Market Gazer Hong Kong - Japan - Germany - UK - North America
market review : europe & u.s. not disclosed. Siemens declined 0.9% to
European PMI coming from Eurozone,
Germany, and France showed
disappointing results, dragging the
European shares down. German DAX
index ended at 6,184.71 or down 23.62
points and FTSE 100 ended at 5,547.08 or
down 0.09%. Elsewhere, mixed US data
sent the Dow Jones Index down by 76.89
points or 0.72% to 10,662.42. Nasdaq
Composite was also down 0.32% or 7.47
points to 2,327.08 while S&P 500 index
slipped 9.45 points to end at 1,124.83.
US claims for the week ending September
18th rose from 453K to 465K, above the
expected 450K. Existing home sales
rebounded in August by 7.6% following a
plunge of 27% in July. US leading indicator
also edged higher by 0.3% from 0.1% in
July.
German PMI for manufacturing declined
from 58.2 to 55.3 in September; the
services PMI also fell from 57.2 to 54.6.
For France, PMI for manufacturing and
services in September were mixed.
Manufacturing PMI inched higher from
55.1 to 55.4 while the services PMI
dropped from 60.4 to 58.8. In the
Eurozone, PMI for manufacturing fell to
53.6 in September from August reading of
55.1, services PMI also fell from 55.9 to
53.6, while the composite index came out
falling from 56.2 to 53.8.
Siemens AG acquired Republic Intelligent
Transportation Services Inc. The details of
the deal for the US-based company were
23 September 2010
€76.45.
Steelmaker ThyssenKrupp
declined to €23.22 or down
2.2% after a research note
from Bank of America Merrill Lynch Global
Research reported that the price of
European Hot Rolled Coil steel has
declined.
GlaxoSmithKline will withdraw its
diabetes drug Avandia from European
market and will limit the sales of the drug
in US. Avandia was GSK’s best-selling
diabetes drug before it was discovered
that it has increased risk of heart attacks.
GSK was down 1.02% to 1,259 pence.
Vodafone was
downgraded from
OUTPERFORM to
NEUTRAL by Macquarie. The shares was
closed down 0.31% to 161.80 pence.
AMD retreated from intraday high of
$6.59 to end at $6.40 as the
microprocessor producer lowered its sales
forecast for 3Q. A drop of 1% to 4% from
2Q is expected in 3Q as demand for
notebook computers in Europe and North
America is expected to weaken. In 2Q the
company booked $1.65 billion. Consensus
forecast lies around $1.71 billion on
average.
Disclaimer: This report is provided for information purposes
only. It is not an offer to sell or to buy any securities. This
report has been prepared based on sources believed to be
reliable, but there is no assurance or guarantee regarding its
completeness & and accuracy. The author accepts no
responsibility or liability arising from any use of the report.
E-mail: market.techspeak@gmail.com
Page 1