HEXUS.sharewatch: Shares plunge but are recovering already

by Scott Bicheno on 10 May 2010, 13:03

Tags: NVIDIA (NASDAQ:NVDA), Nokia (NYSE:NOK), Hewlett Packard (NYSE:HPQ), Avnet (NYSE:AVT), ARM

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Greece is the word

In the globalised economy, the knock-on effects of potential sovereign debt default are far-reaching.

Last week saw some of the biggest falls on global stock markets since the recovery began, with the main cause being fears that Greece would be unable to service its crippling national debt. This morning, however, the European Commission and the IMF announced a €750 billion emergency fund and debt guarantee package, which is available to all EU countries.

This not only provides assistance for Greece, but for any other EU country should they reach a similar stage. It was the fear of other countries, such as Spain, Portugal and Ireland, potentially defaulting on their debts as well as Greece itself that has caused anxiety among the world's investors, so the European bail-out fund has done much to reassure them.

As a consequence, last week's large falls in global stock markets look set to be largely reversed today, with the FTSE already up around five percent and the French stock market up over eight percent.

All our tech stocks suffered last week, with ARM, Avnet, HP, Nokia and NVIDIA all experiencing double figure percentage falls. ARM and Nokia may have paid for being European companies, but many of the other biggest fallers, like Apple, may have experienced corrections after a prolonged rise in their share prices.

 

Company Listing Share price 18/4/10 Share price 25/4/10 Share price 2/5/10 Share price 9/5/10 7-day change Market cap (bn)
AMD AMD 9.81 9.76 9.07 8.38 -7.6% 5.64
Apple AAPL 247.40 270.83 261.09 235.86 -9.7% 214.62
ARM ARMH 11.05 11.89 11.43 10.23 -10.5% 1.69
Avnet AVT 31.85 32.81 31.97 27.49 -14.0% 4.17
Cisco CSCO 26.98 27.47 26.93 24.71 -8.2% 141.48
Dell DELL 16.76 17.50 16.20 15.01 -7.3% 29.39
Google GOOG 550.31 544.99 525.70 493.14 -6.2% 157.02
HP HPQ 53.75 53.90 51.97 46.73 -10.1% 109.59
IBM IBM 130.63 129.99 129.00 122.10 -5.3% 156.57
Ingram Micro IM 18.36 18.64 18.16 17.43 -4.0% 2.87
Intel INTC 23.92 24.04 22.84 21.31 -6.7% 118.57
Microsoft MSFT 30.67 30.99 30.53 28.21 -7.6% 247.23
Nokia NOK 14.94 12.76 12.16 10.75 -11.6% 40.26
Nvidia NVDA 17.06 16.44 15.71 13.96 -11.1% 7.94
Oracle ORCL 25.95 26.51 25.87 23.41 -9.5% 117.50
Qualcomm QCOM 42.74 38.25 38.68 36.50 -5.6% 59.87
Tech Data TECD 43.75 43.62 42.90 39.50 -7.9% 2.03
Dow .DJI 11018.66 11204.28 11008.61 10380.43 -5.7% N/A
FTSE 100 .FTSE 5743.96 5723.65 5553.29 5123.02 -7.7% N/A
NASDAQ .IXIC 2481.26 2530.15 2461.19 2265.64 -7.9% N/A


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