Cyrrus (Cyrrus)
Markets  |  July 10, 2012 09:46:57

Breakfast joint stock 7.10 - Alcoa, China, assistance to Spain, the macro


Overview of major events for Tuesday, the 10th July 2012

U.S.  

Alcoa results - positive  

ASIA

Worse data on Chinese imports

EUROPE

Min.fin. EZ Spanish banks to speed up aid

SUPERSPAD

Linde

COMMODITIES

The decline in oil

Upcoming Events

10:00 Italy Industrial Production

10:30 GB Industrial Production

U.S.

  • Trading in the U.S. took place all day in the red, when the major indices ended the trading as follows: S & P 500 -0.16% -0.28% Dow Jones, Nasdaq -0.19%

Alcoa - results:

  • 2Q earnings per share vs. 6C. exp. 5C
  • Sales 5.96 billion vs. exp. 5.81 billion
  • The reason is the growth of orders from the automotive and aerospace industries
  • The demand for aluminum this year will grow by 7% and is higher than supply
  • Initial reactions +3%, but then decline to closing values

AMD:

  • 2Q sales estimate: -11% originally +3%
  • The reason is the slowdown in China and Europe
  • After market -11%

ASIA

  • Asia declined due to poorer data on Chinese imports (= slowing economy)
  • They grew up by 6.3%, the estimate was 11%
  • The trade surplus is on the 3-year maximum
  • It can get the government to further promote domestic demand

EUROPE

EZ Finance Ministers:

  • By the end of July will receive the first part of Spanish bank assistance: EUR 30 billion (of up to 100 billion euros)
  • The loan will be superior to other creditors (already mentioned at the EU summit)
  • Spain must accelerate savings
  • Rajoy should be present during the 3rd day austerity package last 6 months
  • EU finance ministers delay the deadline by one year to 2014, when the Spaniards must get the deficit below 3%
  • Junecker signaled an easing of the bailout for Ireland and Portugal

Spain:

  • 10-year bonds currently yield on the value of 7.013%

SUPERSPAD

Linde:

  • Issue 13 million shares (7.5% float) to finance the acquisition of Lincare

Recommendation:

COMMODITIES

Oil:

  • Declines after the Norwegian oil workers ended a strike platforms
  • Norway supplies 1.8% of world demand for oil
  • Also slowing Chinese imports had a negative impact on the price
  • Brent crude oil price fell by 1.89% to $ 98.42 per barrel WTI oil price fell by 1.28% to $ 84.90 a barrel
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January 09, 2013Breakfast-stock 1.9 - Alcoa, Japan, macro Cyrrus (Cyrrus)

Akciová snídaně 10.7. - Alcoa, Čína, pomoc Španělsku, makro

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