Weekly Update
Dow +0.59% S&P+0.52% Nasdaq-0.65% Russell+1.39% Nikkei+4.30% Hang Seng+0.71% Shanghai-3.86% EuroStoxx+2.84% CAC+1.66% Dax+3.20% Ibex+4.31% MIB+2.35% SMI+1.18% FTSE-0.53%
The S&P500 pushed out to four-month highs intraday on Wednesday, putting them within points of all-time highs. Crude prices did not plummet after the OPEC/non-OPEC production freeze talks disappointed in Doha, helping to hold up broader indices. Interest rates in Europe and the US have quietly backed up to their highest levels in almost a month suggesting money is finding its way out of sovereign bond markets and buoying equity valuations as well. Friday saw a soft April US Markit PMI manufacturing reading weigh on sentiment, and along with renewed skittishness about global central bank policies and a round of particularly weak US earnings reports took things lower. For the week, the DJIA gained 0.6%, the S&P500 added 0.5%, while the Nasdaq fell 0.6%.
Macro :
- Schaeuble Sees No Greece Debt Relief as Long as Debt Sustainable
- Germany Warns TTIP Talks With U.S. ‘Difficult’: Handelsblatt
- China's Ministry of Environmental Protection looks to release details of stricter vehicle emissions standards by year end - Nikkei
- KKR to Invest in Publicly Traded Japanese Companies: Nikkei
Keep an eye on :
- A2A IM : A2A bid to take over ACSM-AGAM runs into trouble - Il Sole 24 Ore
- ABBN VX : ABB CEO says Power Grids division evaluation proceeding to plan, no comment on potential buyers
- AC FP : Brussels Hotel Revenue Halved After Attacks, Le Soir Says
- AF FP : Emirates’ Antinori Says Declines Air France-KLM CEO Position
- BARC LN : Carlyle Backs Diamond’s Bid for Barclays’ Africa Business: Sky
- BPI PL : Angola Has Option of Removing BPI Voting Rights in BFA: Expresso
- BA US : FAA Orders ‘Urgent’ 787 Repair After Engine Fails at 20,000 Feet
- CP US : Pershing Square Sells 4.1m Canadian Pacific Shares at $148.25
- CU FP : Club Med Opens Sanya Resort as Fosun Expands Operations
- EDF FP : EDF to Sell $4.5 Billion of Shares to Bolster Balance Sheet
- EDF FP : Macron Says Hinkley Point May Be Confirmed in Sept.: JDD
- DBK GY : Deutsche Bank Said to Bid for NAMA Properties: Irish Times
- EDN IM : Edison SpA Seeks Italian Partner, CEO Tells Corriere della Sera
- ERA FP : French Govt, Eramet in Talks to Bail Out SLN, JDD Says
- FOY FH : Finland Plans to Cut Stake in Finnair to Under 50%, HS Reports
- GPRO US : GoPro’s Woodman, Formerly Best Paid CEO, Got $805,217 in ’15
- HOF LN : Yuan Yafei May Sell House of Fraser, Sunday Times Reports
- NOVN VX : Novartis Wants to Sell Voting Stake in Roche: SonntagsZeitung
- NUM FP : Drahi to Sell Media Business, NextRadioTV Stake to SFR, JDD Says
- ROG VX : Novartis Wants to Sell Voting Stake in Roche: SonntagsZeitung
- TIT IM : Telecom Italia may swap 25% stake in Sparkle for CdP stake in Metroweb - La Repubblica
- VOW3 GY : VW's Diesel Crisis Is Now a Global Threat: Edward Niedermeyer
- VOW3 GY : VW Brand Head ‘Very Satisfied’ With Brand Efficiency Plan
- YHOO US : Received over 10 bids in first round this week and plans to narrow down the second round bidders as soon as next week - press - plans to review the bids for its core internet assets that ranged from $4-8B this weekend and invite a smaller group of second round bidders in the coming days.
- ZOE US : Pershing Won’t Seek Reappointment of Doyle to Zoetis Board