Weekly Performance
Dow+1.21% S&P+1.11% Nasdaq+0.67% Russell+0.52% IBovespa+1.13% Nikkei-0.45% Hang Seng+0.11% Shanghai -2.22% EuroStoxx+1.20% CAC+0.81% Dax+0.07% Ibex+3.17% MIB+3.88% FTSE-0.96%
China and the ECB set the tone for global markets this week. Last weekend, the Chinese leadership disclosed their economic projections for 2016 at the National People's Congress (NPC), unveiling a GDP target range of 6.5-7.0%, as well as a higher fiscal deficit level. China left its CPI target at +3%, and cut its fixed asset investment growth to 10.5% from 15% prior. The changes were largely in line with expectations, although enthusiasm was tempered by the very weak February China trade report out later in the week. On Thursday, the ECB launched another round of monetary policy stimulus, cutting all three of its key policy rates and adding to its monthly QE bond buying scheme. Mario Draghi warned markets that there would not be much more easing on tap from the ECB, while simultaneously claiming that the ECB was not out of ammo. Thursday was the seventh anniversary of the current bull market, as measured from the Monday following the S&P500's ominous bottom at 666 on Friday, March 6th 2009. US markets were flattish and devoid of much major news (beyond the continuing political circus of the presidential nominating contest) until Friday, when stocks surged higher. For the week, the DJIA added 1.2%, the S&P500 gained 1.1%, and the Nasdaq rose 0.7%.
Macro :
ECB Giving ‘Final Shove’ to End Crisis: ABI Head to Messaggero
EU Says China Gave Some Clarity on Steel Cuts, Must Do More
U.K. to Cut Welfare by GBP1.2b by 2020: Telegraph
ECB Measures to Spur More Lending, UniCredit CEO Says: Stampa
Keep an eye on :
- ALV GY : Allianz 2015 Board Compensation Almost Doubles to EU57 Mln: BZ
- AZN LN : AstraZeneca CEO Said to Face Shareholder Revolt Over Pay: Times
- EN FP : Bouygues, Orange Close to Deal, Les Echos Reports - http://bit.ly/1QQVfEr
- CBK GY : Martin Zielke Named as New CEO of Commerzbank - WSJ
- DRTY LN : Fnac Planning to Improve Offer for Darty: Journal du Dimanche
- DB1 GY : LSE, Deutsche Boerse Deal Could Be Announced Monday, Times Says
- EDF FP : EDF Seeks French Govt Financial Support on U.K. Plant: FT
- EDF FP : EDF’s Hinkley Deal ‘Outrageously Expensive’, Ineos Tells Times
- ENEL IM : Enel to Decouple Its Gas-Supply Contracts From Oil Price: Welt
- ENI IM : Eni’s Goliat Starts Producing, Stavanger Aftenblad Reports
- EOAN GY : Germany Worried About Hacker Attacks on Utilities: Tagesspiegel
- FERR IM : Ferrero’s Reorganization to Start in May, Sole Reports
- TFM US : Apollo Global Said to Near Deal to Buy Fresh Market: Reuters
- INW IM : Inwit 2015 Adj. Net EU83.9m vs Pro-Forma EU82.2m Y/y
- UG FP : FFP CEO Says Peugeot Stake to Remain Stable, Les Echos Reports
- RBS LN : RBS Cut 550 Jobs, Replace People With ‘Robo-Advisers’: FT
- RWE GY : Germany Worried About Hacker Attacks on Utilities: Tagesspiegel
- SBRY LN : Sainsbury Set to Raise Bid for Argos Parent to GBP1.5b: Mail
- SIKA VX : Saint-Gobain, Burkard Family Extend Validity of Agreement
- SKAB SS : Skanska Said to Sell Stake in London M25 Contract: Sunday Times
- WWP LN : WPP’s Sorrell May Be Awarded GBP60m in Bonus, Sunday Times Says
- ZEG LN : Zegona Said to Offer More Than EU500m for Yoigo, Expansion Says