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Index News Thursday 12 June 2014 Newswriting, Voice-Over & Film Editing Fred Eger
In this edition, in New York, the 'Dow ended down -0.6%. In Paris, the CAC was up +0.1%; Finally, in Tokyo, the Nikkei ended down -0.64%.
We open with New York where 'Dow' ended down at -0.6%. The 'S&P -0.35%. The Nasdaq -0.15%. The Russel 2000 -0.51%. The 'Dow Transport' -0.77%. This monotonous session was punctuated by a domestic political event in the United States: the electoral defeat of the Republican Party spokesman, Eric Cantor, who is in favour of Wall Street’s philosophies in a midterm election in Virginia.
Cantor was defeated by David Brat, candidate of the 'tea party', an anti-establishment and slayer of elites of Wall Street and Washington. Cantor’s defeat is related to the ambiguity about its positions on the illegal immigrants issues. The distributor Target announced an increase of +21% of its profit. Declines: Exelon -3.8%, Best Buy -2.2%, Discovery -2.1%, Biogen -1.5%, Intel -1.1%. Increases: Micron +5%, Sandisk +2.6%, Priceline +2.1%, Gilead +1.6%, eBay+1.2%.
In Paris, the CAC rose by +0.1% at 4562 points. Publications of statistics are expected : the price index and the balance of payments of France. In the US, investors are expecting the publication of figures to the unemployment registrations, the import prices, and the retail sales. In Europe, we expect the publication of figures for the industrial production. The company ASK, specializing in 'contactless' secure solutions, operating in the identity and transportation industries, has announced its introduction on the Paris regulated market of Euronext.
Finally in Tokyo, the Nikkei ended down -0.64% to 14973.53 points. Topix yielded -0.11% at 1237.75 points following a downward revision in the forecast for global growth, and, a rise in the yen, The World Bank now expects global growth of +2.8% in 2014 against a forecast of +3.2% in January. The Japanese government projected a decline in the rate of corporation tax, bringing it below 30% within a few years.
Mitsubishi Heavy Industries took +1.25% after the German conglomerate Siemens has announced Wednesday allying himself with the Japanese group, Mitsubishi, to study the possibility of a joint bid for a part of the activities of the French group Alstom. Hitachi has lost -0.98% following an announcement of a possible participation in the joint bid from Siemens and Mitsubishi on Alstom.