Novosti i prognoe: tržište kapitala od 12-07-2013

European stocks were little changed from a five-week high, as investors awaited U.S. earnings next week, while merger and acquisition activity offset a selloff in Spanish utility companies.

Citigroup Inc. and Goldman Sachs Group Inc. are among companies to report earnings in the U.S. next week. Profit at companies listed on the Standard & Poor’s 500 Index probably rose 1.8 percent last quarter, according to Bloomberg data. That compares with a projection of 8.7 percent six months ago.

National benchmark indexes climbed in eight of the 18 western-European markets today. The U.K.’s FTSE 100 rose less than 0.1 percent while Germany’s DAX climbed 0.7 percent. France’s CAC 40 dropped 0.4 percent.

Invensys jumped 15 percent to 508 pence after Schneider Electric, the world’s largest maker of low- and medium-voltage equipment, offered to pay 505 pence a share for the British company. The bid comprises 319 pence in cash and 186 pence in new Schneider shares. Invensys said it indicated to the French company that it will probably recommend the offer. Schneider fell 4.1 percent to 55.70 euros in Paris.

Phoenix jumped 10 percent to 719 pence after the U.K.’s biggest manager of closed life-insurance funds said it’s in preliminary talks to combine with Swiss Re’s Admin Re unit.

Swedish Match AB gained 2.6 percent to 248.60 kronor in Stockholm after the Daily Mail reported speculation that Imperial Tobacco Group Plc may make a bid of 350 kronor ($52.51) a share for the maker of smokeless-tobacco products. The newspaper did not cite anyone.

In Spain, the government announced plans to cut profit for renewable energy companies and the electric grid operator as part of Prime Minister Mariano Rajoy’s effort to eliminate a 4.5 billion euro deficit forecast this year for the industry.

Iberdrola SA, Spain’s biggest power company, fell 3.4 percent to 3.87 euros. Endesa SA slumped 4.6 percent to 16 euros, while Acciona SA, which owns more than 4 gigawatts of wind farms in the country, tumbled 8.5 percent to 37.95 euros. Red Electrica Corp. slid 7.5 percent to 38.34 euros.

U.S. stock-index futures were little changed as investors weighed bank earnings and awaited a report on consumer confidence.

Global Stocks:

Nikkei  14,506.25 +33.67 +0.23%

Hang Seng 21,277.28 -160.21 -0.75%

Shanghai Composite 2,039.49 -33.50 -1.62%

FTSE  6,564.39 +20.98 +0.32%

CAC  3,872.53 +3.55 +0.09%

DAX 8,223.85 +65.05 +0.80%

Crude oil $105.49 -0.55%

Gold $1273.60 -0.49%

Upgrades:

Downgrades:

Pfizer (PFE) downgraded to Hold from Buy at Jefferies

Other:

European stocks increased for a fifth day, their longest stretch of gains in 11 weeks, bolstered by merger and acquisition activity. U.S. stock index futures and Asian shares were little changed.

The benchmark Stoxx 600 rose 0.3 percent to 297.48 at 10:42 a.m. in London, extending its gain this week to 3.2 percent, as Alcoa Inc. started the U.S. earnings season with better-than-estimated results and Federal Reserve Chairman Ben S. Bernanke said the economy still needs stimulus.

European Central Bank executive board member Vitor Constancio said that the euro area’s slow economic recovery “implies that monetary policy has to stay accommodative for a longer period of time.” The U.S. Federal Reserve and the Bank of Japan indicated this week they will continue monetary stimulus.

In China, Finance Minister Lou Jiwei signaled the world’s second-biggest economy may expand less than the government’s target this year and that growth as low as 6.5 percent may be tolerable in the future.

While the government in March set a 2013 growth goal of 7.5 percent, Lou said he’s confident of achieving a 7 percent rate this year. He spoke yesterday at the U.S.-China Strategic and Economic Invensys jumped 15 percent to 504.5 pence after Schneider Electric, the world’s largest maker of low- and medium-voltage equipment, offered to pay 505 pence a share for the British company. The bid comprises 319 pence in cash and 186 pence in new Schneider shares. Invensys said it indicated to the French company that it will probably recommend the offer. Schneider fell 3.7 percent to 55.94 euros in Paris.

RWE increased 0.8 percent to 22.71 euros. The Wall Street Journal reported the German utility is in talks with the Qatar Investment Authority about selling its Dea oil-and-gas business, which has been valued at 4 billion ($5.2 billion) to 7 billion euros. The newspaper cited two people familiar with the matter.

Swedish Match AB gained 2.7 percent to 249 kronor in Stockholm. The Daily Mail reported speculation that Imperial Tobacco Group Plc may make a bid of 350 kronor ($52.51) a share for the maker of smokeless-tobacco products. The newspaper did not cite anyone.

Phoenix Group Holdings, the U.K.’s biggest manager of closed life-insurance funds, jumped 7.1 percent to 699.5 pence after saying it is in preliminary talks to combine with Swiss Re Ltd.’s Admin Re unit.

FTSE 100 6,577.48 +34.07 +0.52%

CAC 40 3,882.44 +13.46 +0.35%

DAX 8,235.67 +76.87 +0.94%

Asian stocks rose, with the regional benchmark index headed for its biggest weekly advance since April, amid optimism central bank stimulus and improving economic growth in the U.S. will buoy equities.

Nikkei 225 14,506.25 +33.67 +0.23%

Hang Seng 21,298.3 -139.19 -0.65%

S&P/ASX 200 4,973.89 +8.19 +0.16%

Shanghai Composite 2,039.49 -33.50 -1.62%

Miner BHP Billiton Ltd. gained 1.4 percent, tracking a surge overnight in metals prices.

Fast Retailing Co. sank 5.8 percent in Tokyo after Asia’s biggest clothing retailer reported earnings declined.

Newcrest Mining Ltd., Australia’s No. 1 gold miner, jumped 8.9 percent as the price of the precious metal headed for its steepest weekly surge in 21 months.

Nikkei 225 14,472.58 +55.98 +0.39%

Hang Seng 21,423.5 +518.94 +2.48%

S&P/ASX 200 4,965.7 +64.34 +1.31%

Shanghai Composite 2,072.99 +64.86 +3.23%

FTSE 100 6,543.41 +38.45 +0.59%

CAC 40 3,868.98 +28.45 +0.74%

DAX 8,158.8 +92.32 +1.14%

DJIA 15,461.80 170.10 1.11%

S&P 500 1,676.13 23.51 1.42%

NASDAQ 3,578.30 57.55 1.63%