S&P/ASX 200 5,055.77 +37.62 +0.75%
Shanghai Composite 2,325.82 +11.66 +0.50%
JFE Holdings Inc., Japan’s No. 2 steelmaker by market value, jumped 8.6 percent for the second-biggest advance on the MSCI Asia Pacific Index.
Beach Energy Ltd. rose 5.8 percent in Sydney after Chevron Corp. agreed to partner with the energy company on gas exploration.
Sun Hung Kai Properties Ltd. fell 2.2 percent, pacing declines among Hong Kong developers.
Asian stocks erased losses as Japanese and Australian shares rebounded amid speculation yesterday’s decline on the regional benchmark index was excessive.
Nikkei 225 11,385.94 +76.81 +0.68%
Hang Seng 22,790.63 -116.04 -0.51%
S&P/ASX 200 5,018.15 +38.05 +0.76%
Shanghai Composite 2,314.16 -11.79 -0.51%
Commonwealth Bank of Australia, the nation’s largest lender, rose 1.1 percent after the central bank governor said interest-rate cuts should be given time to do their work.
Tosoh Corp. jumped 4.3 percent in Tokyo on a report the chemical maker developed materials that prevent lithium ion batteries from catching fire.
Belle International Holdings Ltd. declined 5.5 percent in Hong Kong as analysts from Nomura Holdings Inc. and CCB International Securities Ltd. downgraded the shoe retailer.
European shares rose for the first week in four as better-than-expected company earnings and measures of German confidence outweighed concern that the U.S. Federal Reserve will scale back its asset-purchase program.
In Germany, investor confidence increased to the highest level in almost three years in February. The index of investor and analyst expectations climbed to 48.2 from 31.5 in January, the ZEW Center for European Economic Research said this week. That exceeded the median estimate of economists in a survey calling for an increase to 35.
Separately, the Ifo institute’s business climate index for Europe’s biggest economy, based on a survey of 7,000 executives, climbed to 107.4 in February from a revised 104.3 in January. The median of 38 forecasts in a survey had called for an increase to 104.9. The latest reading was the highest since April.
Still, the euro-area economy will shrink for a second year in 2013, driving unemployment higher as governments, consumers and companies curb spending, the European Commission said.
National benchmark indexes climbed in 10 of the 18 western European markets. The U.K.’s FTSE 100 increased 0.1 percent and France’s CAC 40 added 1.3 percent. Germany’s DAX gained 0.9 percent.
Lafarge advanced 7.7 percent. The world’s biggest cement maker said it’ll meet most of a cost-cutting goal one year early after fourth-quarter earnings beat analysts’ estimates on rising sales in Asia and Latin America. Earnings before interest, taxes, depreciation and amortization rose to 856 million euros from 798 million euros a year earlier, the Paris-based company said. Analysts had expected 821.6 million euros.
Natixis rallied 18 percent. The investment-bank unit of France’s second-largest lender by branches said it will make a payment to shareholders after selling back stakes in its parent’s banking networks. The distribution amounts to 65 cents a share, and comes on top of a proposed dividend of 10 cents a share for 2012.
Royal KPN NV plunged 13 percent for the second-worst performance on the Stoxx 600 this week. America Movil SAB, the mobile-phone carrier controlled by billionaire Carlos Slim, will take part in a 3 billion-euro KPN share sale, while declining to participate in a 1 billion-euro sale of so-called hybrid instruments.
RSA Insurance Group Plc tumbled 11 percent after announcing a dividend cut. The U.K.’s biggest non-life insurer by market value lowered its payout by 33 percent as its 2012 underwriting profit was eroded by claims related to wet weather in the U.K. and earthquakes in Italy.
Major U.S. stock indexes spent trading in positive territory, reducing the weekly losses.
Indexes rebounded after two days of losses, receiving support from the Fed's Bullard comments, after a speech that expectations of imminent tightening of monetary policy the Fed decreased.
Bullard said that if the market situation improves, the Fed can reduce the volume of purchases, but abruptly stop shopping should not be, because it does not benefit the economy.
Positively to the dynamics of futures also reflected strong quarterly report Hewlett-Packard (HPQ), whose shares soared 12.3%.
Supported the growth indices and statistics of the European index of consumer confidence from Germany Gfk. According to the data, the index in February reached 107.4 points, which is the maximum level since May last year. Expected to rise to a level of the index 104.9 points against 104.2 points in January values.
Limited the growth indices published by the European Commission forecasts eurozone GDP, according to which it is expected to decline by 0.3% in 2013 (previous forecast was at +0.1%).
Also worth noting is the information from the European Central Bank (ECB) that the amount of the regular repayment of loans granted by commercial banks as part of LTRO, will be significantly lower than the previous (1.74 billion euros compared to the previous 3.79 billion euros).
Most of the components of the index DOW finished trading in the red (25 of 30). More than others in the share price fell Unitedhealth Group, Inc. (UNH, -1.39%). Leader by a wide margin were already mentioned shares Hewlett-Packard Company (HPQ, +12.28%). Earnings forecast for the world's largest PC maker Hewlett-Packard, excluding certain items in the second fiscal quarter ending in April in the range of 80 to 82 cents per share was better than expected by analysts on average, 77 cents per share.
All sectors of the S & P showed a positive trend. More than the others climbed the financial sector (+1.2%).
Quotations U.S. insurance company American International Group (AIG) rose 3.14% after it reported a exceeded the average market forecast of quarterly results. Thus, the operating profit of the company was at $ 290 million, or 20 cents a share, while analysts on average were expecting a loss of 8 cents per share.
The world's biggest producer of analog microchips Texas Instruments gained weight 5.23% due to increase its quarterly dividend by 33% to 21 cents per share to 28 cents per share and plans to expand the program to repurchase shares at $ 5 billion
Meanwhile, a U.S. manufacturer of adhesive paper and painting equipment Nordson eased 7.27% on expectations of profit in the second quarter in the range of 78 to 87 cents a share, compared with projected at average 93 cents per share.
The market capitalization of American youth clothing retailer Abercrombie & Fitch has decreased by 4.46% after it recorded a 11% rise in sales to $ 1.47 billion in the fourth quarter, which, however, fell short of analysts' average forecast of $ 1 , 49 billion
At the close:
S & P 500 1,515.6 +13.18 +0.88%
NASDAQ 3,161.82 +30.33 +0.97%
Dow 14,000.57 +119.95 +0.86%© 2000-2026. All rights reserved.
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