Global Market Review
Authorized & Subscribed Capital LL 2,000,000,000 Fully Paid
CR/68325 Central Bank Register 13
Bldg 229, Foch Str Riad El-Solh, Beirut Central District
Wednesday, May 08, 2013
prepared by the Research Department
For Further Info please contact GFIC’s Capital Markets Division at: +961 1 985236-7-8 or visit our website: www.gf-ic.com
Global Equity Indices
Index
Closing
DJIA
Spot Rates - Major Currencies & Crosses
7-May
%Change*
Pair
Closing
%Change*
7-May
Hi-Lo 11am
1.3120-073
15,056.20
1,625.96
0.58%
EURUSD
1.3077
0.02%
0.52%
GBPUSD
1.5484
-0.37%
1.5491-72
3,396.63
0.11%
USDJPY
99.00
-0.33%
99.15-8.66
56,274.66
1.52%
USDCHF
0.9403
0.22%
0.9411-377
14,180.24
3.55%
AUDUSD
1.0181
-0.66%
1.0203-157
EURO Stoxx 50
2,769.08
0.67%
USDCAD
1.0042
-0.25%
1.0055-42
Xetra DAX
8,181.78
0.86%
NZDUSD
0.8456
-0.66%
0.8464-362
CAC 40
3,921.32
0.37%
EURGBP
0.8445
0.42%
0.8472-44
FTSE
6,557.30
0.55%
EURAUD
1.2840
0.74%
1.2873-36
82.25
18.19
-0.08%
EURCHF
1.2296
0.23%
1.2315-295
-1.03%
EURJPY
129.47
-0.31%
129.80-03
Closing
7-May
%Change*
-0.38%
S&P 500
NASDAQ Comp
BOVESPA
Nikkei 225
DXY [US Dollar Index]
VXX [Implied Vol. SP500]
GCC - Regional Markets
Beirut Stock Exchange
Closing
7-May
%Change*
KSA [TASI]
7,182.48
-0.09%
Solidere A
13.08
Dubai [DFMGI]
2,149.73
0.01%
Solidere B
13.08
1.00%
Abu Dhabi [ADI]
3,339.86
0.64%
Bank Audi
6.68
-0.30%
Kuwait [KWSE]
7,774.05
0.75%
Bank of Beirut
19.00
0.00%
Bahrain [BAX]
1,120.13
0.64%
BLOM Bank
8.40
0.00%
Muscat [MSI]
Qatar [QSI]
6,191.47
8,845.65
0.06%
Byblos Bank
0.00%
0.13%
Holcim Liban
1.65
15.50
Index
closed today
Listed Shares [USD]
0.00%
*% Changes are calculated from closing price before last
Key Economic Data
Event
Currency
Time [LB]
Forecast
Previous
8-May
Impact
German Industrial Production m/m
EUR
13:00
-0.10%
0.50%
MEDIUM
Housing Starts
CAD
15:15
175K
181K
LOW
FOMC Member Stein Speaks
USD
15:30
-
-
MEDIUM
Crude Oil Inventories
USD
17:30
2.1M
6.7M
MEDIUM
10-y Bond Auction
USD
20:00
-
1.80\2.8
MEDIUM
Treasury Sec Lew Speaks
USD
21:00
-
-
MEDIUM
Notice: Neither GFIC S.A.L nor its directors or employees accept responsibility for any decisions or losses that may arise from the use of the above data
1 of 3
Authorized & Subscribed Capital LL 2,000,000,000 Fully Paid
CR/68325 Central Bank Register 13
Bldg 229, Foch Str Riad El-Solh, Beirut Central District
Global Market Review
Wednesday, May 08, 2013
prepared by the Research Department
For Further Info please contact GFIC’s Capital Markets Division at: +961 1 985236-7-8 or visit our website: www.gf-ic.com
Critical Points for Future Contracts
Prev. Cls Trend
Contract
JUN GBP
JUN CAD
7-May
15484 up
15747
9946 up
9940
JUN EUR
13088 sdwys
-
JUN JPY
10106 sdwys/down
-
JUN CHF
10643 sdwys/down
-
JUN AUD
10155 sdwys/down
10140 ACHD
JUN USD
82335 sdwys/down
8083?
JUN T-BONDS
14608 sdwys/up
15012
JUN MINI S&P
JUN MINI DJ
JUN MIN NASDAQ
JUL COPPER
JUN GOLD
JUL SILVER
JUN CRUDE OIL
162050 up
Resistance Support
Objective
TRP
15546, 15600-11, 15747* 15440, 15365-48*
153.48
9952, 100+/- 9906, 9860-, 9789*
97.89
13166*, 13236, 13356* 13039, 13009, 12959-
131.66
10214*, 10310, 10350-65 10035-13, 9900
105.23
10698, 10712, 10736* 10597, 10560, 10500-
107.36
10288*, 10331, 10398* 10105-10038
103.98
8244, 8258*-82785* 8191, 81555-8148, 8083*
14629, 14716-19, 14812* 14611, 14601-14526*
145.26
1629, 1640-1649 1602-1599, 159050, 1585*
1620 ACHD
82.580
1565.25
14983 up
15400
15010?, None 14807, 14770, 14760*
146.30
294650 up
302000
295000+, 302000 290550-289725, 286450*
2812.75
32985 up
344
144880 sdwys/down
23806 sdwys/down
9562 sdwys/up
33375*-335, 344 32595-60, 324, 32235*
-
1478, 149710*-1505 1440-1438, 142330*
-
24345, 2455, 25415* 2337, 2310, 22535*
9637, 9655-9750 9480-76, 9422, 9280*
9750
315.85
1497.10
25.42
92.80
*TRP: Trend Reversal Point
Market News Highlights
8-May
↗Asian stocks advanced for a third day, with the regional benchmark index rising to a five-year high, as China’s exports topped estimates and companies including HSBC Holdings Plc
posted earnings that cheered investors. The MSCI Asia Pacific Index climbed 0.8 percent to 143.27 as of 3:31 p.m. in Tokyo, w ith all 10 industry groups rising. The measure increased 9.8
percent this year through yesterday amid speculation the Bank of Japan will deploy more measures to beat deflation as policy makers in the U.S. and Europe remain on standby to buoy
growth. -- “Markets are being driven by heightened stimulus,” said Matthew Sherwood, Sydney-based head of investment market research at Perpetual Ltd., which manages about $25
billion. “Economic data remains in the Goldilocks range -- weak enough to warrant continued stimulus, but strong enough to keep earnings expectations positive.” Japan’s Nikkei 225
climbed 0.7 percent. The broader Topix Index rose 0.5 percent to a 4 1/2 year high. The gauge has rallied 65 percent since mi d-November, making it the world’s best-performing major
stock index.
↗European stock futures were little changed, after the Stoxx Europe 600 Index rose to its highest since June 2008, as companies from ING Groe p NV to Telefonica SA posted quarterly
earnings. U.S. index futures were also little changed, while Asian shares gained. ING may rise as first -quarter net income beat projections. EON SE may gain as it posted first-quarter profit
that exceeded analysts’ predictions and reiterated its 2013 earnings targets. Delhaize Group SA may advance after saying its chief executive officer will step down by the end of this year.
Telefonica may drop after Spain’s largest phone company reported earnings that fell short of analysts’ estimates. Futures on the Euro Stoxx 50 Index, a benchmark for the euro area, added
less than 0.1 percent to 2,735 at 7:42 a.m. in London. The Stoxx Europe 600 Index rose yesterday to its highest level since J une 2008 amid better-than-expected corporate earnings, while
the Dow Jones Industrial Average closed above 15,000 for the first time. Futures on the U.K.’s FTSE 100 Index climbed 0.2 per cent. Contracts on the Standard & Poor’s 500 Index fell 0.1
percent, while the MSCI Asia Pacific Index surged 0.9 percent. -- “A strong finish in the U.S. and a surge in Chinese trade growth is likely to keep the bulls ticking over,” Jonathan Sudaria,
a trader at Capital Spreads in London, wrote in a note. “Unlike previous rallies to all -time highs, the bulls still appear a long way off from irrational exuberance. Whilst overt bullishness
marked the top in 2007, the lack of it in 2013 may point towards higher prices.”
↗Emerging-market stocks rose for a fourth day, with the benchmark index erasing this year’s decline, as Chinese trade data topped estimates and techn ology shares advanced. The
MSCI Emerging Markets Index added 0.4 percent to 1,056.55 at 12:20 a.m. in Hong Kong, poised for its highest close since Marc h 12. Ten-day volatility for the gauge fell to a one-month
low. The gauge rose for a fourth day on optimism central banks will continue policies to revive economic growth, boosting inv estor appetite for emerging-market assets. China’s export
growth unexpectedly accelerated in April even as shipments to the U.S. and Europe fell, spurring renewed skepticism of data unde r investigation by the government. Taiwan’s Taiex Index
jumped 1 percent, heading for its highest close since August 2011, with volume on the gauge 29 percent above the 30 -day average for this time of the day, data compiled by Bloomberg
show.
↗West Texas Intermediate crude fluctuated after the first drop in four days as industry data showed U.S. supplies climbed for a second week, countering an i ncrease in Chinese demand.
Crude inventories increased 680,000 baweek, the American Petroleum Institute said yesterday. An Energy Information Administra tion report today may show stockpiles gained 2 million
barrels, rising from the most in more than 82 years, according to a Bloomberg News survey. The EIA cut its forecasts for WTI and Brent crude on increasing supplies and lower global
consumption. China’s crude imports advanced to a three-month high. -- “The outlook is going to remain muted for the U.S. for consumption of oil,” said David Lennox, an analyst at Fat
Prophets in Sydney. “There is also U.S. domestic supply, which continues to grow.” WTI for June delivery was at $95.92 a barr el, up 30 cents, in electronic trading on the New York
Mercantile Exchange at 2:49 p.m. Singapore time. The volume of all contracts traded was 29 percent below the 100 -day average. Futures lost 54 cents to $95.62 yesterday, the lowest
close since May 3.
↗Gold swung between gains and losses as investors weighed a drop in assets in the SPDR Gold Trust to the lowest level in four years with rising physical demand in India and China, the
world’s biggest buyers. Gold tumbled 13 percent this year as equities rallied and some investors lost faith in the metal as a store of value. The S&P 500 Index closed at a record for a fourth
straight day yesterday, while the DJIA closed above 15,000 for the first time. Holdings in the SPDR Gold Trust, the biggest b ullion-backed exchange-traded product, fell 0.4 percent to
1,057.79 metric tons yesterday, the lowest level since March 2009, according to data compiled by Bloomberg. -- “Every time we see the U.S. equity market surge, we see a commensurate
Source: Bloomberg News
Notice: Neither GFIC S.A.L nor its directors or employees accept responsibility for any decisions or losses that may arise from the use of the above data
2 of 3
Global Market Review
Authorized & Subscribed Capital LL 2,000,000,000 Fully Paid
CR/68325 Central Bank Register 13
Bldg 229, Foch Str Riad El-Solh, Beirut Central District
Wednesday, May 08, 2013
prepared by the Research Department
For Further Info please contact GFIC’s Capital Markets Division at: +961 1 985236-7-8 or visit our website: www.gf-ic.com
Highlighted Earnings Releases
Company
Highlighted Dividends - Ex-Date
Company
Amount
8-May
Payable
$0.37
Wal-Mart Stores Inc [WMT]
$0.470
3-Jun
$0.68
$0.68
Wal-Mart Stores Inc [WMT.BA]
$0.157
3-Jun
CF Industries Holdings Inc [CF]
$0.21
-$0.20
Bristol-Myers Squibb Co [BMY PR]
$0.500
3-Jun
Cognizant Technology Solutions Corp [CTSH]
$0.93
$0.81
Altera Corp [ALTR]
$0.100
3-Jun
Monster Beverage Corp [MNST]
$0.46
$0.41
Boeing Co [BAB.BR]
$0.485
12-Jun
-$0.27
-$0.36
Boeing Co [BA]
$0.485
7-Jun
7-May
↗
0.52%
S&P 500 Bottom Performers - Last U.S. Trading Session
S&P 500 INDEX
1,625.96
Company
Last
0.52%
Company
1,625.96
Last
FOSSIL INC
$107.88
9.01%
FIRST SOLAR
$43.47
8.85%
EOG RESOURCES
$135.69
7.66%
CHIPOTLE MX GRL
$361.09
3.45%
DIRECTV
$61.95
6.88%
J C PENNEY CO
$16.40
3.07%
ABERC FITCH A
$52.07
6.33%
FRONTIER COMM
$3.97
2.93%
URBAN OUTFITTER
$43.66
4.83%
BAXTER INTL INC
$68.58
2.46%
HARLEY-DAVIDSON
$57.54
4.31%
GILEAD SCI
$53.13
2.39%
EPS est
8-May
Prev Actual
News Corp [NWSA]
$0.36
CenturyLink Inc [CTL ]
AcelRx Pharmaceuticals Inc [ACRX]
S&P 500 Top Performers - Last U.S. Trading Session
S&P 500 INDEX
%
Company News Highlights
7-May
↘
%
8-May
Reuters: Standard Chartered Plc said operating profit in the first quarter declined “slightly” as wholesale banking revenue fell, pushing down shares in the U.K.’s second- largest bank by
market value. Revenue grew from a year earlier as an increase in consumer banking income offset a “mid single digit” decrease in wholesale operations, the London-based company said in a
statement today, without giving specific figures. The shares fell 2 percent to HK$197 at 2:14 p.m. in Hong Kong, after advancing as much as 2.4 percent before the announcement. -“Stanchart will surely grow this year, but it remains to be seen whether they can achieve their double-digit targets,” said Sandy Mehta, chief executive officer of Value Investment Principals
Ltd. in Hong Kong, which doesn’t own shares in the lender. “The year is off to a slow start so some catch-up will be required.” Today’s decline in Standard Chartered shares compared with a
0.6 percent gain in Hong Kong’s benchmark Hang Seng Index. The lender is alone among Britain’s five biggest banks in not disclosing detailed quarterly earnings.
Reuters: Alibaba Group Holding Ltd., China's largest e-commerce company, had profit that doubled in the three months ended in December after commissions likely increased on surging
sales. -- “The majority of growth is likely to come from commissions,” Victor Yip, an analyst at UOB-Kay Hian Ltd. in Hong Kong, said by phone today. “Transaction volumes were up.” Jack
Ma, Alibaba’s billionaire executive chairman, said last year the company may go public within five years. While Alibaba has said it has no timetable for an initial public offering, analysts are
anticipating an IPO this year or next. The valuation could reach $62.5 billion, according to the median of eight estimates by investment banks and research firms since February, based on data
compiled by Bloomberg. -- “Their strong growth is good news before the listing,” Yip said.
Reuters: Deutsche Telekom AG, Germany’s largest phone company, reported first-quarter profit before some items that beat analysts’ estimates after slowing a decline in mobile revenue at
home and halting an exodus of U.S. customers. Earnings before interest, taxes, depreciation and amortization adjusted for some items fell 4.3 percent to 4.29 billion euros ($5.6 billion),
compared with the 4.24 billion- euro average estimate among analysts compiled by Bloomberg. In the U.S., wireless customers, including pay-as-you-go users, rose for the first time in 15
quarters, the Bonn-based company said today. Deutsche Telekom completed a deal to merge its T-Mobile US unit with MetroPCS Communications Inc. last week, freeing management
capacity to focus on reviving its business in Europe. Rivals in Germany, including Royal KPN NV’s E-Plus unit and Telefonica Deutschland Holding AG posted a drop in average revenue per
wireless customer for the quarter as carriers vied for clients by offering cheaper voice and data packages. -- “After the numbers we have seen we were expecting revenue to be fairly light,”
said Paul Marsch, a London-based analyst at Berenberg Bank who recommends investors hold shares of the company. “Deutsche Telekom seems to have fared better than its peers in
Germany.”
Notice: Neither GFIC S.A.L nor its directors or employees accept responsibility for any decisions or losses that may arise from the use of the above data
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