Good economic data lifts US markets

MARKET OUTLOOK

- US: US markets rose last week thanks to good economic data. Stocks from health care equipment, materials and media outperformed the market while pharma and bio and automobile stocks lost ground. Technically, the consolidation should continue during the week.

- EUROPE: European markets rebounded during the last week. All sectors closed the last week on a positive note helped by stocks from construction and materials, industrial goods and services and financial services. The retail sector remained flat over the week. Technically, major European indexes should remain under pressure in the forthcoming days.

COMPANY PREVIEW

Goldman Sachs (USD 205.1 ; 5.45% ; GS ; GS.N)

Goldman Sachs is expected to announce on Tuesday its 4Q/Nov results before market opens. EPS is expected to reach $6 ($3.35 a year ago). The group kicks-off the 4Q earnings season for the investment banks and is expected to show a solid performance in all business segments. Analysts will have a special look at results in prime brokerage, mergers and acquisitions, underwriting/syndicate, asset management, and trading.

Inditex (EUR 38.6 ; 3.71% ; ITX ; ITX.MC)

On Wednesday, Inditex reports its quarterly earnings. Last year, 3Q net income reached E274.3m and sales E1.83bln. Last Thursday, the stock was raised to E38 from E34 by Deutsche Bank.

Immoeast Immobilien Anlagen (EUR 10.4 ; 1.96% ; IEA ; IEA.VI)

Thursday, Immoeast Immobilien Anlagen should release its 2Q/Oct results. Last quarter, the group reported that net income rose to E75.9m from E54.7m a year earlier and revenue increased 44% to E117.8m. The Co recently acquired various properties, such as a commercial centre in Croatia for E40m on Dec 7, a Retail Centre in Romania for E210m on Nov 17 and office buildings in Prague for E70m.

Lehman Brothers Holdings (USD 77.03 ; 5.02% ; LEH ; LEH.N)

The same day, Lehman Brothers is seen reporting 4Q/Nov EPS of $1.66 ($1.38 a year ago). Last Friday, the group sold an 11.79% stake in Japanese supermarket operator Daiei to domestic and overseas institutional investors.

Costco Wholesale (USD 53.69 ; 2.85% ; COST ; COST.O)

Finally, Costco Wholesale will report earnings the same day. The group is seen delivering 1Q/Nov EPS of $0.5 ($0.46 a year ago) on a revenue of $14.06bln ($12.93bln). On November 30, the group reported November net sales up 9% to $4.84bln and said that for the first thirteen weeks, net sales increased 8% to $14.99bln.