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The US indexes started the session on Wednesday with a moderate decline after Greece said it needs additional time to deal with the debt crisis.
“The market is a little tired. In recent weeks we have great height, but now again it seems like whether Europe or the U.S. Federal Reserve (Fed) will not disappoint”, said Andrew Fitzpatrick, director of investment Hinsdale Associates Inc regarding the possible support of the central banks in the global economy.
At the beginning of the session Dow Jones Industrial Average lost 0.35 percent to 13,157 points, S & P 500 by 0.26 Rade% to 1410 points while the Nasdaq started with a fall of 0.17% to 3062 points. “Some of the macroeconomic indicators have improved and this can reduce the chances of the Fed to undertake another round quantitative easing”, says Fitzpatrick. Meanwhile, the sales of existing U.S. homes in July rose by 2.3 percent to 4.47 million the previous month, after lower interest rates on mortgages rising rents and the creation of new jobs led to a moderate recovery.
Dell Inc lost more than 6 percent after the manufacturer of the hardware reviewed in the negative direction forecast for annual profit. Hewlett-Packard Co. will submit a report after the session.
The crude oil futures lost 0.03% to 96.55 dollars a barrel, while gold fell 40 cents to 1,642.5 dollars per ounce.
Most state index fell on Thursday, though managed to recover part of the accumulated losses at the beginning of the session, after technology companies grew in anticipation of the results of Google Inc. The heavy sales hit the financial sector after JP Morgan Chase & Co. announced disappointing data on profits in the third quarter. The S&P 500 Index fell 0.30 percent to 1204 points. Least among the 10 industry groups of the index presented financial companies with losses of 2.8%. Technology and telecommunications sector grew. The index has increased by 6% months after the close on Wednesday at levels of over 1,200 points for the first time in 3 weeks.
“It is quite normal when you reach the short peak to see some volatility before to test new levels”, said James Daly, investment director of TEAM Financial Asset Management. Nasdaq Composite Index rose 0.60 percent to 2620 points. After completion of the session is expected to announce Google profits from 8.74 dollars per share. Google is the third major U.S. company that announced their results this week.
The European securities lost achieved earlier in the day increases and closed trade on Thursday with a decline after Japan was registered with another earthquake. However, shares rose in Lisbon after Portugal’s decision to seek financial assistance. Stoxx Europe 600 index fell 0.3 percent to 280.78 points after a strong aftershock of magnitude 7.1 struck near the devastated northeast coast of Japan. Was issued a warning of the possibility of local tsunamis. The shares of banks in Portugal however managed to maintain growth rates achieved after the indebted country announced it would seek international financial assistance, such as Greece and Ireland. The stock prices of Banco Espirito Santo SA ended the session with a growth of 8.9 percent, and Banco BPI SA – 5,1%. European banks with the greatest exposure to the countries of the periphery were also stronger, as shares of Societe Generale rose 0.9 percent in Paris. The Portuguese PSI 20 index rose 1.2 percent to 7909 points. The stocks of Greek banks also registered strong gains after news of Portugal, as shares of National Bank of Greece rose by nearly 4%. Due to increases in the Greek ASE Composite rose 1.5% to 1 552.20 points. Overall, the markets did not react to expected rate rise by the European Central Bank, which raise the base rate to 1.25 percent from 1 percent. Bank of England announced earlier that it will leave interest rates unchanged.
The Asia stock index ended the week with solid increases, as market optimism prevailed for the fourth consecutive day. For this helped good news for decline in initial unemployment in the U.S. who supported shares of exporters in the region.
“The decline in applications for unemployment benefits in the U.S. increased confidence that the country is on track to higher employment, which will make sustainable recovery,” said Shane Oliver of AMP Capital. “This is great news for Asian exporters,” said the specialist.
Today the regional MSCI Asia Pacific Index advanced 1.2 percent, heading for its highest close since February 21. For the week the index rose 1.9 percent, erasing most of the experience of last week’s decline of 2.1 percent. The Tokyo Stock Exchange’s Nikkei 225 advanced 1 percent to 10 693.66 points, which brought him a weekly increase of 1.6 per cent. It also helped the retreat of the yen, sparking speculation about higher profits for exporters. The main index in Hong Kong – Han Seng, rose 1.2 percent today, ending the session at 23,409 points. Weekly the index rose by 1.7 per cent. In China’s CSI 300 rose 1.5 percent today, but in Taiwan and South Korea advanced indexes respectively with 0,5 and 1,9 per cent.
The U.S. stocks are less in a second straight session, ending with Friday’s session declines. Purchases in the last minutes of trade losses have reduced after the market dropped a jump in the crude oil prices. The index of 30 leading U.S. companies Dow Jones Industrial Average (DJIA) fell 0.7 percent to a level of 12,170 points. S & P 500 fell also by 0,7% to 1321 points, while the Nasdaq slid 0.5 percent to 2785 points. The continued fighting in Libya sent oil futures to their highest levels during the session of nearly 2.5 years. The crude oil type “Brent” on the London Stock Exchange rose during the week 3.4 percent to almost 116 dollars a barrel and U.S. light crude jumped by about 7% to over 104 dollars – its highest level since September 2008.
“Oil out of control,” said Dave foraging managing director at Canaccord Genuity. “If prices remain above $ 100, the economy will not survive.”
The employment data from the day showed the U.S. economy has created 192 thousand new jobs in February and the unemployment rate unexpectedly fell to 8.9 percent from 9 percent in January. Meanwhile, the factory orders in the sector in January were up 3.1 percent, helped by growth in the aviation sector. This is well above the 2.1 percent expected by economists interviewed by Reuters. Orders in December had risen by 1.4 percent.
“The data on employment were not exceptional,” said Jeffrey Claintop, chief market strategist at LPL Financial. He stated that since the beginning of the recession have been lost 8.7 million jobs, and until the economy has recovered only 1.25 million
The stock market indexes in Asia, Australia and New Zealand rose for the first time since early this week after the sale of shares of the previous four days, caused by the troubled situation in the Middle East and North Africa, and the price of the crude oil. The shares of the transport companies, which suffered severely previous sessions, recovered part of the losses after Saudi Arabia and the International Energy Agency (IEA) said they can compensate for an infringement in oil supplies from Libya. The shares of technology companies also performed well because of forecasts that prices of computer chips may rise next month. The regional index MSCI Asia Pacific rose 1% to 136.68 points, but has lost 2.3 percent since the beginning of this week, after oil prices jumped over $ 100 for the first time since October 2008. The Leading Japanese Nikkei 225 index added 0.7 percent to 10 526.80 points, while Australia S & P / ASX 200 rose 0.6 percent to 4 836.50 points. Because of rising oil prices and food prices this year deflation in Japan in January fell to its lowest level in nearly two years. The South Korea’s Kospi index rose 0.7 percent to 1 963.43 points and broader Chinese Shanghai Composite Index ended the session unchanged at 2 878.56 points. In Hong Kong Hang Seng rallied 1.8% up to 23 012.40 points. Well in the last session this week and presented companies with operations in the Middle East and South Korean engineering company Hyundai Engineering & Construction, which realizes 38% of its revenues in this region.
The European stocks fell for a third day because of growing concerns that accelerating inflation will lead to higher borrowing costs. The Pan-European Stoxx Europe 600 index lost 0.2 percent to 286.78 points. Earlier this week, the index reached its highest level since September 2008 due to optimism that economic recovery is accelerating. During the session, the decline in Stoxx 600 reached 1%, but the index managed to return part of the losses after data on initial claims for unemployment benefits in the U.S. fell to its lowest level since July 2008 last week. The major national indexes retreated in 14 of 18 western European markets. Britain’s FTSE 100 lost 0.5% to 6 020.01 points, while the French CAC 40 won 0.1 percent and Germany’s DAX index advanced 0.3 percent. The main Greek ASE index plunged by 3.5 percent after shares in EFG Eurobank Ergasias SA lost 9%. Tumbled by 7.7 per cent reported the shares of Air France-KLM Group announced an unexpected loss because, while those of Deutsche Boerse rose 4.6 percent after news of merger talks with NYSE Euronext.
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The European stocks saw increases on Monday as bank shares led “Bulls”. On Sunday, the world’s banking regulators signed an agreement which governs the capital adequacy requirements, which proved to be less severe than anticipated. In addition to new standards deal with financial groups will have a period of eight years. As currently in the U.S. and earlier in Europe bank shares advanced following news of the weekend. Pan-European Stoxx Europe 600 index rose 0.67 percent to 266.48 points level. Analysts quoted by MarketWatch, appetite for risk returned to the market and new requirements for banks are a good signal that will support future growth. But others believe that the performance criteria set before the financial sector will not allow any new banking crisis, “because I do not know where exactly it will come. The trouble is that in periods of high risk usually have high levels of trust. At the regional level on Monday Britain’s FTSE 100 rose 1.14 percent to 5565 points, Germany’s DAX rose 0.76 percent to 6262 points and France’s CAC added 1.11 percent to 3767 points. Credit Agricole shares rose 5.75 per cent, of the Societe Generale – with 4.3 per cent of Commerzbank – to 2.07 per cent of Lloyds Banking Group – a 2.8 per cent of Royal Bank of Scotland Group – by 2,5 percent.
Increased sales of shares on stock markets in Asian and Pacific region fell by 10 percent of the regional index MSCI Asia Pacific last month. This is a sign for a period of adjustment of the securities markets in the region triggered by fears about a debt crisis in Greece and the tightening of monetary policy in China. MSCI Asia Pacific, which oversees securities markets in ten Asian countries plus Australia, New Zealand, losing 0.3 percent to 116.29 points during today’s session. He is already 10% below its highest point this year, which said on April 15 and this is one of the signs of market correction. MSCI Asia Pacific decreased by 2.8 percent on Monday, taking its strongest decline for the past six months, amid worries that in Greece this week to meet debt payments of about 11 trillion. dollars. Eurozone finance ministers yesterday discussed measures to tighten the budget deficits in Europe and assured that the euro is a stable currency. Stock exchange in Japan the Nikkei 225 ended the session almost unchanged at 10 242.64 points after the index of consumer confidence of households increased more than expected to 42.0 points in April, while the index of business activity in the services sector declined by 3 percent on a monthly basis.