Client support: Phone: (+357) 22314160

FX & CFD trading involves significant risk


Show news:

02.08.2012 06:41

Stocks: Wednesday’s review


China’s manufacturing expanded at the slowest pace in eight months and South Korea’s exports fell. Japanese shares led declines on disappointing earnings reports.

Nikkei 225 8,641.85 -53.21 -0.61%

S&P/ASX 200 4,262.8 -6.35 -0.15%

Shanghai Composite 2,121.89 +18.25 +0.87%

Fanuc Corp. a maker of robotic controls for Chinese factories, fell 2.5 percent in Tokyo.

Samsung Electronics Co., South Korea’s biggest exporter of consumer electronics, slid 0.7 percent. Sumitomo Heavy Industries Ltd. and Komatsu Ltd. led industrial shares lower after cutting earnings forecasts.

Intrepid Mines Ltd., an Australian company exploring for gold in Indonesia, surged 32 percent after saying a new shareholder would help safeguard its project in the Southeast Asian country.

European stocks rose for the fourth time in five days as speculation central banks will take further steps to support the economic recovery outweighed the biggest contraction in U.K. manufacturing for three years.

A gauge of U.K. factory output, based on a survey by Markit Economics and the Chartered Institute of Purchasing and Supply, fell to 45.4 last month from a revised 48.4 in June, Markit said today. That’s the lowest in 38 months. A reading below 50 indicates contraction.

The Purchasing Managers’ Index in China unexpectedly fell to 50.1 in July, the weakest in eight months, from 50.2 in June, a government report showed today. Fifty marks the dividing line between expansion and contraction.

The Federal Reserve will conclude a two-day policy meeting after the close of European trading today. The U.S. central bank has carried out two rounds of so-called quantitative easing since Lehman Brothers Holdings Inc. collapsed in 2008, buying $2.3 trillion in bonds to boost the economy.

Bearish options on European stocks have fallen to the cheapest levels compared with bullish ones in 19 months as traders bet that Draghi will deliver on his promise to save the euro. The ECB will hold its next policy meeting tomorrow.

Benchmark indexes rose in seven of the 17 western European markets open today. The U.K.’s FTSE 100 (UKX) gained 1.4 percent while Germany’s DAX slipped 0.3 percent. Markets in Switzerland were closed for a holiday.

Standard Chartered Plc added 3.6 percent to 1,517.5 pence, the largest advance since June 6, after the U.K. bank that gets most of its revenue from Asia posted an 11 percent increase in first-half profit.

Bayerische Motoren Werke AG slid 2.9 percent to 58.99 euros. The world’s biggest maker of luxury cars reported a 19 percent drop in second-quarter profit amid increased spending on new models and “intense” pricing competition.

U.S. stocks declined, reversing earlier gains, as the Federal Reserve’s pledge to provide additional support for the economy disappointed investors anticipating a more definitive sign of further monetary easing.
Equities fell a third day as Fed Chairman Ben S. Bernanke held off on stepping up record stimulus even as economic growth slowed. Before their next meeting starts Sept. 12, Bernanke and his colleagues will assess reports on unemployment in July and August, and the European Central Bank may take steps to ease Europe’s crisis at a meeting tomorrow.
U.S. stocks rose earlier as data showing manufacturing weakness from China and Europe boosted speculation policy makers will act to support the economy. Manufacturing in the U.S. unexpectedly contracted for a second month in July, indicating a mainstay of the economy was struggling to improve.
Avon Products Inc. fell 1.2 percent to $15.30. The door-to- door cosmetics seller that rebuffed a takeover offer from Coty Inc. this year reported a 70 percent decline in second-quarter profit amid a sales slump in Europe and China.

Market Focus

  • The eurozone started the third quarter on a solid footing, according to PMI survey data
  • Earnings Season in U.S.: Major Reports of the Week
  • German private sector output growth slowed for the second month running in July
  • ECB's Mersch says as conditions normalise, it is unlikely that uncoventional policies will remain necessary
July 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