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11.12.2012 08:05

Stocks: Monday’s review



Asian stocks gained, with a regional gauge excluding Japan heading for its highest close in more than a year after U.S. jobs data topped estimates and China’s factory output and retail sales signaled a quickening economic recovery.

Nikkei 225 9,533.75 +6.36 +0.07%

S&P/ASX 200 4,557.95 +6.19 +0.14%

Shanghai Composite 2,083.77 +21.98 +1.07%

Yue Yuen Industrial Holdings Ltd., a maker of shoes for Nike Inc., gained 1.9 percent in Hong Kong.

Rio Tinto Group, the world’s second-largest mining company, rose 1.9 percent in Sydney after Chinese industrial production beat estimates.

Advantest Corp., the largest producer of semiconductor-testing devices, jumped 5.1 percent in Tokyo after saying orders will rise.

Hino Motors Ltd. slid 1.3 percent after recalling trucks in the U.S. due to a battery flaw.

European stocks closed little changed at an 18-month high as China’s industrial output and retail sales exceeded forecasts, offsetting concern a leadership change in Italy will disrupt efforts to reduce debt.

In China, industrial output and retail sales exceeded forecasts last month in signs the economic recovery is accelerating. Factory production climbed 10.1 percent in November from a year earlier, the National Bureau of Statistics said yesterday, compared with the 9.8 percent median estimate of analysts. Retail sales growth accelerated to 14.9 percent.

National benchmark indexes gained in 10 of the 18 western European markets. Germany’s DAX and France’s CAC 40 added 0.2 percent, while the U.K.’s FTSE 100 rose 0.1 percent.

The FTSE MIB slid 2.2 percent as Monti said he will quit after losing support in Parliament. Silvio Berlusconi, his predecessor, announced a return to politics and criticized Monti for running a “German-centric” program. Monti will try to corral his coalition for a vote to pass the budget before handing in his resignation, President Giorgio Napolitano’s office said on Dec. 8.

UniCredit declined 5.2 percent to 3.46 euros, the biggest drop in four months, as a gauge of banks in the Stoxx 600 slid 0.9 percent.

Fiat SpA, Italy’s largest carmaker lost 3.5 percent to 3.49 euros, snapping four days of gains. Finmeccanica SpA, the Italian defense contractor, retreated 2.2 percent to 4 euros.

STMicroelectronics gained 4.2 percent to 5.21 euros in Milan. The European chipmaker struggling with weakening demand and competition from Asia will sell its stake in the ST-Ericsson joint venture by the third quarter of next year as part of a new strategy to make the company more profitable.

Oriflame Cosmetics SA, which sells beauty products through 3 million consultants worldwide, rose 4.2 percent to 196.50 kronor as Danske Bank A/S said it may report profit that will beat analyst estimates.

After the start of trading multidirectional major U.S. stock indices trading results showed moderate growth.
The current dynamics of the indices for the most part the result of a significant increase in the shares of some companies than to the fundamental message that today was diversified.
External background for the U.S. session unfavorable - in Italy escalation in political circles has led to the fact that Prime Minister Mario Monti announced his intention to resign, and Silvio Berlusconi expressed his willingness to regain the premiership and to reverse the budgetary reform that promoted Monti. Rejection of reform can complicate the already difficult situation in Italy and the euro zone as a whole.
Today stronger equities technology sector by increasing shares Hewlett-Packard Co (HPQ, +2.10%) and Cisco Systems (CSCO, +2.77%).
Had supported the early rumors about plans billionaire investor Carl Ikana to increase its share in the company.
In turn, shares of CSCO continue their growth through Friday announced in mid-term growth strategy.
In addition to these two companies' technology sector shares worth noting strengthen McDonald's (MCD, +1.06%), which increased due to strong sales data for November.
Against the background of the upcoming meeting of the Federal Open Market, which will take place later this week, and the uncertainties associated with the problem of "fiscal cliff," most investors continue to refrain from taking action on the market.
DOW index components were mixed. Maximum losses in shares of Home Depot (HD, -2.14%). Lead stocks Cisco Systems (CSCO, +2.77%).
Most sectors of the S & P index rose. Health sector and basic materials lead (+0.5%). Service and financial sector (-0.1%) were down more than others.
At the close:
Dow 13,169.88 +14.75 +0.11%
Nasdaq 2,986.96 +8.92 +0.30%
S & P 500 1,418.55 +0.48 +0.03%

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