Weekly Perf.
Dow +0.77% S&P+0.90% Nasdaq+1.16% Russel-0.26% Brazil-3.81% Nikkei +0.83% Hang Seng +2.71% Shanghai +6.54% EuroStoxx +0.45% FTSE-0.59% CAC +0.03% Dax +0.08% Ibex -0.76% MIB +0.36% SMI +0.41%
Global equity indices closed out the week higher, digesting dodgy data and some weak corporate news to sustain the October rally. Two giant mergers in the beer and high tech industries overshadowed a slow start to the earnings season and a profit warning from Walmart. The US September retail sales report was particularly poor and the inflation data was shaky, adding weight to arguments the Fed would have a hard time hiking rates in 2015, while Chinese trade data was notably soft. Crude prices gave up most of last week's the gains, with WTI and Brent testing back to $45 and $50, respectively, as geopolitical fears wore off and oversupply reemerged as the overriding theme. The benchmark 10-year Treasury yield briefly moved below 2% for the second time this month and the 10-year TIPS breakeven rate moved back below 1.5%. For the week, the DJIA gained 0.8%, the S&P500 added 0.9% and the Nasdaq grew 1.2%.
Macro :
- Greece Must Complete Bank Recapitalization in 2015, Tsipras Says
- Economists still see Fed rate rise before year end (FT) http://on.ft.com/1Xd3uMd
- Will the US ever raise interest rates again? (FT) http://on.ft.com/1Xd3N9O
- Leader of Qaeda Cell Killed in Airstrike in Syria, Pentagon Says - NYT
- Japan's biggest association of labor unions, Japanese Trade Union Confederation, said to seek a 2% raise as part of annual spring wage negotiations - Nikkei
- The World Hits Its Credit Limit, And The Debt Market Is Starting To Realize That - ZH - http://bit.ly/1Xd6doM
Keep an eye on :
- ABBN VX : ABB Is Planning to Cut Jobs, Schweiz am Sonntag Reports
- ABI BB : Coca-Cola is next target of Anheuser-Busch InBev’s Lemann - IstoE Dinheiro
- ACS SM : ACS Group Reaches Financial Close on M11 Project in Ireland
- AAL LN : Anglo American to Cut 120-140 People From Chile Unit: Mostrador
- AREVA FP : Areva to Sign Accord With Unions on Job Cuts on Oct. 19: AFP
- POP IM : Pop Milano May Want to Accelerate on Merger Options: Corriere
- BARC LN : Barclays pushes to shrink investment bank - http://on.ft.com/1LSKoJh
- BSLN SW : Basilea Pharmaceutica Files for U.S. IPO Via Cowen, Guggenheim
- CDI FP : Christian Dior 1Q Rev. EU9.05b vs EU7.8b Y/y
- DCG LN : Dairy Crest to become more attractive takeover prospect following regulators’ ok for milk-unit sale this week - Sundfay Tiumes
- DBHN GY : Deutsche Bahn to Cut Jobs, May Sell Arriva Stake, CEO Tells Welt
- DBK GY : Deutsche Bank Announces Plan to Change Organizational Structure
- DBK GY : Deutsche Bank May List Postbank as Early as Spring 2016: Welt
- DWN GYU : Deutsche Wohnen Investors Advised by ISS to Reject LEG Deal
- EDF FP : EDF in Final Talks With Chinese Partners on U.K. Nuclear Plant http://on.wsj.com/1Xd4XlK
- EDF FP : UK plant deal hinges on ambitions of London, Beijing and EDF
- ENGI FP : Engie Hires Ex-Citi Trader Parasram as Head of Financial Oil
- FCA IM : Ferrari IPO Said to Be Oversubscribed
- HSBA LN : HSBC to Keep London HQ, Times Cites Shareholders, Insiders
- OSR GY : Cree Gains Edge at Trial Targeting LEDs; Shares Pare Decline
- PAH3 GY : Porsche’s Winterkorn to Cease as Member, Chairman of Exec. Board
- SPM IM : Saipem Banks Weigh Refinance Plans Based on Future Ratings: Sole
- SRS IM : Saras Sees Total Ebitda of EU690m in 2016, EU730m in 2019
- GLE FP : Soc Gen CEO Says Strategy Doesn’t Include New Retail Mkts: Sole
- SYNN VX : group of Syngenta shareholders plans a public push for a broad strategic review http://on.wsj.com/1Pxpy1I
- TSM US : Lowers 2015 outlook for semiconductor industry to flat from +3% - Press
- TEG GY : TAG Won’t Take Part in Real-Estate M&A Amid High Prices: EamS
- TKA AV : Austria Plans to Sell Remaining Telekom Austria Stake: Kurier, Telekom Austria shareholder OBIB denies exit rumours
- TIT IM : Telecom Italia Reviewed Metroweb Deal With FSI, F2i Funds
- UBSN VX : Swiss Capital Rules to Be ‘Manageable’ for UBS, CS: NZZ
- VISA Europe : Visa Europe Deal May Be Announced as Early as Next Week: FT
- VOW3 GY : VW’s Japanese Sales Seen Falling 30% in Early Oct.: Nikkei
- WIN GY : Wincor May Be Getting Ready for Possible Sale: Manager Magazin ( Frid. Night)
- WIN GY : Diebold in Talks With Wincor Nixdorf on Potential Transaction (Saturday)
- ZEHN SW : Zehnder CEO Berchtold Sees Signs of Better Business in 2016: FuW