Search This Blog

Translate

Search Tool




Jul 10, 2012

STANDARD and POOR'S | Latin America Highlights:Latin American Structured Finance Scenario And Sensitivity Analysis s

Standard & Poor's LatinAmerica Highlights


Latin America Product and Services

 

Top Stories

Análisis de escenarios y sensibilidad para Financiamiento Estructurado en América Latina: Efectos de las variables de los mercados regionales

Las economías de los países de América Latina han crecido de manera sostenida resistiendo los embates de la más reciente recesión mundial.

English Version

Reporte Sectorial: Empresas de petróleo y gas de América Latina están bien posicionadas en general para afrontar el futuro

Las perspectivas de Standard & Poor’s para las empresas de petróleo y gas de América Latina siguen siendo estables.

English Version

Clasificación de emisores: Empresas de petróleo y gas de América Latina, de la más fuerte a la más débil

Las perspectivas de Standard & Poor’s para las empresas de petróleo y gas de América Latina siguen siendo estables.

English Version

Clasificación de emisores: Empresas de productor forestales de América Latina, de la más fuerte a la más débil

La demanda volátil y cada vez más débil de las economías asiáticas y los desafíos constantes en las economías europeas presionaron recientemente los precios de la celulosa.

English Version

Envolvimento do mercado de capitais é chave para financiamento da energia limpa, diz Standard & Poor’s no Forum Rio + 20

O financiamento exigido para atender as necessidades do setor de energia renovável entre o momento atual e 2030 vai exaurir a capacidade de financiamento dos bancos e das empresas de energia e envolver os mercados de capitais, entre outros, acredita a Standard & Poor’s.

Spanish Version

English Version

Rating News

Argentina

Standard & Poor's baja la calificación del Fondo Goal Acciones Brasil y confirma la calificación del Fondo Goal Acciones Latinoamérica

Buenos Aires, 28 de junio de 2012.- Standard & Poor’s bajó la calificación del fondo Goal Acciones Brasil a ‘raAA+c’ desde ‘raAAAc’ y confirmó la calificación de ‘raAAc’ del fondo Goal Acciones Latinoamérica, y, al mismo tiempo, retiró las ...

Brazil

Credit FAQ: Why Standard & Poor's Rated Banco do Brasil's Subordinated Deferrable Notes 'BB+'

Banco do Brasil S.A. (BBB/Stable/A-3), the largest financial institution in Latin America, issued $750 million 10-year subordinated deferrable notes earlier this month.

Ratings da Net Serviços de Comunicação S.A. elevados para 'BBB+' refletindo mudança na estrutura acionária; Ratings removidos do CreditWatch Positivo

No primeiro trimestre de 2012, a Embrapar, empresa que, em última instância, é controlada pela AMX, adquiriu o controle indireto da operadora brasileira de TV a cabo NET Serviços de Comunicação S.A. (NET) da Globo.

Impacto nos FIDCs após o Primeiro Mês de Decretação do RAET no Banco Cruzeiro do Sul S.A.

O FIDC BCSul CC2, FIDC CPP 180 e o FIDC BCSul Multicred entraram em processo de liquidação antecipada.

Ratings da AmBev elevados para ‘A’ refletindo redução na dívida e operações fortes

A perspectiva estável reflete nossa visão de que a AmBev manterá níveis de dívida bastante moderados, o que mitigará ainda mais os principais riscos-país inerentes aos mercados onde opera.

Ratings 'BBB-' na escala global e 'brAAA' na Escala Nacional Brasil atribuídos ao Estado de Minas Gerais; Perspectiva estável

Atribuímos os ratings de crédito de emissor ‘BBB-’ na escala global e ‘brAAA’ na Escala Nacional Brasil ao Estado de Minas Gerais.

Chile

Standard & Poor's confirma clasificación de 'A+' de Banco del Estado de Chile; la tendencia es positiva

Buenos Aires, 28 de junio de 2012.- Standard & Poor’s Ratings Services confirmó sus clasificaciones de crédito de contraparte de largo y de corto plazo de ‘A+’ y ‘A-1’, respectivamente, de Banco del Estado de Chile (Banco Estado).

English Version

Ecuador

Oleoducto de Crudos Pesados Senior Secured Bank Loan Rating Affirmed At 'BBB'; Outlook Revised To Stable

Standard & Poor's Ratings Services said today that it affirmed its 'BBB' rating on the $900 million senior secured bank loan due 2018 of Ecuador-based oil pipeline project Oleoducto de Crudos Pesados (OCP).

Guatemala

The Central America Bottling Corp. 'BB' Rating Affirmed Following Acquisition In Ecuador; Outlook Negative

On May 1, 2012, CabCorp signed a stock purchase agreement to acquire a controlling stake in Grupo Tesalia, the Exclusive Pepsi Bottler in Ecuador for $63 million.

Mexico

Boletín: Calificaciones soberanas de México sin impacto por resultado de elección presidencial

Nueva York, 2 de julio de 2012.- Standard & Poor's Ratings Services dijo hoy que las calificaciones soberanas de México (moneda extranjera: BBB/Estable/A-3; moneda local: A-/Estable/A-2) no se ven afectadas por el resultado de la elección presidencial ...

S&P coloca calificaciones de Cemex en Revisión Especial negativa ante mayor riesgo de corto plazo, en relación a propuesta de refinanciamiento de deuda

El productor de cemento mexicano Cemex anunció una propuesta de refinanciamiento a los acreedores de su acuerdo de financiamiento para extender su vencimiento a 2017 de 2014.

Panama

Republic of Panama Ratings Raised One Notch To 'BBB/A-2'; Outlook Stable

We expect Panama's GDP growth will remain strong over the medium term, boosted by the country's high and diversified investments.

Standard & Poor's sube calificaciones a 'BBB' y 'A-2' de 'BBB-' y 'A-3' de Banco General; la perspectiva es estable

México, D.F., 3 de julio de 2012.- Standard & Poor’s Ratings Services subió sus calificaciones de crédito de contraparte en escala global de largo y corto plazo a ‘BBB’ y ‘A-2’ de ‘BBB-’ y ‘A-3’, respectivamente, de Banco General S.A. (BG).

Standard & Poor's sube calificaciones de HSBC Bank (Panamá) a 'BBB' y 'A-2' de 'BBB-' y 'A-3' tras alza de República de Panamá

México, D.F., 3 de julio de 2012.- Standard & Poor's Ratings Services subió sus calificaciones de crédito de contraparte en escala global de largo y corto plazo a ‘BBB’ y ‘A-2’ de ‘BBB-’ y ‘A-3’, respectivamente, de HSBC Bank (Panamá) S.A.

Standard & Poor's sube calificación de largo plazo a 'BB+' de 'BB' de Multibank debido a mejora en capital y utilidades; la perspectiva es estable

México, D.F., 6 de julio de 2012.- Standard & Poor’s Ratings Services subió sus calificaciones de crédito de contraparte de largo plazo en escala global de Multibank Inc. y Subsidiarias a ‘BB+’ de ‘BB’.

Paraguay

Standard & Poor's coloca calificación soberana de Paraguay en Revisión Especial con implicaciones negativas tras destitución de Fernando Lugo

Nueva York, 25 de junio de 2012.- Standard & Poor’s Ratings Services colocó su calificacion soberana ‘BB-’ de la República de Paragual en el listado de Revisión Especial (CreditWatch) con implicaciones negativas tras el reciente juicio político y ...

English Version

Standard & Poor's coloca calificaciones de tres bancos paraguayos en Revisión Especial negativa tras acción similar sobre las calificaciones soberanas de República de Paraguay

Standard & Poor’s Ratings Services colocó las calificaciones de Visión Banco SAECA., Banco Bilvao Vizcaya Argentaria Paraguay S.A., y Banco Continental SAECA en el listado de Revisión Especial (CreditWatch) con implicancias negativas tras una acción similar sobre las calificaciones soberanas de la República de Paraguay (BB-/Rev.Esp.Neg./B).

English Version

Uruguay

Discount Bank Latin America S.A. 'BB+/B' Rating Affirmed, Stand-Alone Credit Profile Raised To 'bb', Outlook Stable

We are raising Uruguay-based Discount Bank Latin America's stand-alone credit profile to 'bb' from 'bb-' following our revision of Uruguay Banking Industry Country Risk Assessment to group '7' from '8'.

Calificacion Soberana: República Oriental de Uruguay

Las calificaciones de la República Oriental de Uruguay se basan en las expectativas de sólido crecimiento económico del soberano y en los indicadores fiscales y externos cada vez mejores, a medida que la inversión extranjera directa (IED) se ...

Venezuela

Siderúrgica del Turbio Downgraded To 'B-' From 'B' On Higher Uncertainty Over Expropriation, Outlook Remains Negative

We believe that recent developments on the potential payment for expropriating the assets of Venezuelan steelmaker Sidetur increase uncertainty. We are lowering our ratings on Sidetur to 'B-' from 'B'.

NYT Politics: Romney Tries to Pry Away Some Votes in N.A.A.C.P. Speech


Romney Tries to Pry Away Some Votes in N.A.A.C.P. Speech

Mitt Romney is hoping that his pro-jobs message will persuade some African-Americans to desert the president in November.

To Cut Taxes or Keep Services: 2 States Act as Test Cases

The debate over the proper balance between taxing and spending has been raging around the country, and no two states have settled it more differently than Maryland and Kansas.
ADVERTISEMENT

More Politics

Obama's Camp Makes Aggressive Push for Romney to Disclose Offshore Finances

Senior aides say that the push is not an attack on Mitt Romney's wealth, but part of a broader plan to disqualify his economic credentials in the eyes of voters.
Gov. Rick Perry at the state Republican convention last month. On Monday, he said Texas would not expand Medicaid or create an insurance exchange.

Perry Declares Texas' Rejection of Health Care Law 'Intrusions'

Gov. Rick Perry told federal officials on Monday that Texas would not expand Medicaid or create an insurance exchange.
Representative Shelley Berkley, a Democrat, faces Senator Dean Heller of Nevada in an intensely competitive election.

Panel Seated in Ethics Inquiry Into Nevada Lawmaker

Representative Shelley Berkley, a Democrat facing Senator Dean Heller in an intensely competitive election, faces allegations that she used her office to help her husband.

The Caucus

Holder, at N.A.A.C.P. Event, Criticizes Voter ID Laws

Attorney General Eric H. Holder Jr., in a speech to the National Association for the Advancement of Colored People, vowed that the Justice Department would "remain aggressive" in challenging new restrictions on voter access to the ballot.

George P. Bush Urges Immigration Action

George P. Bush, who is urging younger voters to increase their participation in the 2012 election through his political action committee called MavPAC, said in an interview that he hoped Mit Romney would still "formulate a plan - a more comprehensive plan" on immigration.

Republican Web Site Points to Obama as 'Real Outsourcer-in-Chief'

On a new Web site, the Republican National Committee announced early Tuesday morning that the president wasted billions of dollars that should have been spent in America.

Recollecting Campaign Past, Santorum Hints at Future in Iowa

Ahead of a two-day bus tour to thank Iowa voters, Rick Santorum suggested he has a limited relationship with Mitt Romney but an enduring one with the first caucus state.
Representative Barney Frank, left, with his husband, Jim Ready, during their wedding reception in Newton, Mass.

At Barney Frank's Wedding, Vegan Soba and Pelosi on the Dance Floor

The reception, with music, vegan dishes and general sentimental gushing, offered its own display of the liberal Democrat establishment celebrating the first-ever same-sex wedding of a congressman.


Election 2012 iPhone App

A one-stop destination for the latest political news, from The Times and other top sources around the Web. Plus opinion, polls, campaign data and video.
Polls

A Close Presidential Contest, With Less Than Enthusiastic Voters

A new Washington Post/ABC News poll showed Barack Obama and Mitt Romney tied, each with 47 percent of support among registered voters.

Multimedia

Video: TimesCast Politics | July 10, 2012
The Obama campaign focuses its attacks. | An interview with a Republican leader in the House. | Romney opens up a fund-raising lead. | A political Twitter voice you should be following.
Interactive Graphic: Romney's Potential Running Mates
As Mitt Romney prepares to select a running mate, here is a closer look at some of the potential vice-presidential candidates.
Interactive: Selective Storytelling From the Stump
An interactive comparison provides analysis and context to some of the candidates' truths, half-truths and exaggerations.
Interactive Graphic: Building a Path to Victory
A New York Times assessment of how states may vote, based on polling, previous election results and the political geography in each state.


DealBooK | DealB%K Afternoon Edition: New Reporting Rules for Wall St., With Some Gaps




Tuesday, July 10, 2012
TOP STORY
New Reporting Rules for Wall St., With Some Gaps The new rules, stemming from the Dodd-Frank, will give regulators more control over the derivatives industry.
  • DEALBOOK »
  • DEALBOOK HIGHLIGHTS
    AerCap Stock Soars on Takeover Rumors An analyst says the aircraft leasing giant AerCap could fetch as much as a 50 percent premium in any takeover.
    Deal Professor: In Manchester United's I.P.O., a Preference for U.S. Rules Steven M. Davidoff says that the United States, which has long been criticized for its harsh rules surrounding initial public offerings, is now the place where foreign companies go to avoid regulation.
    Regulators Charge Futures Brokerage Firm With Fraud The Commodity Futures Trading Commission charged a futures firm and its chief executive with fraud and making false statements after nearly $200 million in customer funds went missing. It is also asking a federal court to appoint a receiver for the firm and freeze its assets.
    White Collar Watch: Assessing the Chances for Criminal Charges in the Libor Scandal Peter J. Henning says that prosecutors will probably have to dig deeper than what banks provided in their internal inquiries in order to determine whether top executives had any involvement in manipulating Libor.
    Comcast to Sell Back Its Stake in A&E for $3 Billion Comcast said on Tuesday that its NBC Universal subsidiary had agreed to sell back its 15.8 percent stake in A&E Television Networks. The deal values A&E at about $19 billion.
    Wall Street Short on Ethics, Report Finds About 30 percent of respondents said their compensation structure created pressure to compromise their standards or violate the law, according to a study released by the law firm Labaton Sucharow that involved 500 financial workers in the United States and Britain.
    In Parliament, Barclays' Chairman Questioned Over Bank's Leadership During tense parliamentary testimony, Marcus Agius, Barclays' chairman, was repeatedly questioned about the leadership and culture at the bank in the wake of the Libor scandal.
    Diamond to Forgo Up to $31 Million in Bonuses From Barclays Robert E. Diamond Jr., the former chief executive of Barclays, will forgo deferred bonuses of up to $31 million, as the British lender looks to quell public anger over an interest rate-rigging scandal.
    BUZZ TRACKER
    Lazard Hires Former Energy Department Deputy Secretary Lazard said on Tuesday that it had hired Bill White, a former deputy secretary of the Energy Department, as chairman of its Houston office. Mr. White, who was also a three-time mayor of Houston and former candidate for governor of Texas, is the latest hire meant to help build out the firm's energy practice.
    Hawker Beechcraft in Talks With Chinese Firm on $1.79 Billion Deal The American aircraft manufacturer Hawker Beechcraft has entered discussions with Superior Aviation Beijing of China to sell itself to the Chinese company for $1.79 billion. Hawker Beechcraft, which is jointly owned by Goldman Sachs and the Onex Corporation, said the deal would combine the company's existing operations in the United States with those of Superior Aviation Beijing in China.
    LOOKING AHEAD
    Economic Reports Data released on Wednesday will include the trade deficit for May and wholesale trade inventories for May.
    Corporate Earnings Companies scheduled to report results on Wednesday include Charles Schwab.
    In the United States The Federal Reserve will release minutes of its June 19-20 meeting on Wednesday.

    DealBook Video
    Business Day Live: Hollywood Thrives in China
    Business Day Live: Hollywood Thrives in China Home mortgage overhaul aims to prevent costly surprises. | Hollywood changes tactics as China's thirst for entertainment grows.



     
     
     
  •  

Stocks and Markets in the News | Wall Street at Close: U.S. stocks drop on Europe, corporate outlook - Marketwatch


RNPS IMAGES OF THE YEAR 2011 - A phone hangs above the floor of the New York Stock Exchange shortly after the opening of the market August 19, 2011. REUTERS/Lucas Jackson (UNITED STATES - Tags: BUSINESS TELECOMS) - Reuters
U.S. stocks drop on Europe, corporate outlook-Marketwatch: Stocks fall for a fourth session as the U.S. dollar advances on uncertainty over Europe, and engine maker Cummins Inc. reduces its sales forecast, adding to concerns about second-quarter earnings.

BIV Today's Business News: B.C. silver miner in Bolivia suffers worker hostages, protestor death and nationalization threats.





Film and Entertainment

Rockstar Games to close Vancouver studio, head to Toronto

Rockstar Games, makers of videogame Max Payne 3, will close its 35-person Vancouver office over the next six months and expand in Toronto, the company has announced.
 

B.C. film sector gets “disappointing” funding announcement

The $2.2 million that the B.C. government yesterday said it will invest in the local film industry isn’t really new funding, just a recycling of funding already announced earlier in the provincial budget, according to NDP culture critic Spencer Chandra Herbert.

Technology

QLT hiring spree turns to firing spree with 68% jobs axed

Vancouver biotech company QLT Inc. (TSX:QLT) this week announced it is cutting 146 staff, reducing its head count from 214 to 68, following a proxy battle in which a Danish venture capital firm seized control of the board of directors.

Mining and Energy

 

B.C. silver miner in Bolivia suffers worker hostages, protestor death and nationalization threats

Events took a dramatic turn for a Vancouver silver miner in Bolivia last week as its contract workers were taken hostage by protestors. One protester was killed in the ensuing rescue operation, and the mining concession is now threatened with nationalization.

BC Aboriginal Mining Training Association to stay open after last-minute reprieve

The BC Aboriginal Mine Training Association (BC AMTA) won't close its doors, after securing the federal funding it was seeking.

Real Estate and Development

 

Vancouver house prices to fall 6.5% in 2012: Royal LePage

Vancouver housing prices will decline 6.5% in 2012 as inventory rises and sales fall, according to Royal LePage's market forecast released this morning.

The Economist | Selected New Articles: Chinese censorship, Chinese detective novels




Analects: Monitoring the monitors
Foreign databases shed light on what censors prevent from appearing on China's social media
read more »
Schumpeter: Absolutely not
How the Bank of England comes out of the LIBOR scandal
read more »

Babbage: Lost in cyberspace
Some light to end the digital world's dark age
read more »

Americas view: Cautious optimism
Enrique Peña Nieto's victory is being challenged by a rival candidate. Our correspondents discuss the protests and what a return to rule by the PRI means for Mexico
read more »
Prospero: A glimpse of modern China
Qiu Xialong's Inspector Chen novels are highly readable and entertaining, with a touch of political commentary
read more »
Daily chart: In praise of big oil
Which companies are the most—and least—open in their dealings?
read more »
 
Upcoming debate: Euro debt
Should the euro zone's debt be mutualised? Sign up for alerts
read more »

Stocks and Markets in the News | European Markets: U.K. data boost Europe stocks; Spain’s yields drop

U.K. data boost Europe stocks; Spain’s yields drop A surprise improvement in U.K. manufacturing data sends European stock markets sharply higher on Tuesday, while Spanish bond yields fall after the euro area finance ministers agree on a bank bailout plan for Spain

BBC Breaking News: Vote on Lords reform dropped

  BBC   Having difficulty reading this email? View it online  
BBC News
 
 
  Breaking News  

Vote on Lords reform dropped

A vote due to be held on the timetable for a bill on House of Lords reform is abandoned after the coalition faced a parliamentary revolt.

ADVFN III World Daily Markets Bulletin


ADVFN III World Daily Markets Bulletin  
Daily world financial news Supplied by advfn.com


US Market Reports 



Stocks Come Under Pressure After Seeing Early Strength
7/10/2012 11:12 AM ET
After failing to sustain an early upward move, stocks have shown a notable turnaround over the course of morning trading on Tuesday. The major averages have pulled back well off their highs for the session and into negative territory.
While a positive reaction to news out of Europe contributed to the early strength on Wall Street, buying interest waned not long after the open. Lingering concerns about the global economic outlook helped to limit the upside for the markets.
Technology stocks have helped to lead the way back to the downside, with Advanced Micro Devices (AMD) moving sharply lower after slashing its second quarter sales guidance.
The news from AMD is contributing to significant weakness in the semiconductor sector, as reflected by the 2 percent loss being posted by the Philadelphia Semiconductor Index.
Electronic storage stocks have also come under pressure, with Quantum posting a standout loss after the company warned of weaker than previously forecast first quarter results.
Oil service, health insurance, and housing stocks have also moved to the downside on the day, contributing to the downturn by the broader markets.
The major averages have seen some further downside in recent trading, hitting new lows for the session. The Dow is down 29.40 points or 0.2 percent at 12,706.89, the Nasdaq is down 15.80 points or 0.5 percent at 2,915.97 and the S&P 500 is down 3.58 points or 0.3 percent at 1,348.88.

TSX Flat As Commodities Falter - Canadian Commentary
7/10/2012 11:05 AM ET
Canadian stocks were hovering around the unchanged line Tuesday morning as commodities faltered, erasing early trading gains. Trader sentiment improved after as euro zone finance ministers, in a meeting yesterday, offered EUR 30 billion aid to Spanish banks apart from endorsing the European Commission's recommendation to extend the deadline for the correction of the excessive deficit in Spain by one year to 2014.
The S&P/TSX Composite Index slipped 27.11 points or 0.23 percent to 11,607.56, after losing nearly 300 points or 2 percent in the past three sessions.
The price of Crude oil was moving lower Tuesday morning after China reported a lukewarm import data earlier today. China's trade growth plunged in June, amid weak U.S. and European demand and a Chinese slowdown. Import growth fell to 6.3 percent, while export growth declined to 11.3 percent in June from May's 15.3 percent. Crude for August eased $1.13 to $84.86 a barrel.
Lundin Petroleum was up over 3 percent, while Husky Energy (HSE.TO) was adding close to 2 percent. Meanwhile, MEG Energy was down 4 percent
The price of gold was trading flat even as the U.S. dollar was struggling to sustain recent gains versus a basket of currencies. gold for August edged down $0.20 to $1,588.90 an ounce.
Among gold plays, Royal gold , Agnico-Eagle Mines and Barrick gold were down around 1 percent each.
Verizon Wireless and Research In Motion announced the BlackBerryCurve 9310 smartphone, a stylish new smartphone for socially-connected customers. According to media reports, RIM is selling its nine-passenger Dassault Aviation SA (DSY) F50EX for $6 million to $7 million. Shares of RIM shed 2 percent
On the positive side, transportation equipment maker Bombardier gained 1.50 percent after it said its aerospace division received firm-orders from Air Baltic Corp. worth approximately $764 million, and could increase to $1.57 billion.
Drugstore chain Jean Coutu Group Inc. (PJC_A.TO) edged up 0.50 percent after reporting first quarter net profit of C$397.4 million or C$1.81 per share, higher than last year's C$49.9 million or C$0.22 per share. Adjusted earnings per share were C$0.24, up from C$0.22 in the same period last year. Analysts were expecting the company to report earnings of C$0.24 per share.
Aerospace and defense electronics products company Firan Technology Group Corp. (FTG.TO) skyrocketed 21 percent after reporting improved second quarter net profit of C$631,000 or C$0.03 per share, compared to C$420,000 or C$0.02 per share last year.

7/10/2012 11:05 AM ET
In economic news, Canada Mortgage and Housing Corp said the seasonally adjusted annualized rate of housing starts was 222,700 units in June, compared with 217,400 units in May. The May figure was revised up from 211,400 units reported previously. The number of starts in June was above the forecasts of analysts in a Reuters poll, who had expected 205,000 starts.
From the euro zone, U.K. industrial production logged an unexpected growth of 1 percent in May from a month ago, when it fell 0.4 percent, the Office for National Statistics said. Economists were forecasting a 0.2 percent fall for May.
Meanwhile, industrial production in France declined 1.9 percent month-on-month in May, data from the French statistical office Insee showed. This followed a 1.4 percent gain in April and was steeper than 1 percent drop expected by economists.

European Market Report


European Markets Higher After UK Data, Spain Aid
7/10/2012 7:16 AM ET
The European markets are moderate to notably higher in afternoon trading Tuesday, after Eurozone finance ministers agreed to offer Spain 30 billion euros and U.K. industrial production logged an unexpected growth in May. The Asian markets closed lower as data out of China indicated weak demand.
Eurozone finance ministers on Monday endorsed the European Commission's recommendation to extend the deadline for the correction of the excessive deficit in Spain by one year to 2014. The ministers agreed to offer Spain 30 billion euros to help the country's troubled lenders.
The euro Stoxx 50 index of eurozone bluechip stocks is gaining 1.42 percent, while the Stoxx Europe 50 index, which includes some major U.K. companies, is adding 0.85 percent.
The German DAX is advancing 1.51 percent and the French CAC 40 is rising 1.34 percent. The UK's FTSE 100 is gaining around 1 percent and Switzerland's SMI is adding 0.65 percent.
In Frankfurt, ThyssenKrupp is advancing 3 percent and HeidelbergCement is gaining 2.5 percent. Infineon Technologies is rising 2.4 percent.
Daimler is gaining 1.7 percent and Volkswagen is advancing 1.5 percent. BMW is moderately higher.
Commerzbank is rising 1.5 percent and Deutsche Bank is up 0.6 percent.
ElringKlinger is climbing 4.1 percent after Exane BNP initiated the car parts manufacturer with an "Outperform" rating.
Leoni is adding 3.2 percent and Norma is up 1.9 percent. Exane BNP initiated both stocks with a "Neutral" rating.
Tom Tailor is adding 3.8 percent after a sales update.
Linde, which announced a capital increase on Monday, is losing 1.6 percent.
Berenberg cut Gildemeister to "Hold" from "Buy." The shares are flat.
In Paris, BNP Paribas, Societe Generale and Credit Agricole are adding between 3.2 percent and 2.5 percent.
Renault and Peugeot are gaining 2.5 percent and 2 percent, respectively.
GDF Suez is losing 1.1 percent. Credit Suisse cut the stock to "Underperform" from "Neutral."
Ipsen is declining 11 percent. Ipsen's partner Inspiration Biopharmaceuticals Inc. was notified by the Food and Drug Administration that both clinical trials evaluating the safety and efficacy of IB1001 were placed on clinical hold, after finding a higher-than-expected rate of anti-Chinese Hamster Ovary antibody development.
In London, Barclays is adding 2.2 percent. The lender said its Board has reached an agreement with Bob Diamond on various matters, following his resignation as Chief Executive on July 3. Diamond will receive up to 12 months' salary, pension allowance and other benefits.

7/10/2012 7:16 AM ET
Marks & Spencer is gaining 1.5 percent, after reporting a marginal drop in first-quarter sales. The retailer said Kate Bostock, Executive Director General Merchandise, would leave the firm by mutual consent.
Balfour Beatty is losing 3.5 percent after a trading update. SIG, which reported lower sales for the first half of the year, is declining over 5 percent.
London Capital Group is declining nearly 13 percent. The investment services company expects lower profit for its first half due to a decline in volumes amid market volatility.
ASML is climbing 8.5 percent in Amsterdam after Intel agreed to buy a 15 percent stake in the Netherlands-based firm.
In economic news, U.K. industrial production logged an unexpected growth of 1 percent in May from a month ago, when it fell 0.4 percent, the Office for National Statistics said. Economists were forecasting a 0.2 percent fall for May.
In France, industrial production declined 1.9 percent month-on-month in May, data from statistical office Insee showed. This reversed the 1.4 percent increase in April and was more than the 1 percent drop expected by economists.
China's export growth slowed in June, while gain in imports was much weaker than forecast, signaling subdued demand both at home and abroad, official data showed.
Across Asia/Pacific, Australia's All Ordinaries slid 0.5 percent and China's Shanghai Composite index dropped 0.3 percent. Hong Kong's Hang Seng and Japan's Nikkei 225 slipped 0.2 percent and 0.4 percent, respectively.
In the U.S., futures point to a higher open on Wall Street. In the previous session, stocks saw moderate weakness during trading but ended the session well off their worst levels of the day. The Dow slipped 0.3 percent, while the Nasdaq and the S&P 500 dipped 0.2 percent each.
In the commodity space, Crude for August delivery is losing $0.17 to $85.82 per barrel and August gold is rising $7.1 to $1596.2 a troy ounce.


Asia Market Reports
Asian Stocks Mixed After Chinese Trade Data
7/10/2012 5:02 AM ET
Asian stocks ended mostly lower on Tuesday, as worse-than-expected Chinese imports data overshadowed news of a "political agreement" on a bank bailout for Spain and a positive start to the U.S. earnings season. Caution ahead of closely-watched Chinese GDP data due out later this week and apprehensions among investors over whether or not the Federal Reserve will announce some sort of stimulus also kept investors on edge.
The minutes of the last FOMC meeting where the Federal Reserve left rates unchanged but extended the "Operation Twist" to the end of the year are due to be released on Wednesday. This could provide some fresh clues concerning Fed's views on the economy and the outlook for monetary policy.
Japanese shares retreated as disappointing Chinese trade figures coming on the heels of falling inflation numbers exacerbated worries about flagging global economic growth. The Nikkei average slid 0.4 percent, while the broader Topix index shed 0.7 percent.
China-linked cyclical stocks bore the brunt of the selling, with Hitachi Construction Machinery and Komatsu falling 3-4 percent. Nikon plunged 7 percent on concerns Intel's investment in ASML Holding may hurt profits at the Japanese company. Sharp slumped 4.2 percent after the electronics maker agreed to pay $198.5 million to settle a TFT- related lawsuit brought by Dell and two other companies.
Japan's top oil and gas explorer Inpex rose 0.8 percent and Japan Petroleum Exploration edged up 0.2 percent after U.S. Crude oil futures rose almost 2 percent overnight in anticipation of a full-blown strike that threatens to shutdown Norway's oil production.
China's Shanghai Composite index slipped 0.3 percent to end at a six-month low on concerns over a weakening domestic economy. Data released by the customs bureau showed that China's trade surplus widened in June primarily due to weak import growth, heightening concerns about the outlook for the world's second-largest economy. Hong Kong's Hang Seng index ended down 0.2 percent.
Australian shares fell for a fourth consecutive session on risk aversion after Spanish bond yields spiked to the danger level of 7 percent and China's trade data signaled the world's second-largest economy is losing momentum. Both the benchmark S&P/ASX 200 and the broader All Ordinaries index ended down about half a percent each.
Miners struggled in the face of weak Chinese data, with both BHP Billiton and Rio Tinto falling about 0.8 percent each. Alumina tumbled 6.6 percent after its joint-venture partner Alcoa kicked off the much-awaited U.S. earnings season by reporting a quarterly net loss despite stronger-than-expected sales.

7/10/2012 5:02 AM ET
Among the major banks, ANZ fell 0.7 percent, Commonwealth eased 0.6 percent, NAB slid half a percent and Westpac slipped 0.2 percent. Insurance Australia Group fell 0.3 percent after outlining its aggressive expansion strategy into Asia.
In economic news, business conditions in Australia improved in June, but confidence weakened marginally, a survey by the National Australia Bank showed. The business conditions index rose to -1 in the month from -4 in May, partly unwinding a Sharp deterioration in May, when conditions fell to their weakest level in three years. The business confidence index fell by 1 point to -3 in June, consolidating the Sharp deterioration in May.
South Korea's Kospi average ended 0.4 percent lower, with cyclical stocks such as LG Chemicals coming under pressure as pessimistic Chinese economic data stoked demand concerns. Telecom stocks rose on defensive buying, with KT Corp, South Korea's largest phone and internet company, rising 3.2 percent. Heavyweight Samsung Electronics ended little changed despite a favorable court ruling in the U.K. against Apple Inc.
South Korea's government bonds fell for the first time in six days after a poll showed the central bank is likely to maintain its policy rate at the current level on July 12.
New Zealand shares lost ground after data showed Chinese imports grew at half the expected pace in June. China is New Zealand's second biggest market for exports after Australia. The benchmark NZX-50 index slipped 15 points or 0.4 percent to 3,465. gold miner Oceanagold slumped 5.7 percentage after it signed a pact with Amsterdam-based commodity trader Trafigura to sell all of the copper/gold concentrate from its Didipio project in Luzon.
Construction firm Fletcher Building, exporter Fisher & Paykel Healthcare and components maker Rakon fell about 2 percent each, while Telecom, Heartland New Zealand and Telstra rose between 0.4 percent and 2.5 percent. Jeweler Michael Hill International ended unchanged after reporting flat full-year same-store sales growth.

Elsewhere, India's benchmark Sensex was last trading up 1.2 percent, with the rupee's strength on renewed FII inflows underpinning sentiment. Indonesia's Jakarta Composite index was up 0.2 percent, Malaysia's KLSE Composite rose 0.3 percent and Singapore's Straits Times index added a percent, while the Taiwan Weighted average fell 0.8 percent.
On Wall Street, stocks posted moderate losses on Monday, with last week's disappointing jobs report and uncertainty about the situation in Europe amid rising borrowing costs for Spain and Italy generating some selling pressure. The Dow slid 0.3 percent, while the tech-heavy Nasdaq and the S&P 500 edged down about 0.2 percent each.

Commodities


Australian And New Zealand Dollars Slide After China Trade Data
7/9/2012 11:50 PM ET
The Australian and New Zealand dollars weakened against their major counterparts in early Asian trading on Tuesday after data showed China's imports rose less than anticipated and export growth slowed in June.
According to government data released, China's exports slowed to 11.3 percent on year in June from 15.3 percent in May. However, the figure topped forecasts for an increase of 10.6 percent.
Meanwhile, imports added just 6.3 percent on year, well shy of forecasts for an increase of 11.0 percent following the 12.7 percent gain a month earlier.
The country posted a merchandise trade balance of $31.73 billion in June, beating forecasts for a surplus of $24 billion following the $18.70 billion surplus in May.
In economic news from Australia, business confidence fell in June, a private survey showed.
The confidence index dropped one point to -3 in June from -2 in May, a National Australia Bank said. Meanwhile, the business conditions index improved to -1 from -4.
Elsewhere, Euro-zone finance ministers reached a "political agreement" on some details for a bailout to rescue Spanish banks, reports quoted Jean-Claude Juncker, Luxembourg's prime minister and head of the Eurogroup, as saying after the conclusion of the meeting on Monday.
As expected, Spain also got a one-year extension to meet its deficit-reduction target.
Yields on Spain's 10-year bonds rose to around 7 percent overnight, the point widely considered to be unsustainable, which damped sentiment in overnight trading.
The Australian dollar that ended Monday's trading at 1.0209 against the U.S. dollar fell to 1.0171 in early Asian deals. On the downside, 1.016 is seen as the next target level for the aussie in near term.
Against the euro, the Australian dollar declined after hitting a high of 1.2057 at 10 pm ET. At present, the aussie is worth 1.2091 per euro, compared to yesterday's close of 1.2071. If the aussie weakens further, it will break 1.210 and target the 1.215 level.
The Australian dollar slipped to 80.88 against the yen and 1.0382 against the Canadian dollar from yesterday's close of 81.24 and 1.0408, respectively. The next downside target level for the aussie is seen at 80.5 against the yen and 1.037 against the loonie.
Meanwhile, the Australian dollar pulled back against the New Zealand dollar after trading near a 3-week high of 1.2827 at 6 pm ET. The aussie-kiwi pair is now trading near yesterday's close of 1.2817. The near term support level for the Australian currency is seen at 1.279.
The New Zealand dollar also weakened, hitting lows of 63.17 against the yen and 0.7944, compared to Monday's close of 63.42 and 0.7969, respectively. If the kiwi slides further, it will target 0.793 against the US currency and 63.0 against the yen.