News & Financial Advice

Wall Street opened sharply higher Friday in reaction to the publication of monthly U.S. employment considered reassuring.

A few minutes after the start of trading, the Dow Jones gained 1.18% to 10,441.65 points, the Standard & Poor's 500 index 1.31% to 1104.36 points and the Nasdaq Composite 2234.05 1.55% points.

The Dow 30 stocks were in green.

The U.S. economy still has destroyed jobs in August for the third consecutive month, but significantly less than expected, and the private sector has created more jobs than expected.

The markets will also monitor closely the figure of the ISM index of activity in the services sector at 14:00 GMT.

Home Depot, the world of DIY and interior design, gained 2.44%, boosting its progression before, which had already ranked at the top of the largest increases in the Dow.

On the Nasdaq, as Take-Two Interactive jumped to 15.71% after the publication of quarterly results better than expected and the recovery of group forecasts.

Nippon Steel, the fourth largest producer of steel, has experienced an improvement in its results for the fifth consecutive quarter, but reported lower than expected given the market slowdown in growth in China.

The Japanese group has announced a recurring earnings, before taxes and exceptional items, of 61.9 billion yen (541 million euros) for the period April to June, against a loss of 56.7 billion yen a year earlier .

Its sales jumped 30% to 970.6 billion yen.

The steelmaker Nippon nevertheless intends to realize an annual profit of 250 billion yen, while the Thomson Reuters consensus I / B / E / S expects 316 billion yen.

Nippon Steel and ArcelorMittal joins said he expects a sharp drop in its third quarter results, in the grip of a slowdown in economic growth in China, a seasonal decline in activity and an increase prices of raw materials.

The sharp drop in prices in China have led steelmakers to cut production and the market could find itself in a situation of excess supply even while Beijing hardened its policy and reduced exports.

The Japanese group also announced Wednesday it would form a technical alliance with Australian BlueScope Steel for reinforced steel products for construction markets to boost sales abroad.

After the results, the title of Nippon Steel closed up 3.73%, to 306 yen.

The Spanish bank Banesto publishes an interim result down 6.8% due to the recognition of a higher amount of provisions for bad debts, which impacted the margins of the establishment.

The Spanish bank has registered a net profit of 381.7 million euros, while analysts polled by Reuters had expected 376 million euros.

Banesto, majority owned by Spanish bank Santander and the first to publish its interim results, said it recorded $ 85 million of exceptional provisions.

The ratio of Banesto related bad loans to total loans stood at 3.48% against 3.12% at end-March, while analysts at Citi said they expect that this ratio reaches a peak during the year 2011.

The net interest income, or about what a bank earns on loans decreased costs related to its deposit, rose 0.5% to 863.6 million euros against 855 million expected by analysts.

Around 7:15 GMT, gaining 0.8%, while the Stoxx index comprising the major European banking stocks was virtually unchanged at the same moment (-0.05%).

The NYSE closed up 0.18% Monday, the Dow Jones 30 Industrial 18.24 points to 10,216.27 winner.

The S & P 500 is broader, took 0.77 points, or 0.07%, to 1078.73. The Nasdaq Composite fell on his side of 1.91 point (0.09%) to 2198.36.

These data are likely to vary even slightly.

European stock markets were down in mid-day, posting the seventh decline in eight sessions after the publication of indicators Chinese fuel fears about the state of the global economy.

For this first session running at a disastrous quarter for equity markets, the pan-European FTSEurofirst 300 index lost 1.19% to 10:45 GMT at 981.69, after touching a low of three weeks.

The Euro Stoxx 50 index of leading industrial stocks in the euro zone, meanwhile shrank by 1.1% to 2544.97 to go below the key level of 38% retracement of the rise between the lowest March 2009 and peak in January compared to the historic low of March 2009, raising fears that its decline is far from complete.

The next level of support is the lowest in 2010 at 2448.10, touched in May

On Wall Street, the S & P 500 fell on Wednesday under the 1040 he managed to maintain since February, falling firmly in a downtrend, which could lead to a sharp fall in the months ahead.

Indicators have shown that the growth of China's manufacturing sector slowed in June in response to efforts by Beijing to curb the expansion of housing and contain the increase in funding.

"The Asian growth has been the engine of the global economy, so if China loses its speed, it will not go well," said Jacques Henry, analyst at Louis Capital Markets.

"With very dull statistics from the U.S., there is growing nervousness over a new recession."

SLOWDOWN IN CHINA AND INDIA

The Chinese official PMI stood at 52.1 in June against 53.9 in MayThis is the lowest figure since February and is well below the expected figure of 53.1 on average by ten analysts polled by Reuters.

A similar survey conducted by HSBC for its shows a sharper decline to 50.4 last month against 52.7 in May

In India too, the growth of manufacturing activity slowed in June due to a deceleration in the rate of increase in production and new orders slightly lower than in May.

PMI Purchasing Managers HSBC, drawn on a survey of 500 companies fell to 57.3 in June against 59.0 in May, the level that had constituted a high of more than two years.

Very sensitive to changes in the Chinese economy, mining stocks are affected. Xstrata lost 2.67%, BHP was down 1.62% and Rio Tinto fell back to 0.88%.

The banking situation is more delicate approach to the recovery of around 500 billion euros at the European Central Bank.Credit Agricole fell 2.33%, 2.23% and BBVA Banco Popolare 0.66%.

Barclays accused it for an even more marked decline after announcing that business conditions in the segment of the investment bank had deteriorated over the last two months.

Adding to the gloom, the French manufacturing PMI came to show that growth in the French manufacturing industry slowed in June for the second consecutive month in France and the sector has continued to destroy jobs, according to PMI survey published Thursday by the Institute Markit Economics.

The German situation is rather less alarming because the industry has finally emerged while a stable flash estimate predicted a slowdown.

Japanese stocks ended down Tuesday on profit-taking, the euphoria at the European level stabilization dissipating rapidly.

The Nikkei lost 1.14% or 119.60 points to 10,411.10 points and the broader TOPIX, yielded 1.33% or 12.54 points to 932.10 points.

Mizuho Financial has finished in fall of 4.68% to 163 yen on expectations of capital increase.

Sumitomo Mitsui Financial Group lost 3.63% to 2,815 yen, its affiliate that specializes in consumer credit Promise tumbled 17.38% to 713 yen after providing it might be lost.

Toyota Motor ended down 0.7% to 3495 yen, before the publication of its results just after the closing.

The food group Ajinomoto forsaken 3.65% to 818 yen.The company said its operating profit to 57 billion yen this year, down 11% from the previous year and below the consensus of 66.4 billion yen Thomson Reuters I / B / IO