WELLINGTON, Jan 11 (Reuters) - Asian stocks are set to open steady on
Tuesday as hopes for a solid earnings season helped counter nagging fears that
Portugal will be the next euro zone member needing a bailout.
U.S. stocks recovered from early losses on light volumes to end largely flat with the Dow Jones industrial average closing down 0.3 percent but the broader Standard & Poor's 500 Index just 0.1 percent lower and the tech-laden Nasdaq Index gaining nearly 0.2 percent.
The market's upward trend is still seen intact although the S&P's third negative close in a row suggests momentum has stalled. But analysts are also looking to the earnings season to rekindle the rally.
Sentiment was also boosted by merger and acquisition activity, with deals announced on Monday including Duke Energy Corp agreeing to buy Progress Energy Inc for $13.7 billion in stock, and DuPont plans to buy Danisco, a Danish food ingredient firm, for $5.8 billion. For details see.
The euro zone debt worries weighed on British and European stocks, with weaker metals pricing also a negative for miners. The FTSE 100 index ended down 0.5 percent, while the pan-European FTSEurofirst 300 index of top shares fell 1 percent.
Asian stocks listed on Wall Street fell 0.08 percent.
Japanese markets are back in action after Monday's public holiday, with the benchmark Nikkei index sitting at an eight-month high. The index is seen up near resistance levels at 10,551.69, but futures suggest a soft open, and the 0.5 percent fall of the dollar against the yen will not help the share of exporters.
Nikkei futures traded in Chicago 70 points below the last closing level in Osaka.
Australian stocks are seen flat helped by Wall Street's steady close, and U.S. aluminium maker Alcoa's solid output. Share price index futures slipped 0.3 percent to 4,688, a 24.3 point discount to the close of the underlying S&P/ASX 200 index.
HEADLINES: > Duke Energy to buy Progress Energy for $13.7 bln > ECB gives Portugal temporary lifeline, traders say > Alcoa fourth-quarter profit rises on higher demand > Sarkozy assures Obama he sees dollar as 'No. 1' > World central banks vow to tackle inflation threat > Intel pays Nvidia $1.5 billion in license dispute > California's Brown unveils 'painful' budget cuts > Oil jumps on shut Alaska pipeline, cold snap > Deal bonanza heralds optimism for 2011 M&A > Morgan Stanley to spin off prop trading unit > Mixed signals as Detroit auto show opens > Nielsen's IPO audience should look on warily > EU shoemakers drop call to extend Asia shoe tariff
KEY INDEXES pct change
Bank of New York Asia ADR index -0.08
Dow Jones Industrial Average -0.32
Nasdaq Composite Index +0.17
Nikkei futures in Chicago 10,480
Nikkei futures in Osaka 10,550
TOP ASIA EVENTS:
For more Asian company earnings, see ASIA/EQTY
JAPAN - Finance Minister Yoshihiko Noda news conference.
- Foreign reserves, December
- Leading indicators, November
HONG KONG - Sumpo Food Holdings Ltd trading debut
CHINA - Urban property prices
AUSTRALIA - Trade balance, goods and services
(Reporting by Gyles Beckford)
((gyles.beckford@reuters.com; +64-4-4714234; Reuters Messaging: gyles.beckford.reuters.com@reuters.net)) For top Asian company news, double click on: U.S. company news European company news U.S. weekly outlook European weekly outlook Forex news Global Economy news Tech/Telecoms/Media Banking news Political/General news Asia Macro data ASIA STOCK MARKETS: Pan-Asia........ Japan....... S.Korea... S.E. Asia....... Hong Kong... Taiwan.... Australia/NZ.... India....... China..... DIARIES & DATA: IPO diary/data Asia earnings diary U.S. earnings diary European diary Hong Kong diary Wall Street Week Ahead Eurostocks Week Ahead LIVE PRICES & DATA: World Stocks Asian Stocks Dow Jones/NASDAQ / Nikkei FTSE 100 Debt Currency rates Keywords: MARKETS ASIA/ (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2011. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
U.S. stocks recovered from early losses on light volumes to end largely flat with the Dow Jones industrial average closing down 0.3 percent but the broader Standard & Poor's 500 Index just 0.1 percent lower and the tech-laden Nasdaq Index gaining nearly 0.2 percent.
The market's upward trend is still seen intact although the S&P's third negative close in a row suggests momentum has stalled. But analysts are also looking to the earnings season to rekindle the rally.
Sentiment was also boosted by merger and acquisition activity, with deals announced on Monday including Duke Energy Corp agreeing to buy Progress Energy Inc for $13.7 billion in stock, and DuPont plans to buy Danisco, a Danish food ingredient firm, for $5.8 billion. For details see.
The euro zone debt worries weighed on British and European stocks, with weaker metals pricing also a negative for miners. The FTSE 100 index ended down 0.5 percent, while the pan-European FTSEurofirst 300 index of top shares fell 1 percent.
Asian stocks listed on Wall Street fell 0.08 percent.
Japanese markets are back in action after Monday's public holiday, with the benchmark Nikkei index sitting at an eight-month high. The index is seen up near resistance levels at 10,551.69, but futures suggest a soft open, and the 0.5 percent fall of the dollar against the yen will not help the share of exporters.
Nikkei futures traded in Chicago 70 points below the last closing level in Osaka.
Australian stocks are seen flat helped by Wall Street's steady close, and U.S. aluminium maker Alcoa's solid output. Share price index futures slipped 0.3 percent to 4,688, a 24.3 point discount to the close of the underlying S&P/ASX 200 index.
HEADLINES: > Duke Energy to buy Progress Energy for $13.7 bln > ECB gives Portugal temporary lifeline, traders say > Alcoa fourth-quarter profit rises on higher demand > Sarkozy assures Obama he sees dollar as 'No. 1' > World central banks vow to tackle inflation threat > Intel pays Nvidia $1.5 billion in license dispute > California's Brown unveils 'painful' budget cuts > Oil jumps on shut Alaska pipeline, cold snap > Deal bonanza heralds optimism for 2011 M&A > Morgan Stanley to spin off prop trading unit > Mixed signals as Detroit auto show opens > Nielsen's IPO audience should look on warily > EU shoemakers drop call to extend Asia shoe tariff
KEY INDEXES pct change
Bank of New York Asia ADR index -0.08
Dow Jones Industrial Average -0.32
Nasdaq Composite Index +0.17
Nikkei futures in Chicago 10,480
Nikkei futures in Osaka 10,550
TOP ASIA EVENTS:
For more Asian company earnings, see ASIA/EQTY
JAPAN - Finance Minister Yoshihiko Noda news conference.
- Foreign reserves, December
- Leading indicators, November
HONG KONG - Sumpo Food Holdings Ltd trading debut
CHINA - Urban property prices
AUSTRALIA - Trade balance, goods and services
(Reporting by Gyles Beckford)
((gyles.beckford@reuters.com; +64-4-4714234; Reuters Messaging: gyles.beckford.reuters.com@reuters.net)) For top Asian company news, double click on: U.S. company news European company news U.S. weekly outlook European weekly outlook Forex news Global Economy news Tech/Telecoms/Media Banking news Political/General news Asia Macro data ASIA STOCK MARKETS: Pan-Asia........ Japan....... S.Korea... S.E. Asia....... Hong Kong... Taiwan.... Australia/NZ.... India....... China..... DIARIES & DATA: IPO diary/data Asia earnings diary U.S. earnings diary European diary Hong Kong diary Wall Street Week Ahead Eurostocks Week Ahead LIVE PRICES & DATA: World Stocks Asian Stocks Dow Jones/NASDAQ / Nikkei FTSE 100 Debt Currency rates Keywords: MARKETS ASIA/ (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2011. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.