Posts Tagged ‘europe forex’

Chances of European Stocks to open small

Friday, October 9th, 2009

On Wednesday there are chances that European Stocks will be opening low, with little near-term merging of the fresh profits probably following an impressive performance in the earlier session. On Tuesday, the European indexes increased two percent more in spite of the calls opening inferior, especially in the vital resources field. Ben Potter who is a research analyst with IG Markets said that with the prices of gold all time high, the miners also had a strong position in Asia and this area can also be predicted to continue in favor of European business.

Ben said that FTSE 100 of London index came down by nine points at 5128.0 or 0.1 percent, CAC- 40 of Paris came down 0.2 percent or ten points at 3759.0, DAX of Frankfurt came down 21 or 0.3 percent at 5636.0. In addition to this the investors is also anticipating American third-quarter earning numbers, which started later Wednesday with reports submitted by Alcoa. In the meantime on Wednesday, majority of the stock markets of Asia were high. Resources stocks, energy, and gold were shining when the prices of spot gold reached a record high.

Kospi Composite of South Korea increased 0.2 percent, Nikkei 225 of Japan increased 1.1 percent, and Hang Seng of Hong Kong increased 19 percent. American stocks rallied largely for a second session on Tuesday as the investors appeared even more hopeful about the stat of the third-quarter profits season. The index ended up 1.3 percent at 9731.2. The Standard & Poor’s 500 raised 1.3 percent at 1054.6. The profits were lead by the energy corporations which were up by 2.1 percent and materials organizations increased by 1.9 percent and NASDAQ Composite increased at 2103.5.

As for the foreign exchanges, on Wednesday the dollar was mixed in the early hours of European trading. The euro on Tuesday slightly became normal to $1.4719 from $1.4721 in late New York trading. But the dollar came down to Y88.54 from Y88.82. In another place the prices of spot gold reached the record high at $1042 per troy ounce. The metal was at $1042.19 at 0625 GMT, $4.44 high from New York close.

In New York, the lead November Nymex crude oil futures agreement raised 53 cents at $71.41 per barrel, after finalizing 47 cents more on Tuesday. The government bonds of Europe were slightly less following the healthy movements in equities across the world. At 0625 GMT, the December German bund future came down 0.04 at 122.37.

With healthy American gains European Stocks are predicted to open high

Friday, October 9th, 2009

With the healthy session in America which ended up with a triple digit profit to the Dow Jones Industrial Average, European stocks are anticipated to open high on Tuesday. According to James Hughes who is a market analyst at CMC markets, yesterday’s strong session in Europe was followed by some profits in both Asia and America as the traders started to feel optimistic.

James called FTSE of London 100 index up by 13 points, or 0.2 percent, at 5037.1, DAX of Frankfurt up 19, or 0.3 percent at 5527.8 and Paris’ CAC-40 up by fifteen points or 0.2 percent at 3690. Societe Generale will be center of attention after they have declared a capital increase of EUR4.8 billion in Europe. In addition to this, the European banking sector will be probably getting a lift after BoFA-Merrill Lynch improved the sector to overweight. Moreover the Tesco’s first half results will also be center of attention.

Earlier the equity markets of Asia most of them advanced Tuesday, encouraged by the solid gains for American stocks, although most of the markets came down or were making less profits.

The Nikkei 225 stock average became negative in Tokyo, as the continued power of yen in Japan increased the earnings distress for the exporters of the country. The increase in Asia was not able to match the extent of Dow Jones Industrial Average’s 1.2 percent gain on Monday. Yumi Nishimura at Daiwa Securities SMBC said that Wall Street’s rally didn’t signify that rectification in America stocks are over. Nikkei of Japan was 0.2 percent inferior after morning’s 0.7 percent. Kospi Composit of Korea too came down and was at 0.5 percent and Hang Seng Index of Hong Kong added 0.6 percent.

S&P/ASX 200 of Australia was higher by 0.5 percent even though the index came down a little after Australia’s Reserve Bank increased their key cash rate by 24 basis points at 3.24 percent. They became the first bank from the twenty nations in order to start financial tightening. For the session DJIA increased 1.2 percent to 959.7 which broke four day continuous losing.

On major banks, Goldman Sachs increased their rating to attractive Monday morning. Tough balance sheets, big assets, and better earnings, following the year’s worth of acquisition

Amongst other indexes Standard & Poor 500 increased 1.4 percent to 1040.4 and Nasdaq Composite raised 1.0 percent at 2068.1. As for the foreign exchanges, the dollar came down against yen and euro as risk hunger augmented. The participants of the market also noted the reports that every Gulf country is making plans to stop the usage of the dollar for the oil dealing. The euro was trading at $1.4734 which increased from $1.4647 on Monday. The dollar was projected at Y89.03 which decreased from 89.55.