19/06/2012

ce mardi 19 juin à 14h20,marchés +0.5 à 1%

AMERICAN MARKETS OUTLOOK:
U.S. stock futures were flat Tuesday with investor attention still focused on Spain's mounting debt problems and the upcoming Federal Reserve's monthly monetary policy meeting, which was expected to discuss easing measures.

"There is a view that an extension to Operation Twist would be a disappointment, and won't be enough to boost risk assets appreciably," said David Morrison, senior strategist at GFT Markets.

"This suggests that a fresh programme of asset purchases [possibly aimed at mortgage debt] is what the market is looking for."

At 1026 GMT, futures on the Dow Jones Industrial Average were up 0.1% at 12,706.0, S&P 500 Index futures were up 0.2% at 1,343.35 and Nasdaq 100 futures were up 0.4% at 2,596.75.


EUROPEAN MARKETS:
At 1007 GMT the Euro Stoxx 50 was up 0.5% at 2162.00, edging into the black despite a weaker-than-expected German ZEW survey. The economic expectations index fell to -16.9 in June from 10.8 in May, versus expectations for 2.8. The current conditions index also fell more than expected. Newedge said the data clearly show a general sense of panic among investors. "Today's data, coupled with signs of increasing distress for euro-zone companies, point to risks of a deeper-than-expected recession...the ECB should reconsider its wait-and-see approach and act on its policy mix some time soon," it added. Still, the index was supported by strength in basic resources, with the Stoxx Europe 600 index for the sector up 1.3% amid rising metals prices. At 1028 GMT Germany's DAX was 0.5% higher at 6281.44, and France's CAC-40 index was flat at 3065.34.

At 1030 GMT London's FTSE 100 traded up 0.8% at 5534.54. A fall in CPI prompted investors to speculate that the Bank of England may be looking at further quantitative easing. Meanwhile, Whitbread still looked strong, up 6.3% following well-received results while mid-cap stock Home Retail soared 27% as its first quarter was better than expected, particularly at Argos. On the downside, Unilever was off 2.4%, after peer Danone cut its 2012 operating margin target. The focus remains on the Greek coalition government negotiations, now in their second day, as well as the upcoming Fed FOMC meeting which starts Tuesday, said IG Index.


FOREX:
The euro trades up despite the fact that much of the session's news was been downbeat. The German ZEW sentiment slumped to a 14-year low, the Spanish T-bill auction proved very expensive, and Spain also announced it is delaying the more-detailed banking audit until September. Despite all this peripheral yields were trading off their session highs and equity markets were largely holding a small bid tone. Elsewhere the U.K. May rate of inflation fell to 2.8% from 3% in April. Sterling dipped sharply on thoughts on more QE and possible BOE rate cuts, but much like the euro the pound proved fairly bullet-proof and recovered soon after.

At 1028 GMT, the euro was up at $1.2648, the dollar was down at Y78.92 and the pound was flat at $1.5665. September bunds were 0.56 lower at 142.08, while September gilts were up 0.13 at 119.74.


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TOP STORIES:

Spain Delaying Full Bank Audit to September

The deadline for a group of auditors to present full reports on the capital needs of Spain's financial sector has been delayed to September from July 31, a Spanish central bank source says.

German Economic Expectations Fall Again

German economic expectations fall at the fastest rate in more than a decade, reflecting the view that Greek repeat parliamentary elections only provide a brief respite and that the situation in the euro zone is "still precarious," ZEW says.

Greek Parties Continue Talks On Forming Coalition

Greece's two leading pro-bailout parties are continuing efforts to secure support from a small leftist party to form a broad coalition government in order to proceed quickly with tough necessary reforms.

UK Inflation Rate Slows

Annual inflation in the U.K. slows in May to its lowest level in more than two years, official data shows, strengthening expectations that the Bank of England will soon embark on a fresh round of stimulus.

OTHER NEWS:

Grim Outlook for European Firms if Recession Worse Than Expected

The default rate for junk-grade European firms could almost double over the coming year if the recession is deeper than expected, S&P says, adding that its base case is for a fairly mild and brief recession in the euro zone.

Euro-Zone Construction Output Falls

Euro-zone construction output falls in April, the latest indication that the currency area's economy will struggle to grow in second quarter, having stagnated in the first.

Whitbread Has No Plans to Spin Off Costa Coffee

U.K.-based hotel and restaurant group Whitbread says it has no plans to spin off Costa Coffee, even as the star-performing coffee chain continues to power ahead with double-digit sales growth.

Danone Warns on Targets

Danone issues a profit warning, citing a drop in consumption in southern Europe, especially Spain, in the past few months and higher raw material prices, sending its shares sharply lower.

Julius Baer, BofA in Wealth Unit Talks

Julius Baer says it is in talks to buy Bank of America's Merrill Lynch international wealth management business, a move that may help reduce the private bank's dependence on its home market where margins have been squeezed .

London's Status as Global Financial Center Under Threat

London's position as a global financial center is under threat because the U.K. financial sector is not rethinking its business models quickly enough, Hector Sants, head of the financial regulator, tells the Financial Times

Les principaux partis de Grèce, pro-austérité, semblaient s'être engagés lundi soir sur la voie d'une alliance qui leur donnerait la majorité nécessaire pour mener les réformes prévues, mais paraissent avoir des difficultés à obtenir le soutien d'autres groupes parlementaires pour former un vaste gouvernement de coalition.

La chancelière allemande, Angela Merkel, a appelé le prochain gouvernement grec à respecter ses engagements et a écarté toute possibilité de modifier le plan de sauvetage du pays, alors qu'Athènes s'apprête à solliciter un délai supplémentaire pour ses coupes budgétaires.

La Grèce n'a pas beaucoup de temps pour mettre en oeuvre ses réformes et prouver à ses créanciers qu'elle est déterminée à mener son programme d'austérité, a déclaré lundi soir Ewald Nowotny, membre du conseil des gouverneurs de la Banque centrale européenne.

Le parti de droite, Nouvelle Démocratie, et son partenaire socialiste, le Pasok, travaillent à une proposition visant à demander aux autres pays de la zone euro un délai supplémentaire de deux ans pour atteindre les objectifs budgétaires qui ont été imposés au pays, ont indiqué des responsables impliqués dans ces préparations. Cette demande signifierait qu'en sus des 173 milliards d'euros du second plan de sauvetage, la Grèce aurait besoin d'une enveloppe de 16 milliards d'euros, ont-ils expliqué.

Les investisseurs espèrent par ailleurs que les banques centrales prendront des mesures pour renforcer l'intégration budgétaire de l'Union européenne, notamment avec des euro-obligations et une union bancaire, indique Richard Perry, stratégiste chez Central Markets.

Jörg Asmussen, membre du directoire de la BCE, a néanmoins affirmé lundi que la banque centrale ne pouvait pas recapitaliser les banques ni se substituer aux gouvernements en matière de réformes structurelles et de consolidation budgétaire.

Les contrats à terme de Wall Street évoluent sur une note contrastée mardi. Les bons résultats publiés par Oracle apportent un certain soutien, mais les marchés ont oscillé lundi entre territoires négatif et positif sur fond de hausse record des coûts d'emprunt de l'Espagne.

Les acteurs du marché notent que l'espoir de nouvelles mesures de relance au niveau mondial a limité les pertes.

Les marchés asiatiques s'inscrivent en baisse mardi, alors que les investisseurs reportent leur attention sur les problèmes de l'Espagne, balayant l'optimisme observé lundi à l'issue des élections en Grèce.

 

CHANGES

L'euro est en hausse mardi face au dollar après la victoire de la droite lors des élections législatives qui se sont tenues dimanche en Grèce, mais les investisseurs s'inquiètent des négociations en cours à Athènes pour la formation d'un gouvernement de coalition et des difficultés économiques d'autres pays européens.

La banque centrale espagnole a indiqué que les créances douteuses détenues par les banques du pays avaient atteint en avril leur plus haut niveau en 18 ans, ce qui a conduit les investisseurs à se demander si l'aide de 100 milliards d'euros accordée par l'Union européenne pour renflouer les banques suffirait à stabiliser le système financier.

"Le marché reste très pessimiste vis-à-vis de l'Europe", indique Michael Woolfolk, stratégiste senior pour les changes chez Bank of New York Mellon.

Chris Walker, stratégiste chez UBS, note que l'un des éléments susceptibles de modifier la donne serait que le Sommet européen des 28-29 juin aboutisse à un partage des risques plus important et plus explicite entre les pays les plus solides de la zone euro et les pays périphériques.

les INDICES à 14h23

BEL 20 * 2125.19 14.60 0.69 %  
AEX * 298.63 1.62 0.55 %  
CAC 40 * 3081.61 15.42 0.50 %  
Euronext 100 * 589.51 2.08 0.35 %  
Next 150 * 1289.70 8.39 0.65 %  
DAX 6282.70 34.50 0.55 %  
FTSE MIB 13225.02 215.39 1.66 %  
IBEX 35 11070.80 23.00 0.21 %  
SMI 5990.61 51.85 0.87 %  
SLI 893.87 9.03 1.02 %  
SPI 5569.21 43.82 0.79 %  
FTSE 100 5546.23 55.14 1.00 %  
Dow Jones * 12741.82 -25.35 -0.20 %  
Nasdaq 100 2592.52 0.00 0.00 %  
Nasdaq 2895.33 0.00 0.00 %  
OMX Nordic 40 918.49 8.55 0.94 %  
OMX Helsinki 25 1848.08 22.20 1.22 %  
OMX Stockholm 30 991.20 10.15 1.03 %  
OMX Copenhagen 20 435.18 2.20 0.51 %  

 

 

     
 bon après-midi....Claude.



14:26 Écrit par swingteam-cc | Lien permanent | Commentaires (0) |  Facebook |

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