Weekly Performance
Dow +1.34% S&P +1.03% Nasdaq +1.90% Russell +1.39% Mexico +2.35% (+5.79% in $) BRazil +3.26% (+4.36% in $) Nikkei +1.72% Hang Seng +2.07% CSI +1.76% Shanghai +1.87% EuroStoxx +0.12% FTSE -0.19% (+1.26% in $) CAC -0.22% Dax+1.58% Ibex +1.32% MIB -0.77% SMI +1.26%
US stock markets reached new all-time highs this week when the Dow broke the psychological barrier of 20K while digesting the opening salvos of a Trump administration. Investors quickly saw he means business regarding several of his campaign promises. A flurry of executive orders began with the reopening of the Keystone and Dakota pipelines, touting it as a move to create jobs. By Friday, a formal meeting with Mexico in Washington had been cancelled after the Administration warned of a potential 20% border tax if Mexico was unwilling to renegotiate NAFTA or discuss reimbursement for the construction of a boarder wall. The Peso came under pressure yet again, and worries of a looming trade war were creeping higher. Some of that was assuaged on Friday after President Trump and Mexico President Pena Nieto spoke by phone and each called it a productive conversation. Overall, stock markets seemed to pay little attention to global trade concerns outside of the US retailing sector, which lagged notably. The volatility index meandered lower, to levels not seen since 2014 and trading volumes were muted in a sign of investor complacency despite a steady flow of geopolitical and corporate headlines. For the week the Dow rose 1.3%, the S&P added 1% and the NASDAQ finished up just under 2%.
Macro :
- Multinational Firms Pull EU144b From Belgium Since 2011: De Tijd
- Rothschild & Co. Co-CEO Says M&A Pipeline Above Yr-Ago: Investir
- Brazil Govt Preparing ’Mega-Auction’ of Pre-Salt Areas: Estadao
- Bank of China Weighs Dublin Move on Brexit: Sunday Independent
- FT : Markets enjoying a sugar high that will not last (Lawrence Summers) - http://on.ft.com/2k68fKD
- FT : Profit warnings from UK companies forecast to rise in 2017, Report by EY suggests 2016 figures ‘flattered to deceive’ - http://on.ft.com/2kIhj7G
- Generic-Drug Price Pressure Doesn't Worsen Yet Remains in 2017
Keep an eye on :
- AIR FP : Germany Plans to Buy EU1B of Lockheed Martin Planes: Spiegel
- ALV GY : Allianz Said to Weigh Offering AUD15/Share for QBE: Handelsblatt (12.33 on Friday -
- BMPS IM : Paschi Reviewing Options on NPLs in New Business Plan: Falciai
- BT/A LN : BT Italy False Accounting Was Going On for 10 Years: Telegraph
- DBK GY : Deutsche Bank CEO Cryan Says EU Needs to Change: Welt
- ENGI FP : Engie Gets Financing to Build $1.2b Saudi Arabia Power Plant
- FCCN LN : Under Armour in Talks to Buy French Connection Store: Telegraph
- G IM : Intesa Chmn: Generali Not on Agenda of Bank Meetings Next Week
- MC FP : LVMH’s Biver Considering Retirement in 7 Years: NZZ am Sonntag
- MGGT LN : Elliott Sells Stake in Meggitt After Failing to Find Buyer for Aerospace Supplier
- ORA FP : FT Article interview of Arcep Director on Risk of content investment - in your inbox
- CFR VX : Montblanc Is Developing New ‘Smart’ Watch Straps, CEO Tells SoZ
- RDSA NA : Shell, Total Plan Battery Charging Points at Gas Stations: FT
- TSCO LN : Tesco's bid for Booker faces lengthy investigation by UK competition regulator
- SNAP IPO : Snap Said to Publicly File for IPO Late Next Week: Recode - http://bit.ly/2kcONOp
- FP FP : Shell, Total Plan Battery Charging Points at Gas Stations: FT
- VOW3 GY : VW Recalls 342,867 Audi A5, Q5, A4 Allroad, A6 on Coolant Pumps
- VOW3 GY : VW Recalls 234,054 MY2011-2017 Audi Q5 for Air-Bag Inflator
- VOW3 GY : Luxembourg’s Pension Fund Said to Blacklist Volkswagen: FT
- VOW3 GY : VW Dealer Says 20% of U.S. Diesel Sell-Back Customers Buying VWs