Lunes 06/02/12 Reporte de utilidades

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Asia-Pacific
INDEX VALUE CHANGE % CHANGE TIME
NIKKEI 225 8,933.54 101.61 1.15% 20:18
HANG SENG INDEX 21,015.60 258.57 1.25% 20:21
S&P/ASX 200 INDEX 4,300.50 49.33 1.16% 20:37

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SHANGHAI SE COMPOSITE 2,335.92 5.51 0.24% 20:31

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KOSPI INDEX 1,985.04 12.70 0.64% 20:23

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Partidos griegos enfrentan plazo final para rescate europeo
domingo 5 de febrero de 2012 20:59 GYT
Imprimir[-] Texto [+] " title="La gente se refleja en la vitrina de una tienda con avisos de oferta en el centro de Atenas" />
1 de 1Tamaño CompletoPor Harry Papachristou y Renee Maltezou
ATENAS (Reuters) - Los partidos de la coalición gobernante de Grecia deben decir a la Unión Europea el lunes si aceptan las dolorosas condiciones para un nuevo acuerdo de rescate, mientras la paciencia de la UE se agota en medio de discusiones en Atenas respecto a la implementación de reformas.

El primer ministro tecnócrata Lucas Papademos intentó convencer el domingo a los líderes de los tres partidos en su coalición de Gobierno a que firmaran las condiciones de un rescate por 130.000 millones de euros (170.000 millones de dólares), que Grecia necesita pronto para evitar una cesación de pagos desordenada.

Papademos afirmó en un comunicado que los líderes de partidos -que podrían enfrentar a votantes enfadados en elecciones parlamentarias tan pronto como en abril- acordaron medidas como recortes salariales y otras reformas como parte de reducciones de gastos por un 1,5 por ciento del Producto Interno Bruto (PIB).

Sin embargo, un portavoz del partido socialista PASOK dijo que aún siguen sin resolver varios importantes asuntos exigidos por la "troika" formada por la Unión Europea, el Banco Central Europeo y el Fondo Monetario Internacional, que son los prestamistas de Grecia.

Las negociaciones para un nuevo rescate, que sería el segundo de Grecia desde el 2010 -y un acuerdo complementario para aliviar el enorme peso de la deuda del país haciendo que sus acreedores acepten fuertes pérdidas en sus tenencias de bonos- se han arrastrado por semanas, llevando la paciencia de la UE a un punto de quiebre.

"Las cosas son muy difíciles", declaró un funcionario gubernamental griego que solicitó el anonimato.

Ahora, los partidos griegos -el PASOK, el conservador Nueva Democracia y el LAOS de extrema derecha- deben responder a un grupo de trabajo compuesto por altos funcionarios de ministerios de Finanzas europeos que se están preparando para una reunión de sus ministros esta semana.

"Los líderes políticos (griegos) deben dar su respuesta en principio mañana al mediodía, de modo que pueda ser llevada al grupo de trabajo euro en Bruselas", dijo el domingo el portavoz del Partido PASOK, Panos Beglitis.

TEMAS DIFICILES
Beglitis dejó en claro que los líderes de los tres partidos aún tenían mucho que negociar mientras se acerca el plazo límite de mediodía (1000 GMT) para entregar una respuesta.

Los temas más difíciles que aún quedaban por resolver eran reformas laborales exigidas por los prestamistas de Grecia y cómo mejorar la situación de bancos del país, que tienen muchos bonos del Gobierno griego que ahora valen una fracción de su valor nominal.

"Hay dos grandes temas pendientes: trabajo y bancos (...) esos han sido dejados para mañana", afirmó Beglitis el domingo.

El domingo en la noche no se había programado formalmente una reunión del grupo de trabajo europeo para el lunes, pero podrían operar por teleconferencia o programar una junta con poco tiempo de anticipación, dependiendo de los resultados de las negociaciones en Atenas.

Los griegos han sido afectados por una profunda recesión económica, ahora en su quinto años, y serie tras serie de medidas de austeridad impuestas bajo el primer rescate financiero en el 2010.

Alarmados ante la posibilidad de más recortes presupuestarios, los dos principales sindicatos griegos dijeron el domingo que llamarán a una huelga de 24 horas para el martes en protesta contra políticas que, afirman, sólo han llevado a la economía en una espiral hacia abajo.

Grecia enfrenta repagos de deuda por 14.500 millones de euros en marzo, algo que no podrá hacer sin contar con más fondos de rescate.

(Reporte adicional de Angeliki Koutantou y George Georgiopoulos; escrito por Deepa Babington y David Stamp; Editado en español por Patricio Abusleme)

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El Asia fuerte al alza por la creacion de empleos en US.

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ABREAST OF THE MARKETFEBRUARY 6, 2012.Shaky Profits Threaten U.S. Stock Rally
Los margines de ganancias se estan achicando, a las companias se le hace mas dificil cortar mas gastos, ya no hay donde recortar.

Una de las columnas de la recuperacion del stock market esta flaqueando.

Las ganancias de las companias del S&P500 estan en 8.23%.

Margins Are Slipping as Cost Cutting Gets More Difficult at Already-Lean Firms

By JONATHAN CHENG
One of the legs under the stock market's rally is getting wobbly.

Even as U.S. stocks reach multiyear highs, some investors are questioning whether the recent strength will persist amid global economic uncertainty. One key concern: The corporate profits that have underpinned rising share prices are showing signs of flagging.

Since falling to its crisis lows in March 2009, the Dow Jones Industrial Average has rocketed 95% higher, thanks in part to a surge in corporate earnings that is now entering its fourth year. On Friday, the Dow hit its highest level since May 2008 after unemployment numbers that pointed to a faster-than-expected economic recovery.

U.S. corporate profits are showing signs of flagging, even as share prices reach multiyear highs.
.Rising earnings benefit shareholders either through higher dividends or by making shares appear cheaper and driving up stock prices.

Since the beginning of 2009, in the midst of the financial crisis, U.S. companies have been able to increase profits despite a sluggish economy, largely due to aggressive cost cuts: reducing investments, closing down plants and laying off workers.

Those efforts have enabled corporations to boost profits more than their top lines. Revenues for Standard & Poor's 500-stock index companies have risen by around 20% since the fourth quarter of 2008, but per-share profits have quintupled over that same period.

After hitting a low of $4.42 a share in the fourth quarter of 2008, earnings at S&P 500 companies are on track to hit $24.20 a share for the fourth quarter of 2011, according to Brown Brothers Harriman, a New York-based investment bank and wealth-management firm. The surge highlights just how much profit growth companies have been able to wring out of a modest economic recovery.

"Corporate America has been running extremely lean," said Maulin Thaker, the firm's earnings analyst.

But in recent months some investors have become increasingly concerned that companies might have squeezed the last drop of profits out of cost-cutting.

"There's not a lot of fat left to cut," says Nicholas Bohnsack, strategist and partner at Strategas Research Partners.

One important indicator is flashing red: Profit margins took a tumble during the last three months of 2011, suffering their biggest quarter-to-quarter drop since the crisis. Profit margins—which measure how much of a company's sales falls to the bottom line, once costs are subtracted—are a gauge of how efficiently a company runs its operations.

In the second quarter of 2011, the profit margin for the S&P 500 companies, excluding financials and utilities, hit 8.95%, the highest since at least 2006 and up from a low of 5.77% in early 2009.

But since then, the S&P 500 profit margin has fallen back to 8.23% for the companies in the index that have reported fourth-quarter 2011 profits so far, according to Brown Brothers, which had been expecting at least 8.60%.

"Margins clearly reached an inflection point," said Barry Knapp, chief equity strategist for Barclays Capital. He said seven of the S&P 500's 10 sectors are on track for margin contraction this quarter. That's an ominous sign "because margins typically peak two to three quarters before recession."

Household goods giant Procter & Gamble Co. saw core operating margin, which strips out one-time factors, fall by 1.60 percentage points in the quarter through December from a year earlier, as rising commodity prices added to costs, hitting the company's bottom line.

Blue-chip oil companies Exxon Mobil Corp. and Chevron Corp. both reported big hits to profit margins in their refining business in the most recent quarter, due to higher crude-oil prices and lower demand for fuel products.

If margins have indeed peaked, companies will have to boost profits by increasing revenues, a tall order at a time when the global economic outlook remains tenuous. Many investors expect Europe to be mired in a recession for much of 2012 and fear a sharp slowdown in China. In the U.S., economic growth remains fragile.

If companies aren't able to sustain their profit momentum, the stock market would be deprived of a key support. So far in their earnings reports for the last quarter of 2011, the S&P 500 companies have struggled to meet even Wall Street's sharply reduced expectations. About 60% of the 277 companies in the index that have reported earnings have topped Wall Street estimates, below the average "beat" of about 70% in the first three quarters of 2011.

Furthermore, the cloudy economic outlook has put corporate chieftains in a cautious mood, with the number of companies issuing negative warnings for future profits at its highest point in at least six quarters, according to Morgan Stanley.

Mr. Bohnsack of Strategas says, "We're past the part of the cycle where revenue increases are happening at an increasing rate, and now it's happening at a decreasing rate." He expects profit margins to be under continued pressure for the next two years.

To be sure, some Wall Street strategists argue that the fears about corporate margin pressures are overdone.

Douglas Cote, chief market strategist at ING Investment Management, says analysts have underestimated the resilience of U.S. companies for two years, and are likely to be missing a new leg up in profits as U.S. companies pivot toward selling their products in emerging economies like China and India.

"Who cares about margins when we're making up for tighter margins through more revenue growth overseas?" Mr. Cote says.

He argues that U.S. consumer companies will benefit from the rising purchasing power of emerging-market consumers, in the same way that big American industrial giants capitalized on infrastructure spending in those countries.

Even if earnings indeed slow, stocks' performance will ultimately depend on whether investors have enough confidence in the economy to bid up company shares even as profits soften.

The hope for many investors is that 2012 will prove to be a less hostile macroeconomic environment than what the market had feared, as the European debt crisis and the U.S. economic worries recede.

"Some of what caught the market off-guard is that some of the risks attached to Europe have been mitigated, and the market had been pricing in elements of a much worse scenario," says Jim Russell, chief equity strategist for U.S. Bank Wealth Management.

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Y asi las corporaciones americanas son odiadas por la izquierda no solo de US si no de todo el mundo, por un cochino 8.23% de ganancias promedio. Vale la pena? matarse trabajando, ser criticado por todos los frentes, tener a un presidente con la guerra declarada contra ellos, tener juicios, abogados, peleas, sindicatos reclamando y gritando. Vale la pena.

El capitalismo esta amenazado.

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Los partidos Griegos con muchos problemas para resolver sus diferencias.

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Se esperan mas fusiones entre mineras. Y seran mega-fusiones.

Mining Deals to Pile Up

By JOHN W. MILLER And DANA CIMILLUCA
The proposed merger of Glencore International AG and Xstrata PLC would create a true rival to global mining heavyweights like Vale SA, Rio Tinto and BHP Billiton, as well as put pressure on midsize players to either team up or grow through acquisitions.

At stake: resources like coal, copper and iron ore that are crucial to a booming Asia. The world's top four coal importers—Japan, China, South Korea and Taiwan—took in more than $80 billion in coal alone last year, for example.

Expect a Glencore-Xstrata merger to fuel two types of deals. "There's going to be the megamergers, which will pull levels of concentration much higher," says Michael Locker, the president of consulting firm Locker Associates Inc. Also, he says, companies will bet more heavily on smaller, riskier "frontier assets" in developing countries such as Zambia, Mozambique and Mongolia.

The potential Glencore-Xstrata combination would come during what already is a golden age for mergers and acquisitions in mining and metals—albeit one slowed by recent economic and financial turmoil. The number of deals in the sector rose to 1,008 last year from 564 in 2005 and 392 in 2000, according to a survey to be released Monday by Ernst & Young.

"We've been in a merger binge since the commodity boom started," says David Lipschitz, an analyst for CLSA/Crédit Agricole. Prices for commodities including coal and nickel took off in the early 2000s, propelled by the admission of China into the World Trade Organization.

And M&A conditions in mining remain ripe world-wide, analysts say. Commodity prices are high, while stock prices and borrowing costs are still relatively low. A record $84 billion in corporate bonds were issued by mining and metals companies last year, up 16% from the year earlier, while bank loans rose 2% to $187 billion, according to Ernst & Young.

A Glencore-Xstrata merger would add a catalyst. Combined, the company would have a market value of roughly $80 billion. But more important, the new company would have clout in several areas. It would control one-third of the market for thermal coal used to generate electricity and become the world's largest producer of zinc, with 15% of overall production. The new company also would vie with midsize Freeport-McMoRan Copper & Gold Inc. for the title of the world's second-biggest copper producer, behind state-owned Codelco of Chile.

As fears of a global financial and economic meltdown recedes, megamergers among top 10 players—possibly even a renewed effort by BHP to acquire Rio Tinto—are more likely, industry bankers and analysts say. The Anglo-Australian miners and Brazil's Vale together control 70% of the world's seaborne iron-ore trade.

That said, there is no guarantee that Glencore and Xstrata will succeed in merging, even if, as expected, they announce an agreement when Xstrata reports results Tuesday. For one, antitrust regulators have blocked deals they consider anticompetitive and there is no indication that regulators will stand down.

Also, shareholders have set a high bar. The kind of deal that Xstrata and Glencore are discussing—a merger of equals that people familiar with the matter say would include at most a modest premium for Xstrata shareholders—is a type that many investors have been unwilling to support. In 2009, a year after BHP failed in its attempt to acquire Rio Tinto, Xstrata tried to buy Anglo American PLC, a midsize Anglo-South African conglomerate. That deal fell apart after Anglo American shareholders balked.

Any of those deals could resurface, analysts say. Freeport also would be a juicy takeover target, but its market value of $44 billion would make such a purchase an expensive proposition.

The other type of hot deal represents a hunt for resources in frontier nations such as Zambia, Mozambique and Mongolia, with valuable deposits buried under remote, unforgiving landscapes. There were 87 frontier deals last year, valued at $20.2 billion in total, and three-quarters of them involved those three countries.

Among them, Canada-based Barrick Gold Corp. paid $7.4 billion for Equinox Minerals Ltd., the main asset of which was Zambian copper mines. And Rio Tinto paid $3.9 billion for Riversdale Mining Ltd., which controlled one of the world's biggest untapped coking-coal deposits, in Mozambique.

Last month, Rio increased its stake in Ivanhoe Mines Ltd. The Canadian company's main asset is Mongolia's Oyu Tolgoi mine, which is set to become the world's biggest copper mine when it begins production next year. Between 15 and 20 mines a year are going into operation in Mongolia. The country last year passed Australia as China's main supplier of coking coal, which is used to make steel.

Frontier investments are risky, however.

"You build a mine in Guinea: You don't know if you'll still have it in five years," says Mr. Locker, the consultant. As another example, he cites Rio Tinto spending $1 billion to build a rail line in Mozambique. "And you can't take it with you when you leave."

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Las ventas de joyeria en Hong Kong por el nuevo anio fueron menores a las esperadas.

Las ventas retail en Australia caen.

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NY de fiesta, los Giants ganan el Super Bowl !!!!

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Euro down 1.3088

El Nikkei +1.29%, el Shanghai C . +0.39%, Korea +0.39%, el Hang Seng +0.59%, Australia +1.17%

-33

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Treasurys Price Chg Yield %
2-Year Note 0/32 0.238
10-Year Note 1/32 1.924
* at close

8:34 a.m. EST 02/06/12Futures Last Change Settle
Crude Oil 97.10 -0.74 97.84
Gold 1717.4 -22.9 1740.3
E-mini Dow 12760 -33 12666
E-mini S&P 500 1334.75 -4.25 1322.75

8:44 a.m. EST 02/06/12Currencies Last (mid) Prior Day †
Japanese Yen (USD/JPY) 76.67 76.60
Euro (EUR/USD) 1.3043 1.3159
† Late Friday in New York.

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Copper February 06,08:39
Bid/Ask 3.8318 - 3.8334
Change -0.0582 -1.50%
Low/High 3.8272 - 3.8926
Charts

Nickel February 06,08:39
Bid/Ask 9.5557 - 9.5602
Change -0.0278 -0.29%
Low/High 9.4560 - 9.6143
Charts

Aluminum February 06,08:39
Bid/Ask 0.9804 - 0.9819
Change -0.0196 -1.96%
Low/High 0.9794 - 1.0021
Charts

Zinc February 06,08:39
Bid/Ask 0.9594 - 0.9608
Change -0.0055 -0.57%
Low/High 0.9577 - 0.9791
Charts

Lead February 06,08:39
Bid/Ask 0.9838 - 0.9851
Change -0.0226 -2.24%
Low/High 0.9824 - 1.0180

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Europe, Africa and Middle East
INDEX VALUE CHANGE % CHANGE TIME
Euro Stoxx 50 Pr 2,501.70 -13.45 -0.53% 08:20
FTSE 100 INDEX 5,888.64 -12.43 -0.21% 08:21
CAC 40 INDEX 3,401.06 -26.86 -0.78% 08:21
DAX INDEX 6,747.91 -18.76 -0.28% 08:20
IBEX 35 INDEX 8,803.60 -57.60 -0.65% 08:21
FTSE MIB INDEX 16,356.00 -83.62 -0.51% 08:21
AEX-Index 325.16 -1.17 -0.36% 08:22
OMX STOCKHOLM 30 INDEX 1,068.77 -9.90 -0.92% 08:36
SWISS MARKET INDEX 6,135.47 -17.84 -0.29% 08:21
More Europe, Africa and Middle East Indexes »

Asia-Pacific
INDEX VALUE CHANGE % CHANGE TIME
NIKKEI 225 8,929.20 97.27 1.10% 01:28
HANG SENG INDEX 20,709.90 -47.04 -0.23% 03:01
S&P/ASX 200 INDEX 4,295.98 44.81 1.05% 00:44