German stocks advanced, with the benchmark DAX Index headed for its highest close since September 2008, after the U.S. Federal Reserve signaled policy makers are prepared to buy more government debt.
ThyssenKrupp AG and Salzgitter AG, the country’s largest steelmakers, followed metal prices higher. Infineon Technologies AG advanced 3.8 percent after ASML Holding NV reported earnings that beat estimates. Solar Millennium AG dropped 7.4 percent, the most since September, after cutting its forecast for the year.
The DAX also gained 1.7 percent to 6,409.95 at 2:05 p.m. in Frankfurt, its highest level since Sept. 4, 2008. The measure rallied 4.4 percent in the third quarter as investors speculated that central banks will step in to provide more stimulus for the ailing global recovery. The broader HDAX Index rose 1.7 percent today.
“It seems that comments from the Fed gave the market the last positive signal it needed to break old resistance levels and reach a new year high,” said Christian Falkner, an analyst at Alpha Wertpapierhandels AG in Frankfurt. “We expect the market to continue its ascent in the short term.”
U.S. benchmark indexes climbed to five-month highs yesterday after the Fed published the minutes from its Sept. 21 meeting, showing that the central bank will be ready “before long” to increase purchases of Treasuries, a tactic known as quantitative easing. The Fed also discussed boosting inflation expectations as a way to prop up the economy.
ThyssenKrupp and Salzgitter advanced 2.6 percent to 26.05 euros and 4.1 percent to 53.38 euros, respectively. Copper, lead, nickel, tin and zinc all increased on the London Metal Exchange.
Infineon Jumps
Infineon, Europe’s second-largest chipmaker, soared 3.8 percent to 5.55 euros, its highest price since April. ASML, the region’s biggest semiconductor equipment maker, said third- quarter profit rose to 268.5 million euros ($375.1 million), beating the 247 million-euro average of 21 analysts’ estimates compiled by Bloomberg. The company also reiterated that 2010 sales will reach a record.
Larger U.S. rival Intel Corp. said it will generate $11.4 billion of fourth-quarter sales, plus or minus $400 million, beating an average estimate of $11.3 billion, according to data compiled by Bloomberg. The company cited strong demand from businesses and customers in emerging economies.
Deutsche Bank, Commerzbank
Deutsche Bank AG, Germany’s biggest bank, rose 3 percent to 41.26 euros, the stock’s first advance in five days. Smaller competitor Commerzbank AG added 1.9 percent to 6.51 euros. JPMorgan Chase & Co., the second-biggest U.S. bank by assets, said its third-quarter net income rose 23 percent, higher than analysts estimated, as provisions for soured mortgages and credit-card loans declined.
Solar Millennium sank 7.4 percent to 17.20 euros. The solar company cut its sales forecast for the current fiscal year to 150 million euros from 350 million euros, and its earnings before interest and taxes projection to “neutral or slightly negative.”
Qiagen NV jumped 3.6 percent to 13.19 euros after the Dutch biotechnology company said it entered into an agreement with Abbott Laboratories on molecular tests.
http://jodnet.blogspot.com
ThyssenKrupp AG and Salzgitter AG, the country’s largest steelmakers, followed metal prices higher. Infineon Technologies AG advanced 3.8 percent after ASML Holding NV reported earnings that beat estimates. Solar Millennium AG dropped 7.4 percent, the most since September, after cutting its forecast for the year.
The DAX also gained 1.7 percent to 6,409.95 at 2:05 p.m. in Frankfurt, its highest level since Sept. 4, 2008. The measure rallied 4.4 percent in the third quarter as investors speculated that central banks will step in to provide more stimulus for the ailing global recovery. The broader HDAX Index rose 1.7 percent today.
“It seems that comments from the Fed gave the market the last positive signal it needed to break old resistance levels and reach a new year high,” said Christian Falkner, an analyst at Alpha Wertpapierhandels AG in Frankfurt. “We expect the market to continue its ascent in the short term.”
U.S. benchmark indexes climbed to five-month highs yesterday after the Fed published the minutes from its Sept. 21 meeting, showing that the central bank will be ready “before long” to increase purchases of Treasuries, a tactic known as quantitative easing. The Fed also discussed boosting inflation expectations as a way to prop up the economy.
ThyssenKrupp and Salzgitter advanced 2.6 percent to 26.05 euros and 4.1 percent to 53.38 euros, respectively. Copper, lead, nickel, tin and zinc all increased on the London Metal Exchange.
Infineon Jumps
Infineon, Europe’s second-largest chipmaker, soared 3.8 percent to 5.55 euros, its highest price since April. ASML, the region’s biggest semiconductor equipment maker, said third- quarter profit rose to 268.5 million euros ($375.1 million), beating the 247 million-euro average of 21 analysts’ estimates compiled by Bloomberg. The company also reiterated that 2010 sales will reach a record.
Larger U.S. rival Intel Corp. said it will generate $11.4 billion of fourth-quarter sales, plus or minus $400 million, beating an average estimate of $11.3 billion, according to data compiled by Bloomberg. The company cited strong demand from businesses and customers in emerging economies.
Deutsche Bank, Commerzbank
Deutsche Bank AG, Germany’s biggest bank, rose 3 percent to 41.26 euros, the stock’s first advance in five days. Smaller competitor Commerzbank AG added 1.9 percent to 6.51 euros. JPMorgan Chase & Co., the second-biggest U.S. bank by assets, said its third-quarter net income rose 23 percent, higher than analysts estimated, as provisions for soured mortgages and credit-card loans declined.
Solar Millennium sank 7.4 percent to 17.20 euros. The solar company cut its sales forecast for the current fiscal year to 150 million euros from 350 million euros, and its earnings before interest and taxes projection to “neutral or slightly negative.”
Qiagen NV jumped 3.6 percent to 13.19 euros after the Dutch biotechnology company said it entered into an agreement with Abbott Laboratories on molecular tests.
http://jodnet.blogspot.com
0 التعليقات
Post a Comment