I mercati oggi

US Market Reports
Stocks Moving Mostly Lower In Late Morning Trading

Stocks have moved mostly lower over the course of morning trading on Tuesday, extending the notable downward move seen in the previous session. The major averages have all slid into negative territory after showing a lack of direction earlier in the day.

The weakness that has emerged on Wall Street comes as traders continue to cash in on the recent strength in the markets following last Friday's disappointing jobs report. Uncertainty about the upcoming earnings season has also generated some selling pressure.

Alcoa is scheduled to release its first quarter results after the close of trading, with the release of results from the aluminum giant seen as the unofficial start of earnings season.

Health insurance stocks have come under pressure on the day, extending the steep downward move seen in the previous session. The Morgan Stanley Healthcare Payor Index is down by 1.6 percent after ending Monday's trading down by 7.2 percent.

Considerable weakness has also emerged among transportation stocks, as reflected by the 1.3 percent loss being posted by the Dow Jones Transportation Average. Overseas Shipholding Group (OSG) and Con-Way (CNW) are turning in two of the sector's worst performances.

Steel, oil service, electronic storage, and healthcare provider stocks are also posting notable losses in late morning trading.

The major averages have seen some further downside in recent trading, hitting new lows for the session. The Dow is down 78.60 points or 0.6 percent at 12,850.99, the Nasdaq is down 11.38 points or 0.4 percent at 3,035.70 and the S&P 500 is down 7.41 points or 0.5 percent at 1,374.79.

New CIO Journal. Try it Free for 4 weeks.

Canadian Market Report

CADUSD Oil Gold Allbanc

Please click on the images to view our interactive charts
TSX Flat Amid Weak Commodities, Value Buying - Canadian Commentary

Canadian stocks were struggling for direction Tuesday morning amid weak commodities and on worries over global economic growth. Soft trade data out of China earlier today and disappointing jobs data from the US last week rekindled global economic growth concerns.

However, value buying after four straight days of losses supported stock prices.

The S&P/TSX Composite Index shed 21.53 points or 0.18 percent to 11,996.97, after losing nearly 500 points or 4 percent in the past four straight sessions.

The price of Crude oil was extending losses for a second session Tuesday morning after data showed that China unexpectedly swung to a trade surplus in March, which raised concerns about oil demand growth in the world's second-biggest consumer. China recorded a $5.35 billion trade surplus in March as import growth eased back from a 13-month peak while exports grew faster than expected, customs data showed. Crude for May delivery was down $0.69 to $101.77 a barrel.

Oil and gas industry services provider GASFRAC Energy Services (GFS.TO) dived over 18 percent after announcing that revenues and profit before income taxes for the first quarter of 2012 are expected to be lower than for the fourth quarter of 2011.

Calfrac Well Services and Trican Well Services shed around 4 percent each.

TriOil Resources Ltd. (TOL.V) lost over 6 percent despite reporting a narrower fourth quarter net loss of C$13.19 million or C$0.37 per share compared to a net loss of C$37.93 million or C$1.38 per share last year.

The price of gold was moving lower, with gold for June losing $6.50 to $1,637.40 an ounce.

Among gold plays, Royal gold and Barrick gold were up around 1 percent each.

Precious metals miner Premier gold Mines (PG.TO) added nearly 2 percent after it said it would acquire the high-grade Cove gold Project in Nevada for approximately $28 million.

Bombardier inaugurated a new office in Shanghai, which will be home to the Bombardier Commercial Aircraft teams working with the Commercial Aircraft Corporation of China Ltd., Bombardier Aerospace's Supply Chain organization in China, and is the headquarters for the Bombardier Commercial Aircraft sales and marketing team for China and North Asia. The stock eased over 1 percent.

Meanwhile, the Diversified Materials Index was up nearly 2 percent, with First Quantum Minerals gaining nearly 4 percent.

Augusta Resource Corp. (AZC.TO) moved up 18 percent after announcing the receipt of major permit for Rosemont Copper project

In economic news from south of the border, the U.S., Commerce Department's figures put the level of inventories for wholesalers at a seasonally adjusted level of $478.9 billion in February, reflecting a 0.9 percent increase from January levels. Most economists had expected a more modest 0.6 percent increase in inventories. Furthermore, January figures, which had initially shown a 0.4 percent increase in inventories, were upwardly revised to show 0.6 percent growth.

From the euro zone, Germany's merchandise trade surplus increased more than economists expected in February, data released by the Federal Statistical Office showed. The trade surplus increased to EUR14.7 billion in February from EUR11.9 billion a year earlier. Economists were looking for a trade surplus of EUR12 billion. On a seasonally adjusted basis, the trade balance was a surplus of EUR13.6 billion.

Trade Free for 60 Days at ETRADE Securities
Click here



European Market Report

FTSE 100 Euronext Dax perf CAC 40

Please click on the images to view our interactive charts
European Shares Seen Subdued After US Jobs Data

European stocks are set to fall on Tuesday, as investors digest weaker-than-expected U.S. jobs report, which was released while the markets were closed on Friday. The major European markets remained shut on Monday too for Easter holiday.

Global equities and Crude oil fell on Monday after data last week showed U.S. employers had added fewer jobs than forecast in March. Non-farm payroll employment increased by 120,000 jobs in the month, far fewer than in previous months, while the unemployment rate edged down 0.1 percentage point to 8.2 percent, as workers left the labor force.

U.S. stocks ended notably lower overnight in the wake of Friday's disappointing jobs report. The Dow lost a percent, while the tech-heavy Nasdaq and the S&P 500 shed around 1.1 percent each. Asian markets are trading mixed, paring early gains, as global growth concerns continued to keep investors at bay.

On the macroeconomic front, China unexpectedly posted a trade surplus in March, as import growth slowed significantly despite government's efforts to shift towards domestic consumption-led economic growth. The Bank of Japan, meanwhile, kept its benchmark interest rate and stimulus programs unchanged and said the economic activity is showing signs of picking up.

Closer home, house prices in the United Kingdom improved in March, according to survey results released by the Royal Institution of Chartered Surveyors. The RICS Home Price Balance for March rose to minus-10 from minus-13 in February. The March reading was the strongest since June 2010.

In corporate news, oil giant BP Plc plans to name Scott Sloan as its Russia president replacing Jeremy Huck, who will move to the oil giant's headquarters in London, reports said quoting a spokesman.

Illumina's board recommended that stockholders reject Roche's offer and vote for the election of Illumina's highly qualified nominees at its 2012 annual meeting of stockholders.

Nobody analyzes Stocks like VectorVest.
No Hunches. No Guesswork. No Opinions. Analyze Any Stock Free! Click Here

Asia Market Reports
Asian Shares End Mixed As Growth Concerns Linger

Asian shares ended on a mixed note on Tuesday, as mixed views about China's trade data, no additional stimulus from the Bank of Japan and renewed concerns that the U.S. labor market recovery is still slow prompted investors to adopt a cautious stance. Reviving speculation that the U.S. Federal Reserve may offer additional stimulus to kick-start demand and spur jobs growth helped limit the downside to some extent.

After disappointing U.S. jobs data, investors now eagerly await U.S. corporate earnings and Chinese first-quarter GDP figures, due on Friday for near-term directional cues. Commodities traded mixed, with oil extending losses, while copper and gold gained ground, as traders bet on the likelihood of another round of stimulus. The dollar fell to a one-month low against the yen after the Bank of Japan said in a statement accompanying the policy decision that no one proposed expansion of stimulus at the meeting.

Tokyo stocks fell as the Bank of Japan's decision not to implement additional monetary easing measures strengthened the yen, prompting selling in exporters like Sony and Panasonic. Shares of Sony tumbled 3.5 percent while those of Panasonic slumped 4 percent. Sharp slumped 4.3 percent after a Nikkei report said the electronics maker will likely post a larger consolidated net loss of about 390 billion yen for the 2011 fiscal year, hurt by poor sales of televisions and solar sales. The company confirmed the news after the markets closed.

Offsetting these losses to some extent, Toyota Motor rose 1.5 percent following its announcement of a new framework for vehicle development in order to speed decision making. Nissan Motor gained 0.6 percent and Nikon edged up 0.3 percent. The Nikkei average slipped 0.1 percent following Monday's 1.5 percent loss, while the broader Topix index ended little changed.

Kansai Electric Power climbed 3.4 percent after the company said it will invest more than 200 billion yen to improve safety measures at its 11 nuclear reactors against earthquakes, tsunami and other accidents. Realty stocks ended mixed, with Mitsui Fudosan rising 0.6 percent, while Mitsubishi Estate fell 0.7 percent after the Bank of Japan dashed hopes for fresh easing measures.

Following the end of its two-day monetary policy meeting, the Bank of Japan today maintained its benchmark interest rate near zero and refrained from announcing additional stimulus saying "Japan's economic activity has shown some signs of picking up, although it has remained more or less flat." Japan faces the critical challenge of overcoming deflation and this goal will be achieved through efforts to strengthen the economy's growth potential and support from the financial side, the bank said in the statement.

China's Shanghai Composite index rose 0.9 percent, with banks leading the gainers, as weaker-than-expected March import growth data stoked speculation that the government will likely ease policy in the near term. While exports rose 8.9 percent from a year earlier to $165.6 billion in March, imports rose just 5.3 percent to $160.31 billion, resulting in an unexpected $5.35 billion trade surplus last month after a hefty deficit in February, data from the General Administration of Customs showed today. Hong Kong's Hang Seng index fell 1.2 percent as trading resumed after a four-day holiday weekend.

Australian shares ended off their day's lows after data showed China unexpectedly returned to a trade surplus in March. The benchmark S&P/ASX 200, which resumed trading after a four-day break, ended down 0.6 percent, while the broader All Ordinaries index shed 0.7 percent.

BHP Billiton, which last month warned that Chinese demand for iron ore is "flattening out" ended down 0.6 percent, while Rio Tinto shed shed 0.7 percent and Fortescue fell 1.4 percent. Energy shares lost ground, with Santos, Woodside and Oil Search falling 1-2 percent. Paladin Energy climbed 3 percent after the Uranium miner widened a strategic review. Austar shares jumped 2.7 percent after the competition regulator approved pay television giant Foxtel's $2 billion acquisition of the firm.

Shares of Telstra, Foxtel's largest shareholder, and Consolidated Media ended flat, while News Corp. fell 1.7 percent. Builder Leighton Holdings lost 1.6 percent after data showed Australia's construction sector remained in sharp contraction in March despite a slight pick up in activity, according to survey results published by the Australian Industry Group.

South Korea's Kospi average slipped 0.1 percent in thin trading, as investors moved to the sidelines ahead of some crucial events, including South Korean parliamentary elections on Wednesday and an impending launch of a satellite by North Korea sometime between April 12 to 16. Automakers snapped recent gains, with Hyundai Motor falling 2.8 percent and Kia Motor ending down 2.5 percent, while SK Innovation, South Korea's largest oil refiner, and builder Samsung Engineering rose over a percent each.

New Zealand shares rose modestly in thin trading, erasing initial losses, as investors hunted for bargains in blue-chip stocks. The benchmark NZX-50 index gained 0.2 percent. SkyCity Entertainment Group advanced 1.8 percent, Telecom rose 1.6 percent and Contact Energy gained 0.6 percent. Exporter Fisher & Paykel Healthcare ended 0.9 percent higher as the New Zealand dollar pared gains following trade data from China, which painted a mixed picture of growth in the world's second-largest economy.

Fletcher Building, the nation's largest construction company, lost a percent as investors assessed the possibility of slower growth in view of continued delays to Christchurch's rebuild. Shares of would-be bank Heartland tumbled 4 percent on news that its chief financial officer Sean Kam has resigned.

Elsewhere, India's Sensex was last trading little changed and Indonesia's Jakarta Composite edged down marginally, while Malaysia's KLSE Composite rose 0.4 percent, Singapore's Straits Times index gained 0.6 percent and the Taiwan Weighted average ended up half a percent.

On Wall Street, the major averages lost around a percent each overnight in the wake of Friday's disappointing jobs report