European stocks fell for a second day as Japanese exports tumbled and investors speculated that victory in regional elections for Spain’s Prime Minister Mariano Rajoy reduces pressure for him to seek a bailout.
The Stoxx Europe 600 Index (SXXP) slipped 0.4 percent to 272.93 in London, having earlier risen as much as 0.3 percent. The measure lost 0.8 percent on Oct. 19 as European Union leaders failed to discuss additional assistance for Spain at a summit in Brussels. The gauge has still rallied 17 percent from the June 4 low as the European Central Bank unveiled a bond-purchase program to support the economy.
Japan’s exports slid 10.3 percent in September from a year earlier, leaving a trade deficit of 558.6 billion yen ($7 billion), the Finance Ministry said in Tokyo today. The median forecast in a Bloomberg survey of analysts was for a 9.9 percent export decline. The drop was the most since May 2011, two months after a magnitude-9 quake struck Japan’s northeast, triggering a tsunami and a nuclear disaster that led to the shuttering of most of the nation’s reactors.
National benchmark indexes fell in nine of the 18 western European markets.
FTSE 100 5,882.91 -13.24 -0.22% CAC 40 3,483.25 -21.31 -0.61% DAX 7,328.05 -52.59 -0.71%
In Spain, Rajoy’s party extended its majority in the stronghold region of Galicia, winning 41 of the 75 seats in the regional assembly. Spanish bonds fell, sending the yield on 10- year debt up 9 basis points to 5.46 percent.
Greek Prime Minister Antonis Samaras will meet with the heads of the parties supporting his coalition government tomorrow to discuss 13.5 billion euros ($17.6 billion) of budget measures for 2013 and 2014 to persuade creditors to release further funds for the debt-stricken nation.
Veolia, the world’s largest water company, fell 4.5 percent to 8.13 euros and Suez Environnement dropped 1.6 percent to 8.30 euros after denying merger talks.
Nexans tumbled 6.7 percent to 33.96 euros, dropping the most in almost six months. The world’s second-biggest maker of cables reduced its full-year revenue forecast, predicting “stable” sales compared with a previous prediction for “slight organic growth.”
Valeo SA (FR), France’s second-largest car-parts maker, slid 3.7 percent to 34.62 euros as the stock was reduced to hold from buy at Deutsche Bank.
Aggreko Plc (AGK), the world’s biggest provider of mobile power supplies, slipped 2.8 percent to 2,077 pence. The company was cut to underweight, the equivalent of sell, from neutral at HSBC Holdings Plc.
Philips advanced 5.6 percent to 20.08 euros, the biggest gain in almost three months. The company said third-quarter earnings before interest, taxes, amortization and one-time items rose 43 percent to 562 million euros. Analysts in a Bloomberg survey had predicted 520 million euros. Sales of 6.13 billion euros beat a 5.95 billion-euro prediction.
Scania rose 3.2 percent to 124.10 kronor. The Swedish truckmaker controlled by Volkswagen AG said orders for its trucks and buses fell 10 percent in the third quarter, compared with a 14 percent drop in the previous period. Net income of 1.5 billion kronor ($230 million) was in line with analysts’ estimates.
OC Oerlikon AG rallied 4.3 percent to 9.48 Swiss francs. The Swiss maker of textile machinery and car gears said Chinese regulators approved the sale of its solar division to Tokyo Electron Ltd.
Salzgitter AG (SZG), Germany’s second-biggest steelmaker, gained 3.7 percent to 34.76 euros as Credit Suisse Group AG raised the stock to outperform, the equivalent of buy, from neutral.
U.S. stock futures advanced as investors watched corporate results.
Caterpillar Inc. (CAT), the biggest maker of construction and mining equipment, fell after forecasting sales growth that is the slowest in four years.
Global Stocks:
Nikkei 9,010.71 +8.03 +0.09%
Hang Seng 21,697.55 +145.79 +0.68%
Shanghai Composite 2,132.76 +4.46 +0.21%
FTSE 5,890.44 -5.71 -0.10%
CAC 3,503.05 -1.51 -0.04%
DAX 7,364.16 -16.48 -0.22%
Crude oil $90.16 +0,12%
Gold $1725.70 +0.10%
European stocks were little changed as Spanish Prime Minister Mariano Rajoy said local elections vindicated his austerity program while Japan’s exports tumbled.
In Spain, Rajoy extended his majority in the stronghold region of Galicia as voters offered some respite to his 10- month-old government and removed one obstacle to a European bailout. His party won 41 of the 75 seats in the regional assembly, allowing it to extend its majority in the northwestern region.
Japan’s exports slid 10.3 percent in September from a year earlier, leaving a trade deficit of 558.6 billion yen ($7 billion), the Finance Ministry said in Tokyo today. The median forecast in a Bloomberg survey of analysts was for a 9.9 percent export decline. The drop was the most since May 2011, two months after a magnitude-9 quake struck Japan’s northeast, triggering a tsunami and a nuclear disaster that led to the shuttering of most of the nation’s reactors.
Royal Philips Electronics NV climbed 4.5 percent after the world’s largest lighting company reported third-quarter profit that beat analysts’ estimates.
Veolia Environnement SA retreated 4.1 percent as Suez Environnement denied it’s working on a merger with its bigger rival.
FTSE 100 5,902.4 +6.25 +0.11%
CAC 40 3,510.64 +6.08 +0.17%
DAX 7,377.76 -2.88 -0.04%
Asian stocks fell, with the regional benchmark index retreating after its biggest weekly advance in a month, as Japan’s exports dropped at the fastest pace since last year’s post-earthquake slump amid a global economic slowdown and a territorial dispute with China.
Nikkei 225 9,010.71 +8.03 +0.09%
S&P/ASX 200 4,541 -30.07 -0.66%
Shanghai Composite 2,134.24 +5.94 +0.28%
Komatsu Ltd., the Japanese maker of construction machinery that gets 14 percent of sales from China, slid 2.4 percent in Tokyo.
Treasury Wine Estates Ltd. slumped 7.3 percent in Sydney after Australia’s biggest wine maker forecasting a decline in first-half earnings.
GrainCorp Ltd. jumped 39 percent after Archer-Daniels-Midland Co. offered to buy the Australian grain handler.
Asian stocks fell, with the regional benchmark index headed for the first drop in four days, as worse-than-expected earnings results from Google Inc. and Microsoft Corp. weighed on technology shares.
Nikkei 225 9,002.68 +19.82 +0.22%
S&P/ASX 200 4,571.1 +11.67 +0.26%
Shanghai Composite 2,127.8 -3.89 -0.18%
Internet portal Yahoo Japan Corp. declined 2.7 percent in Tokyo.
Fanuc Corp., a Japanese maker of factory robots, increased 3.2 percent after manufacturing in the Philadelphia region expanded more than estimated.
Drugmaker Kyowa Hakko Kirin Co. fell 6.2 percent in Tokyo after halting a trial for a drug to treat kidney disease.
European stocks fell, snapping four days of gains, after yesterday rising to their highest valuation since 2010, and as European Union leaders failed to discuss further aid for Spain.
Leaders committed to their goal of establishing a euro-area bank supervisor by the end of the year. The EU will seek to agree on a framework that makes the ECB the main supervisor by Jan. 1, according to conclusions released early today after leaders met. The new system, intended to break the link between banks and governments at the root of the region’s financial crisis, will phase in over the next year and could cover all 6,000 euro-area banks by Jan. 1, 2014, a year later than initially targeted.
Still, the move doesn’t settle the question of when the European Stability Mechanism will be able to recapitalize banks directly. The plan calls for the supervisor to take charge of big banks and bailed-out institutions first, while also saying direct assistance requires “effective” supervision in place.
German Chancellor Angela Merkel said after the summit that it’s an open question whether European policy makers can meet the deadline they’d set hours earlier to establish a euro-area bank supervisor.
FTSE 100 5,896.15 -20.90 -0.35%, CAC 40 3,504.56 -30.62 -0.87%, DAX 7,380.64 -56.59 -0.76%
STMicroelectronics NV, Europe’s largest semiconductor maker, fell 3.5 percent to 4.78 euros as Banco Santander SA cut its price estimated on the shares to 5.20 euros from 6.75 euros.
Valeo SA advanced 3 percent to 35.95 euros. France’s second-largest car-parts maker said third-quarter revenue rose 6.8 percent to 2.84 billion euros from 2.66 billion euros a year earlier as demand from emerging markets offset a declining car market in Europe.
Carrefour SA gained 5.9 percent to 18.36 euros. Cencosud SA, Chile’s biggest retailer by sales, agreed to buy Carrefour’s Colombian unit for 2 billion euros including debt.
U.S. stocks fell, giving benchmark indexes their biggest declines since June, as Microsoft Corp. (MSFT) and General Electric Co. (GE) results missed estimates and euro-area leaders failed to discuss aid for Spain at a summit.
U.S. stocks snapped a three-day rally yesterday after Google Inc. (GOOG)’s third-quarter earnings missed analysts’ estimates.
A European Union summit failed to discuss further financial assistance for Spain, according to French President Francois Hollande. Germany and France agreed to enforce common banking regulation for the euro area’s 6,000 lenders by the end of next year.
In the U.S., sales of previously owned homes held near a two-year high in September, restrained by a lack of supply that is pushing prices higher. Purchases of existing houses, tabulated when a contract closes, decreased 1.7 percent to a 4.75 million annual rate, matching the median forecast of economists, figures from the National Association of Realtors showed today in Washington.
All 10 industry groups in the S&P 500 declined today with indexes tracking technology, raw-materials producers and industrial stocks losing more than 1.7 percent.
McDonald’s had its largest drop since 2009, falling 4.5 percent to $88.72. The world’s largest restaurant chain by sales reported third-quarter profit fell 3.5 percent. Sales at U.S. stores open at least 13 months rose 1.2 percent in the quarter, marking the slowest growth in 11 quarters. Analysts projected an increase of 1.7 percent, according to 21 estimates compiled by Consensus Metrix.
At the close:
Dow 13,549 -8 -0.06%
Nasdaq 3,073 -31 -1.00%
S&P 500 1,457 -4 -0.27%© 2000-2026. Bản quyền Teletrade.
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