(+357) 22314160


Show news:

28.06.2012 07:40

Stocks: Wednesday’s review

Asian stocks rose, snapping a four- day decline, as speculation the U.S. housing market is bottoming and China may step up economic stimulus tempered concern that the 19th summit on Europe’s debt crisis in three years won’t result in progress toward a resolution.

Nikkei 225 8,730.49 +66.50 +0.77%

S&P/ASX 200 4,043.2 +29.90 +0.74%

Shanghai Composite 2,214.84 -7.22 -0.33%

China Overseas Land & Investment Ltd., the biggest Chinese developer by market value listed in Hong Kong, climbed 3.8 percent.

Techtronic Industries Ltd., which makes 72 percent of its sales in North America, gained 2.6 percent in Hong Kong.

Oracle Corp. Japan climbed the most in three months in Tokyo as its profit forecast topped estimates.

European stocks rose the most in a week after reports on U.S durable-goods orders and pending home sales beat estimates and speculation mounted that China will introduce additional economic stimulus.

Stocks climbed after a U.S report showed orders for durable goods climbed more than forecast in May, easing concern that U.S. manufacturing is faltering. Separate data showed more Americans than forecast signed contracts to buy previously owned homes last month.

In China, a commentary in the China Securities Journal said the country may introduce “more proactive” policies to ensure stable growth in the world’s second-largest economy. The policies may include stabilizing foreign trade, expanding infrastructure investment and reducing tax.

German Chancellor Angela Merkel faces demands from other euro-area nations for more drastic measures to fight the region’s sovereign-debt crisis, as EU leaders prepare for the two-day summit. One such proposal calls for collective debt sales through euro bonds.

National benchmark indexes advanced in all 18 western European markets before the European Union summit beginning tomorrow in Brussels. The U.K.’s FTSE 100 climbed 1.3 percent, France’s CAC 40 rose 1.4 percent and Germany’s DAX Index gained 1.3 percent.

A gauge of European bank shares rose 2.5 percent for the largest contribution to the Stoxx 600’s advance. Lloyds gained 3.5 percent to 31.16 pence after the Financial Times reported the lender may sell 630 branches to Co-Operative Group Ltd. as early as today.

Barclays Plc added 1.9 percent to 196.05 pence. The lender has agreed to pay 290 million pounds ($452 million) in penalties to settle U.S. and U.K. investigations into whether it sought to rig the London and euro interbank offered rates. Chief Executive Officer Bob Diamond and other executives will forgo their annual bonuses this year, the bank said.

K+S AG, Europe’s biggest potash producer, jumped 6.9 percent to 34.92 euros after analysts raised their ratings on the stock. Bank of America Corp. upgraded the stock to buy from underperform, while BHF-Bank raised its recommendation to overweight from market weight.

Salzgitter AG tumbled 4.9 percent to 32.50 euros, the lowest since September 2005, after saying its steel unit may not break even this year, citing “notably negative” impact on demand for rolled steel. The company said on May 15 it saw positive 2012 pretax earnings.

U.S. stocks rose, sending the Standard & Poor’s 500 Index higher for a second day, amid better-than-estimated housing and durable goods orders data while speculation grew that China will add to economic stimulus.

Equities rallied as orders for durable goods and the number of Americans signing contracts to buy an existing home rebounded in May, easing concern the world’s largest economy is faltering. The China Securities Journal said the country may introduce “more proactive” policies to ensure stable growth in the world’s second-largest economy. European leaders prepared for a two-day summit starting tomorrow.

JPMorgan Chase & Co. (JPM) jumped 3 percent, the most in the Dow, to $36.78, while Bank of America Corp. (BAC) had the second-biggest increase, rising 2 percent to $7.77.

Monsanto, the largest seed company, added 3.9 percent to $80.89. Sales of corn seed and genetic licenses rose 35 percent as U.S. farmers planted the biggest crop in 75 years. Soybean sales gained 15 percent, driven by demand for the newest seed engineered to tolerate Monsanto’s Roundup herbicide. Chairman and Chief Executive Officer Hugh Grant also is expanding in Latin America and Eastern Europe.

Bristol-Myers Squibb Co. gained 1.7 percent to $35.09 after the drugmaker doubled the size of its share buyback program, authorizing $3 billion in additional repurchases to be made over the “next couple years.”

Facebook slid 2.6 percent to $32.23. At least 17 securities firms began coverage of the company today, bringing the average analyst share-price estimate to $37.95, data compiled by Bloomberg show. Morgan Stanley gave Facebook the equivalent of a buy rating, as did JPMorgan Chase & Co., Goldman Sachs Group Inc. and five other firms. There were eight holds and one sell, the data show.

O’Reilly Automotive Inc. tumbled 14 percent to $82.61. The retailer of auto parts, tools and accessories sank the most in more than a decade after saying sales growth was slower than expected and second-quarter profit will be on the lower end of the company’s forecast range.

28.06.2012 07:22

Tech for USD / JPY

Market Focus

January 2018
  • 2018
  • 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

Fb twitter linkedIn youtube
proficient forex broker teletrade
  • © 2011-2018 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