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13.12.2012 08:02

Stocks: Wednesday’s review



Asian stocks rose, with the regional benchmark index heading for its longest streak of gains in three years, amid speculation the Federal Reserve will step up monetary easing.

Nikkei 225 9,581.46 +56.14 +0.59%

S&P/ASX 200 4,583.81 +7.81 +0.17%

Shanghai Composite 2,082.73 +8.02 +0.39%

James Hardie Industries SE, a building-materials supplier that counts the U.S. as its biggest market, added 1.7 percent in Sydney.

Mitsubishi Motors Corp. jumped 8.9 percent after the Nikkei newspaper reported the Japanese carmaker’s withdrawal from European production will boost its profit.

Guoco Group Ltd. surged 29 percent in Hong Kong after the property developer received a HK$8.25 billion ($1 billion) buyout offer from its biggest shareholder.

European stocks closed little changed as investors waited for the Federal Reserve to announce its decisions on interest rates and economic stimulus, while American lawmakers continued talks on a new budget.

Consumer prices in Germany in November, down 0.1% compared to the previous month and rose by 1.9% compared with the same period last year. German CPI, harmonized according to EU standards, fell by 0.2% compared to the previous month and up 1.9% compared with the same period last year.

The UK unemployment rate by the standards of the International Labour Organization (ILO) has dropped to 7.8% in August-October against 8.0% in May-July. The number of unemployed in the same period fell by 82,000, to 2.51 million. This is the most significant indicator fell from March-May 2001.

National benchmark indexes advanced in 12 of the 18 western European markets. The U.K.’s FTSE 100 gained 0.4 percent, while France’s CAC 40 was little changed. Germany’s DAX rose 0.3 percent.

Peugeot jumped 10 percent to 5.42 euros after La Tribune reported that Algeria may take a stake in Europe’s second- largest carmaker. Francois Hollande’s envoy Jean-Pierre Raffarin discussed a possible investment when he visited the North African country in November, the paper said. Separately, Peugeot said it will eliminate 1,500 job positions in addition to the 8,000 announced in July. The auto company, whose shares have plummeted 49 percent so far this year, will make the cuts by not replacing people who leave, according to spokesman Jonathan Goodman.

Wacker Chemie AG, the second-biggest maker of solar-grade silicon, surged 12 percent to 48.61 euros. China’s ministry of science and technology announced a second round of solar subsidies for this year, identifying projects with 2.8 gigawatts of power as eligible for state aid.

Barry Callebaut AG dropped 2.3 percent to 919 Swiss francs after saying it will buy Singapore-based Petra Foods’ cocoa- ingredients unit for $950 million. The deal, scheduled to be completed in mid-2013, will be the biggest acquisition made by the Swiss maker of bulk chocolate.

Indexes started the session moderately higher, but to consolidate its growth could not, and fell after the results meeting of the Open Market (FOMC) U.S. Federal Reserve.
U.S. Federal Reserve changed its bond-buying program, extending far-reaching efforts to revive the labor market and promoting economic recovery in 2013.
At the last meeting of this year, the Committee on the open market operations the Fed announced that it will begin "from the beginning" to buy long-term U.S. Treasury bonds by $ 45 billion a month. Last stimulus program from the Fed at the end of a suitable substitute for "operation twist", in which the Fed buys U.S. Treasury bonds by about $ 45 billion a month and sold short by about the same amount.
In contrast to the "Operation Twist," a new program of bond purchases increase the Fed's portfolio of assets, which last week reached 2.861 trillion dollars.
In addition, the Fed changed its communications strategy, called the level of unemployment and inflation, which can make it start to raise short-term interest rates, which are currently near zero.
The focus of market participants is still the situation with the solution of the "fiscal cliff." Investors are waiting for at least some specific information about the negotiations.
DOW index components were mixed. Below are the remaining shares Wal-Mart (WMT, -2.75%). Shares lead Hewlett-Packard (HPQ, +1.89%).
Among the sectors of the S & P also is mixed dynamics. The largest increase (+0.3%) in the three sectors - financial and industrial products and raw materials. At the bottom of the list - the services sector and health care (-0.3%).
The market capitalization of one of the largest insurers in the U.S. Aetna rose by 3.2% - the company predicts a 9% rise in sales and profit improvement next year.
At the close:
Dow 13,245.45 -2.99 -0.02%
Nasdaq 3,013.82 -8.48 -0.28%
S & P 500 1,428.48 +0.64 +0.04%

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