LGT news

Wal-Mart disappoints with cautious guidance for 2nd quarter

Fri, 17 May 2013 06:41:22 GMT

Wal-Mart forecast Q2 earnings per share of $1.22-1.27, missing analysts estimates of $1.29. American consumers struggle with a slowing economy and higher taxes.

Cisco Systems sees strong corporate demand

Thu, 16 May 2013 06:31:04 GMT

Cisco Systems, the largest maker of networking equipment, posted solid Q3 earnings (per end of April) of 51 cents per share, topping market estimates by 2 cents, as corporate customers increased investments in data-traffic networks to accommodate users who are increasingly relying on smartphones and tablets to watch video and surf Websites. Revenues rose 5.4% to $12.22bn (consensus $12.17bn). Cisco predicts Q4 adjusted EPS to come in at 50-52 cents, compared to a 51 cent analysts’ forecast. Sales will rise 4-7% from a year earlier, indicating a range of $12.16-12.51bn. Analysts on average predicted $12.47bn. Shares of the California-based company jumped almost 10% in extended trading.

Subdued German investor sentiment

Wed, 15 May 2013 06:40:09 GMT

German investor confidence, as published by the ZEW (Center for European Economic Research), rose less than the Bloomberg consensus of economists had predicted. May data revealed that the German economy is returning to growth but that risks arising from the euro zone remaining in recession are still present, the institute commented.

Southern Europe Slowly on the Mend

Wed, 19 Dec 2012 11:07:43 GMT

Peripheral euro bonds have been outperforming since the ECB pledged to provide support if needed last year, but there has also been some fundamental progress: current account balances are steadily improving in Southern Europe. Stable surpluses in the South would be practically unprecedented. More importantly, they could unclog credit markets, support economic activity, help governments meet fiscal targets faster, and thus bring debt sustainability within reach.

U.S. Retailers report moderate sales growth

Tue, 14 May 2013 06:34:49 GMT

U.S. retail sales increased in April, contrary to market expectations, reflecting broad-based gains that may ease concerns consumer spending is weakening. Compared to the previous month, purchases rose 0.1%, while analysts had anticipated another 0.3% decline, following a revised 0.5% drop (initial estimate -0.4%) in March.

G7 sees uneven prospects for global economy

Mon, 13 May 2013 06:38:28 GMT

Finance ministers and central bankers of the Group of Seven G7 said prospects for the global economy remain “uneven.” At the same time, the group reaffirmed their February commitment “not to target exchange rates” at a meeting near London. Meanwhile, the yen broke thru 100 versus the dollar and weakened past 102 for the first time since October 2008. G7 policy makers said they examined Japan’s strategy and that they will monitor its impact on currencies.

Strong Export Growth in China

Wed, 08 May 2013 06:43:02 GMT

China’s export growth accelerated in April more than expected, despite declining shipments to the U.S. and Europe. Year-on-year, exports rose 14.7% (consensus +9.2%), following a 10% gain in March, the General Administration of Customs in Beijing reported. Export growth was led by a 57.2% jump in shipments to Hong Kong, while U.S. shipments fell 0.1% and exports to the European Union slumped 6.4%. Imports gained 16.8%, exceeding the median analyst forecast of 13% and March’s 14.1% increase, easing concern that domestic demand is slowing after the world’s second-largest economy decelerated in the last quarter. The trade surplus of $18.2bn was higher than projected and follows a March deficit of about $880m.

Spring time in U.S. labor market

Mon, 06 May 2013 06:47:17 GMT

The U.S. labor market report showed a stronger-than-anticipated pick up in jobs in April. Payrolls expanded by 165,000 workers last month following a revised 138,000 increase in March that was larger than first estimated, the Labor Department reported on Friday. The median market forecast projected a 140,000 gain. Revisions added a total of 114,000 jobs to the employment count in February and March.