World stocks change be­fore US data

The Pak Banker - - INTERNATIONAL BUSINESS/SPORTS -

Most Euro­pean stocks ad­vanced be­fore U.S. data that may show durable-goods or­ders in­creased and new-house sales held close to a fouryear high last month. U.S. in­dex fu­tures rose, while Asian shares were lit­tle changed.

Ce­le­sio AG gained 2.1 per­cent af­ter the drug whole­saler said 2012 earn­ings ex­ceeded its own tar­get. Bell­way Plc rose 2.1 per­cent af­ter say­ing first-half profit in­creased 51 per­cent.

The Stoxx 600 Europe In­dex ad­vanced 0.1 per­cent to 293.59 at 9:15 a.m. in Lon­don as three shares rose for ev­ery two that fell. The bench­mark gauge lost 0.3 per­cent yes­ter­day, re­vers­ing a rally of 1 per- cent, amid con­cern the con­di­tions for the Cyprus bailout may set a prece­dent for other in­debted na­tions in the euro area. Fu­tures on the Stan­dard & Poor's 500 In­dex gained 0.2 per­cent to­day, while the MSCI Asia Pa­cific In­dex added less than 0.1 per­cent.

The Cyprus Stock Ex­change re­mains closed for trad­ing to­day and to­mor­row due to the con­tin­u­ing bank hol­i­days, ac­cord­ing to a state­ment on CSE's web­site.

U.S. durable-goods or­ders prob­a­bly rose in Fe­bru­ary by the most in five months, econ­o­mists said be­fore the Com­merce De­part­ment re­leases the fig­ures at 8:30 a.m. in Washington. The 3.9 per­cent in­crease in book­ings for goods meant to last at least three years would fol­low a re­vised 4.9 per­cent drop in Jan­uary, ac­cord­ing to the me­dian forecast in a sur­vey.

A sep­a­rate report at 10 a.m. in Washington may show new houses sold at a 420,000 an­nual pace last month af­ter a 437,000 rate in Jan­uary, the best back-to-back per­for­mance in four years, econ­o­mists sur­veyed by Bloomberg pre­dicted.

In Italy, Pier Luigi Ber­sani will meet Sil­vio Ber­lus­coni's deputies to­day in his bid to as­sume the Ital­ian premier­ship.

Ber­sani has two days to over­come a short­fall of sup­port in par­lia­ment and avoid an im­me­di­ate re­turn to the polls af­ter in­con­clu­sive elec­tions last month. The ap­point­ment is set to start at 4:15 p.m. in Rome.

Ce­le­sio ad­vanced 2.1 per­cent to 14.24 eu­ros. Earn­ings be­fore in­ter­est, taxes, de­pre­ci­a­tion and amor­ti­za­tion, ad­justed for one-time ef­fects, in­creased 4.5 per­cent to 579.6 mil­lion eu­ros in 2012. For this year, the com­pany pro­jected an ad­justed Ebitda of 580 mil­lion eu­ros to 610 mil­lion eu­ros.

Bell­way Plc rose 2.1 per­cent to 1,217 pence. The U.K. home­builder said net in­come in­creased 51 per­cent in the six months ended Jan. 31 to 46 mil­lion pounds ($70 mil­lion) from a year ear­lier.

Telefonica SA dropped 3.9 per­cent to 10.80 eu­ros as trad­ing in the shares opened late af­ter be­ing sus­pended for more than an hour. The com­pany raised 975 mil­lion eu­ros in a sale of trea­sury stock at 10.80 eu­ros per share.

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