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10.09.2012 06:59

Stocks: Friday’s review



Asian stocks rose, with the regional benchmark index headed for its biggest gain since December as Europe’s plan to reduce borrowing costs, better-than-estimated U.S. jobs data and Chinese stimulus measures boosted the earnings outlook for Asian exporters.

Nikkei 225 8,871.65 +191.08 +2.20%

S&P/ASX 200 4,325.8 +12.91 +0.30%

Shanghai Composite 2,127.76 +75.84 +3.70%

Hutchison Whampoa Ltd., a retailer and port operator that gets 55 percent of its sales in Europe, rose 3.1 percent in Hong Kong.

China Resources Cement Holdings Ltd. jumped 12 percent in Hong Kong after the mainland government approved road projects.

Toyota Motor Corp., a carmaker that depends on North America for 25 percent of its sales, added 3.4 percent.

European stocks climbed, completing their biggest weekly rally in three months, on speculation that the Federal Reserve will opt for further stimulus after a report showed U.S. employers hired fewer workers than estimated.

The release also showed that the nation’s unemployment rate unexpectedly slipped to 8.1 percent. Economists had predicted a jobless rate of 8.3 percent, according to the median projection in a survey. Unemployment has stayed above 8 percent for the last 43 months.

National benchmark indexes climbed in every western- European (SXXP) market except Denmark today. The U.K.’s FTSE 100 added 0.3 percent, while Germany’s DAX advanced 0.7 percent. France’s CAC 40 rose 0.3 percent.

A gauge of banking shares advanced 2.1 percent to its highest level in five months. Deutsche Bank and Barclays surged 5.3 percent to 31.36 euros and 6.9 percent to 206.4 pence, respectively.

Santander SA, Spain’s biggest lender, climbed 1.7 percent to 6.08 euros, while BNP Paribas SA, France’s largest bank, added 1.7 percent to 37.78 euros. Credit Agricole SA and Societe Generale SA jumped 6.5 percent to 5.34 euros and 6.8 percent to 24.49 euros, respectively.

Xstrata gained 3.6 percent to 1,014 pence, while Glencore slumped 3.6 percent to 378.1 pence. The commodities trader, which owns 34 percent of Xstrata, offered 3.05 of its shares for every one that its target’s investors hold, according to a statement from Zug, Switzerland-based Xstrata.

U.S. stocks had no definite trend trading, consolidating after rising Thursday.

Support indices have expectations of market participants to the fact that the announcement yesterday by President ECB plan purchases of government bonds of European countries with debt problems, allow time for structural reforms to overcome the debt crisis. The advertised plan reduced the fears of worsening debt crisis in the region.

Constrain the growth index data on the U.S. labor market, which can be described as disappointing. Statistics recorded a decline in the unemployment rate to the level of 8.1% in August, compared with an expected value, and in July at 8.3%, but the number of new jobs in non-agricultural sectors of the U.S. economy was below the forecast (96 th vs. 121 thousand), and the average workweek fell to 34.4 hours. Average hourly earnings for August results did not change.

Despite the weaker data on the report payrolls, the market participants are not certain that before the U.S. presidential elections, the Fed will report on new measures to improve the employment situation.

In the composition of the index DOW company split between positive and otritsatenuyu territory. More than others in the share price rose Bank of America (BAC, +5.39%). More than others in the share price fell Kraft Foods (KFT, -5.48%).

Showed a mixed trend and key sectors. Sector has grown more than other basic materials (+2.1%). Below is the rest of the sector utilities (-0.4%).

10.09.2012 07:22

Forex: Friday’s review

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
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