Client support: Phone: (+357) 22314160

FX & CFD trading involves significant risk


Show news:

22.02.2012 08:21

Stocks: Tuesday’s review


Asian stocks fell, with the regional benchmark index retreating from a six-month high, as oil prices at a nine-month high threatened to curb spending and accelerate inflation, tempering optimism after Euro-area finance ministers agreed a bailout package for Greece.

Nikkei 225 9,463.02 -22.07 -0.23%

Hang Seng 21,478.72 +53.93 +0.25%

S&P/ASX 200 4,291.2 +35.10 +0.82%

Shanghai Composite 2,381.43 +17.83 +0.75%

Panasonic Corp., a Japanese electronics company, dropped 1.9 percent to 710 yen in Tokyo after saying it plans to re- enter the European mobile-device market with a smartphone in April.

Mazda Motor Corp., Japan’s least profitable major automaker, slumped 9.9 percent to 145 yen on a report it plans to raise capital.

DeNA Co., a social-networking service provider, rallied 8.2 percent to 2,576 yen. DeNA and South Korea’s web-portal operator Daum Communications Corp. said they have started providing “Daum Mobage,” a South Korean version of DeNA’s social gaming platform, targeting 10 million users within a year.

OneSteel Ltd. surged the most in almost three years in Sydney as Australia’s second-biggest steelmaker said it’s switching focus to iron ore away from its loss-making steel unit. The shares rose 12 percent to 82 Australian cents, the biggest jump since April 2009.

European stocks fell from a six- month high amid speculation a Greek bailout deal won’t be sufficient to solve the nation’s debt crisis.

European finance ministers approved a 130 billion-euro ($173 billion) bailout package for Greece early today by tapping into European Central Bank profits and convincing investors to provide more debt relief to the Mediterranean country. The deal includes a 53.5 percent writedown for investors in the nation’s debt, according to Luxembourg’s Jean-Claude Juncker, who chaired the talks. Finance ministers haggled into the night in Brussels over the terms of new loans and a possible contribution by central banks.

The odds that Greece will remain encumbered by debt were illustrated by an analysis by European and International Monetary Fund officials that highlighted what could go wrong with a country unable to grow out of its fiscal woes by devaluing its currency. In a worst-case scenario Greece’s debt might balloon to 160 percent of gross domestic product in 2020, it concluded.

Unless 90 percent of investors sign up to the bond swap, Greece may need to use force to secure the debt relief, entering legal difficulties. Finland and Germany are among the nations whose lawmakers must back the new loans and the International Monetary Fund must also decide how much it is willing to contribute to the package.

National benchmark indexes dropped in all of the western European markets, led by Greece’s ASE, which sank 3.5 percent. France’s CAC 40 fell 0.2 percent and Germany’s DAX slid 0.6 percent. The U.K.’s FTSE 100 Index declined 0.3 percent.

National Bank of Greece led declines in financial shares, falling 9.5 percent to 2.68 euros, after three days of gains. Intesa Sanpaolo SpA dropped 2.4 percent to 1.53 euros in Milan. Deutsche Bank AG, Germany’s largest lender, fell 2.1 percent to 33.85 euros. Julius Baer Group Ltd. declined 2.5 percent to 36.66 Swiss francs.

TNT Express NV fell 2.9 percent to 9.89 euros after the express-delivery service in takeover talks with United Parcel Service Inc. reported a fourth-quarter loss as reorganization costs and losses in emerging markets mounted.

Tullow Oil Plc dropped 3.6 percent to 1,543 pence, the largest decline in a month, after announcing results for an exploration well in Sierra Leone.

U.S. stocks erased gains, after the Standard & Poor’s 500 Index failed to hold above its highest close since 2008, as approval of Greece’s bailout was offset by economic concern with crude oil jumping to a nine-month high.

European finance ministers approved 130 billion euros ($173 billion) in aid for Greece by tapping into European Central Bank profits and coaxing investors into providing more debt relief to shield the region from a default. The S&P 500 briefly reversed gains as oil jumped after Iran said it stopped selling crude to France and Britain.

Dow 12,965.69 +15.82 +0.12%, Nasdaq 2,948.57 -3.21 -0.11%, S&P 500 1,362.21 +0.98 +0.07%

Wal-Mart (WMT) lost 3.9 percent to $60.07. Chief Executive Officer Mike Duke is working to contain Wal-Mart’s costs and last quarter started pulling the company’s greeters from store lobbies to help with customer-service tasks. The retailer is seeking to keep prices low as its low-income shoppers suffer from persistent unemployment.

Netflix Inc. slumped 3.7 percent to $117.40. Comcast Corp., the largest U.S. cable company, will debut a service streaming television shows and movies to current customers that competes with Internet and video rivals.

Weatherford International Ltd. tumbled 14 percent to $15.36. The oilfield-services and equipment provider said it hasn’t repaired material weakness in internal controls related to taxes and may restate results for 2008 through 2011.

Chevron (CVX) gained 1.6 percent to $108.41. Exxon Mobil Corp. (XOM) added 1.1 percent to $86.57.

Macy’s increased 1.2 percent to $36.69. Its profitability shrank less than analysts projected as it was able to sell women’s handbags and accessories with its planned promotions rather than by slashing prices during the holiday season. Planned promotions can be profitable while last-minute efforts to clear excess inventories erode margins.

Market Focus

  • US nonfarm payrolls rise more than expected in July
  • Canada’s merchandise trade deficit widens in June
  • Canada unemployment rate falls to lowest level since October 2008
  • Canada Ivey PMI falls less than expected in July
August 2017
  • 2017
  • 2016
  • 2015
  • 2014
  • 2013
  • 2012
  • 2011
  • 2010
  • 2009
  • 2008
  • 2007
  • 2006
  • 2005
  • 2004
  • 2003
  • 2002


All posted material is a marketing communication solely for informational purposes and reliance on this may lead to loss. Past performance is not a reliable indicator of future results. Please read our full disclaimer.

To maximize our visitors browsing experience TeleTrade uses cookies in our web services. By continuing to browse this site you agree to our use of cookies. If you disagree, you may change your browser settings at any time. Read more

  • © 2011-2017 TeleTrade-DJ International Consulting Ltd

    TeleTrade-DJ International Consulting Ltd is registered as a Cyprus Investment Firm (CIF) under registration number HE272810 and licensed by the Cyprus Securities and Exchange Commission (CySEC) under license number 158/11.

    The company operates in accordance with Markets in Financial Instruments Directive (MiFID).

  • The information on this website is for informational purposes only. All the services and information provided have been obtained from sources deemed to be reliable. TeleTrade-DJ International Consulting Ltd ("TeleTrade") and/or any third-party information providers provide the services and information without warranty of any kind. By using this information and services you agree that under no circumstances shall TeleTrade have any liability to any person or entity for any loss or damage in whole or part caused by reliance on such information and services.

  • TeleTrade cooperates with SafeCharge Limited, which is an electronic money institution authorized and regulated by the Central Bank of Cyprus and is a principal member of MasterCard Europe and Visa Europe. We also cooperate with Moneybookers and Neteller, which offer electronic e-wallet services authorized and regulated by the Financial Conduct Authority.

    Please read our full Terms of Use.

  • To maximize our visitors browsing experience TeleTrade uses cookies in our web services. By continuing to browse this site you agree to our use of cookies. If you disagree, you may change your browser settings at any time. Read more

    TeleTrade-DJ International Consulting Ltd currently does not provide its services to residents or nationals of the USA, and also doesn't provide retail Forex and CFD accounts to residents or nationals of Belgium.

Connect with Us
Share on
social networks
Request a callback
Top Page