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22.11.2012 07:44

Stocks: Wednesday’s review



Asian stocks outside Japan fell, with a regional gauge heading for its first decline in three days, after policy makers meeting in Brussels failed to reach a decision on assisting debt-laden Greece.

Nikkei 225 9,222.52 +79.88 +0.87%

S&P/ASX 200 4,369.5 -16.18 -0.37%

Shanghai Composite 2,030.32 +21.40 +1.07%

Esprit Holdings Ltd., which gets almost 80 percent of its sales from Europe, fell 2.1 percent in Hong Kong.

Harvey Norman Holdings Ltd. slid 1.9 percent after an Australian regulator initiated legal proceedings against 11 franchisees of the nation’s largest electrical-goods retailer.

Honda Motor Co. advanced 3.2 percent, pacing gains among Japan’s carmakers as the yen weakened, boosting the earnings outlook for the nation’s exporters.

European stocks advanced for a third day, as gains by Veolia Environnement SA, SAP AG and carmakers, as well as a decline in applications for U.S. jobless benefits offset the failure of euro-region policy makers to reach a decision on assisting debt-laden Greece.

Veolia Environnement rose 1.3 percent after getting approval for the sale of its U.S. waste-management business. SAP AG climbed 2 percent. Fiat SpA climbed 1.6 percent. Johnson Matthey (JMAT) Plc slumped 5.8 percent after it reported a drop in first-half profit. Imagination Technologies Group Plc slipped 3.9 percent as it said that it will monitor mobile chip designer CEVA Inc.’s counter bid for MIPS Technologies Inc.

The Stoxx Europe 600 Index (SXXP) rose 0.2 percent to 270.11 at the close of trading.

FTSE 100 5,752.03 +3.93 +0.07% CAC 40 3,477.36 +15.30 +0.44% DAX 7,184.71 +11.72 +0.16%

Fewer Americans filed applications for unemployment benefits last week as damage to the labor market caused by superstorm Sandy began to subside.

Jobless claims decreased by 41,000 to 410,000 in the week ended Nov. 17, the Labor Department reported today in Washington.

The Thomson Reuters/University of Michigan final index of U.S. consumer sentiment for November rose to 82.7 from 82.6 at the end of last month.

Veolia Environnement (VIE) advanced 1.3 percent to 7.90 euros. The world’s largest water company said it obtained approval from the Department of Justice for the sale of its U.S. waste- management business for $1.91 billion, which will cut its debt by $1.84 billion.

SAP, the largest maker of enterprise-management software, added 2 percent to 58.82 euros, its highest price since Sept. 5, as Inc. reported third quarter earnings per share in line with analysts’ estimates and raised forecasts for 2013 and 2014.

BG Group Plc, the U.K.’s third-largest natural gas provider, rose 2.8 percent to 1,060 pence amid takeover speculation reported in The Independent newspaper.

Swiss Life Holding AG (SLHN) gained 6.1 percent to 124.20 Swiss francs. Switzerland’s biggest life insurer may write down almost half the value of its German broker unit AWD Holding AG, an analyst survey showed.

Royal KPN NV (KPN), the former Dutch phone monopoly, added 6.8 percent to 4.26 euros. Moody’s Investors Service Inc. said European cable operators’ revenues will grow by between 5 percent and 6 percent in 2013.

Johnson Matthey, which makes a third of all auto-catalysts, tumbled 5.8 percent to 2,190 pence, its lowest in almost four months, after it reported a 2.2 percent drop in first-half profit as platinum prices slid, and forecast “similar” results in the second six months of its fiscal year. Net income was 145.7 million pounds ($232 million) in the six months ended Sept. 30, compared with 149 million pounds a year earlier, the London-based company said.

Siemens AG fell 1.3 percent to 77.60 euros after Deutsche Bank AG cut its rating on Europe’s largest engineering company to sell from hold, and reduced its price target on the shares to 65 euros from 75 euros, citing threats to its 2014 margin target, including low growth prospects.

Paragon Group Cos (PAG), the lender to British landlords, lost 1 percent to 238.3 pence after RBC Capital Markets downgraded the stock to sector perform from outperform. A 12-month target price of 260 pence per share was forecast for the stock. The company fell the most in nine weeks after analysts said its plan to increase dividends is too modest.

Major U.S. stock indexes finished the fourth session of gains, while showing moderate growth.
Major U.S. stock indexes show moderate growth. Support indices have reported that between Israel and Hamas agreed on a truce, which comes in situ at 19:00 GMT.
Growth index is still hampered by the lack of progress in addressing the other two questions, which, besides deteriorating situation in the Middle East, focused the attention of the market, namely, the "fiscal cliff" in the U.S. and the allocation of the next tranche of Greece finpomoschi.
U.S. financial markets will be closed in observance of Thanksgiving, in connection with which market participants are not in a hurry to occupy the position and prefer to stay out of the market.
Salesforce shares rose 8.89% to $ 158.875 after CEO Marc Benioff has signed an agreement with a large company that provides customers access to software Salesforce. This helps to prevent competition from corporations Oracle (ORCL), SAP AG and Microsoft, which buy companies that offer business management tools via the Internet and is growing in the area for the first time Salesforce.
Cost Deere (DELL) fell by 3.71% to $ 82.80. The company said that the sale of equipment in Europe will be the same, or lower than 5% in the 2013 financial year. At the same time in Asia, sales will drop even more due to the "soft" economic conditions in India and China. This could undermine the company's efforts to increase the share of sales made outside the U.S. and Canada and 50% in 2018.
Shares St. Jude Medical Inc. decreased by 12.49% to $ 31.25 after the manufacturer to maintain the heart rate, said that inspectors from the U.S. government criticized the methods of testing their cables used for defibrillators.
Most of the components of the index surged DOW (23 of 30). More than the others fell in the share price E. I. du Pont de Nemours and Company (DD, -0.98%). Shares rose more than other Hewlett-Packard (HPQ, +2.48%), which are now corrected after 12% of the fall.
All major sectors of the index S & P, with the exception of public utilities sector (-0.4%), strengthened. Maximum growth demonstrates the technology sector (+0.6%).
At the close:
Dow +48.38 12,836.89 +0.38%
Nasdaq +9.87 2,926.55 +0.34%
S & P +3.21 1,391.02 +0.23%

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