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Analytics, News, and Forecasts for CFD Markets: stock news — 29-11-2012.
European stocks rallied to their highest in 17 months as optimism grew that U.S. President Barack Obama will reach an agreement with Congress on a new budget.
Obama said after European markets closed yesterday that the two political parties can agree on a framework for a budget deal to prevent $607 billion of automatic tax increases and spending cuts from coming into effect in January.
A European Commission report showed that economic confidence in the euro area climbed in November from a three- year low. The index of executive and consumer sentiment in the region increased to 85.7 from a revised 84.3 in October. Economists had forecast the gauge would be unchanged from an initial reading of 84.5.
Another release showed German unemployment rose less this month than economists had predicted. The number of people without jobs increased 5,000 to 2.94 million, the Federal Labor Agency said. Economists had forecast joblessness would climb by 16,000, according to the average estimate.
National benchmark indexes advanced in every western- European market except Greece. The U.K.’s FTSE 100 climbed 1.2 percent, France’s CAC 40 gained 1.5 percent and Germany’s DAX added 0.8 percent.
Rio Tinto jumped 5.1 percent to 3,090 pence after saying it will cut $5 billion from operating and support costs next year. The mining company also said that it will increase production at its iron ore, copper and alumina units.
Invensys Plc soared 8.9 percent to 305 pence. The maker of software for London Underground trains will probably be acquired after completing the sale of its rail-signaling division to Siemens AG, RBC said. After the close of European trading yesterday, Invensys said it agreed to sell the unit to Siemens for 1.74 billion pounds ($2.8 billion). Вarclays Plc and Bank of America Corp. also recommended buying the shares. Invensys posted its biggest two-day rally since at least 1988.
Volkswagen AG added 1.3 percent to 165.80 euros, its highest price in at least 20 years, after Europe’s largest carmaker said it will extend its partnership with China’s FAW Group beyond 2016, when the existing contract expires. The new joint venture will run for an additional 25 years. Both companies concluded that neither side has infringed on technology patents, Volkswagen said.
Boehner giving readout after meeting with Geithner and speaking to Obama, saying Dems have yet to get serious on fiscall cliff, saw no specific plans.
Positive impact on investors has news that U.S. President Barack Obama and Republicans can come to an agreement on the budget. Obama said he is confident that the government and the Congress before Christmas can agree on how to avoid the "fiscal cliff." Between the Democrats who control the Senate, and Republicans have a majority in the House, there is a "complete agreement, at least in theory," the need to preserve the "Bush" tax breaks for the "middle class."
Optimistic comments were heard from the speaker of the U.S. House of Representatives John Boehner that the Republicans can come to an agreement with the White House on the budget.
Unemployment in Germany in November 2012 did not change and remained at the October level of 6.9%, according to data of the Federal Employment Agency (BA) of Germany.
FTSE 100 5,850.16 +46.88 +0.81%
CAC 40 3,548.85 +33.66 +0.96%
DAX 7,393.36 +49.95 +0.68%
Shares of Rio Tinto Group climbed 2.3%. Paper Volkswagen AG gained 0.9% through the extension of the agreement on a joint venture with Chinese automaker FAW Group. Invensys Plc capitalization increased by 13%, recommendations svyazis Barclays and Bank of America to buy shares of the company.
Asian stocks rose as U.S. lawmakers said they’re optimistic for an agreement to avoid automatic spending cuts and tax increases and as the leader of Japan’s opposition party called for unlimited monetary policy easing.
Nikkei 225 9,400.88 +92.53 +0.99%
S&P/ASX 200 4,477.73 +30.42 +0.68%
Shanghai Composite 1,963.49 -10.04 -0.51%
Honda Motor Co., a carmaker that gets 44 percent of its sales in North America, gained 2 percent in Tokyo.
Sky Network Television Ltd., New Zealand’s largest pay-TV operator, jumped the most in more than a year in Wellington after announcing a special dividend.
Starpharma Holdings Ltd. tumbled 29 percent in Sydney after the biotechnology company said it won’t file a application for a new drug in the U.S. after a disappointing clinical trial.
Asian stocks fell, with a regional benchmark index headed for its first loss in six days, as the Organization for Economic Cooperation and Development said failure to prevent the so-called fiscal cliff in the U.S. would increase the risk of a global recession.
Nikkei 225 9,308.35 -114.95 -1.22%
S&P/ASX 200 4,447.31 -9.52 -0.21%
Shanghai Composite 1,973.52 -17.64 -0.89%
BHP Billiton Ltd., the world’s largest mining company, sank 1 percent in Sydney, leading losses among companies with earnings closely tied to economic growth.
Komatsu Ltd., which gets about a quarter of its sales in the U.S., fell 1.7 percent.
Hulic Co. tumbled 11 percent after the Japanese real-estate operator said it plans a share sale.
European stocks were little changed as investors assessed conflicting reports about the progress of U.S. budget negotiations aimed at avoiding automatic tax increases and spending cuts from coming into force next year.
Boehner told reporters in Washington that politicians will continue their discussions “sooner rather than later” to avoid the so-called fiscal cliff.
Erskine Bowles, the co-chairman of Obama’s 2010 fiscal commission said it was unlikely the president and Congress will reach an agreement by the end of this year. “I’m really worried,” Bowles told reporters in Washington. “I believe the probability is we’re going over the cliff.”
Reid, speaking to reporters in Washington, said that following a Nov. 16 White House meeting, Republicans backed away from their openness to considering new tax revenue as part of the budget.
National benchmark indexes retreated in 11 of the 18 western-European markets. France’s CAC 40 Index gained 0.4 percent, while the U.K.’s FTSE 100 added less than 0.1 percent. Germany’s DAX advanced 0.2 percent.
Celesio retreated 2.6 percent to 12.94 euros after Haniel, sold 100 million euros ($129 million) of stock in the drug wholesaler. The closely held German investment company sold about 7.9 million shares at 12.60 euros apiece.
Metro declined 3.7 percent to 21.32 euros as Haniel said it will reduce its stake in Germany’s largest retailer to 30 percent from 34.2 percent within 18 months. Haniel also plans to raise about 150 million euros by selling non-strategic assets to help reduce net borrowing below 2 billion euros.
Nokia Oyj lost 1 percent to 2.54 euros. The mobile-phone maker’s American Depository Receipts lost 5.7 percent in New York yesterday after Kantar Worldpanel ComTech reported that Apple Inc.’s iPhone more than doubled its U.S. market share to 48 percent over the 12-week period ended Oct. 28.
Raiffeisen Bank International AG retreated 5 percent to 31.51 euros after eastern Europe’s second-biggest lender reported third-quarter net income of 141 million euros. That missed the average analyst estimate of 148 million euros.
Nestle climbed 1.2 percent to 60.60 francs after forming a joint venture with Chi-Med to develop gastro-intestinal treatments based on traditional Chinese medicines. Nestle Health Science and Chi-Med will each own half of Nutrition Science Partners Ltd., the companies said in a statement today.
U.S. indices started today's session lower, which intensified after the publication of the data has not met expectations for the housing market. However, later indexes retreated from session lows and were able to gain a foothold above the zero mark on the background of the speaker comments of the U.S. House John Boehner, who said the willingness to sacrifice budget revenues (meaning lower taxes), if it is combined with a reduction in costs.
After more than a week of silence negotiations to reduce tax breaks and expenditures have started to give their comments on the matter. And although there is still no specific information is not available, investors are encouraged by the presence of at least some actions to address the looming problem.
Note that today Braque Obama discussed budget issues with business leaders, including representatives of Goldman Sachs and Caterpillar.
Obama said that the agreement on the budget can be achieved in the coming weeks and hopes to reach an agreement before Christmas. Furthermore, he added that he plans to raise taxes on the rich.
The U.S. housing market, in turn, were reduced in new home sales in October, up 0.3% to 0.368 million, despite the expectations increase.
Most of the components of the index surged DOW (26 vs. 4). More than others in the share price fell Cisco Systems (CSCO, -0.74%), leading shares Hewlett-Packard (HPQ, +2.83%).
All sectors of the S & P showed moderate growth. Lead sector conglomerates (0.9%) and services (+1.0%).
Shares of American coffee producer Green Mountain Coffee Roasters jumped by 27.8% against the publication of the annual forecast for earnings that beat Wall Street estimates.
Shares of Knight Capital investment company soared 14.8% on news that Getco Holding made an offer to buy Knight Capital for $ 3.50 per share.
At the close:
Dow 12,985.03 +106.90 +0.83%
Nasdaq 2,991.78 +23.99 +0.81%
S & P 500 1,409.93 +10.99 +0.79%
Change % Change Last
Nikkei 225 9,308.35 -114.95 -1.22%
S&P/ASX 200 4,447.31 -9.52 -0.21%
Shanghai Composite 1,973.52 -17.64 -0.89%
FTSE 100 5,803.28 +3.57 +0.06%
CAC 40 3,515.19 +13.06 +0.37%
DAX 7,343.41 +11.08 +0.15%
Dow 12,985.03 +106.90 +0.83%
Nasdaq 2,991.78 +23.99 +0.81%
S&P 500 1,409.93 +10.99 +0.79%
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