LONDON (Thomson Financial) - U.S. SUMMARY: Shares, dollar rise
Index Change Percent change
*DJIA 12898.38 +66.20 +0.51
*Nasdaq 2496.70 +1.58 +0.06
*S&P 500 1408.66 +5.62 +0.40
Nymex crude
for June $124.22 -1.58 dollars
10 year U.S.
treasury 3.92 percent
* Wednesday's close
STOCKS: Wall Street advanced Wednesday after a better-than-expected report
on consumer prices tempered some of the market's concerns about inflation.
The Labor Department's report that consumer prices advanced 0.2 percent in
April after rising 0.3 percent in March seemed to alleviate investors' worries
that the recent surge in energy costs would force prices throughout the economy
to spike higher. The moderation in prices comes despite the largest jump in food
prices in 18 years.
BONDS: Treasury prices traded mixed Wednesday, after investors briefly
rallied on a report showing mild April inflation but then gave up gains as
stocks advanced.
Additionally, the Federal Reserve's Wednesday sale of $2.5 billion in issues
maturing from late 2013 to early 2015 dampened prices by flooding the market
with more supply.
The benchmark 10-year Treasury note fell 2/32 to 99 20/32 and yielded 3.92
percent, up from 3.91 percent late Tuesday.
FOREX: The dollar rose against most of the other major currencies Wednesday
as new data showed lower-than-expected U.S. inflation in April.
In late New York trading, the 15-nation euro fell to $1.5461 from $1.5480
late Tuesday.
The British pound declined to $1.9441 from $1.9459.
The dollar surged to 106.38 Japanese yen from 105.26 yen, and rose to 1.0567
Swiss francs from 1.0528 francs.
OIL: In energy futures, crude oil fell after an Energy Department report
offered a mixed view of U.S. petroleum reserves.
Light, sweet crude for June delivery fell $1.58 to settle at $124.22 a
barrel on the New York Mercantile Exchange after the EIA report said crude
inventories rose by 200,000 barrels last week, less than the expected 2.5
million barrel increase.
Other energy futures also traded lower Wednesday. June gasoline futures fell
1.96 cents to settle at $3.1804 a gallon on the Nymex, while June heating oil
futures fell 8.11 cents to settle at $3.6178 a gallon.
METALS: In precious metals, gold futures extended their losses after the
dollar ticked higher against the euro, diminishing the appeal of precious metals
as an inflation hedge.
Gold for June delivery lost $3.10 to settle at $866.50 an ounce on the Nymex
after earlier falling as low as $860.
Other precious metals also traded lower. July silver dropped 21.5 cents to
settle at $16.613 an ounce, while July copper shed 5.05 cents to settle at
$3.681 an ounce.
EVENTS:
Initial weekly jobless claims
May Empire State manufacturing survey
Industrial Production and Capacity Utilization
Fed Chairman Bernanke speaks on risk management at banks, at annual Chicago
Fed conference, in Chicago
Q1 retail e-commerce sales
May Philadelphia Fed Survey
April NY employment and unemployment
Autodesk Inc. Q1 results. EPS forecast $0.48 versus $0.44
BMC Software Inc. Q4 results. EPS forecast $0.51 versus $0.40
Compuware Corp. Q4 results. EPS forecast $0.21 versus $0.21
Hewlett Packard Co. Q2 results. EPS forecast $0.84 versus 0.70
Kohls Corp. Q1 results. EPS forecast $0.62 versus $0.48
Nordstrom Inc. Q1 results. EPS forecast $0.57 versus $0.48
JC Penney Inc. Q1 results. EPS forecast $1.03 versus $0.90
ASIA SUMMARY: Stocks mostly higher; U.S. dollar up
Index Change Percent change
Nikkei 225 14,297.29 +178.74 +1.27 (0434 GMT)
S&P/ASX 200 5,887.10 +14.40 +0.25 (0434 GMT)
Straits Times 3,221.19 +23.47 +0.70 (0205 GMT)
Hang Seng 25,387.35 -146.13 -0.57 (0434 GMT)
Seoul Composite 1,876.75 +33.00 +1.79 (0433 GMT)
BSE Sensex 17,110.16 +131.81 +0.78 (0435 GMT)
usd-yen 105.05 -0.18 -0.17 (Intra-day)
10-year JGBs 1.705 percent +0.035 +2.10 (Intra-day)
Brent North Sea $121.55 -0.31 -0.25 (Intra-day)
crude for June
STOCKS: Asian stocks were mostly higher, tracking gains on Wall Street
overnight after U.S. consumer prices rose less than forecast and oil prices
eased, soothing worries about inflation.
BONDS: Japanese government bonds ended morning lower, continuing the
declines seen Wednesday when bonds plunged on fears about rising inflation and
amid fading appetite for low-risk instruments recently.
FOREX: The U.S. dollar was trading higher against major currencies at
midmorning in Sydney, supported by a growing view that recent moves to stimulate
the U.S. economy have worked. Meanwhile, improving sentiment towards the U.S.
economy is
putting the Australian dollar under pressure. U.S. dollar strength has seen the
unwinding of long positions in the
high-yielding currency.
OIL: World oil prices continued lower in Asian trade, after an unexpectedly
low rise in United States crude stocks. New
York's main oil futures contract, light sweet
crude for June delivery, dropped
43 cents to $123.79 per barrel. The benchmark
contract had closed down $1.58 at $124.22 a
barrel on Wednesday at the New York
Mercantile Exchange.
METALS: Gold moved lower on Wednesday after the dollar maintained its firmer
tone, diminishing the precious metal's
appeal as an alternative to the U.S. currency. Other
precious metals also
declined in line with gold. Copper fell to a
seven-week low in Wednesday afternoon trade,
reflecting weakness across the base
metals, as the firmer dollar continued to trigger bouts of long liquidation.
Other base metals were mixed yesterday.
EVENTS:
Singapore March retail sales
Reserve Bank of Australia governor Glenn Stevens delivers address at
University of Sydney
Coca-Cola Amatil AGM
Corporate Express Australia AGM
EUROPE SUMMARY: London shares close flat; oil down
Index Change Percent change
*FTSE 6215.99 +4.41 +0.06
*DAX 7083.24 +23.05 +0.32
*CAC 5055.24 +56.57 +1.13
pound-dollar 1.9423 -0.0045
euro-dollar 1.5440 -0.0023
Brent
crude(June) $122.50 -$1.60 (1454 GMT)
*Wednesday's close
STOCKS: Leading shares closed flat on Wednesday, as solid trade on Wall
Street after below-forecast inflation figures and buoyant UK mining shares amid
sector consolidation hopes offset weak banking stocks following Bradford &
Bingley's rights issue.
Meanwhile, BT Group Plc. is expected to report flat fourth-quarter revenues
Thursday, with a continued decline in wholesale revenue but further improvement
in margins at its global services division, which supplies network and IT
services.
SABMiller Plc. is expected to report robust top-line sales when it reports
full-year results on Thursday, with price increases and mix improvements
offsetting higher input costs.
Vedanta Resources Plc. is expected to post higher full-year EBITDA as an
increase in production from most of its key divisions more than offsets mixed
metal prices and higher costs.
FOREX: The pound fell as the Bank of England signalled worrying times for
the UK economy lie ahead, with inflation set to soar while growth slows.
Elsewhere the euro recovered against the dollar, following slightly better
than expected euro zone industrial production figures and a technical correction
following strong gains for the dollar overnight after robust U.S. retail sales
figures.
BONDS: European government bonds were sharply lower, with the front end
suffering deep falls, as concerns about rising inflation dominated.
Over in the United Kingdom, gilts continued to be weighed down by Tuesday's
news that headline inflation hit 3.0 percent in April.
OIL: Oil fell after U.S. distillate inventories, including heating oil, rose
above expectations and crude stocks in the world's
top consumer grew last week.
METALS: Gold eased lower after the dollar maintained its firmer tone,
diminishing the precious metal's appeal as an
alternative to the U.S. currency. At 1210 GMT, spot gold was trading at $866.33
per ounce against $869.50.
Among other precious metals, silver eased in line with gold to trade at
$16.76 an ounce against $16.79. Platinum dipped to $2,027 an ounce from $2,049,
while its sister metal palladium was trading at $428.00 against $435.00.
EVENTS:
UNITED KINGDOM
INTERIMS
Atlas Estates (Q1)
Thomas Cook Group (5 mths)
Euromoney Institutional Investors
Freshwater UK
Holidaybreak
FINALS
3i Group
Blinkx
BT Group (Q4)
Findel
First Derivatives
Investec
Invensys (Q4)
National Grid
Phoenix IT Group
SABMiller
Vedanta Resources
AGMs
Balfour Beatty
Brit Insurance
Cookson Group
CSR
Emerald Energy
Ferrexpo
Hikma Pharmaceuticals
Inchcape
Informa
ITV
Marshalls
New Star Asset Management Group
Paddy Power
Partygaming
Red Dragon
Shanta Gold
Stem Cell Sciences
Telecity
Telspec
Tullett Prebon
Unite Group
Uniq
Yule Catto
SPECIAL MEETING
AOI Medical
TRADING STATEMENTS
Barclays (Q1)
Henderson Group
Paddy Power
Prostrakan Group
Tullett Prebon
OTHER
DSG International business review
ECONOMICS
UK Q1 insolvency petitions data (0930 BST)
AUSTRIA
Austria March CPI (0800 GMT)
Bwin Q1 results
Flughafen Wien Q1 results
Mayr-Melnhof Karton Q1 results
BENELUX
Dutch April CPI
Dutch Q1 GDP
Heijmans Q1 trading statement (before market opens)
KBC Q1 results (0500 GMT). Conference call (0830 GMT). Underlying profit
forecast 593-704 million euros versus 781 million
UCB Q1 results (0500 GMT)
Cofinimmo Q1 results (1540 GMT)
Boskalis AGM
Unilever AGM
SBM Offshore AGM
EVS Q1 results (before market opens)
Innogenetics Q1 results (after market close)
EASTERN EUROPE
Czech preliminary Q1 GDP (0700 GMT)
Slovak preliminary Q1 GDP (0700 GMT)
Slovak April HICP (0700 GMT)
Czech March current account balance data (0800 GMT)
Hungary Q1 preliminary GDP
Hungary final March industrial production
Polish March currrent account
Asseco news conference (1200 GMT)
OTP Bank Q1 results. Net income forecast 54.4 billion forint versus 50.4
billion
MOL Q1 results. Net income forecast 60.5 billion forint; up unadjusted 1.9
percent
Evraz management statement
Netia Q1 results
ZCh Police Q1 results
Zaklady Chemiczne Q1 results
Agora Q1 results. Net profit forecast 33 million zlotys versus 14.3 million
Bioton Q1 results
Grupa Lotos O1 results
Cersanit Q1 results. Net profit forecast 27.8 million zlotys versus 28.9
million
Ciech Q1 results
Danubius Q1 results
TVK Q1 results
Synergon Q1 results
Getin Bank Q1 results
PKN Orlen Q1 results
Polnord Q1 results
CEZ Q1 results. Net profit forecast, after minority interests at 14.86
billion crowns, versus 12.68 billion
Unipetrol Q1 results. Net profit forecast 653.6 million crowns versus 1.56
billion
EUROPEAN UNION/EURO ZONE
ECB monthly bulletin (0800 GMT)
Euro zone April HICP (0900 GMT)
Euro zone Q1 provisional GDP (0900 GMT)
EU court opinion on sodium gluconate cartel (0730 GMT)
Trichet speech in Vienna (1140 GMT)
ECB's Papademos addresses Brussels economic forum (1310 GMT)
EU's Regling addresses Brussels economic forum (1315 GMT)
EPC briefing on energising Russia, connecting Europe (1400-1600 GMT)
EU rules on proposed acquisition by EADS, Sita France for joint contol of
TARMAC Aerosave
EU rules on proposed acquisition by ArcelorMittal of 50 pct stake in
Gonvarri Brasil
EU rules on proposed acquisition by Samsung Electronics of Samsung techwin
units
EU rules on proposed acquisition by Barclays private equity unit of CID
Netherlands' Bos, Spain's Solbes address Brussels economic forum (0800 GMT)
Eurogroup's Juncker addresses Brussels economic forum (0940 GMT)
IMF's Strauss-Kahn addresses Brussels economic forum (1240 GMT)
ECB's Papademos address Brussels economic forum (1310 GMT)
EU's Regling addresses Brussels economic forum (1515 GMT)
FRANCE
Q1 GDP (1st estimate) (0650 GMT)
Credit Agricole Q1 results (0500 GMT)
Technip Q1 results (before market opens). Net profit forecast 75.4 million
euros versus 68.1 million; operating 123.2 million euros versus 107.9 million;
sales 1.969 billion euros versus 1.775 billion euros
LVMH AGM
Ipsos Q1 sales
Euler Hermes Q1 sales
Eutelsat Q1 sales
Poweo Q1 sales. Forecast 134 million euros, up 56 percent
Rexel Q1 results (before market opens)
Thales AGM
Vinci AGM
GERMANY
Fraport April traffic figures (0500 GMT)
Q1 GDP growth (0600 GMT)
April final CPI, HICP (0600 GMT)
RWE Q1 results. Operating profit forecast 2.66 billion euros, down 5.5 pct
Salzgitter Q1 results
Commerzbank AGM
Hochtief Q1 results, analyst and investor conference
Norddeutsche Affinerie Q2 results
Deutsche Telekom AGM
Arcandor Q2 results
TUI Q1 results
Premiere Q1 results
Daimler CFO media briefing
GREECE
Metka AGM
Marfin Popular Bank Public Company Ltd AGM
Blue Star AGM
ITALY
BMPS Q1 (0530 GMT). Gross operating profit forecast 477 million to 618
million euros versus 529 million; total revenue 1.160 billion to 1.334 billion
euros versus 1.213 billion
ERG 2008-2011 business plan
Banco Popolare Q1 results. Operating profit forecast 399 million euro versus
512 million ; net profit 164 million euro versus 283.5 million; total revenue
1.016 billion euros versus pro forma 1.114 billion
Bulgari Q1 results. Net profit forecast 23.9 million euros versus 23.9
million
Credem Q1 results
Iride Q1 results
PORTUGAL
April CPI (INE)
Q1 preliminary GDP (INE)
Martifer Q1 results
Sonae Capital Q1 results (after market close)
SCANDINAVIA
Finnish March GDP (O600 GMT)
Finnish March current account balance (0700 GMT)
Norway April external trade data
H&M April sales (0600 GMT)
Ericsson capital markets day, Stockholm
Lundin Mining Q1 results
Prosafe Q1 results. Pretax profit forecast $45 million versus $21 million;
sales $153 million versus 88 million
Ekornes Q1 results
Electromagnetic Geoservices Q1 results
SPAIN
Madrid public holiday. Financial markets open
Corp Dermoestetica Q1 results
SWITZERLAND
Swiss govt April consumer sentiment (0545 GMT)
Zurich Financial Q1 results (0445 GMT). Net profit forecast $1.242 billion
versus 1.387 billion
SNB board member Thomas Jordan speaks in Zofingen, Switzerland
TFN.newsdesk@thomsonreuters.com
ami/ndi/ypv
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