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26.11.2012 08:02

Stocks: Friday’s review



Asian stocks rose, led by gains in rare-earth companies, and as Taiwan shares surged after the island’s finance minister said government-controlled funds should buy equities at lows. Japanese markets are closed today.

Nikkei 225 Closed

Hang Seng 21,857.91 +114.71 +0.53%

S&P/ASX 200 4,413 -0.07 0.00%

Shanghai Composite 2,034.04 +18.43 +0.91%

Lynas Corp., builder of the largest rare-earth refinery in Malaysia, climbed 5.5 percent in Sydney as it prepares to start production in the Southeast Asian country.

China Rare Earth Holdings Ltd. rose 4.1 percent in Hong Kong after a report the government plans to provide subsidies to the industry.

The Taiex Index jumped 2.7 percent in Taipei, leading gains among the region’s benchmark indexes.

European stocks climbed, with the benchmark index completing its biggest weekly gain in almost a year, as German business confidence rose and investors watched Black Friday sales to gauge prospects for U.S. holiday shopping.

Outotec Oyj surged 6.3 percent after predicting an increase in its operating-profit margin in 2013. European Aeronautic, Defence & Space Co. (EAD) declined 1.4 percent after a report that Germany will buy shares in the world’s largest maker of civil aircraft from Франце

The Stoxx Europe 600 Index (SXXP) added 0.6 percent to 273.33 in London. The gauge jumped 4 percent this week, the most since Dec. 2, as U.S. and Chinese data added to signs the global economy is on the mend and optimism grew that American lawmakers will reach a budget compromise.

The Munich-based Ifo institute said its business climate index for Germany, based on a survey of 7,000 executives, climbed to 101.4 in November from 100 in October. Economists predicted a drop to 99.5. French business confidence increased from the lowest in more than three years this month, a separate report showed.

National benchmark indexes climbed in 16 of the 18 western European markets.

FTSE 100 5,819.14 +28.11 +0.49% CAC 40 3,528 +30.58 +0.87% DAX 7,309.13 +64.14 +0.89%

Euro-area finance ministers will hold an emergency meeting in Brussels on Nov. 26 to discuss unlocking the next installment of aid to Greece. Their meeting this week failed to produce a decision as creditors led by Germany refused to bring fresh money or offer debt relief.

Iliad SA (ILD), the mobile operator that drove prices down in France with a 2-euros-a-month offering, climbed 4.1 percent to 133.65 euros, the highest since it sold shares to the public in 2004. Morgan Stanley upgraded the stock to overweight, a recommendation similar to buy, from equal weight.

Valeo SA (FR), France’s second-biggest car-parts maker, gained 3.4 percent to 35.45 euros. The stock was raised to buy from neutral at Goldman Sachs Group Inc.

Arkema SA (AKE) rose 2.4 percent to 76.67 euros after Chief Executive Officer Thierry Le Henaff said he expects demand in China to grow at a good pace after the Chinese new year.

Amadeus IT Holding SA (AMS) lost 2.6 percent to 18.00 euros, falling for the eighth day. HSBC Holdings Plc owns more than 400 million euros ($515 million) of Amadeus IT Holding shares after failing to find buyers for a stake in the travel reservations company. HSBC, which attempted to place a block of Amadeus shares last week, holds 5.4 percent of the company, the bank said in a filing to the Spanish financial regulator this week.

Fraport AG, owner of the Frankfurt airport, retreated 2.3 percent to 42.60 euros. The stock was cut to underweight, the equivalent of sell, from neutral at HSBC Holdings Plc.

The major U.S. stock indices ended the session back in positive territory, but this growth was speculative. For the week DOW index rose 3,73%, Nasdaq rose 4,58%, S & P500 gained 4.12%.
The reason for today's purchases, which are characterized by a decrease in the volume of trading, are some of the positive data from Europe and Asia.
Thus, in Europe today, was published the business climate index of Ifo, who in November was higher than forecast. In Asia, investors pleased that the data released yesterday (U.S. stock markets were closed yesterday), the index of business activity in the manufacturing sector of China from HSBC, which for the first time in the last 12 months rose above 50 points. A reading above this mark is a sign of growth of activity in the sector.
Support indices today also provided speculation on steps that can be taken on Greece international lenders to enable the country to cope with the current debt problems.
In general, the fundamental reasons for the significant growth is still there, and the next week if the situation does not change, the markets again with high probability may be under pressure.
Remember that U.S. stock markets are closed today at 18:00 GMT. You must also keep in mind that, as a rule, the volume of trading in the session after Thanksgiving is one of the lowest in the year.
All components of the index DOW, except shares Johnson & Johnson (JNJ, -0.04%), rose in price. Shares rose more than other Hewlett-Packard (HPQ, +4.19%), which today continues to be adjusted after a 12% drop after the publication of disappointing quarterly report.
All major sectors of the index S & P strengthened. Maximum growth demonstrates the technology sector (+1.6%). Less than all the added utilities sector (+0.3%)
At the close:
Dow 13,009.68 +172.79 +1.35%
Nasdaq 2,966.85 +40.30 +1.38%
S & P 500 1,409.15 +18.12 +1.30%

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