ASIA
The MSCI Asia Pacific Index slid 0.2% last week for the fourth such loss in five weeks. Still, the index climbed 9.2% this year through Nov. 22 as investors bet the Federal Reserve won’t taper its monthly bond buying before 2014.
Earnings on the Asia Pacific measure will grow 12% next year and 10%in 2015, according to analyst estimates compiled by Bloomberg.
The Topix advanced 45% this year through Nov. 22, the most among 24 developed markets tracked by Bloomberg, as Prime Minister Shinzo Abe and Bank of Japan Governor Haruhiko Kuroda added stimulus to the economy in a bid to end deflation and boost growth.
Goldman Sachs Group Inc. raised its price target for Japanese shares last week for the sixth time this year on expectations the government will make progress on measures such as cutting corporate taxes and restarting nuclear reactors. The brokerage boosted its 12-month outlook for the Topix to 1,450, up from the 1,400 projection set on May 17.
EUROPE
Most European stocks closed last week lower despite the fact that the German business confidence rose to the highest level since April 2012 and investors weighed comments by European Central Bank officials.
The Stoxx Europe 600 Index lost less than 0.1% to 322.77 last week as Federal Reserve minutes signaled policy makers may reduce $85 billion of bond purchases sooner than investors predicted. Future volatility in euro-area stocks, estimated by options prices, fell to the lowest level since February 2007.
The Ifo institute’s German business climate index, based on a survey of 7,000 executives, increased to 109.3 this month from 107.4 in October. That beat economists’ forecast for a gain to 107.7.
Daily Mail & General Trust Plc (DMGT) gained 3.5% after Barclays Plc upgraded its recommendation on the newspaper publisher.
Whitbread Plc climbed 3% after JPMorgan Chase & Co. raised its rating of the company to overweight, similar to buy.
Rhoen-Klinikum AG fell 3.3% after saying its second-biggest shareholder sued to block the sale of 43 clinics to Fresenius SE’s Helios unit.
USA
U.S. stocks rose for a seventh week, sending the Dow Jones Industrial Average (INDU) to the longest stretch of gains in almost three years, as improved data on employment and retail sales offset concern over a cut in monetary stimulus.
The Standard & Poor’s 500 Index (SPX) added 0.4% to a record 1,804.76 over the five days, extending its longest weekly advance since February. The Dow climbed 103.07 points, or 0.7%, to 16,064.77.
Equities slipped during the first three days of the week as minutes from a Federal Reserve meeting indicated the central bank may reduce monetary stimulus in coming months. Stocks rebounded over the next two sessions, with the Dow closing above 16,000 for the first time, as data showed weekly jobless claims fell to the lowest level since September. Retail sales increased 0.4% in October, the most in three months, according to a Commerce Department report.
Four out of five investors expect the Fed to delay a decision to begin reducing its bond buying until March 2014 or later, according to the Bloomberg Global Poll of investors, traders and analysts who are subscribers. Just 5% are looking for a move at its Dec. 17-18 meeting, the Nov. 19 poll showed.
Profits for S&P 500 companies will grow 9.9% in 2014, up from a 4.8% increase this year, analysts’ estimate
Four out of the 10 main S&P 500 industries gained as financial and health-care shares climbed more than 1.6% for the best performance.
Yahoo! Inc. (YHOO) and Union Pacific Corp. climbed at least 1.6% after announcing stock buybacks. Airlines advanced as United Continental Holdings Inc. rallied 4.9%. Time Warner Cable (TWC) Inc. jumped 10% on speculation the company will be bought. Best Buy Co. and Campbell Soup Co. paced declines among consumer stocks, sinking at least 7.2% amid disappointing forecasts.
JPMorgan Chase & Co. rallied 4.7%. The bank agreed to pay a record $13 billion to resolve U.S. probes into the bank’s sale of mortgage bonds that officials said helped feed the financial chaos of 2008.
Комментариев нет:
Отправить комментарий