Wednesday May 14, 06:00 AM
Thomson Financial Europe AM at a glance share guide: Shares, oil mixed
LONDON (Thomson Financial) - U.S. SUMMARY: Shares mixed, dollar strengthens
Index Change Percent change
*DJIA 12832.18 -44.13 -0.34
*Nasdaq
(NASDAQ: news) 2495.12 +6.63 +0.27
*S&P 500 1403.04 -0.54 -0.04
Nymex crude
for June $125.80 +1.57 dollars
10 year U.S.
treasury 3.91 percent
* Tuesday's close
STOCKS: Wall Street turned in a mixed performance Tuesday after a fresh report on retail sales and a new oil price record suggested that the economy is hurting and costs are rising, but things could be worse.
The Commerce Department's latest report showed that retail sales fell by 0.2 percent in April, as expected.
Oil prices, meanwhile, spiked to a trading record of $126.98 a barrel on the New York Mercantile Exchange.
Tuesday's wavering trading in the stock market reflected its ongoing uncertainty about the economy.
BONDS: Treasury prices fell Tuesday as signs of modestly better-than-expected consumer spending and rising inflation made safe government securities less attractive to investors.
The benchmark 10-year Treasury note fell 24/32 to 99 28/32 and its yield rose to 3.91 percent from 3.80 percent late Monday
FOREX: The dollar strengthened against most major currencies Tuesday despite gloomy U.S. economic data and record oil and gas prices.
The 15-nation euro fell to $1.5480 in late New York trading from $1.5540 late Monday.
The British pound declined to $1.9459 from $1.9566.
The dollar also climbed to 105.26 Japanese yen, up from 104.17 yen late Monday.
OIL: Oil prices spiked to a trading record of $126.98 a barrel on the New York Mercantile Exchange after Iranian news services reported Iran is considering a cut to output. It later settled up $1.57 at $125.80.
METALS: Gold prices fell sharply Tuesday after the dollar gained some muscle against the euro, weakening the appeal of precious metals as an inflation hedge.
Gold for June delivery fell $15.30 to settle at $869.60 an ounce in light trading on the Nymex, after earlier falling as low as $861, its lowest level in a week.
Other precious metals also traded lower Tuesday. Silver for July delivery fell 39.7 cents to settle at $16.828 an ounce on the Nymex, while July copper lost 1.80 cents to settle at $3.7315 a pound.
EVENTS:
April consumer prices
April real earnings
Energy Department weekly oil stocks
American Petroleum weekly oil stocks
April Cleveland Fed Median CPI
April NJ employment and unemployment
Agilent Technologies Inc. Q2 results. EPS forecast $0.48 versus $0.43
Deere & Co Q2 reuslts. EPS forecast $1.75 versus $1.36
Freddie Mac Q1 results. LPS forecast $0.92
Macys Inc. Q1 results. EPS forecast $0.19 versus $0.01
ASIA SUMMARY: Stocks mixed; Japanese government bonds sharply lower
Index Change Percent change
Nikkei 225 (news) 13,990.04 +36.31 +0.26 (0420 GMT)
S&P/ASX 200 5,873.40 +60.70 +1.04 (0421 GMT)
Straits Times (news) 3,190.65 -12.77 -0.40 (0238 GMT)
Hang Seng (news) 25,211.82 -340.95 -1.33 (0421 GMT)
Seoul Composite 1,834.53 -8.27 -0.45 (0422 GMT)
BSE Sensex 16,630.44 -122.42 -0.73 (0425 GMT)
usd-yen 104.63 -0.10 -0.10 (0300 GMT)
10-year JGBs 1.695 percent +0.11 +7.28 (Intra (Milan: PIN.MI - news) -day)
Brent North Sea $123.97 -0.12 -0.10 (Intra-day)
crude for June
STOCKS: Asian stocks were mixed with Japan and Korea falling after a fresh spike in oil prices, while Australia
outperformed as miners rallied on higher base metals prices and talk BHP Billiton (LSE: BLT.L - news) may raise its bid for Rio Tinto (Frankfurt: 855018 - news) .
BONDS: Japanese government bond prices were sharply lower at the end of morning trading, tracking declines in U.S. Treasurys, amid worries about rising inflation. Data released this morning showed Japan's corporate goods prices index rose
3.7 percent in April due to surging commodity prices. That followed a 3.9 percent increase in March which was the fastest annual rise since February 1981. Investors also exercised caution ahead of the 1.9 trillion yen worth of
five-year government bonds to be auctioned on Thursday.
FOREX: The U.S. dollar was trading mixed against major currencies in Tokyo, with the greenback slightly supported by fading expectations of further interest rate cuts by the Federal Reserve.
OIL: Crude oil prices eased in Asian trade, after striking an all-time high near $127 despite a forecast for slower demand growth for energy. New York's main oil futures contract, light sweet crude for June delivery, slipped eight cents to $125.72 per barrel.
METALS: Gold fell Tuesday as oil prices eased from record highs and as many expect the dollar's recent move higher may continue. Other precious metals too dragged lower, tracking gold. Copper continued to fluctuate in a narrow range
during afternoon London trade on Tuesday, slipping into and out of negative territory as investors weighed the dollar's firmer tone against potential supply disruptions. Other base metals moved upwards yesterday.
EVENTS:
Japan April corporate goods price index
Japan March current surplus
CSR H1 results
Sony FY results
Westpac Banking May consumer confidence survey
Singapore Telecom FY results
EUROPE SUMMARY: London shares close slightly lower; oil hits new record
Index Change Percent change
*FTSE 6211.85 -8.80 -0.14
*DAX (Xetra: news) 7060.19 +24.24 +0.34
*CAC 4998.67 +22.46 +0.45
pound-dollar 1.9468 -0.0113
euro-dollar 1.5463 +0.0015
Brent
crude(June) $124.54 +$1.63 (1553 GMT)
*Tuesday's close
STOCKS: Leading London shares fell, but were well off lows by the close, with the heavyweight mining sector making a positive contribution, though Alliance & Leicester fell to a record low, and helped keep most banks firmly in the red.
FOREX: The pound initially spiked toward day highs against both the dollar and the euro, following news that inflation in the
United Kingdom in April rose by far more than anticipated but soon gave up those gains over concerns about the outlook for the economy. Official figures show that the annual CPI (NYSE: CPY - news) inflation rate increased by 3.0 percent in the year to April, way ahead of analysts' expectations for a more modest increase to 2.6 percent from the previous month's 2.5 percent.
BONDS: European government bonds were tracking their U.S. counterparts sharply lower after solid data from the world's largest
economy reinforced views that the Federal Reserve will not cut interest rates at its meeting in June.
In the UK, gilts were underperforming the rest of the bonds market, hit by inflation concerns following Tuesday's stronger-than-expected CPI data, dampening hopes that the Bank of England might cut interest rates next month.
OIL: Oil hit a new record high close to $127 a barrel in New York as tightness in the distillate market and a dip in prices
earlier in the day encouraged crude buying.
METALS: Gold fell as oil prices eased from record highs and as many expect the dollar's recent move higher may continue. At 1206 GMT, spot gold was trading at $880.18 per ounce against $884.20.
Among other precious metals, silver tracked gold lower to trade at $17.09 an ounce against $17.17. Platinum dipped to $2,063 an ounce against $2,108, while its sister metal palladium was trading at $433.00 against $440.50.
EVENTS:
UNITED KINGDOM
INTERIMS
Compass Group (LSE: CPG.L - news)
Dimension Data (LSE: DDT.L - news)
Fountains
Gateway Telecommunications
Interserve
FINALS
Datatec
First Derivatives (LSE: FDP.L - news)
FirstGroup (LSE: FGP.L - news)
Land Securities (LSE: LAND.L - news)
Leisure & Gaming
J Sainsbury
Tangent Communications (LSE: TNG.L - news)
Vertu Motors (LSE: VTU.L - news)
AGMs
AMEC (LSE: AMEC.L - news)
Arbuthnot Banking Group
BG Group (LSE: BG.L - news)
Henry Boot (LSE: BHY.L - news)
Bunzl (LSE: BNZL.L - news)
Catlin Group (LSE: CGL.L - news)
Chime Communications (LSE: CHW.L - news)
Glanbia (Dublin: GL9.IR - news)
Imagesound (LSE: ISD.L - news)
International Personal Finance (LSE: IPF.L - news)
Interserve
Legal & General
LogicaCMG
Matica
Nichols
Oxford Catalysts Group
Rentokil Initial (LSE: RTO.L - news)
SIG (SIGN.SW - news)
STM Group (LSE: STM.L - news)
TT electronics (LSE: TTG.L - news)
Tullow Oil (Dublin: TQW.IR - news)
Unilever
Venture Production (LSE: VPC.L - news)
TRADING STATEMENTS
Amlin
Barratt Developments (LSE: BDEV.L - news)
Chime Communications
Eurasian Natural Resources Corp
Interserve
Johnston Press (LSE: JPR.L - news)
LogicaCMG
PRODUCTION REPORT
Eurasian Natural Resources Corp (Q1)
ECONOMICS
UK labour market report (0930 BST)
BoE's quarterly inflation report (1030 BST)
AUSTRIA
Telekom Austria Q1 results (0530 GMT). EBITDA forecast 486 million euros versus 476 million
BENELUX
Dutch Q1 job vacancies - CBS
Fugro Q1 trading statement (before market opens). AGM
Super de Boer AGM
ArcelorMittal Q1 results
Ordina AGM
ING Q1 results
Dexia Q1 results (0500 GMT). Net profit forecast 342 million to 532 million euros versus 720 million
Bekaert Q1 trading update (0530 GMT), AGM
Nyrstar Q1 results (0530 GMT)
Solvay Q1 results conference call (1300 GMT)
EASTERN EUROPE
Polish April inflation (1300 GMT)
Czech auction of 3-year government bonds
Hungary April CPI
Polish finance ministry organise bonds tender (1100 GMT)
Komercni Banka Q1 results (0800 GMT). Net profit forecast 2.98 billion crowns versus 2.59 billion
PGNiG publishes Q1 results. Net profit forecast 589 million zlotys versus 787 million
PBG Q1 results. Net profit forecast 12.1 million zlotys versus 10.2 million
Asseco Poland Q1 results. Net profit forecast 39 million zlotys versus 24 million
ING Bank Slaski, a unit of Dutch ING Groep, Q1 results
Linamar Q1 results
FHB Q1 results
EUROPEAN UNION/EURO ZONE
Ecofin meeting
Euro zone March industrial output (0900 GMT)
OECD March composite leading indicator (1000 GMT)
EU rules on gas joint venture between MOL, CEZ
FRANCE
April CPI (0640 GMT)
April large retail store prices (0645 GMT)
Quarterly demand indicator (0650 GMT)
Dexia Q1 results. AGM (Brussels)
BNP Paribas Q1 results. Press conference (1100 GMT)
Sanofi Aventis AGM
Bouygues Q1 sales after market close
TF1 Q1 results
Vivendi Q1 sales after market close
President Sarkozy begins two-day visit to Mexico; to announce bilateral aerospace program
JCDecaux AGM
Arkema Q1 results (0530 GMT). Conference call with CFO Thierry Lemonnier and EVP for Strategy Bernard Boyer (1200 GMT)
EADS Q1 results
Theolia Q1 sales (after market closes)
GERMANY
Stada Q1 results
Deutsche Post Q1 results. Net profit forecast 454.67 million euros, down 9 percent
Bilfinger Berger Q1 results
E.ON Q1 results. EBIT forecast 3.34 billion euros, up 2 percent; sales 22.47 billion euros versus 21.07 billion
K&S Q1 results (0500 GMT). AGM (0800 GMT)
Lanxess Q1 results
ThyssenKrupp Q2 results. Net profit forecast 480 million euros, down 38 percent
GREECE
Bank of Cyprus Public Company AGM
Hellenic Petroleum AGM
ATEBank AGM
Hellenic Exchanges Holdings AGM
S&B Industrial Miner AGM
Bank of Piraeus Q1 results. Net profit forecast 129.4 million euros, up 36 percent
ITALY
April final CPI (0800 GMT)
Enel Q1 results (0530 GMT). EBITDA forecast 3.200 billion to 3.350 billion euros versus 2.332 billion
UBI Q1 results (0530 GMT). Operating profit forecast 445 million to and 522 million euros versus 491 million; net
profit 223 million to 277 million euros versus 219 million; revenue 1.085 billion to 1.169 billion euros versus 1.112 billion
Mondadori Q1 results
ERG Q1 results
Tod's Q1 results.
A2A Q1 results
Campari Q1 results. Pretax profit forecast 39.2 million to 40.6 million euros versus 37.5 million; EBIT 37.0 million to 45.2 million euros versus 41.7 million; sales 176 million to 201 million euroes versus 196.6 million
Benetton Q1 results. Net profit forecast 19.7 million to 28.0 million euros versus 27 million; sales 466.0 million to 473.4 million euros versus 460.0 million
Impregilo Q1 results
Prysmian Q1 results
Hera Q1 results
Parmalat Q1 results
PORTUGAL
BPI (Milan: BPI.MI - news) , BCP, EDP CEOs speak at Exame conference in Estoril
Teixeira Duarte AGM
SCANDINAVIA
Finnish April consumer price index (0600 GMT)
DNO Q1 results. Pretax profit forecast 127 million crowns versus 70 million; sales 432 million crowns versus 263 million
NKT Holding Q1 results
Ericsson (Stockholm: ERICB.ST - news) capital markets day, Stockholm
SPAIN
Preliminary Q1 GDP
Repsol YPF AGM (1000 GMT)
Telefonica Q1 results, conference call (1400 GMT). Net profit forecast 1.489 billion to 1.602 billion euros versus 1.257 billion euros; revenue 13.740 billion to 13.990 billion euros versus 13.747 billion
Iberia April traffic figures, Q1 results. Revenue forecast 1.255 billion to 1.326 billion euros versus 1.309 billion
Almirall Q1 results
Gamesa Q1 results
Indra Q1 results. Net profit forecast 41.0 million to 42.60 million euros versus 33.9 million; revenue 564.6 million to 582.2 million euros versus 522.1 million
Abertis Q1 results
SWITZERLAND
Schaffner H1 results (0400 GMT)
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