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Analytics, News, and Forecasts for CFD Markets: stock news — 25-05-2012.
European stocks climbed, extending the Stoxx Europe 600 Index’s first weekly advance in May, as Italy’s Prime Minister Mario Monti said that most European Union leaders support joint bonds for the euro area.
Spain’s central government will analyze “with all caution” requests from regional governments to help them regain access to capital markets, Deputy Prime Minister Soraya Saenz de Santamaria said today after a cabinet meeting.
Catalonia will comply with its budget program and will honor its commitments, the regional government said today.
Monti told Italian television station La7 yesterday that the majority of EU leaders at a Brussels meeting this week backed joint euro-area bonds. He added that Italy can help persuade Germany to support Europe’s “common good” as well.
National benchmark indexes climbed in 13 of the 18 western- European markets. The U.K.’s FTSE 100 added less than 0.1 percent. Germany’s DAX increased 0.4 percent and France’s CAC 40 climbed 0.3 percent. Greece’s ASE sank 3.5 percent.
Lonmin and Fresnillo retreated 1.6 percent to 729 pence and 2.2 percent to 1,317 pence, respectively. Vedanta Resources Plc declined 3.3 percent to 966.5 pence. A gauge of mining companies posted the biggest decline on the Stoxx 600.
Mobistar, Belgium’s second-biggest mobile-phone company, slid 3.4 percent to 25.45 euros and Telecom Italia SpA lost 2 percent to 69.5 euro cents.
U.S. stocks fluctuated as concern about Spain’s finances tempered optimism with data showing American consumer confidence rose to the highest since 2007.
Equities were little changed as Reuters reported that Spain’s Catalonia is running out of debt financing options and needs help, quoting Catalan President Artur Mas. Spain’s government is analyzing “with all caution” requests from regional governments to help them regain access to capital markets, Deputy Prime Minister Soraya Saenz de Santamaria said.
Concern about a worsening of Europe’s debt crisis offset better-than-estimated U.S. economic data. The Thomson Reuters/University of Michigan final index of consumer sentiment climbed to 79.3 from 76.4 the prior month. The gauge was projected to hold at the preliminary reading of 77.8, according to the median forecast of economists.
Chesapeake Energy Corp. rallied 2.6 percent to $15.99. Billionaire investor Carl Icahn, known for pushing for change at the companies in which he invests, has become one of Chesapeake’s largest shareholders, said a person with knowledge of the matter.
Quest Software Inc. jumped 4 percent to $26.18. Dell Inc. is in discussions to acquire the maker of tools that help companies manage their computer systems, according to people with knowledge of the matter.
Resistance 3:1363 (May 10-11 highs)
Resistance 2:1348/50 (area of May 14-15 high)
Resistance 1:1330 (session high)
Current price: 1318,00
Support 1:1317 (area of session low and МА (200) for Н1)
Support 2:1300 (area of support line from May 21)
Support 3:1288 (area of May 18 and 21 lows)
U.S. stock futures fell amid concern Spain’s regional governments are having trouble with finances.
Spain’s government is analyzing “with all caution” requests from regional governments to help them regain access to capital markets, Deputy Prime Minister Soraya Saenz de Santamaria said. “These are complex mechanisms, which have to analyzed with all the difficulties and complexities,” she told reporters today after a cabinet meeting.
Investors also awaited the Thomson Reuters/University of Michigan final index of consumer sentiment for May. The gauge climbed to 77.8, the highest since January 2008, from 76.4 the prior month, according to the median forecast of economists.
Global Stocks:
Nikkei 8,580.39 +17.01 +0.20%
Hang Seng 18,713.41 +47.01 +0.25%
Shanghai Composite 2,333.55 -17.42 -0.74%
FTSE 5,313.91 -36.14 -0.68%
CAC 3,017.33 -20.92 -0.69%
DAX 6,284.95 -30.94 -0.49%
Crude oil $90.52 (-0.15%)
Gold $1561.50 (+0.26%)
Asian stocks fell, with the regional benchmark index extending a four-week loss, on concern China’s biggest banks may fall short of loan targets for the first time in at least seven years amid an economic slowdown.
China Minsheng Banking Corp. fell 3 percent, leading banks lower in Hong Kong.
Nikkei 225 8,580.39 +17.01 +0.20%
S&P/ASX 200 -26.65 -0.66%
Shanghai Composite 2,333.55 -17.42 -0.74%
Esprit Holdings Ltd., a clothier that depends on Europe for 79 percent of its sales, lost 3.1 percent in Hong Kong. Sims Metal Management Ltd. slid 6.1 percent in Sydney as the processor of scrap metal forecast full-year earnings will decline.
Asian stocks fell as a survey showed China’s manufacturing may shrink for a seventh month and European leaders meeting in Brussels clashed over how to fight the region’s debt crisis.
Nikkei 225 8,563.38 +6.78 +0.08%
S&P/ASX 200 4,055.8 -11.23 -0.28%
Shanghai Composite 2,351.16 -12.27 -0.52%
Nintendo Co., a maker of video-game players that depends on Europe for a third of its sales, fell 4 percent in Tokyo.
Citic Pacific Ltd., a Hong Kong-based steelmaker with operations in iron-ore mining and property development in China, slid 2.1 percent on concern China needs to do more to support growth.
Hanwha Corp., a trader of petrochemicals and machinery, rose 4 percent in Seoul after its construction unit won an $8 billion deal to build housing units in Iraq.
European stocks rebounded from the biggest drop in a month amid concern recent losses are overdone considering the outlook for company earnings.
Stocks rose today even as a report showed European services and manufacturing output contracted more than economists forecast in May. A composite index based on a survey of purchasing managers in both industries fell to 45.9 from 46.7 in April, London-based Markit Economics said. German business confidence also declined more than forecast in May. The Munich-based Ifo institute said today its business- climate index, based on a survey of 7,000 executives, slipped to 106.9 from 109.9 in April. Economists had forecast a reading of 109.4.
National benchmark indexes rose in all the western European markets today, except for Iceland and Greece. The U.K.’s FTSE 100 rallied 1.6 percent, Germany’s DAX advanced 0.5 percent and France’s CAC 40 gained 1.2 percent. The Greek ASE Index plunged 4.5 percent to the
Banco Bilbao Vizcaya Argentaria SA (BBVA) rose 2.5 percent to 4.93 euros. Spain’s second-largest lender will take non-binding bids for five portfolios of homes, non-performing loans and consumer loans until May 29, two people with knowledge of the matter said. A spokesman for BBVA declined to comment or disclose the nominal value of the portfolios.
Cable & Wireless Communications jumped 18 percent to 33.01 pence, the biggest gain since 2003. The U.K. based mobile-phone network operator reported earnings before interest, taxes, depreciation and amortization of $901 million, beating analysts’ estimates of $884.5 million, and said it expects similar levels through 2012 and 2013.
U.S. stocks erased losses as Italian Prime Minister Mario Monti said Greece is likely to stay in the euro and a majority of the region’s leaders support issuing a joint bond, offsetting earlier concern about a Chinese slowdown.
In the U.S., data showed companies placed fewer orders for computers, machinery and other capital equipment in April for a second month. Manufacturing in the U.S. expanded in May at the slowest pace in three months, indicating the industry that’s spurred the expansion is cooling.
Hewlett-Packard (HPQ) rose 3.3 percent to $21.77. The 8 percent workforce reduction, taking place through firings and early retirement offers, will generate annual savings of as much as $3.5 billion starting in 2014.
Facebook Inc. added 3.2 percent to $33.03, gaining for a second day. The social networking company is still trading below its initial public offering price of $38.
Dow Chemical Co. rallied 3.4 percent to $31.55. The chemical maker said an arbitration panel ruled that Kuwait must pay $2.16 billion in damages after it canceled a 2008 agreement to buy a stake in the company’s plastics business.
NetApp Inc. plunged 12 percent, the most in the S&P 500, to $28.82. The seller of hardware and software for storing data forecast first-quarter earnings trailing analysts’ estimates amid a weak economic outlook.
Tiffany tumbled 6.8 percent to $57.59. Chief Executive Officer Michael Kowalski said sales in the Americas region “underperformed, continuing a soft trend that began in the last quarter of 2011.” Sales in the first quarter rose 3 percent to $386 million in the Americas and declined 4 percent in the New York flagship store.
Change % Change Last
Nikkei 225 8,563.38 +6.78 +0.08%
S&P/ASX 200 4,055.8 -11.23 -0.28%
Shanghai Composite 2,351.16 -12.27 -0.52%
FTSE 100 5,350.05 +83.64 +1.59%CAC 40 3,038.25 +34.98 +1.16%
DAX 6,315.89 +30.14 +0.48%
Dow 12,530 +34 +0.27%
Nasdaq 2,839 -11 -0.38%
S&P 500 1,321 +2 +0.14%
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