Here Are The Key Market Moving Events For Monday, February 27, 2012

david michelangelo italyItalian business confidence will be released at 4:00 a.m. EST, a key announcement in Europe.


Monday starts a busy week with a whimper. There are only a few major earnings announcements scheduled for the day, and the market has few economic releases to digest. The important announcements of the day include pending home sales in the U.S. and Italian business confidence.Here’s what you need to know.

  • Hungary starts the day off early with economic sentiment at 6:00 p.m. EST on Sunday evening. Past readings of sentiment came in at -26.8, while business confidence stood at -16.8. A reading below zero indicates pessimism.
  • At 7:01 p.m. EST, British property analysis company Hometrack will announce its February survey. January’s results showed no change in home prices in January.
  • Announcements go quiet, until 2:00 a.m. EST on Monday morning when Finland releases consumer confidence. Economists predict the key index will increase to 4, from an earlier reading of 3.4. They also see business confidence ticking up to -7 from -8.
  • French producer prices follow at 2:45 a.m. EST, with expectations for a month-on-month rise of 0.4 per cent in January.
  • At 4:00 a.m. EST, Italian business confidence will be announced. Economists forecast the index will be unmoved from January’s reading of 92.1. A reading below 100 indicates pessimism.
  • Attention shifts to North America at 10:00 a.m. EST, when pending home sales are released in the U.S. January pending sales are seen increasing 1.0 per cent, reversing December’s 3.5 per cent decline.
  • U.S. announcements continue at 10:30 a.m. EST, with the Federal Reserve Bank of Dallas reporting manufacturing activity in the 11th federal district, which includes Texas, northern Louisiana, and southern New Mexico. Expectations are for the index to move slightly higher to 15.5, from 15.1. A reading above zero indicates economic expansion.
  • Israel will announce any changes to its base rate at the same time. Economists polled by Bloomberg expect the benchmark rate to remain at 2.5 per cent.
  • Closing out the day at 4:00 p.m. EST is the release of Colombian industrial production. December production is seen increasing 5.6 per cent year-on-year.

Below, a roundup of tomorrow’s big announcers. 

Quicksilver Resources (KWK): $0.01
Visteon (VC): $0.79
Charter Communications (CHTR): -$0.17
Salix Pharmaceuticals (SLXP): $0.93
Southwestern Energy (SWN): $0.47 (PCLN): $5.05
Chemtura (CHMT): $0.11
Human Genome Sciences (HGSI): -$0.41
Amyris (AMRS): -$0.74
Dendreon (DNDN): -$0.60
Lowe’s (LOW): $0.23
URS (URS): $0.98
AES (AES): $0.22

Consensus estimates provided by Bloomberg. 

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