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06.12.2012 07:42

Stocks: Wednesday’s review



Asian stocks rose, with the regional benchmark index headed for its highest close in seven months, as Chinese banks and insurers surged after a rule limiting insurers’ investments in commercial lenders was abolished and the country’s new leaders pledged to promote “urbanization.”

Nikkei 225 9,468.84 +36.38 +0.39%

S&P/ASX 200 4,520.4 +16.82 +0.37%

Shanghai Composite 2,031.91 +56.76 +2.87%

Industrial & Commercial Bank of China Ltd., the world’s biggest lender, gained 1.4 percent in Hong Kong.

Ping An Insurance Co. jumped 5.1 percent as HSBC Holdings Plc agreed to sell its stake in China’s second-largest insurer for $9.4 billion.

Fast Retailing Co. gained 3 percent in Tokyo after Asia’s No. 1 apparel seller reported higher domestic sales at its Uniqlo chain.

European stocks ended the session in positive territory, as China signaled broad political support for economic recovery by allowing insurers to invest more money into the banks and in the promotion of urbanization.

Shares of HSBC Holdings Plc (HSBA) rose 1.24% after the bank agreed to sell its stake in China's Ping An Insurance Co (Group) for $ 9.4 billion. As it became known, the largest bank in Europe by market value to revive profits and increase capital.

Cost Tesco Plc rose by 3.31% percent after the company said it was reviewing the terms of its U.S. business. Aker Solutions ASA shares gained 4.98% after the company said it would increase their margins based on earnings before interest, taxes, depreciation and amortization by 15% by the end of 2017. Aker also said that on the way to achieving its objectives of growth, by 2015 it will support payments from 30 to 50 percent of their net income through dividends or share repurchases.

Stoxx 600 advanced 0.24% to 276.91 at the close of trading.

FTSE 100 5,892.08 +23.04 +0.39% CAC 40 3,590.5 +10.02 +0.28% DAX 7,454.55 +19.43 +0.26%

Also released today from ADP data showed that the number of people employed in November fell more than expected by experts, thus reaching the level of 118 thousand, compared to 157 thousand in the last month. Another report showed that the level of industrial orders in October rose by 0.8%, while expected to increase by only 0.1%, after increasing by 4.5% last month.

Shares Stagecoach Plc, which owns 49 percent of Virgin Trains, climbed 5.86% to 308.7 pence. It is learned that in the first half pre-tax profit amounted to 124 million pounds ($ 200 million), which was higher than forecast at 114 million pounds. The same time, adjusted earnings per share was 16.8 pence, which also exceeded the average forecast at around 15.5 pence.

The cost of Nokia Oyj (NOK1V) rose by 9.66% to 2.77 euros after the Finnish mobile phone manufacturer introduced a version of its flagship smartphone for China Mobile Ltd.

The published data on the index of business activity in the service sector and manufacturing orders have supported indices are turned back from session lows at the close of trading, the index DOW and S & P rose above zero.
Statistics showed that the index of business activity in the service of the Institute for Supply Management (ISM) in November rose to the level of 54.7 points, while analysts were expecting to reduce it to the level of 53.8 points versus the value of 54.2 points in October.
Released in parallel report on factory orders recorded their growth by 0.8% in October, compared with an expected value of 0.1% and 4.5% in September (revised from 4.8%).
Market participants continue to follow the negotiations on the issue of automatic tax increases and spending cuts, which media called fiscal or budget break.
Today, Speaker of the U.S. House of Representatives John Boehner said that President Barack Obama has called back its proposals. Boehner also said that at the moment no Republican plan or a plan Democrats can not be sent to a vote in Congress.
The cost of Apple fell 5.96% to $ 541.54 after the COR Clearing raised margin requirements "specifically" for Apple, with 30% to 60%, citing "high concentration", according to StreetInsider. According to market researcher IDC, the market share of the global tablet market will fall below 50% in 2016 from 56.3% in 2011, against the background of increased competition. They also noted that Microsoft, which introduced a new tablet at the beginning of this year, will hold more than 10% of the world market in 2016 with the operating system Windows.
Most of the components of the index DOW traded in positive territory. In the red are only five components that show the greatest decrease in stock Intel Corporation (INTC, -0.65%) and International Business Machines Corp. (IBM, -0,49%). The leaders are currently shares Bank of America Corporation (BAC, +5,30%).
Mainly positive dynamics show sector index S & P. The largest growth sector demonstrates utilities (+1.1%) and the financial sector (+1.0%). Reduction only shows the technology sector (-0.5%) and consumer goods sector (-0.3%).
At the close:
Dow +82.71 13,034.49 +0.64%
Nasdaq -22.99 2,973.70 -0.77%
S & P +2.21 1,409.26 +0.16%

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