European stock market, economy and companies update (June 25, 2010)
European equities opened the session flat to marginally higher, following the sharp losses seen on yesterday's session. In terms of specific sectors, today's losses are being led by resource related companies, and financials are trading mixed. Factors weighing on markets include concerns about the global recovery, the widening of Greece's CDS spreads to new record levels and concerns related to Eastern Europe.
European stock market, economy and companies update (June 24, 2010)
European equities opened the session higher on slight gains in mining related shares on hopes that Australia's new incoming PM Gillard might makes concessions regarding the country's proposed mining tax. However, as the session progressed equities moved into negative territory as declines in commodity prices started to weigh on resource companies. Additionally, banks have declined as Greece's debt spreads have widened out to record levels.
European stock market, economy and companies update (June 23, 2010)
European stocks opened the session lower, tracking the declines seen in the US and Asia. The weakness on the session has been led by declines in financials (although UK banks have outperformed their peers) and resource related stocks. Factors driving today's declines include the PBoC in China setting the yuan currency weaker on today's session, and yesterday's disappointing US housing data. As of 5:30 EST, the FTSE 100 is lower by 0.60%, DAX -0.50% and the CAC-40 -0.88%. ***Euro Stoxx 50 Index -0.7% at 2,725; DAX Index -0.5% at 6,241; CAC-40 Index -0.9% at 3,673 and FTSE 100 Index -0.6% at 5,214.
European stock market, economy and companies update (June 22, 2010)
European equities opened the session lower, tracking the declines in the US and Asia, as the initial optimism related to China's pledge to increase the flexibility of the yuan faded. Today's weakness is being led by banks in France and Spain. Additionally miner shares have pulled back from the sharp losses seen on yesterday's session.
European stock market, economy and companies update (June 21, 2010)
European equities opened the session sharply higher, tracking the gains seen in Asia after China said that it would increase the flexibility of its yuan currency. The move by China was aiding risk appetite and indicated that China saw a more sustainable global economic recovery compared to their prior view of a 'fragile' global growth. Today's gains have been led by commodity related shares on speculation that a stronger yuan would increase Chinese demand for resource. Today's gains have also been supported by financials on speculation that the release of the EU bank stress tests could lead to greater transparency in the sector. Euro Stoxx 50 Index +1.4% at 2,775; DAX Index +1.3% at 6,297; CAC-40 Index +1.6% at 3,745 and FTSE 100 Index +1.0% at 5,305.
European stock market, economy and companies update (June 17, 2010)
European equities opened the session mostly lower, following yesterday's mixed session in the US and lower close in China. However, as of 5:40 EST, equities have moved higher on sharp gains in shares of BP and initial relief following Spain's government bond auctions. Euro Stoxx 50 Index +0.9% at 2,744; DAX Index +0.7% at 6,234; CAC-40 Index +1.0% at 3,713 and FTSE 100 Index +0.9% at 5,284.
European stock market, economy and companies update (June 16, 2010)
Following the positive session in the US and Asia, most European equity markets opened slightly higher. The early gains were led by banks. However, as the session has progressed equities have moved off of their best levels weighed down by Spanish banks and the widening in the peripheral bond spreads.
European stock market, economy and companies update (June 15, 2010)
European equities opened the session lower across the board as markets reacted to yesterday's move by Moody's to cut Greece's debt to junk. Equities were also weighed down by earlier declines in shares of BP, SocGen and Tesco. As of 5:36 EST, most equity markets have moved into positive territory, supported by Spain's bond auction results and weaker than expected UK CPI. Companies supporting the upside in markets include, shares of BSkyB and UBS. Euro Stoxx 50 Index +0.6% at 2,700; DAX Index +0.4% at 6,149; CAC-40 Index +0.7% at 3,649 and FTSE 100 Index +0.6% at 5,231.
European stock market, economy and companies update (June 14, 2010)
European equities opened the session higher, supported by gains in Asian equities and the narrowing in peripheral debt spreads. In terms of specific sectors, today's gains are being led by miners and financials. However, shares of BP are moving lower on continued concern about the outlook for the company's dividend and costs related to the Gulf fo Mexico oil spill. Euro Stoxx 50 Index +1.4% at 2,674; DAX Index +1.2% at 6,120; CAC-40 Index +1.5% at 3,608 and FTSE 100 Index +0.7% at 5,198.
European stock market, economy and companies update (June 11, 2010)
Equities in Europe opened the session higher by less than 1%, tracking yesterday's gains in US equities. Factors supporting the markets include sharp gains in shares of BP, comments from Spain Santander's shareholders meeting and the Italian government's bond auctions. Additionally, Spain's Economic Minister denied that his country had requested aid from the EU. In Individual Stocks: Fraport [FRA.GE]: Reported passenger volume increased at 7.1% y/y and group passeneger volume increased 14% y/y. || Buckeye Partners [BGH]: Buckeye Partners, L.P. and Buckeye GP Holdings L.P. announced merger agreement.
European stock market, economy and companies update (June 09, 2010)
European equity markets opened marginally higher, after Chinese stocks had a late day rally on reports that China's exports in May could rise by around 50% y/y. However, as of 5:21 EST, equities have moved off of the earlier highs following trade data out of the UK and a downward revision to Greece's Q1 GDP. Other factors which have weighed on sentiment included a rumor of a profit downgrade at Nokia and market concerns about BP's dividend. Furthermore. markets were slightly unsettled by the ECB noting that a report that it was planning to issue 10B was sent in error. Euro Stoxx 50 Index -0.5% at 2,499; DAX Index -0.3% at 5,848; CAC-40 Index -0.35 at 3,371 and FTSE 100 Index -0.4% at 5,007
European stock market, economy and companies update (June 08, 2010)
European equities opened the session higher, following the gains seen in some of the Asian equity markets. However, as of 5:40 EST markets have moved lower after the ECB's daily borrowing data, weakness in the euro and comments by Fitch about the UK. Also shares of Swiss bank UBS were weighed down by the Swiss Lower House agreeing to allow a popular vote on proposed tax settlement with the US. Euro Stoxx 50 index -1.5% at 2,492; DAX Index -1.35 at 5,827; CAC-40 Index -1.5% at 3,363 and FTSE 100 Index -1.35 at 5,005
European stock market, economy and companies update (June 07, 2010)
Coupled with the sharp losses in Friday's US session and today's Asian session, European equities opened down by more than 1%. The decline are being linked to debt concerns in Hungary and disappointing US payrolls data. The equity losses in Europe are being led by the resource and financial sectors. As of 5:34 AM EST, equities are still lower by have moved off of the session's worth levels, as the Hungarian Forint has turned positive, as some market players have downplayed Friday's comments regarding a possible debt default by Hungary. Additionally, supportive comments out of Russia's central bank regarding Spanish bonds were noted. Euro Stoxx 50 -1.1% at 2,525; DAX Index -0.8% at 5,891; CAC-40 Index -1.35 at 3,409 and FTSE 100 Index -1.1% at 5,071
European stock market, economy and companies update (June 03, 2010)
European equities opened the session sharply higher, supported by the overnight gains in the US, which were driven by better than expected US auto sales and housing data. The opening gains were led by resources related companies, automakers, and companies that reported figures, including Valeo, King Fisher and Air France. As of 5:41 EST, equities have moved off of their best levels, after BP's credit rating was cut by Fitch. Just ahead of the NY morning the Euro Stoxx 50 index up 2.1% at 2,655; FTSE 100 Index up 1.8% at 5,246; CAC-40 Index up 2.3% at 3,581 and DAX up 1.7% at 6,083.
European stock market, economy and companies update (June 02, 2010)
European equity markets opened the session lower across the board. Today's equity weakness has coincided with the widening in peripheral debt spreads, as Spanish spreads hit fresh record highs. Additionally, BP's credit defaults swaps moved to record highs for the second consecutive session. The declines on today's session are being led by resources stocks, as BP continues to ease. Additionally declines in shares of banks have weighed on indices.
European stock market, economy and companies update (May 31, 2010)
European markets expressed a degree of calmness following the Spanish sovereign downgrade on Friday by Fitch. The US and UK closed were closed for holidays. France official kept the austerity theme on the front burner after stating that France must either cut its spending or lose its "AAA" sovereign rating. The bourses that are open were in the lower portion of the session range and putting in a mixed performance ahead of the NY morning. France's CAC40 was lower -0.25% at 3,506.28 compared to Friday's close of 3,516. DAX was firmer at 5,963, up around 0.3%.
European stock market, economy and companies update (May 31, 2010)
European markets expressed a degree of calmness following the Spanish sovereign downgrade on Friday by Fitch. The US and UK closed were closed for holidays. France official kept the austerity theme on the front burner after stating that France must either cut its spending or lose its "AAA" sovereign rating. The bourses that are open were in the lower portion of the session range and putting in a mixed performance ahead of the NY morning. France's CAC40 was lower -0.25% at 3,506.28 compared to Friday's close of 3,516. DAX was firmer at 5,963, up around 0.3%.
European stock market, economy and companies update (May 28, 2010)
European bourses opened higher for the third straight session in continued momentum from the eUS and Asian rallies. The momentum continued to build from Thursday comments from Chinese Gov't authorities after they expressed confidence in its European investments. FTSE100 opened 0.43% at 5,217. DAX30 also gained 0.43% at 5,962 and CAC40 rose to 0.79% to 3,355 points. Markets slipped briefly in negative territory but recuperated again during the session. Trading remained volatile in thinning conditions ahead of US and UK banking holidays with little impact from spare European economic releases.
European stock market, economy and companies update (May 27, 2010)
European equities opened the session higher and most indices are currently trading on their best levels. Equities have been supported by corporate earnings and the early gains in the Asian equity market. Additionally, comments from China regarding the euro have been supportive. Dealers also cited comments from Hedge fund manager Barton Biggs that US stock markets were oversold and might rally strongly in the next few days.
European stock market, economy and companies update (May 26, 010)
European equities opened the session higher, led by gains in the peripheral countries. Today's advances have been led by basic material and banking shares. Additionally, earnings from retailer Burberry have supported the FTSE 100. Overall, the best gains have been seen in the peripheral European equity markets. Shaftesbury [SHB.UK]: Reported H1 profit of £122.7M comparing favorably to loss of £159.9M a year ago, adj Pretax £11.1M slightly below year-ago of £11.3M; Property Revenues at £35.6M below year ago level of £36.9M.
European stock market, economy and companies update (May 25, 010)
European equities opened the session broadly lower led by weakness in banks and basic materials companies. The declines have been driven by renewed concerns about EU debt levels following an earlier Spanish government bond auction and geopolitical worries on the Korean peninsula. The selling has been driven by Spanish banks follow an overnight report that the Bank of Spain was forced to merge 4 domestic savings banks. As of 5:36 EST, FTSE 100 is lower by 2.8%, DAX -2.9%, CAC 40 -3.3%, FTSE MIB -4.1%, IBEX 35 -4%.
European stock market, economy and companies update (May 24, 010)
European equities opened the session higher, with the exception of Italy's FTSE MIB, tracking the sharp gains seen in China on the Shanghai Composite, amid speculation that China would delay further tightening measures due to the EU debt crisis. Additionally, the positive equity open coincided with the tightening of the EU peripheral debt spreads. Currently, equities are off by their best levels on factors including the possibly of a labor strike in Spain and concerns about Spanish banks, after it was reported over the weekend that Spanish savings bank CajaSur (19B in assets) was placed into receivership by the Bank of Spain. As of 5:43 EST, FTSE 100 is flat, DAX -0.50%, IBEX -0.90%, FTSE MIB -1.8%, CAC +0.47%.
European stock market, economy and companies update (May 20, 010)
European equity markets opened the session higher, supported by financials and more details on Dubai World's proposed agreement with its top creditors, some of whom include large UK banks. The equity gains have also coincided with the tightening in the sovereign debt spreads. Despite the gains in Europe Greece's ASE index is trading down on the session.
European stock market, economy and companies update (May 18, 010)
European equities opened the session higher led by gains on Spain's IBEX and banking shares. Additionally, shares in the UK on the FTSE 100 were supported by earnings reports from British Land and Vodafone. The gains in equities have coincided with the early narrowing in the EU peripheral bond spreads and reports that Greece will make the 8.5B bond payment which is due on May 19th. As of 5:40 EST, equities have moved off of their best level following the German ZEW data. The FTSE 100 is higher by 0.47%, DAX +0.87%, IBEX +1.8%, FSTE MIB +0.70%, CAC +1.1%.
European stock market, economy and companies update (May 17, 010)
European equities opened the session lower, following the sharp losses seen on Friday's session. However, as the session has progressed, equities have recovered driven by a rebound in banks. Additionally, gains in shares of BP have supported the FTSE 100. However, equities in Greece on the ASE are continuing to trade in negative territory on the widening in the country's credit default swaps and losses in banks. As of 5:35, the FTSE 100 is higher by 1%, DAX +1.2%, CAC-40 +0.50%, IBEX +1.6% and FTSE MIB +1.3%.
European stock market, economy and companies update (May 13, 2010)
Following the earlier gains in US and Asian equities, European equities opened the session higher. In early trading, stocks were supported by companies which rose following their respective earnings reports including the UK's Sainsbury and BT. However, after 4:00 EST, equities started to pare their opening gains led by losses on the IBEX and French banks. As of 5:30 EST, the FTSE 100 is higher by less than 0.10%, DAX +0.40, FTSE MIB -0.20% and the IBEX 35 is down by 1.1%.
European stock market, economy and companies update (May 12, 2010)
Most European equities markets opened the session lower, following a mixed trading session in Asia. Equities later moved into positive territory led by Spain's IBEX following additional comments from the country's PM regarding proposed deficit reduction measures, which led to declines in Spain's credit default swaps. As of 5:47 AM EST, Spain's IBEX is higher by 1%, while the FTSE 100 has moved into negative territory following mixed employment figures and comments out of the Bank of England.
European stock market, economy and companies update (May 11, 2010)
Following the prior session's massive gains on the EU's stability plan, European equities were lower on in the session on a combination of factors including less euphoria with regards to the EU aid measures, higher than expected inflation data in China, widening in credit spreads and political concerns in the UK. Today's losses are being led by Spain's IBEX, France's CAC (due to losses in banks) and the UK's FTSE 100. The major European bourses were down roughly 2% ahead of the NY morning with Spain's IBEX 35 off over 4%.
European stock market, economy and companies update (May 10, 2010)
Heading into the NY morning European equities were continuing to trade near their best levels in the session after opening sharply higher as spreads narrowed significantly following the disclosure of the EU's $962B emergency loan package. Major European bourses were higher between 4% to 9% and Spain's IBEX-35 index up almost 12%. Today's equity gains have been led by indices which had the largest declines on Friday's session, including the CAC-40, Portugal's PSI 20, and Greece's ASE. In terms of individual sectors, financials are outperforming led by French banks. BNP Paribas Deutsche Bank were leading the way for the financial secotr. Overall The European price action saw their largest gain in a year following the EU bailout pledge.
European stock market, economy and companies update (May 07, 2010)
Equities: Following the sharp declines seen in Asian and US equity trading, European indices opened the session to the downside, led by declines in Spain, Portugal, France and Greek as bond spreads widened. Also, the FTSE 100 opened the session lower as the UK is nearing a hung parliament. In early trading the French banking as they have started to disclosed their exposures to the peripheral EU economies. At the open shares of SocGen were off by more than 5%. Other including losers included Germany's BASF, on reports that the company might bid for chemical firm Cognis. Also, Munich Re opened lower following its Q1 earnings on concerns about the company's outlook and RBS opened down by more than 6% after its trading statement. As the equity session progressed, equities moved off of the lows, following HSBC's Q1 trading update, comments from Moody's on Italy and rumors of a possible ECB conference call with local banks. As of 5:30 EST, equity markets remained in negative territory ahead of Friday's G7 finance ministers conference call, German vote on the Greek aid package and US payrolls.
European stock market, economy and companies update (May 06, 2010)
European equities opened the session lower, following the negative leads out of the US and Asia. However, as the session progressed equities pared losses, led by shares of Germany's Commerzbank, after the company reported better than expected Q1 earnings. Additionally, markets were supported by a positive reaction to the trading update given by Diageo. As of 5:45 EST, equities have moved off of their best levels as markets await the ECB.
European stock market, economy and companies update (May 05, 2010)
After opening the session higher, European equities moved into negative territory as European peripheral spreads started to widen. The declines in stocks were driven by equities in Portugal, Spain and Greece. However after 4:00 am EST, bourses started to move off of the session's worst levels, and as of 5:35 EST the DAX and FTSE 100 are attempting to move into positive territory. Factors pulling equities off the session's lows included, better than expected EU PMI services data, the EU Commission cutting its Euro area deficit forecast and better than expected Q1 guidance from German insurer Allianz. Additionally, earnings from BMW and Societe Generale were supportive to markets.
European stock market, economy and companies update (May 04, 2010)
On today' session, European equities initially opened higher supported by corporate earnings and positive leads from the US. However, after 4:00 am EST most indices moved into negative territory led by losses in Spain's IBEX and Greek banks, as government bond spreads started to widen. According to matter chatter, the equity losses are being driven by various factors including, sovereign concerns related to Spain, continues worries about BP's escalating oil spill in the Gulf of Mexico and weaker than expected UK monthly mortgage approvals data. Additionally, shares of UBS have turned lower following the company's Q1 earnings reports on the firm's investment banking revenues and decision not to pay a dividend in 2010.
European stock market, economy and companies update (May 03, 2010)
Expects to material improvement in the group's operating margin compared with 2009 || TNT [TNT.NV]: Reports Q1 Net 143M v 134Me, Rev 2.75B v 2.6Be; Express volumes, revenues and results are expected to be well above 2009 levels; Mail volumes and results are expected to be below 2009 levels || Fuchs Petroleum [FPE.GE]: Reports Q1 Net Income 40.6M v 16.2M y/y, Rev 330.4M v 278.5M y/y; In the following quarters increasing prices for raw materials will also make it difficult to repeat the above-average earnings before interest and tax (EBIT) recorded in the first quarter of 2010.|| Ipsen [IPN.FR]: Reports Q1 Rev 266.2M v 260Me, reaffirms 2010 sales targets || Latecoere LAT.FR: Reports final FY09 Op loss 102.8M v profit 31.9M y/y, Rev 449.5M v 683.9M y/; Guides 2010 Rev in line with 2009 levels and expects a return to growth in 2011. || Audi [VOW3.GE] Audi reports Q1 Op profit 478M v 363M y/y, Rev 8.26B v 6.7B y/y; reiterates 2010 plans to increase operating profit and revenue; Guides FY10 Car sales more than 1M units || DTE.GE: CEO: sees no impact from the Greek situation on OTE; Greek results in line with expectations - AGM || XTA.UK: Glencore may be interested in merger with Xstrata valued around £55B; To propose "reverse takeover" of company
European stock market, economy and companies update (April 30, 2010)
European equities opened Friday mostly higher on hopes that a rescue plan for Greece could be revealed by as soon as this weekend, as evidenced by the sharp rally being seen in Greek banking shares. As of 5:50 EST, indices have moved off of their best levels, with the FTSE 100 index moving into negative territory. In US equities, S&P 500 Futures traded lower in Asia following a report in the Wall Street Journal that US federal prosecutors were conducting an early stage criminal probe of Goldman Sachs' mortgage trading activities. However, the WSJ said prosecutors had not determined whether they would bring charges in the case. Later, S&P 500 futures rebounded and traded into positive territory on the initial positive cues from European equities. The European corporate earnings session was headlined by UK bank Barclays, whose shares declined by more than 3% following its Q1 update.
European stock market, economy and companies update (April 29, 2010)
European markets are attempting to pick through a deluge of data and market flows. Yesterday's US equity recovery on FOMC comments led to a mixed equity performance in Asia (Japanese markets being closed for Emperor's day). The single largest macro concern continues to come from sovereign risk, highlighted by S&P's cut to Spain yesterday.
European stock market, economy and companies update (April 27, 2010)
Europe has kicked into high gear in regards to Q1 earnings season. Despite the broadly supportive corporate figures, macro level concerns emanating from China have continued to negatively pressure trading ranges. Declines in Chinese listed property and construction names continue to serve as a bellwether for fears of new, tightening related fiscal and monetary policy action from the PBOC. In European earnings, results from financials were initially greeted with positive enthusiasm. Deutsche Bank [DBK.GE] reported expectation defeating figures on the back of solid outperformance in its investment banking arm (CIB). Declines in core tier 1, and tier 1 capital ratios served as a foreshadowing of what became a drubbing of analyst's questions regarding future capital positions, exposure to Greece and Goldman Sachs related issues. Lloyds [LLOY.UK] continued the bullish financial call by confirming a slowdown in loan losses, and announced that the firm now expects to be profitable in Q1, H1 and FY10. Other financial sector earnings, from Swedbank [SWEDA.SW], represented first positive glimpses into earnings for those exposed to the Baltic's. Earnings from BP [BP.UK] beat analyst expectations, and showed noticeable q/q improvement in refining operations. BP maintained its cautious tone on production and refining exposure through 2010. Despite the earnings support, markets quickly adopted a heavy tone. Financials and basic resources, as a reaction to concerns from Asia, led the downward rotation. As shares of Deutsche Bank rolled over through the conference call, sentiment turned correspondingly sour across the Greek-exposed financial markets.
European stock market, economy and companies update (April 26, 2010)
Equity markets in Europe surged on the open the through the first 30-minutes of trade. Markets were initially driven on the macro level by continued risk appetite following expectations of a full solution to the Greek debt issue. This expectation provided an immediate boost to financials, and names related to Greek loans. Japanese March auto figures, showing surprisingly strong numbers from global giant Toyota [TM] provided support for the European auto sector. Cyclical names (steel, miners, and basic resources plays) continued their uptrend as the global recovery theme again dominated early flows. Enthusiasm for equities began to wane into 4:00EST following comments out of the Swedish Riksbank. Cautious commentary regarding issues in Europe (not being contained simply to Greece), led to a progressively accelerating widening of the Greece/German government bond spread. As peripherals and the Euro began to come under pressure, equities pulled back from their highest levels. News flows over the weekend have been mixed, broad speculation that RBS [RBS.UK] had lost two bidders for some its high street assets indicated the bank may be closer to coming to a sale; likewise Banco Popular [POP.SP] is seen as nearing its retail banking unit sale. The Bank of Ireland [BKIR.IR] announced the terms for 3.42B capital raise, putting the max government holding in the bank at 36%. Strong earnings were seen from TomTom [TOM2.NV] and Air Liquide [AI.FR], while Carphone Wharehouse [CWP.UK] boosted its guidance expectations.
European stock market, economy and companies update (April 23, 2010)
European markets are reacting to divergent pulls throughout the morning session. Pre-market trading was bid to the positive side mainly as a rebound from yesterday's equity losses. Trading in Asia and after market NY was downside dominated, pushed lower on negative earnings sentiment (Amazon [AMZN] and Microsoft [MSFT] lower post reports). Earnings figures for European firms were, however, broadly supportive and led an accelerating positive trend through first trades. Key earnings figures were seen from truck manufacturer Volvo [VOLVB.SW]. Volvo reported better than expected top line, bottom line, and margin figures while maintaining its growth outlook. Volvo's positive Q1 net was the first positive figure in that category for six consecutive quarters. European heavy vehicle manufacturers' responded sharply positive to the results. Earnings from consumer discretionary firms Adidas [ADS.GE] and L'Oreal [OR.FR] came in positive and supported sector rotation. Trading ranges were pushed to the upside by 2-year highs in the German April IFO read. IFO comments on export and utilization levels led the DAX to outperform to the upside. Not to be outdone, Greek news once again hijacked trading flows post 4:30EST. With building speculation that Greece would ask for activation of a bailout fund, markets have responded positively to potential finality in the Greek sovereign debt crisis.
European stock market, economy and companies update (April 22, 2010)
European equity markets have had a choppy session which has absorbed a markedly higher intake of corporate and macro news flows. Markets opened offered, in line with lower rotations in Asia. Earnings in the aftermarket NY session set a lower tone with negative themes in the tech and auto sector weighing on East Asian markets. Equities in Europe shook off the lower open, being driven higher by basic resource names and strength in the food/consumer discretionary sector. Solid earnings from market giant Nestle [NESN.SZ] pushed the higher momentum in food names as the group reiterated its 2010 goals and showed growth across all operating units in Q1 2010. Additional earnings from Swiss names were less supportive, as Credit Suisse [CSGN.SZ] and ABB [ABBN.SZ] failed to provide the blockbusters that analysts were looking for. Earnings releases have come fast and furious, names reporting have included Schneider Electric [SU.FR], Sodexho [SO.FR], Publicis [PUB.FR] and numerous other medium and small cap names. The theme from the most recent earnings flow has been decidedly mixed. Markets continued to push higher through 5:00EST, supported by strong preliminary April PMI reads. This momentum, and rotation, came to halt into 5:00EST as Eurostat released revised final 2009 EU state deficit to GDP ratios. In the new figures, both Ireland, and most notably Greece had their deficit numbers revised higher. This action kicked off an immediate flight to risk aversion with equities selling hard. On the back of this flow, market turnover volumes have been elevated throughout the session, highlighted by the CAC40.
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US stock market daily report (September 02, 2010,Thursday)
Wall Street investors remained cautious today as the latest news on job recovery did little to boost spirits. Today's report on unemployment was better than analysts' expected, but still more sluggish than they would like. Despite the slow recovery in the troubled job markets, analysts' say that the labor market is recovering better than it has in the past. In the worst time during the recession the unemployment rate hit a staggering 10.1%, the rate has since dropped to 9.5% according to recent reports. That is the quickest recovery seen throughout the years. If you look back through the numbers over the past recession, they proof is there to support it. After the 1990 recession ended, the economy shed another 300,000 throughout almost the whole year following.
US stock market daily report (September 01, 2010, Wednesday)
Stocks rallied in the first trading session in September, with the Dow being up triple digits. Thanks to a better than expected report on manufacturing, all three major indexes were on the rise. Typically in September, stocks post losses for the month. Investors say that maybe this year's September was in August. Stocks took a big hit in August; all three major indexes reported pretty significant losses. Coming in first was the Nasdaq; the index lost 6.2% in August, the Standard & Poor's 500 index is down 4.7% and the Dow Jones Industrial Average lost 4.3%. Recently when economic reports are released and they are better than expected stocks rise. Investors are looking for any positive news on the economy. They have feared throughout the summer that the economic recovery is headed towards a stand still. Analysts believe that the market will more than likely continue to fall overall. Despite the weary report from ADP stocks continued to rise. ADP is a payroll processing firm whose report is used as a way to tell what kind of report we will get from the Labor Department in their weekly report on the job market. ADP reported that employers cut 10,000 jobs in August, down from the 37,000 jobs added in July.
US stock market daily report ( August 31, 2010, Tuesday)
It was reported today that the amount of U.S. Banks in trouble is at a high that hasn't been seen since 1993. In a government report, the number of banks that have a possibility of filing doubled since last year. In the Federal Deposit Insurance Corp's quarterly survey, it showed an increase by 53 banks, taking the overall number to 829 banks being watched to fail. Just because the FDIC is watching these banks doesn't necessarily mean the financial institution will fail, it is just struggling. Few banks on the list actually get to that point; only 13% of banks on the list close. Last year the FDIC list reached 416, but in the first quarter of 2010 it rose to 775. In the report, it showed that 118 financial institutions have closed this year, and 45 of them were closed just in the second quarter.
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Intel Corp. (Nasdaq:INTC) is poised to top estimates over the next two quarters, 8 September 2009
Intel Corp. (Nasdaq: INTC) is a cyclical company. That is, its stock does extremely well when the economy is ready to accelerate, and does poorly when the economy decelerates. So its no wonder that last year the stock fell more than 50% from the record-high of $27.78 a share it reached December 2007. However, the company has rallied more than 50% from its Feb. 23 low of $12.08 a share. It closed Friday at $19.64.
Verint Systems price target reduced, 7 December 2007
RBC Capital Markets reduced its price target on Verint Systems from $34 to $25.
Thomas Weisel upgraded Intel to "overweight", 6 December 2007
Thomas Weisel Partners analyst Kevin Cassidy lifted price target on Intel shares from $28 to $33 per share, citing an expected jump in computer demand during 2008.
| | USA News |
Employment Situation: Tone is Improving, But Robust Gains Not Here Yet, 6 September 2010
Jobless Claims Continue to Hold at an Elevated Level, 3 September 2010
Looking Further Into The Job Market, 3 September 2010
Factories Are Humming Along, Albeit Not at a Robust Pace, 2 September 2010
Tax Rates, Business Investment, Personal Saving Rates: We Report, You Decide, 1 September 2010
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