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Analytics, News, and Forecasts for CFD Markets: stock news — 29-08-2012.
European stocks fell for a second day as companies from L’Oreal SA to Bouygues SA (EN) retreated after reporting earnings and German Chancellor Angela Merkel clashed with Italian Prime Minister Mario Monti over whether to give the euro area’s permanent bailout fund a bank license.
L’Oreal dropped the most in 2 1/2 years after the world’s largest cosmetics maker reported profit margins that missed estimates. Bouygues, the French building, television and telecommunications company, tumbled 9 percent after trimming the earnings forecast for its phone business. Banca Monte dei Paschi di Siena SpA plunged 8 percent after posting a loss.
The Stoxx Europe 600 Index (SXXP) slipped 0.1 percent to 267.01.
Bernanke will deliver his annual speech at the Fed’s Jackson Hole symposium on Aug. 31. His address in 2010 preceded a second round of bond purchasing, or quantitative easing, to help support the economic recovery. Draghi canceled his trip to Jackson Hole yesterday, reducing speculation ECB policy makers will unveil new measures to support the economy before their Sept. 6 meeting. Draghi announced on Aug. 2 that the central bank may resume bond purchases if distressed governments ask for aid from the region’s bailout funds.
National benchmark indexes retreated in 11 of the 18 western-European markets today.
FTSE 100 5,743.53 -32.18 -0.56% CAC 40 3,413.89 -17.66 -0.51% DAX 7,010.57 +7.89 +0.11%
In the U.S., the Commerce Department’s first revision to second-quarter gross domestic product showed a gain of 1.7 percent compared with an initially reported 1.5 percent increase, matching the median forecast in survey of economists. Data from the National Association of Realtors showed U.S. pending home sales rose 2.4 percent in July from June, when they declined 1.4 percent. That was higher than the 1 percent increase forecast in a survey of economists.
L’Oreal (OR) lost 4.4 percent to 96.58 euros, the biggest drop since February 2010, as gross profit as a percentage of sales narrowed to 71 percent in the six months ended June 30 from 71.5 percent a year earlier. That was less than the 71.9 percent average estimate of analysts.
Bouygues SA sank 9 percent to 19.95 euros, the largest decline since December 2008. The French building, television and telecommunications company trimmed its 2012 earnings forecast for its phone business as it cut prices and lost customers to new entrant Iliad SA.
France Telecom SA (FTE) and Vivendi SA (VIV), which also operate French mobile-phone networks, slipped 2.3 percent to 11.06 euros and 2.1 percent to 15.17 euros, respectively.
Monte Paschi (BMPS) retreated 8 percent to 22.4 euro cents in Milan, the biggest decline since Aug. 2. Italy’s third-biggest bank posted a 1.67 billion-euro second-quarter loss after a goodwill writedown.
Raiffeisen Bank International AG (RBI), eastern Europe’s second- biggest lender, slid 5.1 percent to 26.47 euros after net income plummeted 54 percent in the second quarter as lending revenue shrank and bad debt writedowns increased.
Vestas Wind Systems A/S (VWS) dropped 4.6 percent to 38.34 kroner. Temenos Group AG (TEMN), which was also cut from the gauge, slid 2.6 percent to 13.15 Swiss francs.
Novozymes A/S (NZYMB), the world’s biggest maker of enzymes, rose 2.8 percent to 164.70 kroner after Goldman Sachs Group Inc. upgraded the stock to buy from neutral.
U.S. stock-index futures slightly rose after government data showed gross domestic product expanded more than previously estimated last quarter, matching economists’ estimates for 1.7% growth.
The index has fluctuated near the 1,400 level for three weeks as trading slowed toward the end of the U.S. summer and investors awaited the Federal Reserve’s annual gathering in Jackson Hole to gauge prospects for a possible third round of so-called quantitative easing through asset purchases.
Global Stocks:
Nikkei 9,069.81 +36.52 +0.40%
Hang Seng 19,788.51 -23.29 -0.12%
Shanghai Composite 2,053.23 -19.92 -0.96%
FTSE 5,765.74 -9.97 -0.17%
CAC 3,424.9 -6.65 -0.19%
DAX 7,014.13 +11.45 +0.16%
Crude oil $95.82 -0,53%
Gold $1668.90 -0.05%
European stocks declined amid falling share price L'Oreal (OR) SA and Bouygues SA, which was due to publish a report on the profits. U.S. index futures little changed, while Asian shares rose.
L'Oreal dropped to eleven-month low after the largest cosmetics manufacturer in the world reported that the rate of return was below analysts' expectations. The cost of the French company Bouygues fell by 7.3% after a weak report on the profits in the phone business. Shares of Banca Monte dei Paschi di Siena SpA fell 7.4 percent after the publication of the report, which showed losses.
Stoxx Europe 600 Index (SXXP) fell 0.4 percent to 266.14.
Market participants are waiting for Federal Reserve Chairman Bernanke's speech central bank symposium in Jackson Hole, to be held on August 31. His performance in 2010 was preceded by a second round of bond purchases, or quantitative easing, to support the economic recovery.
We also learned that yesterday, Draghi canceled his trip to Jackson Hole yesterday.
German Chancellor Angela Merkel in Berlin today to meet with Italian Prime Minister Mario Monti.
To date:
FTSE 100 5,745.88 -29.83 -0.52%
CAC 40 3,410.2 -21.35 -0.62%
DAX 6,956.03 -46.65 -0.67%
Asian stocks rose, with the regional benchmark index heading for its first advance in four days, as investors await a report on U.S. economic growth and Federal Reserve Chairman Ben S. Bernanke’s speech on monetary policy this week.
Nikkei 225 9,069.81 +36.52 +0.40%
S&P/ASX 200 4,356.4 -2.98 -0.07%
Shanghai Composite -19.92 -0.96%
Renesas Electronics Corp. surged 35 percent in Tokyo after the Nikkei newspaper reported that Kohlberg Kravis Roberts & Co. will shares of the chipmaker.
Samsung Electronics Co., the world’s biggest mobile-phone maker, climbed 2.9 percent after a court hearing for a permanent ban on U.S. sales of its mobile devices was set down for hearing on Dec. 6.
Daikin Industries Ltd. slid 3.5 percent after a report the Japanese air- conditioner maker will buy Houston-based Goodman Global Inc.
Asian stocks fell, with the regional benchmark index heading for a three-week low, after Japan downgraded its assessment of the world’s third-biggest economy and as investors await indications of policy direction from the Federal Reserve.
Nikkei 225 9,033.29 -52.10 -0.57%
S&P/ASX 200 4,359.4 +15.70 +0.36%
Shanghai Composite 2,073.45 +17.74 +0.86%
China Southern Airlines Co. fell 3.6 percent in Hong Kong as Asia’s biggest carrier by passenger numbers reported first- half profit tumbled. Shikoku Electric Power Co. sank 10 percent in Tokyo after Credit Suisse Group AG rated the stock underperform. Aozora Bank Ltd. surged 14 percent after the Japanese lender unveiled a plan to repay a taxpayer bailout and buy back common stock.
European (SXXP) stocks declined to a three- week low, snapping two days of gains, as the Spanish region of Catalonia asked for a bailout from the central government and Japan lowered an assessment of its economy.
G4S Plc (GFS) dropped 2 percent after the security company said that first-half profit slumped 73 percent. Banco Santander SA (SAN) slipped. Vestas Wind Systems A/S (VWS) surged 19 percent after saying it has started talks with Mitsubishi Heavy Industries Ltd. over possible cooperation.
The Stoxx Europe 600 Index slid 0.7 percent to 267.32 at the close, its lowest level since Aug. 6.
Spain’s Catalonia region said it will ask for a 5 billion- euro ($6.3 billion) loan from the country’s central government. The Spanish cabinet approved a fund of as much as 18 billion euros on July 13 to help the most indebted regional governments manage their financial deficits.
Japan’s government downgraded its view on personal consumption, housebuilding, exports, imports and industrial output in the world’s third-largest economy. It also lowered its assessment of the global economy.
Of the 314 companies listed on the Stoxx 600 that have reported first-half net income, 183 have exceeded analysts’ estimates, while 125 have missed them, according to data compiled by Bloomberg.
National benchmark indexes retreated in every western- European market today, except for Iceland and Portugal.
FTSE 100 5,775.71 -0.89 -0.02% CAC 40 3,431.55 -31.28 -0.90% DAX 7,002.68 -44.77 -0.64%
G4S retreated 2 percent to 261 pence. Net income fell to 29 million pounds ($46 million) from 108 million pounds a year earlier after failing to fulfill a staffing contract for the London Olympic and Paralympic Games.
Spanish lenders dragged a gauge of European banks lower. Santander slipped 0.8 percent to 5.57 euros. Banco de Sabadell SA (SAB) fell 0.8 percent to 2.10 euros, while Bankia SA (BKIA), which was nationalized earlier this year, lost 4.2 percent to 1.17 euros.
Vestas jumped 19 percent to 40.19 kroner, its highest price in three months. Speculation that the world’s largest turbine maker may be a bid target rose after the Sunday Times said on July 1 that the company may put itself up for sale.
Ipsen SA (IPN) gained 5 percent to 19.49 euros after reporting first-half sales of 630 million euros, exceeding the average analyst estimate of 607 million euros.
CFAO SA (CFAO) advanced 1.5 percent to 37.45 euros after Toyota Tsusho Corp. offered to buy 70 percent of the French company’s shares for 1.62 billion euros. Toyota Tsusho, the trading arm of Japan’s largest carmaker, already owns 30 percent of CFAO.
Major U.S. stock indices ended the session with a slight change, and preferably with a negative background that the housing and consumer data is not generated much interest among investors.
The focus of market participants is an economic symposium in Jackson Hole, which will begin later this week. Especially market participants expect the performances at this annual event, Ben Bernanke, the Fed chairman, he will deliver on Friday, August 31.
Participants' expectations of what the Fed says the head diverge. In the market there is no certainty that they will obtain new signals about dopmer stimulate the economy, in particular on QE3.
Support indices during the session provided data on the index of housing prices from S & P / Case-Shiller, which is the first in November 2010 showed an increase, while no significant effect on the dynamics of trading.
Also worth noting is some growth hopes for new measures to support the economy by the Federal Reserve on the data on the index of consumer confidence, which in August fell to its lowest level since November 2011 goda.V composition of the index components DOW traded mixed. More than others in the share price rose Chevron Corporation (CVX, +0.69%). Fell more than the rest in the stock price Hewlett-Packard (HPQ, -1.77%).
Branches in the context of the basic sectors of the S & P traded mixed. Grew more than others the financial sector (+0.2%) and consumer goods sector (+0.2%). The greatest decrease shows conglomerates sector (-0.2%) and utilities sector (-0.2%).
At the close:
Dow 13,102.99 -21.68 -0.17%
Nasdaq 3,077.14 +3.95 +0.13%
S & P 500 1,409.30 -1.14 -0.08%Change % Change Last
Nikkei 225 9,033.29 -52.10 -0.57%
S&P/ASX 200 4,359.4 +15.70 +0.36%
Shanghai Composite 2,073.45 +17.74 +0.86%
FTSE 100 5,775.71 -0.89 -0.02%
CAC 40 3,431.55 -31.28 -0.90%
DAX 7,002.68 -44.77 -0.64%
Dow 13,102.99 -21.68 -0.17%Nasdaq 3,077.14 +3.95 +0.13%
S&P 500 1,409.30 -1.14 -0.08%
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