| ADVFN III | Morning Euro Markets Bulletin | ||
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Tuesday, 02 October 2012
Tuesday, October 2, 2012
ADVFN III Morning Euro Markets Bulletin -October 2nd. 2012-.
Monday, October 1, 2012
Money Show Investors Daily Alert -October 1, 2012-: New Opportunities in Total Return,
Investors Daily Alert
The Daily Guru
New Opportunities in Total Return, Dan Genter
Jim Jubak on MoneyShow.com
Today's Top Pros' Top Picks
A Growing Name in the Drinks Business, Gavin Graham
Turn to Hard-Asset ETFs for Now, Doug Fabian
Today's Gurus' Views & Strategies
The War on Cancer Reboots, Alex Philippidis
Today's Charts in Play
The 10 Most Overbought Dow Stocks, Tom Aspray
MoneyShow.com Exclusive Interviews
Is the Euro Doomed to Fail?, Jack Ablin
2 Less Volatile Oil Plays, Elliott Gue
Investor Clinic
4 Stocks Even a Forensic Accountant Can Love, John Heinzl
Ideas from Around the World
Earnings Opportunities in 5 UK Stocks, Alan Oscroft
Today's Featured Videos & Exclusive Interviews
Five Technology Trends Re-Shaping the Economy, Alex Daley
A Holy Grail Opportunity?, John Buckingham
GATA | THE GATA DISPATCH -October 1, 2012-: GoldMoney's Turk notes lack of profit taking in gold and silver
GoldMoney's Turk notes lack of profit taking in gold and silver |  |
Despite their big recent gains, gold and silver are not showing signs of profit taking, GoldMoney founder and GATA consultant James Turk tells King World News. That, Turk says, is an indication that their rallies will continue amid currency debasement. An excerpt from the interview is posted at the King World News blog here:
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/10/1_Tu...
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
GATA | THE GATA DISPATCH -October 1, 2012-: Ron Paul: Gold is good money so let it compete
Ron Paul: Gold is good money so let it compete | |
U.S. Rep. Ron Paul today explains (again) why gold is good money and why his legislation to facilitate competition in currencies is necessary to defend the people against the government.
"Earlier during this Congress," Paul writes, "I introduced the Free Competition in Currency Act (H.R. 1098) to permit people to use gold as money again. By eliminating taxes on gold and other precious metals and repealing legal tender laws, people are given the option between using good money or fiat money. If the government persists in debasing the dollar -- as money monopolists have always done -- then the people would be able to protect themselves by using alternatives such as gold that are both sound and stable."
Paul's commentary is headlined "Gold Is Good Money" and it's posted at the congressional Internet site here:
http://paul.house.gov/index.php?option=com_content&view=article&id=2016:...
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
ADVFN III Evening Euro Markets Bulletin -October 1st., 2012-.
| ADVFN III | Evening Euro Markets Bulletin | ||
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Monday, 01 October 2012
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| London close: Stocks surge after US data, Spanish stress tests Market Movers
- US data beats forecasts in September FTSE 100: Banks and miners lead the rise - Spanish stress tests lift sentiment - Banks and miners rise strongly in London Better-than-forecast manufacturing figures from the US and encouraging newsflow from Europe drove impressive gains on stock markets on Monday, with the FTSE 100 kicking off the fourth quarter with a bang and finishing up 1.4 per cent on the day. Economic figures from the US came in above expectations this afternoon, driving strong gains on Wall Street from the off. The ISM's manufacturing guage rose from 49.6 to 51.5 in September, its best level since May and above the 49.7 consensus estimate. "The number, at 51.5, shows significant growth compared to forecasts, potentially illustrating a forthcoming uptick in the broader US economy," said financial trade David White from Spreadex. "Not surprisingly, then, high beta stocks have diverged from their VWAPs [volume-weighted average prices], allowing the move to continue into the European close." Investors were seemingly shrugging off the news that both UK and Chinese manufacturing purchasing managers' indices (PMIs) remained below the 50-point mark in the same month, the level which separates contraction with expansion. Friday's release by Oliver Wyman on the Spanish financial sector was among the factors lifting sentiment on markets today. The independent auditor estimated that banks would need €59.3bn in funds in order to stay afloat, well within the €100bn limit given by the European Union. Meanwhile, media reports this weekend suggested that Greece many receive a new tranche of international aid as European leaders attempt to keep the country in the Eurozone. German magazine Focus said that Greece will receive an additional round of aid valued at €31bn. Banking stocks were in demand with Royal Bank of Scotland, Lloyds and Barclays benefiting from ratings upgrades from Liberum Capital, which lifted its recommendation on all three to 'buy'. The big news of the day was that the so-called merger of equals between commodities trader Glencore and mining titan Xstrata is back on after the independent directors of the latter agreed to Glencore's terms. Jefferies reiterated its positive stance on both stocks this morning, saying that they while they may underperform after the shareholder votes later this year, the combined 'Glenstrata' entity will be one of its top picks for the long term. British Airways and Iberia owner IAG was flying high after the International Air Transport Association (IATA) lifted its profit forecast for the global airline industry for this year by a third. Supermarket group Sainsbury was in the red ahead of its second-quarter trading statement on Wednesday. Sector peer Tesco, which reports its interim results on the same day, was also down after a ratings downgrade from Seymour Pierce from 'hold' to 'reduce'; the broker cited poor visibility as a reason behind the move. Defence group BAE Systems was wanted this morning after itself and aerospace titan EADS revealed details of its proposed £28bn tie-up. "There comes a time when it is right to seize the moment, and to create something that is even stronger and better. We believe that time is now," the companies' CEOs said in a joint statement. Meanwhile, tobacco groups British American and Imperial were up after some positive comments from Investec today. "The NHS wants us to stop smoking for October. We respond by going long on UK tobaccos," said analyst Martin Deboo. The broker has raised its rating on BATS from 'hold' to 'buy' and renewed its 'buy' recommendation for IMT. Shares in drugs giant AstraZeneca were hit in afternoon trading after the company revealed that it has suspended its share repurchase programme. The company has repurchased a net $0.7bn of shares since the end of the first half, bringing the year-to-date total to $2.3bn. The group's initial full-year target for repurchases stands at $4.5bn. FTSE 250: SuperGroup continues to be super SuperGroup continues to extend gains after its impressive results announced last month, in which it reported a 10% increase in total sales in the first quarter. Including today's near-9% rise, shares have gained 35% in the past month. Shares finished the day around technical resistance (at 650p) with the next key level being at 700p, according to technical analysts at Digital Look. "There does not seem to have been any fundamental trigger for the move, although shares had been 'thrown back' towards technical support at 600p," they said. House builder Taylor Wimpey was a high riser after Citi upgraded its rating on the stock. Sector peer Barratt Developments was also on the up. International investment group Caledonia rose after buying a portfolio of five industrial business from US-based operating company Latshaw Enterprises for $42m. FTSE 100 - Risers Anglo American (AAL) 1,891.00p +4.07% Polymetal International (POLY) 1,125.00p +3.69% Royal Bank of Scotland Group (RBS) 266.40p +3.66% IMI (IMI) 932.50p +3.61% International Consolidated Airlines Group SA (CDI) (IAG) 154.30p +3.56% Schroders (SDR) 1,572.00p +3.56% Barclays (BARC) 222.35p +3.49% Croda International (CRDA) 2,501.00p +3.13% Lloyds Banking Group (LLOY) 39.98p +2.95% Kazakhmys (KAZ) 712.50p +2.89% FTSE 100 - Fallers AstraZeneca (AZN) 2,925.00p -1.02% Sainsbury (J) (SBRY) 345.80p -0.49% Babcock International Group (BAB) 922.50p -0.49% Morrison (Wm) Supermarkets (MRW) 283.90p -0.46% CRH (CRH) 1,187.00p -0.42% Glencore International (GLEN) 342.00p -0.32% Tesco (TSCO) 331.00p -0.30% Kingfisher (KGF) 264.00p -0.08% G4S (GFS) 266.00p +0.11% Intertek Group (ITRK) 2,746.00p +0.22% FTSE 250 - Risers Supergroup (SGP) 649.00p +8.62% NMC Health (NMC) 195.70p +8.12% Pace (PIC) 169.90p +6.65% Morgan Crucible Co (MGCR) 278.10p +5.30% Spectris (SXS) 1,810.00p +4.93% Jupiter Fund Management (JUP) 254.20p +4.31% Rank Group (RNK) 150.80p +3.93% Hochschild Mining (HOC) 505.00p +3.91% Rotork (ROR) 2,351.00p +3.89% ICAP (IAP) 333.00p +3.71% FTSE 250 - Fallers WH Smith (SMWH) 625.00p -3.33% Stobart Group Ltd. (STOB) 114.00p -3.14% Telecom Plus (TEP) 821.00p -3.01% Talvivaara Mining Company (TALV) 148.90p -2.30% Ruspetro (RPO) 105.20p -1.68% Fidessa Group (FDSA) 1,447.00p -1.63% Computacenter (CCC) 374.70p -1.39% Provident Financial (PFG) 1,355.00p -1.31% London Stock Exchange Group (LSE) 933.00p -1.06% Ladbrokes (LAD) 171.00p -1.04%
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ADVFN III World Daily Markets Bulletin -October 1, 2012.-
| ADVFN III | World Daily Markets Bulletin | ||
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Monday, 01 October 2012
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| Stocks Mostly Higher In Reaction To Manufacturing Data With traders reacting positively to manufacturing data from around the globe, stocks have moved mostly higher during trading on Monday. The major averages have moved back to the upside after posting notable losses last week. The strength on Wall Street is partly due to the release of reports showing a slowdown in the pace of contraction in manufacturing activity in both China and Europe. Adding to the buying interest, the Institute for Supply Management released a separate report showing that U.S. manufacturing activity unexpectedly expanded in the month of September. The ISM said its purchasing managers index rose to 51.5 in September from 49.6 in August, with a reading above 50 indicating an expansion in manufacturing activity. Economists had expected the index to show a much more modest increase to a reading of 49.7. Airline stocks are seeing considerable strength on the day, driving the NYSE Arca Airline Index up by 1.5 percent. SkyWest (SKYW) and Delta are turning in two of the sector's best performances. Significant strength has also emerged among brokerage stocks, as reflected by the 1.4 percent gain being posted by the NYSE Arca Broker/Dealer Index. Steel, banking, and natural gas stocks are also seeing notable strength, moving higher along with most of the major sectors. While the tech-heavy Nasdaq has pulled back well off its best levels, the Dow and the S&P 500 are holding on to strong gains. The Dow is up 152.27 points or 1.1 percent at 13,589.40 and the S&P 500 is up 13.66 points or 1 percent at 1,454.33, while the Nasdaq is up 20.75 points or 0.7 percent at 1,136.98.
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ADVFN III Morning Euro Markets Bulletin -September 1st, 2012-.
| ADVFN III | Morning Euro Markets Bulletin | ||
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Monday, 01 October 2012
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| London open: Stocks shrug off disappointing Asian data Market Movers
- UK stocks make strong gains early on - Japanese, Chinese figures disappoint - Xstrata rises after agreeing terms with Glencore UK equities advanced on Monday morning in spite of some disappointing economic data from Asia as stock markets kicked off the fourth quarter on a positive note. The Bank of Japan's quarterly Tankan survey for large manufacturers fell from -1 to -3 in September, its fourth negative reading. Meanwhile, the HSBC/Markit China manufacturing purchasing managers' index (PMI) stayed below 50, which continues to indicate contraction in the sector. However, helping sentiment this morning was Friday's release by auditor Oliver Wyman which estimated that the Spanish financial sector would need €59.3bn in funds in order to stay afloat, well within the €100bn limit given by the European Union. "The broader market is higher from Friday's close, as the most compelling strategy currently adopted by investors is to position for equity outperformance relative to bonds," said financial trader David White from SpreadEx. "This week is likely to be a repeat of the familiar themes and headline risks faced by the market for some time, namely pressured European debt and a slowing China. Participants will turn to non-farm numbers due out from the US on Friday for a guide as to whether or not the labour market is currently improving," he said. Xstrata and Glencore agree terms The big news of the morning was that the so-called merger of equals between commodities trader Glencore and mining titan Xtsrata is back on after the independent directors of the latter agreed to Glencore's terms. Glencore was in the red early on while Xstrata was making gains. | ||||||||||||||||||
| UK Event Calendar |
Monday October 01 INTERIM DIVIDEND PAYMENT DATE Avesco Group, Jardine Lloyd Thompson Group, Legal & General Group, Portmeirion Group, Robinson, Stanley Gibbons Group INTERNATIONAL ECONOMIC ANNOUNCEMENTS Construction Spending (US) (15:00) ISM Manufacturing (US) (15:00) ISM Prices Paid (US) (15:00) PMI Manufacturing (GER) (08:55) Retail Sales (GER) (07:00) Unemployment Rate (EU) (10:00) FINALS Pure Wafer, Sabien Technology Group AGMS Begbies Traynor Group, City of London Investment Group, Swan (John) & Sons, Zetar TRADING ANNOUNCEMENTS Andor Technology, ITE FINAL DIVIDEND PAYMENT DATE Park Group, PZ Cussons, Swan (John) & Sons |
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| European stocks are set to edge lower on Monday, as weak economic data out of China and Japan underscored the headwinds faced by the global economy. China's manufacturing activity shrank for the second month in September on weak domestic and external demand, increasing the pressure on the government to step up stimulus. The official Purchasing Managers' Index came in at 49.8 in September, up slightly from 49.2 a month ago, but still remaining below 50 which divides growth and contraction. The reading was forecast to improve to 50.1. Separately, the Bank of Japan's tankan survey showed that large Japanese companies became more pessimistic about business conditions in the three months to September, weighed down by a persistently firm yen and weakening global demand. The key measure of business confidence fell to minus 3 from minus 1 in June. The results of a stress test conducted by management consultants Oliver Wyman showed that Spain's troubled banks need roughly 59.3 billion euros to shore up their finances in an adverse economic scenario. The capital needs estimate applies to 7 out of 14 banking groups entities on which the stress-testing exercise was conducted to assess the resilience of the Spanish banking system and its ability to withstand a severe adverse stress of deteriorating macroeconomic and market conditions. The independent stress test was commissioned by the Spanish government as part of the conditions agreed in July for a European bailout of as much as €100 billion for the country's banking system. Due to increased costs of public financing, Spain's public debt figure is expected to reach 85.3 per cent of gross domestic product in 2012 and 90.5 per cent in 2013, Spain's Minister of Finance and Public Administration Cristobal Montoro Romero said on Saturday, increasing speculation that Moody's Investors Service could downgrade Spanish government debt to 'junk' status. In economic releases, the average asking price for a home in the United Kingdom fell 0.1 percent in September from the previous month, falling for the third straight month, property monitoring site Hometrack said. The headline figure was in line with expectations and unchanged from the readings of the previous two months. In corporate news, Daimler AG and the Renault-Nissan Alliance announced that they are collaborating on two new projects to accelerate development of fuel-efficient powertrains. The stress test results for the Spanish banking system showed that several lenders, including Banco Santander SA, Banco Bilbao Vizcaya Argentaria SA and Banco Sabadell SA have capital excesses in the adverse scenario. The board of the mining giant Xstrata has backed the proposed merger between the company and Swiss mining and commodities trader Glencore International Plc. Mining giant BHP Billiton has projected its copper production to grow at a compound annual growth rate of 10 percent up to end fiscal 2015. Consumer electronics giant Royal Philips Electronics said that it has agreed to form a 50-50 healthcare joint venture in Saudi Arabia with a unit of the Al Faisaliah Group. Aviva Plc. has received buyout offers from Apollo Global Management LLC, Harbinger Capital Partners and Guggenheim Partners LLC for a U.S. life insurance division, the Bloomberg reported, citing people familiar with the matter. Shell Petroleum Development Company of Nigeria, a subsidiary of Royal Dutch Shell, said in a statement that it has shut down the 28-inch Bomu-Bonny Trunkline after it discovered a fire earlier in the day. European stocks fell notably on Friday as investors awaited the results of stress tests on Spanish banks. France's CAC 40 tumbled 2.5 percent, while the German DAX, Switzerland's SMI and the U.K.'s FTSE 100 lost between 0.7 percent and 1 percent. U.S. stocks managed to recover some early losses, but still ended the session on a weak note on Friday, with concerns over Spain's ability to deal with its banks and weak U.S. economic data on Chicago-area business activity and consumer spending weighing on the markets. The Dow edged down 0.4 percent, the tech-heavy Nasdaq slid 0.7 percent and the S&P 500 dropped half a percent. |
| US Market Report | ||
| US close: Stocks finish a splendid quarter in the red -Spanish 10 year bond yields down 1bp to 5.94% -Bank of America to pay $2.43bn in settlement -Nike off on China demand concern -Consumer confidence pressured by stagnant incomes -Personal income well below forecasts (with revisions) -Chicago PMI at 3 year low -Chicago PMI not signaling substantial further decline -Barclays -Fisher afraid Fed painting itself into a corner with QE3 Dow Jones Industrial: -0.36% Nasdaq Comp.: -065% S&P 500: -0.45% Wall Street benchmarks finished in the red on the last trading day of a quarter which saw the S&P 500 rise by almost 9% at one point. That after, mid-way through the session, Spain´s announcement of a smaller than expected capital shortfall at its banks –of 53.9bn euros- led to an advance in shares which almost took them into the blue. Thus, investors have been left wondering whether the end-of-quarter weakness –despite fund managers´ presumed best attempts at window dressing- is a harbinger of further weakness to come or, rather, just a light dose of profit-taking. Sportswear firm Nike announced earnings after the bell –on Thursday- which came in ahead of expectations, although it faces the hurdle of slowing growth in China. This pressured its shares. Bank of America has agreed to a $2.43bn settlement with investors who suffered losses during its acquisition of Merrill Lynch. Losses, also reported Thursday night, by Research In Motion, the maker of the still popular but no longer market-leading Blackberry smart-phone, were not as bad as feared. Its stock bounced back by 5% after earlier having risen by close to 20%. Worth noting perhaps, some market commentary on the company continued to be rather poor. Crown Castle agreed to acquire the rights to operate 7,200 cellular towers from T-Mobile USA for $2.4bn, giving the carrier's owner Deutsche Telekom cash to invest in its US wireless network. From a sector stand-point the worst performers were: Renewable energy equipment(-4.22%), Tires (-1.93%) and computer hardware (-1.92%). Amongst the most heavily traded issues on the NYSE were: Ford, Sprint and Bank of America. Weak income numbersOn the macro-economic front, US personal consumption expenditures (PCE) in August were up 0.5%, in line with expectations, after rising 0.4% in July.However, personal income was up 0.1%, slightly below expectations of a 0.2% increase. The July reading was revised to show a 0.1% gain from 0.3% previously. The personal savings rate fell to 3.7% from 4.1% in July. The Core PCE index rose 0.1% in August, as expected. Core prices were up 1.6% from a year earlier, versus a 1.3% annual increase in July. The notoriously volatile regional Chicago NAPM manufacturing sector purchasing managers' index for the month of September has come in at 49.7 (Consensus: 53), after a reading of 53 for the previous month. The new orders sub-index has come in at 47.4 (from 54.8) while the prices paid sub-index has printed a reading of 63.2 (after 57). "While this report is soft on the whole, the Chicago PMI had been running well above the ISM since 2011. We view the September print as bringing the Chicago PMI in line with the softer prints in the other manufacturing surveys rather than signaling a more substantial future decline," comment analysts at Barclays Research. The University of Michigan's gauge of consumer confidence for the month of September has come in at 78.3 (Consensus: 79) after the previous month's reading of 74.3 and a preliminary print of 79.2. The current situation sub-index fell to 85.7 from 88.3 (Consensus: 88) -largely reflecting stagnant income trends- but the expectations component actually rose; to 73.5 from 73.4 (Consensus: 73). Inflation expectations one year out fell to 3.3% year-on-year from 3.5%, while expectations five years out remained unchanged at 2.8% year-on-year. Other asset classes little changedFront month West Texas crude futures closed up slightly, by 0.27%, at the 92.10 dollar level on the NYMEX.10 year US Treasuries rose by 6/32 dollars, with yields at 1.63%. Credit Suisse expects to see the ounce of gold trading above the 1,800/oz. mark in three months´ time. S&P 500 - Risers Accenture Plc (ACN) $70.03 +7.11% Cerner Corp. (CERN) $77.39 +3.88% Coach Inc. (COH) $56.02 +3.15% Edwards Lifesciences Corp. (EW) $107.37 +1.75% Watson Pharmaceuticals Inc. (WPI) $85.16 +1.73% Cognizant Technology Solutions Corp. (CTSH) $69.89 +1.70% Cisco Systems Inc. (CSCO) $19.09 +1.60% Janus Capital Group Inc. (JNS) $9.44 +1.51% Iron Mountain Inc. (IRM) $34.11 +1.46% PPL Corp. (PPL) $29.05 +1.43% S&P 500 - Fallers First Solar Inc. (FSLR) $22.15 -4.18% Juniper Networks Inc. (JNPR) $17.11 -3.17% Seagate Technology Plc (STX) $30.96 -3.04% JDS Uniphase Corp. (JDSU) $12.38 -2.98% LSI Corporation (LSI) $6.91 -2.95% Lexmark International Inc. (LXK) $22.25 -2.71% Alpha Natural Res (ANR) $6.57 -2.67% Express Scripts Holding Co (ESRX) $62.63 -2.52% Denbury Resources Inc. (DNR) $16.16 -2.30% Federated Investors Inc. (FII) $20.69 -2.27% Dow Jones I.A - Risers Cisco Systems Inc. (CSCO) $19.09 +1.60% Home Depot Inc. (HD) $60.37 +0.82% International Business Machines Corp. (IBM) $207.45 +0.75% American Express Co. (AXP) $56.86 +0.51% Kraft Foods Inc. (KFT) $41.35 +0.38% Procter & Gamble Co. (PG) $69.36 +0.09% Dow Jones I.A - Fallers Intel Corp. (INTC) $22.66 -1.86% McDonald's Corp. (MCD) $91.75 -1.63% Bank of America Corp. (BAC) $8.83 -1.56% Alcoa Inc. (AA) $8.85 -1.45% Microsoft Corp. (MSFT) $29.76 -1.33% E.I. du Pont de Nemours and Co. (DD) $50.27 -1.12% Caterpillar Inc. (CAT) $86.04 -1.01% Coca-Cola Co. (KO) $37.93 -0.99% Hewlett-Packard Co. (HPQ) $17.06 -0.96% AT&T Inc. (T) $37.70 -0.76% Nasdaq 100 - Risers Research in Motion Ltd. (RIMM) $7.50 +5.04% Cerner Corp. (CERN) $77.39 +3.88% Baidu Inc. (BIDU) $116.89 +2.00% Cognizant Technology Solutions Corp. (CTSH) $69.89 +1.70% Infosys Technologies Ltd. (INFY) $48.54 +1.70% Cisco Systems Inc. (CSCO) $19.09 +1.60% Warner Chilcott Plc (WCRX) $13.50 +1.43% Monster Beverage Corp (MNST) $54.06 +1.16% Alexion Pharmaceuticals Inc. (ALXN) $114.40 +1.02% Citrix Systems Inc. (CTXS) $76.53 +0.93% Nasdaq 100 - Fallers Green Mountain Coffee Roasters Inc. (GMCR) $23.74 -4.08% Seagate Technology Plc (STX) $30.96 -3.04% Express Scripts Holding Co (ESRX) $62.63 -2.52% Apple Inc. (AAPL) $667.10 -2.09% Netflix Inc. (NFLX) $54.44 -2.00% Flextronics International Ltd. (FLEX) $6.00 -1.96% Altera Corp. (ALTR) $34.00 -1.93% Fossil Inc. (FOSL) $84.70 -1.88% Marvell Technology Group Ltd. (MRVL) $9.15 -1.88% Intel Corp. (INTC) $22.66 -1.86%
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