Weekly Performance
Dow+3.72% S&P+3.26% Nasdaq+2.61% Russel+4.60% Nikkei+4.03% Hang Seng+4.43% Shanghai+2.94% Brazil+4.90% EuroStoxx+5.25% FTSE+4.67% CAC+5,44% Dax+5.69% Ibex+7.35% MIB+4.03% SMI+1.93%
Global markets appear to be shaking off memories of August's China meltdown and terrible overall performance in September despite lingering fears about the world economy. US and European stocks saw very solid gains this week: the S&P500 notched its best weekly rise of 2015 with a 3.3% gain and the EuroSTOXX added 5.3%, its best week since before the Eurozone crisis. The action was driven by bargain hunting in beaten down commodity-related names, led by the continued snap back in Glencore and crude futures reaching a two-month high. The increased risk appetite among investors pushed up government bond yields on both sides of the Atlantic. ECB and Fed minutes detailed the central banks' fears about the global slowdown, but also exposed tones of confidence about their respective domestic economies, while the BoJ and BoE both followed the Fed's lead and held policy unchanged. China took most of the week off for its 'Golden Week', but officials in Beijing took time to express optimism that the mainland stock market crisis has subsided. Twelve other Pacific Rim nations reached an agreement on the ambitious TPP trade accord. Corporate earnings season has begun, with fears that US firms will see their third consecutive quarter of declining profits.
Macro :
- Russia May Cut Oil Export Tax to 36% From Sept Next Year: Tass
- China Stock Rally-to-Rout About to Repeat for Chartist Schroeder
- Spain Fin Min de Guindos: Reiterates view to meet 2015 budget deficit to GDP target of 4.2% and confident it will be below 3.0% in 2016
- ECB chief Draghi: Concerned about Greece debt sustainability; country needs element of debt relief, Debt relief would not be credible if not accompanied by strong ownership of bailout program by the Greek govt
- Fed's Fischer says 2015 U.S. rate rise 'an expectation, not a commitment' http://reut.rs/1Po5QFI
- Fischer voices caution on global risks to US outlook - http://on.ft.com/1Nzo4EU
- Renzi revives Italy’s €410bn wealth fund - http://on.ft.com/1ZrGYkX
- The Number Biotech Bargain Hunters Have to Watch - http://on.wsj.com/1jXjd3E
Keep an eye on :
- BP/ LN : BP CEO: Will Take Time for Oil Supply, Demand to Rebalance
- CSGN VX : Credit Suisse Plans as Much as CHF2B Cost-Cutting Program: SaS
- DBK GY : Deutsche Bank Said to Mull Sale of Abbey Life Insurance Unit (1)
- FCA IM : Ferrari Plans to Sell 17.2m Shares for $48-$52 in IPO
- GALP PL : Galp Says Eni Reduced Holding in Portuguese Oil Co. to 4.997%
- GLEN LN : Glencore Looks to ‘Streaming’ Deals for Quick Cash - http://on.wsj.com/1ZrHJKP
- Hasting IPO : Hastings Group IPO Priced at 170p, Values Co. at GBP1.12b
- SDF GY : K+S Confirms EU780m-EU860m Profit Goal: Frankfurter Allgemeine
- MEANR NA : Mota-Engil Africa Plans to Request Delisting of Shares, proposed E6,1235/sh vs 3.77 friday 62.43% premium
- UG FP : Peugeot Labor Union to Sue Carmaker Over Job Transfers: AFP
- PFV GY : Busch and Pfeiffer Vacuum speculated to be mid-term merge candidates
- Poste Italiana IPO : Poste Italiane Valued at Up to EU9.8b, IPO Starting Oct. 12
- ROG VX : Roche, Novartis Dismiss Merger or Big M&A in SRF1 Interview
- RWE GY : Germany’s Atomic Plant Operators Say Nuclear Provisions Suffice
- RDSA NA : Shell Plans 1Q Partial Shutdown at Qatar Gas-to-Liquids Plant
- SAB LN : SABMiller Backer Says Brewer Has Better Prospects Than AB InBev
- SAB LN : AB InBev Said to Make Improved Offer for SABMiller: Sunday Times
- SAB LN : Light Beer Gets in Touch With Serious Side http://on.wsj.com/1VM94b7
- SN/ LN : Olivier Bohuon insists Smith & Nephew can prosper on its own - http://on.ft.com/1ZrGv21
- SPD LN : Sports Direct CEO Criminally Charged Over USC Collapse: Guardian
- TUIG GY : TUI to Propose ‘Significant’ Dividend Increase: Euro am Sonntag
- UTIW US : UTI Worldwide Competing Bid Possible, Maxim Group Says
- VOW3 GY : Volkswagen to Cut Revamped Phaeton Model to Save Money: Spiegel
- VOW3 GY : Lower Saxony State Gov Seeks VW Corporate Culture Change: DPA