Cyrrus (Cyrrus)
Markets  |  May 23, 2012 10:37:15

Breakfast joint stock 5.23 - Market turnover, the EU summit in Greece, the results of macro


Overview of major events for Wednesday, the 23rd May 2012

U.S.  

Clearing at the end of trading profits  

ASIA  

BoJ waives further stimulus  

EUROPE  

EZ Summit, Greece  

SUPERSPAD  

VIG, Dell (HP), Continental, SAP  

COMMODITIES  

Oil  

Upcoming Events  

16:00 U.S. home price index
16:00 U.S. new home sales

11:30 and 12:00 Auction Germany (2Y and 11Y)

Hawlett-Packard - after market

U.S.

  • Losses in the last hour of trading after the Dow Jones report, which is quoted former Greek Prime Minister Papademos. He said that Greece considers preparing to leave the EZ

ASIA

  • Continued concern about developments in Greece
  • Bank of Japan announced that it plans to further monetary stimulus

EUROPE

Greece

  • According to former Greek Prime Minister Papademos Greece is considering steps to prepare to leave the EZ
  • The actual departure but gives little chance

EU Summit

  • Classic předsummitový optimism will be weakened Papademovým comment
  • The summit will begin at 19:00 and will be more advance preparation Summit 28 to 29 June
  • Pressures on Merkel:
    • Issue of Eurobonds (promotes Fr, It, Lux, Peript. Country against Fin, which, Cancer.)
    • Use mutual funds to recapitalize European banks
    • Stronger rescue fund
    • A longer time horizon to reduce debt in Greece, Portugal, Ireland
  • The EU Parliament has approved a plan for investment in infrastructure in the amount of EUR 4.6 billion during the years 2012 and 2013
  • Specific growth promotion are expected from the second summit

SUPERSPAD

VIG results for 1Q2012:

  • Gross written premiums vs. exp. 2.68 billion (+5.5% y / y)
  • Profit before tax of EUR 151 million vs. exp. EUR 153 million
  • Net profit of EUR 118 million vs. exp. EUR 122 million
  • Driven by growth in CEE (+14% y / y)
  • This year focuses on organic growth, while not ruling out a possible acquisition or, if there are an interesting target
  • Overall, slightly better yields vs. slightly lower gain (= slightly higher operating costs), no surprises or price-fixing mimovýsledková information
  • Given that VIG usually not respond to the results and numbers do not surprise, do not expect a significant response to time shares or VIG
  • Conference call starts at 15:00 (Mark)

Dell

  • Worse profit and sales
  • Lower revenue growth outlook
  • The CC speaks about the challenges of demand and competition
  • After the market -12%
  • It can have a negative impact on HP (-3% after market)

Continental

  • The head of Schaeffler (majority owner of Continental) share price is undervalued and market sentiment just downloaded
  • Management has apparently doing well given the current circumstances in the market

SAP

  • Ariba bought for 4.3 billion USD
  • Efforts to strengthen its cloud business
  • According to the Bernstein price is a bit excessive
  • -2.4% Premarket

COMMODITIES

Oil

  • Returns are due to falls in positive developments in Iran (agreed subjected inspectors)
  • According to API inventories rose by 1.5 million barrels last week
  • Today, DOE should post increased by 1.7 million barrels
  • Boundaries according to Fibonacci support up to $ 88.7

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Akciová snídaně 23.5. - tržní obrat, summit EU, Řecko, výsledky, makro

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