Martes 05/06/12 El ISM no manufacturero

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Alemania y el Reino Unido a la baja.

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Starbucks compra una panaderia.

Ag up 28.40

Cafe a la baja, todo lo demas al alza.

+3

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Marriot Hotel agregara mas hoteles.

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Espana erclama ayuda a la banca, primer pedido e indicacion de que necesitan ayuda externa.

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JPM podria reportar $4.2 billones de perdidas en el segundo trimestre.

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Euro down 1.2431

Au up 1,618.8

Oil up 84.18

Francia +0.97%

Alemania -0.62%

Yields up 1.558%

+15

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Espana en crisis:

Espana alerta que no tiene acceso al mercado. Se le han cerrado las puertas.

El ministro de Presupuesto Critobal Montoro pidio urgentemente a sus partner de la zona euro que actuen rapidamente para ayudar a apoyar a su banca, dijo que el gobierno ha perdido efectivamente acceso al mercado de capital por los altisimos intereses que los inversionistas de bonos estan demandando por la deuda de Espana.

Admitio dramaticamente uniendose a los pedidos recientes del gobierno Espanol de directa ayuda por parte de las instituciones europeas. El gobierno esta tratando de evitar un rescate de mayores proporciones.

Los yields de Espana han subido a 6.37%, los de Alemania son 1.20%

Desde el putno de vista tecnico, Espana no puede ser rescatada.

Spain Warns Market Access Being Shut

By DAVID ROMÁN
MADRID—Spain's Budget Minister Cristobal Montoro on Tuesday urged euro-zone partners to act faster to help support its enfeebled banks, saying that the government has effectively lost access to capital markets because of steep risk premiums demanded by sovereign bond investors.

In making this dramatic admission, Mr. Montoro joined recent calls by the Spanish government for direct aid from European Union institutions for Spanish banks as the government hopes to avoid a full-blown bailout package. The matter has gained urgency after Madrid was forced into a €19 billion ($23.75 billion) rescue of lender Bankia SA, while the government's borrowing costs have surged to record highs with yields on Spanish 10-year bonds staying above the 6% mark for the third straight week. Midday in Europe, the yield was at 6.37%. By comparison, the yield on the German 10-year bond, considered a haven for investors, was at 1.20%.

."What this premium tells us is that the state, and Spain as a whole, has a problem when it comes to accessing markets, when we need to refinance our debt," Mr. Montoro said in a radio interview. "What that premium says is that Spain doesn't have the market's door open, as such, the challenge is to open that door and regain the confidence of those markets, our creditors."

The warning from Madrid was reminiscent of similar alarms over prohibitive borrowing costs sounded by Greece, Portugal and Ireland before entering into bailout talks with such international lenders as the European Union and the International Monetary Fund.

However, Mr. Montoro indicated that Europe should allow its institutions to directly recapitalize banks, stressing that a wider rescue plan is an unfeasible and unnecessary option for the euro zone's fourth-largest economy.

Under existing agreements, the euro zone's bailout funds cannot be used to directly recapitalize banks.

"Spain can't really be bailed out, from a technical point of view," Mr. Montoro said.


Cristobal Montoro, Spain's budget minister, at a news conference after a cabinet meeting last week.
.He said Spain's banks don't need "huge" amounts of aid, backing up comments made by the influential Chairman of Banco Santander SA, Emilio Botín, who said on Monday that €40 billion should be enough to make Spain's financial sector viable. Some analysts have put estimates for Spain's banking sector needs to as high as €90 billion.

"The amount needed by Spain's banking system isn't very high, nor excessive. What matters is the procedure to provide such amount, and that's why it is important that European institutions open up and proceed with this," Mr. Montoro said. "What's needed is that European institutions start moving and look for a bank recapitalization through these procedures."

More on the Euro Crisis
Live: Europe's Debt Crisis
Euro Under Pressure
Germany Pushes Bank Oversight
.The ruling Popular Party has sought to keep discussion of aid for the country's banks separate from any suggestion of a hefty sovereign rescue package that could amount to hundreds of billions of euros, indicating that any financial support should come from the European Central Bank or the EU bailout fund.

Mr. Montoro said he expects that a deal creating a "banking union" in the European Union may be approved even before a series of EU summits due to take place later this month. He didn't specify the timing.

Spain's Prime Minister Mariano Rajoy is expected to take part in a summit in Rome on June 22 with Germany's Chancellor Angela Merkel, French President François Hollande and Italian Prime Minister Mario Monti. All 27 EU leaders will also meet June 28-29 in Brussels for talks that are expected to focus on laying out a path for deeper fiscal and financial integration in the euro zone.

Mr. Montoro's comments come after Ms. Merkel on Monday suggested that EU leaders consider putting the largest banks in the 27-nation bloc under direct European supervision, opening the door to more centralized oversight of the region's financial sector.

The German proposal echoes a similar call from European Central Bank President Mario Draghi last week but stops short of endorsing more ambitious plans to safeguard the region's financial system by creating a so-called "banking union."

Under that idea, presented last week by the commission, there would be a Europe-wide depository insurance and other financial backstops.

Hobbled by an absence of credit due to the weakened state of a banking sector laden with bad property loans, Spain's economy has contracted in the past two quarters and the unemployment rate ran at 24.4% in the first three months of 2012, the highest in the European Union.

Data released Tuesday showed Spanish services activity fell in May at its fastest rate since November, the latest sign that the country's economy is still souring.

The purchasing managers' index for the services sector fell to 41.8 in May from 42.1 in April, according to a monthly survey conducted by Markit Economics, dropping further below the 50 threshold that means activity is shrinking. This was the 11th straight month in which service providers cut output, and there are few signs that activity will pick up again soon.

Concerns over Spanish government finances have pushed the cost of protecting its debt against default to records.

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Nuevos estudios revelan que los usuarios de FB estan menos tiempo en el site que hace 6 meses, ademas muchos de ellos no compran nada en FB.

FB +0.11%

JPM -0.13%

AAPL -0.33%

SCCO -0.99%

EPU -0.29%

C +0.24%

ERX +0.28%

EDC +0.02%

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El reporte de utilidades sera critico para FB. Levanta o se hunde.

+14

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A la baja

-16.61

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-12.49

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Au up 1,619.50

Euro down 1.2449

Oil down 83.90

-14.23

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-6.89

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Oil down 83.79

-10.19

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WPU -0.08%

BAP +0.18$

BVN -0.12%

SCCO -0.10%

EDC +0.11%

AAPL -0.15%

FB +0.97%