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21.11.2012 08:00

Stocks: Tuesday’s review



Asian stocks rose, with the regional benchmark index poised to advance for a third day, as better- than-forecast U.S. home sales boosted optimism in the world’s largest economy.

Nikkei 225 9,142.64 -10.56 -0.12%

S&P/ASX 200 4,385.68 +24.23 +0.56%

Shanghai Composite 2,008.92 -8.06 -0.40%

Techtronic Industries Co., the maker of Ryobi power tools that counts North America as its biggest market, jumped 4.7 percent in Hong Kong.

Samsung Electronics Co., the world’s No. 1 manufacturer of smartphones, gained 2.4 percent in Seoul after a U.S. trade agency agreed to review its patent case versus Apple Inc.

Osaka Securities Exchange Co. added 1.9 percent as shareholders approved its $1.6 billion merger with Tokyo Stock Exchange Group Inc.

European stocks rose for a second day amid speculation the region’s finance ministers will agree on a Greek financing deal and optimism Israelis and Palestinians will sign up to a cease-fire in Gaza.

EasyJet Plc (EZJ) jumped to the highest level in five years, leading travel shares higher, after the budget airline doubled its dividend. Xstrata Plc (XTA) and Glencore International Plc (GLEN) advanced as investors approved their $31 billion merger. Credit Suisse Group AG (CSGN) paced a decline in financial shares, dropping 1.7 percent on plans to reorganize its investment bank.

The Stoxx Europe 600 Index (SXXP) added 0.3 percent to 269.49 at the close of trading, extending yesterday’s 2.2 percent jump to reach a one-week high.

U.S. housing starts unexpectedly climbed 3.6 percent to a four-year high in October. Builders broke ground on 894,000 homes at an annual rate after a 863,000 pace in September, Commerce Department figures showed. The median estimate economists surveyed called for 840,000 starts.

National benchmark indexes rose in 14 of the 18 western European markets.

FTSE 100 5,748.1 +10.44 +0.18% CAC 40 3,462.06 +22.48 +0.65% DAX 7,172.99 +49.15 +0.69%

Deutsche Bank AG (DBK) slid 1.4 percent to 33.18 euros and Intesa Sanpaolo SpA (ISP) declined 1.1 percent to 1.22 euros.

Fiat SpA (F) dropped 5 percent to 3.31 euros. UBS AG lowered its recommendation on the Italian automaker to neutral from buy, saying it may need to raise between 1.6 billion euros and 2.9 billion euros to finance the purchase of the remaining shares in Chrysler Group LLC.

Exor SpA (EXO), which is Fiat’s biggest shareholder, slipped 3.8 percent to 18.37 euros after UBS also lowered its recommendation on the shares to neutral from buy.

Royal Imtech NV (IM), the Dutch provider of infrastructure for stadiums in this year’s European soccer championship and London Olympics, tumbled 11 percent to 15.68 euros, the biggest drop in more than four years. ABN Amro Bank NV downgraded the shares to sell from buy, saying the company could breach a banking covenant this year.

Accor SA (AC) rallied 3.4 percent to 24.71 euros as Exane BNP Paribas said the hotelier’s profit margins could reach 16 percent to 18 percent by 2016, from 9.5 percent at present.

Swatch Group AG (UHR) increased 1.5 percent to 433.10 francs as the Federation of the Swiss Watch Industry said watch exports rose 13 percent last month from a year earlier.

Started the session with losses indexes retreated from session lows and ended the session with a slight advantage. Shows only a small negative index Dow.
Little support during trading indices had a message news agency Reuters that today at 19:00 GMT will be announced a truce between Israel and Hamas, which controls the Gaza Strip. It also reported that a ceasefire will come into force in 22:00 GMT.
Meanwhile, the growth indices constrain the uncertainty associated with the decision of the Eurogroup on the allocation of the next tranche of financial aid to Greece. Representatives of the European authorities give different assessment of the outcome of the current meeting. The head of the Eurogroup Jean-Claude Juncker said a high probability of making a decision on the matter, at the same time, German Finance Minister Wolfgang Schäuble said that the agreement will be reached on Greece, but he was not sure that it is reached it is.
Note also that the indices returned to negative territory in the background speech Fed Chairman Ben Bernanke, who said that "monetary policy can not solve all problems." But he also said that "the pace of economic recovery has been slower than expected." But after this statement decrease in the indices slowed and began to recover with minimum values ​​session as increased chances for additional stimulation of the U.S. economy.
Hewlett-Packard shares fell more than 12% due to the fact the company stated that the forecasted earnings for the first fiscal quarter will be below analysts' estimates due to the ongoing decline in sales of personal computers.
Best Buy Shares fell 12.91%, as sales in the third quarter fell by 4.3%, while the forecast was at 3.3% decline. Note also that the volume of sales was down for 9 of the last 10 quarters.
Intel shares were down 3.85% to $ 19.47. As it became known, UBS downgraded the company's shares to a "neutral" from "buy" on a background of uncertainty about the care of the CEO.
DOW index components exhibit predominantly negative dynamics. Fell more than the rest in the stock price Hewlett-Packard (HPQ, -12.07%). Shares rose more than other Bank of America Corporation (BAC, +1.21%).
Mixed trends also show the main sectors of the index S & P. Maximum growth demonstrates the health sector (+0.4%), the maximum loss is the technology sector (-0.6%).
At the close:
Dow 12,788.51 -7.45 -0.06%
Nasdaq 2,916.68 +0.61 +0.02%
S & P 500 1,387.82 +0.93 +0.07%

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