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Analytics, News, and Forecasts for CFD Markets: stock news — 30-08-2012.
European stocks fell for a third day as data from Japan to Germany added to evidence that global growth is slowing while speculation cooled that Federal Reserve Chairman Ben S. Bernanke will announce more stimulus.
Daimler AG (DAI) and Fiat SpA (F) led a selloff in carmakers as Morgan Stanley said earnings in Europe are at risk. WPP (WPP) Plc dropped 1.9 percent after the world’s largest advertising company cut its sales-growth forecast. Carrefour (CA) SA and Vivendi (VIV) SA climbed after earnings topped analyst estimates.
The benchmark Stoxx Europe 600 Index (SXXP) fell 0.7 percent to 265.28, extending this week’s decline to 1 percent.
Reports today showed retail sales in Japan fell 0.9 percent in July from a year earlier, more than economists forecast, while confidence among manufacturers in South Korea stayed near the lowest level since the global financial crisis. Data out of Australia showed home-building approvals tumbled by the most in almost a decade.
In Europe, German unemployment increased for a fifth straight month in August while economic confidence in the euro area fell more than economists forecast to a three-year low.
National benchmark indexes retreated in every western European market today, except Iceland.
FTSE 100 5,719.45 -24.08 -0.42% CAC 40 3,379.11 -34.78 -1.02% DAX 6,895.49 -115.08 -1.64%
Daimler led a gauge of carmakers down 4.4 percent for the biggest decline among 19 industry groups in the Stoxx 600. The German maker of luxury vehicles fell 5.7 percent to 39 euros, Italy’s Fiat dropped 2.5 percent to 4.32 euros and Renault SA (RNO) slid 4 percent to 36.56 euros in Paris trading.
WPP slid 1.9 percent to 815.5 pence after the advertising company reduced its full-year revenue-growth forecast as clients cut spending amid the European debt crisis. Sales excluding the impact of acquisitions and currency fluctuations will grow “close to 3.5 percent” this year versus an earlier forecast for 4 percent, the company said.
BHP Billiton Ltd. (BHP) and Rio Tinto Group fell 3.2 percent to 1,844 pence and 2.1 percent to 2,716 pence respectively as iron ore sank to the lowest in almost three years in China.
Xstrata Plc (XTA) slid 2.4 percent to 901.7 pence and Glencore International Plc (GLEN) dropped 3 percent to 357.50 pence as Qatar Holding LLC, which has a 12 percent stake in Xstrata, said it will not support a merger between the two companies.
Hays Plc (HAS) tumbled 9.7 percent to 69.25 pence after the recruiter reported a 7 percent decline in full-year net fees, or payments from clients less the payroll costs of workers, for the U.K. and Ireland.
Pernod-Ricard SA (RI) declined 2.1 percent to 85.98 euros after France’s largest distiller reported a 9 percent gain in so- called organic operating profit in the year to June 30, missing the median analyst estimate for a 9.6 percent increase.
Barclays Plc fell 1.7 percent to 183.2 pence after naming Antony Jenkins as its chief executive officer.
Carrefour rallied 7.7 percent to 16.96 euros after the world’s second-largest retailer reported first-half profit that beat analysts’ estimates. Recurring operating income declined to 769 million euros ($965 million) from 838 million euros.
Vivendi gained 3.2 percent to 15.60 euros after Europe’s biggest media and telecommunications company reported second- quarter net income, adjusted for one-time gains and costs, of 706 million euros. That also beat analyst estimates of 652 million-euros. The company also raised its full-year forecast for the Activision Blizzard Inc. video-game unit.
ING Groep NV (INGA) rallied 2.8 percent to 5.92 euros after Bank of Nova Scotia agreed to buy the Dutch company’s Canadian unit for C$3.13 billion ($3.16 billion). Canada’s third-largest lender will spend C$1.9 billion after deducting excess capital at ING Direct in the cash deal.
Eiffage SA (FGR) surged 7.4 percent to 24.43 euros after France’s third-largest builder reported an 11 percent gain in first half operating income to 499 million euros as profitability at its APRR toll-road operation climbed.
Gemalto NV (GTO) advanced 5.4 percent to 62.66 euros after the inventor of the smart chip used in bank and phone cards said it will reach its 2013 profit target a year early. Earnings from operations rose 56 percent to 115 million euros, beating the average analyst estimate of 101.3 million euros.
The futures fell on doubts about the likelihood of Fed Chairman Bernanke saying anything substantive in tomorrow's speech. S&P futures suggest a down open of about six points.
Global Stocks:
Nikkei 8,983.78 -86.03 -0.95%
Hang Seng 19,552.91 -235.60 -1.19%
Shanghai Composite 2,052.58 -0.65 -0.03%
FTSE 5,733.37 -10.16 -0.18%
CAC 3,400.94 -12.95 -0.38%
DAX 6,954.22 -56.35 -0.80%
Crude oil $95.34 -0,16%
Gold $1665.90 -0.17%
European stock indices are down for the third consecutive day, as data from Japan and Korea have added evidence that global growth is slowing, while the likelihood that the Federal Reserve Chairman Ben Bernanke will announce the host another round of QE is reduced.
Shares of BHP Billiton Ltd (BHP) and Rio Tinto Group lost more than 1.5% on the fact that the price of iron ore has fallen to its lowest level in nearly three years.
WPP Plc fell 2.8% after the largest advertising company in the world has reduced the outlook for sales growth.
Shares of Carrefour (CA) and Vivendi SA (VIV) SA rose after earnings topped analysts' estimates.
Stoxx Europe 600 Index (SXXP) fell 0.4% to 265.98.
In South Korea, producer confidence remains near its lowest level against the background of the global financial crisis, while data from Australia showed that the number of approved applications for housing has fallen to the lowest level in the last ten years.
To date:
FTSE 100 5,730.65 -12.88 -0.22%
CAC 40 3,397.91 -15.98 -0.47%
DAX 6,946.73 -63.84 -0.91%
Asian stocks fell, with the regional benchmark index wiping out its gains for the month, as reports on Japanese retail sales and South Korean business confidence add to signs of an economic slowdown and investors doubt the Federal Reserve will announce further stimulus.
Nikkei 225 8,983.78 -86.03 -0.95%
S&P/ASX 200 4,315.7 -40.74 -0.94%
Shanghai Composite 2,050.31 -2.92 -0.14%
Samsung Electronics Co., the world’s biggest mobile-phone maker by sales, slipped 1.2 percent in Seoul.
Atlas Iron Ltd. sank 5.5 percent, leading Australian iron-ore producers lower after the metal’s price in China declined to the lowest level in almost three years.
China Cosco Holdings Co. slid 4.1 percent in Hong Kong after the nation’s largest listed shipping company posted a wider first-half loss.
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.
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.
Major stock indexes were able to keep some ground and closed with a slight increase, which was partially due to optimism about economic growth in the U.S..
During the session, the indices were trading sluggish amid weak volumes and market participants' reluctance to take positions ahead of speech Fed Chairman Ben Bernanke.
Today published revised data on U.S. GDP for the second quarter, to coincide with the projections, so a significant impact on the dynamics of trade and market sentiment did not have.
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. Ahead of us are waiting for the U.S. presidential election, which is unlikely to be taken any further action by the Fed, especially QE.
In the composition of the index DOW most components trading in positive territory. More than others in the share price rose Verizon Communications Inc. (VZ, +1.04%). More than the others fell in the share price The Coca-Cola Company (KO, -1.53%) and Intel (INTC, -1.32%).
Branches in the context of most of the major sectors of the S & P traded in positive territory. The greatest growth shows the services sector (0.3%). Sector fell more than other basic materials (-0.6%).
At the close:
Dow 13,115.23 +12.24 +0.09%
Nasdaq 3,078.97 +1.83 +0.06%
S & P 500 1,410.96 +1.66 +0.12%Change % Change Last
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%
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%
Dow 13,115.23 +12.24 +0.09%
Nasdaq 3,078.97 +1.83 +0.06%
S&P 500 1,410.96 +1.66 +0.12%
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