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Thứ Tư, 26 tháng 6, 2013

European Stock-Index Futures Rise; SAP, Colruyt May Move - Bloomberg

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European equity futures advanced, indicating the Stoxx Europe 600 Index will extend its rebound from a six-month low, as China’s cash crunch eased. U.S. futures fell, while Asian shares increased.


SAP AG may be active after the largest maker of business-management software said its cloud division in Europe is growing at more than 10 percent. Colruyt (COLR) SA may move after reporting full-year earnings that beat analysts’ estimates. GSW Immobilien AG, Berlin’s largest residential landlord by market value, might move after saying both its chairman and chief executive officer will resign.


Futures on the Euro Stoxx 50 Index expiring in September gained 0.3 percent to 2,546 at 7:31 a.m. in London. Contracts on the U.K.’s FTSE 100 Index climbed 0.4 percent. The Stoxx 600 has slumped 10 percent since May 22, when Federal Reserve Chairman Ben S. Bernanke commented on the possibility of paring bond purchases. The gauge has dropped 4.8 percent this quarter, the most since September 2011, leaving it little changed in 2013.


“The vicious moves lower on fears of Fed tapering and a Chinese credit crunch seem to have abated for now and tentative buyers are feeling a little confidence about dipping their toes back into the market,” Jonathan Sudaria, a trader at Capital Spreads in London, wrote in an e-mail. China’s central bank “soothed Asian markets by stating that it had pumped cash into some financial institutions,” he said.


Standard & Poor’s 500 Index futures slipped 0.2 percent today, while the MSCI Asia Pacific Index rose 0.7 percent.


China Liquidity


The cost of locking in China’s interest rates slid for a fourth day and money-market rates fell after the central bank pledged to ease the worst cash crunch in a decade. The People’s Bank of China has provided financing to some financial institutions to stabilize interbank lending rates and will use short-term liquidity operations and existing loan-facility tools to ensure steady markets, according to a statement yesterday.


The one-year interest-rate swap, the fixed cost needed to receive the floating seven-day repurchase rate, slid 16 basis points, or 0.16 percentage point, to 3.91 percent as of 11:18 a.m. in Shanghai, data compiled by Bloomberg show. It reached an all-time high of 5.06 percent on June 20.


In the U.K., Chancellor of the Exchequer George Osborne is set to outline cuts to government spending in 2015. In a statement to Parliament, Osborne will detail 11.5 billion pounds ($18 billion) of savings negotiated with government departments for the year starting April 2015. With the cuts extending the deepest austerity program in British peacetime history into a sixth year, Osborne is highlighting 50 billion pounds of spending on infrastructure projects to help spur the economy.


SAP, Colruyt


SAP might move. Co-CEO Bill McDermott told CNBC late yesterday that the company’s cloud business in Europe is growing in double digits and that SAP is gaining share.


Colruyt may move as Belgium’s biggest discount food retailer said full-year earnings before interest, taxes, depreciation and amortization amounted to 699.8 million euros, beating the average 684 million-euro analyst projection in a Bloomberg survey. The company also raised its dividend to 1 euro a share, exceeding the Bloomberg Dividend Forecast of 98 cents.


GSW may be active. CEO Bernd Kottmann will leave his post on July 15 after investors protested how he was hired, Berlin-based GSW said in a statement late yesterday. Chairman Eckart John von Freyend will leave on July 31. The decision ends two months of conflict that ended at a meeting in Berlin last week at which shareholders passed a no-confidence motion against Kottmann and voted to dismiss Freyend.


To contact the reporter on this story: Corinne Gretler in Zurich at cgretler1@bloomberg.net


To contact the editor responsible for this story: Andrew Rummer at arummer@bloomberg.net



Enlarge image European Stock-Index Futures Are Little Changed; SAP Might Move

European Stock-Index Futures Are Little Changed; SAP Might Move


European Stock-Index Futures Are Little Changed; SAP Might Move

SAP might move. Co-CEO Bill McDermott told CNBC late yesterday that the company’s cloud business in Europe is growing in double digits and that SAP is gaining share.





SAP might move. Co-CEO Bill McDermott told CNBC late yesterday that the company’s cloud business in Europe is growing in double digits and that SAP is gaining share. Photographer: Ralph Orlowski/Bloomberg








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