Weekly Update
Dow +0.06% S&P +0.24% Nasdaq +0.67% Russell Mexico +3.17% (+6.04% in $) Brazil -0.72% (+0.90% in $) Nikkei -0.42% (+1.42% in $) Hang Seng +3.15% CSI +0.52% Shanghai +0.77% EuroStoxx +0.94% (+1.56% in $) FTSE +1.12% (+3.06% in $) CAC +0.72% (+1.34% in $) Dax+1.10% (+1.72% in$) Ibex +2.39% MIB +2.12% SMI +0.33% (+1.61% in $)
While German Chancellor Merkel and President Trump met at the White House to discuss their differences, the stock market continued to post gains on Friday, and closed up on the week. Major indices had faltered when the week began, as investors keep looking for promised fiscal policy implementation to buy at higher prices. While most economic data this week was strong and better than expected, that alone was not enough to send equities to new highs. For the week the DJIA gained 0.1%, the S&P rose 0.2%, and the Nasdaq added 0.7%. Wednesday's FOMC meeting statement sent stock markets rallying again as the Fed framed a 25 basis point hike as a vote of confidence in the economy and reiterated it would raise rates gradually. The committee noted inflation is near the 2% target, but that it may also be willing to let inflation exceed that level for a while. Signals from Chair Yellen that interest rate normalization wouldn't happen faster than the economy could handle reassured buyers, as the market took on more risk, sending all major indices higher for the day. Those perceived reassurances on the speed of hikes didn't help bond prices, however, as fixed-income products sold off after the statement, reversing their rise from the beginning of the week.
Macro :
- China, U.S. Agree Korea Tensions at Dangerous Level: Tillerson
- U.S. Banks Fall to February Lows as Market Reverses Gains
- G-20 Nations Renew Commitment to Global Bank-Capital Overhaul
- Dubai Stocks Decline Most in Mideast as Emaar Falls: Inside EM
Keep an eye on :
- ADS GY : Adidas Sues Asics Over Patents for Fitness Tracking
- AZA IM : Alitalia’s Bank Investors in Talks on State Guarantee: Corriere
- AKZA NA : Elliott Said to Urge Akzo Nobel to Engage With PPG in Deal Talks
- AKZA NA : AkzoNobel could eye large-scale takeover or series of smaller acquisitions - telegraaf.nl
- ATC NA : Teads in talks with News Corp after rejecting offer from Altice
- AMGN US : Amgen’s Repatha Doesn’t Hurt Mental Ability, Study Shows
- AAL LN : Volcan Plans to Raise $2.4b Via Bond Sale for Anglo Stake: ET
- AAPL US : Apple’s Cook: Worst Thing We Can Do Is Say Globalization Bad
- MT NA : ArcelorMittal, Marcegaglia Said Offering EU1.6b for Ilva:Reuters
- ARYN VX : Aryzta to Cut Debt by EU1B, Chairman Tells Sunday Times
- AZN LN : AstraZeneca May Reduce U.K. Drug Research Program: Sunday Times
- BMPS IM : ECB Agrees to Paschi Extended Restructuring Plan: Messaggero
- BVN LN : Bovis bidder Redrow weighs revised offer; Galliard decides against bid - reports
- BLVN LN : BowLeven Chairman Seeking Offers for Company, Sunday Times Says
- KO US : Indian State Bans Sale of Coca-Cola Zero at McDonald’s: Times
- CSGN VX : Credit Suisse Said to Decide in April on Swiss Bank IPO: Reuters
- DBK GY : Deutsche Bank Review by ECB Shows Risk Management Weakness: Sole
- DBK GY : Deutsche Bank TERP ~EU15.79 Based on March 17 Price, Sale Terms
- DIS US : Disney Sees ‘Beauty and the Beast’ 3-Day Sales of $155m-$165m
- ELI BB : Elia Rises, Sofina Declines Ahead of BEL20 Index Reshuffle
- ENI IM : Eni CEO at Photovoltaic Plant Foundation Stone Laying in Algeria
- GXI GY : Gerresheimer Makes Preliminary Offer for Bormioli Rocco: Il Sole
- GBLB BB : GBL Raises Dividend 2.4%; Asset Rotation Cuts Cash Earnings 4.6%
- GKN LN : GKN May Issue GBP250m Bonds to Plug Pension Gap: Sunday Times
- LDO IM : Profumo Named Leonardo CEO as Italy Reshuffles State-Owned Firms
- MONC IM : Moncler to Focus on Commercial Network, Strengthen Retail: Sole
- PARG SW : Pargesa Swings to Loss on Engie Disposal, GBL Impairement
- RIO LN : Rio CEO Says Key Iron Ore Uncertainty Is Chinese Capacity: CNBC
- SFQ GY : SAF-Holland Looking at 1-2 Takeover Targets, Borghardt Tells BZ
- SIE GY : Siemens Boosts Commitment to U.S. After Meeting With Trump
- SNAP US : Snap’s Inclusion in FTSE Indexes Said Opposed by U.K. Investors
- SL/ LN : Standard Life CEO Defends Aberdeen Deal in Telegraph Interview
- SFM US : Sprout Farmers Market Climbs for Second Day; Upside Calls Active
- UHR VX : Swatch’s Tissot Aims to Double Stores in Japan: Nikkei
- SREN VX : Swiss Re rumoured to be eyeing UK acquisitions
- TESB BB : Picanol Unit Buys Additional EU0.39m of Tessenderlo Chemie Stock
- UBSG VX : UBS ‘Very Pessimistic’ About Settling Tax Case in France: JDD
- VIV FP : Vivendi CEO to Speak to Italy’s Agcom on March 23: Corriere
- VIV FP : Vivendi CEO Says Mediaset Misled Company During Talks: FT
- VOw3 GY : Volkswagen Seeks U.S. Market Share Gains: Automobilwoche
- VOW3 GY : Piech Sale of Porsche Stake May Be Finalized in April: Bild