Friday, March 23, 2012

European stocks advanced investors awaited us home sales report march 23 2012

European stocks advanced investors awaited US home sales report march 23 2012 : European (SXXP) stocks advanced, paring weekly losses, as investors awaited American home-sales data. U.S. index futures also rose, while Asian stocks fell. The Stoxx Europe 600 Index (SXXP) climbed 0.3 percent to 266.32 at 8:17 a.m., trimming its weekly drop to 2.2 percent. The gauge has advanced 8.7 percent so far in 2012 as the European (SXXP) Central Bank disbursed more than 1 trillion euros ($1.3 trillion) to the region’s lenders and U.S. economic data topped forecasts. The MSCI Asia Pacific Index slid 0.7 percent, while Standard & Poor’s 500 Index futures expiring in June added 0.3 percent.

Equities have gotten off to a flying start to 2012 on the back of improved sentiment towards the global economy,” said Cameron Peacock, a market strategist at IG Markets in Melbourne. Yesterday’s drop raised the question “if we might be on the cusp of a material correction. It’s probably too early to tell. In the absence of any major economic data, it’s looking like being a more benign session than yesterday.”

The Stoxx 600 (SXXP) has declined 2.5 percent in the last four days, capping the longest losing streak since November.

U.K. consumer confidence declined in February as rising joblessness and weak economic growth made Britons more pessimistic about the future, Nationwide Building Society said.

An index of sentiment fell to 44 from 47 in January, when it jumped nine points, the customer-owned lender said. A gauge of consumers’ expectations for the economy fell 4 points to 60.

In the U.S., a report at 10 a.m. New York time may show that new-home sales rose to a 325,000 annual rate in February from 321,000 the previous month, according to a Bloomberg News survey of 78 economists. That would be the fastest since December 2010. Mobistar SA (MOBB) rose 4.3 percent to 37.30 euros.

Publicis Groupe SA (PUB) dropped 2.3 percent to 41.35 euros. Nomura Holdings Inc. is selling 3.35 million of the company’s shares for 41 euros to 42 euros apiece, according to the terms obtained by Bloomberg News.
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