Asian markets in boom, among others


Overview: Stock Markets all over the world

The 600 stock exchange PR.EUR (INDEXSTOXX:SXXP) climbed just a bit at 310.81 points, after it experienced on Wednesday one of its biggest one day losses in a couple of months. The FT Stock Exchange 100 index gained 0.3%, soaring up to a whooping 6,458.22 in London, United Kingdom. As far as Germany’s DAX stock exchange 30 Index is concerned, with a slight increase of 0.1%, it rose to 8,633.88. France’s stock exchange, the CAC 40, has witnessed a decline of 0.4%, index reducing down to 4,143.54.

The services sector has remained sturdy in the month of September; hence UKs own PMI achieved the best quarter performance mark for the first time in over 16 years. Because of the sturdy performance, instead of dropping to 59.4 as projected by analysts, the index dropped from 60.5 to 60.3, only 0.2 points.

Overall in Asia, stocks have witnessed a boom, especially in countries like Pakistan and India, after reports came into light revealing excellent progress in China’s service sector. In China, the Non-Manufacturing index of purchasing managers rose from 53.9 to 55.4 in September within a month, reaching the highest point in six months. Anything above 50 in such an index is regarded as an indication of overall growth.

As far as the composite PMI is concerned, in August it stood at 51.5, then rose to 52.2 in the month of September, its highest point in 27 months. This is much better than the forecasted 52.1 point which was published just a week before.

Company-Wise Analysis

As far as insurance companies are concerned, Aviva plc (code-named LON:AV )has gained almost 2.2% shares after the famous insurance company broke news of its excellent US annuities business sale, valued at $2.6 billion (much better than the declared forecast in December projecting the sale at $1.8 billion) in the London Stock Exchange.

Schneider Electric’s shares have witnessed a decline of 2.5% after another company Exane BNP brought the company’s stocks from outperform to neutrality in the index of CAC 40 of France. This decline has solely and very negatively affected the France Stock Exchange’s index, resulting in its decline for the day.

Concurrently, BP plc in the NY Stock Exchange has had its shares rise up by 1.2%.

Veeva Systems Incorporated has declared its shares face value to the public, estimating the sale of 13 million of its shares at face value of somewhere in between the $12-$14 mark initially. The stockholders at Veeva Inc are also offering 3.3 million shares for sale concurrently with the soon-to-be listed company, but the company will not get the proceeds of such shares. The company will only get from the other 9.7 million Class A shares. The company has seen and declared financial reports depicting excellent growth, with the report at the year ended Jan 31 showing $18.8 million, much better than the $4.2 million figure it had just the previous year. However, it must be noted that revenue doubled as well for the company, which shows increase in operations by a great margin.