Weekly Update
Dow +0.09% S&P -0.69% Nasdaq -1.28% Russell -2.50% Brazil +0.31% Nikkei +1.52% Hang Seng -1.80% CSI +0.37% Shanghai +0.43% EuroStoxx +0.05% Ftse -0.34% CAC +0.28% Dax -0.14% Ibex +1.11% MIB +0.92% SMI -1.57%
Equity markets drifted lower in the latter half of the week as quarterly earnings showed no strong overall trend. Then on an otherwise quiet Friday afternoon, FBI director Comey announced investigators had uncovered new emails that may be related to the Hillary Clinton private email server probe. Though the FBI did not give any specifics on the substance of the new investigation, markets immediately went into risk-off mode, repricing the odds of the election outcome. By the close on Friday, gold futures rose to the week's high at $1285/oz, and stocks had touched their lows of the week. For the week, the S&P500 fell 0.7%, the DJIA edged up 0.1%, and the Nasdaq dropped 1.3%. Treasuries did not react much to the FBI story, with the 10-year yield remaining near the weekly high around 1.85% on Friday.
Macro :
- BOE Governor Carney May Step Down ‘Within Days,’ Mail Reports
- Druckenmiller-Backed Fund Said Set to Start Nov. 1: Bus. Insider
- Gabriel Says EU Rejects China ‘Foul Play’ in Takeovers: Welt
- China’s Factory to the World Mulls the Unthinkable: Price Hikes
- OPEC Splits Prevent Deal With Other Producers to Curb Supply
- Saudi Stocks Extend Winning Streak as Cash Crunch Concern Eases
Keep an eye on :
- AAL LN : Anglo American Spinoff Wouldn’t Include Manganese: Telegraph
- ABG SM : Abengoa Seeks Court Approval For Restructuring Contract
- AC FP : Hyatt Hotels Gains as Much as 2.9%; Reports 3Q November 3
- AF FP : Air France-KLM Mulls Terner, Guerin for Air France Unit: Figaro
- AF FP : KLM Cabin Crew to Strike 20 Minutes Per Flight on Oct. 30
- AGFB BB : CompuGroup's acquisition of Agfa-Gevaert could stumble over retirement payments - Tidj.be
- BABA US : Alibaba in Talks with German Retailers Over Online Shops: Welt
- CBK GY : Commerzbank’s Zielke Wants to Join BDB Board, Handelsblatt Says
- ALIV SS : Takata sees Daicel, Autoliv as most desirable sponsors - report
- BHI US : GE, Baker Hughes Could Reach a Deal as Early as Next Week: WSJ
- BAS GY : BASF Says Employee Dies of Injuries After Oct. 17 Explosion
- BMPS IM : Monte Paschi Road Show to Include Doha: Sole
- CSGN VX : Credit Suisse Plans ‘Cost-Sharing Project’ w/ Another Bank: FT
- DAI GY : Daimler CEO Opposes Govt Restraints on China M&A in Europe: HB
- DAI GY : Daimler’s Zetsche Seeks Leaner Corp. Hierarchy: Handelsblatt
- DAI GY : Daimler’s Vans Business to Have Record 2016: Euro am Sonntag
- DL NA : Delta Lloyd/NN takeover talks not in exclusive phase yet
- DBK GY : Deutsche Settlement Over Russia Trades Possible in 2017: Reuters
- ESNT LN : Essentra Close to Appointing Coats’s Forman as CEO: Sunday Times
- ERICB SS : Ericsson Owners Said to Question New CEO’s U.S. Base: DI
- GHE LN : Damon Buffini Buys 5% Stake in Gresham House: Sky
- HEN3 GY : Henkel’s Van Bylen Seeks to Broaden Global Presence: FT
- HSBA LN : HSBC Seeks to Unlock GBP5b Capital From China Bank: Sunday Times
- IGAS LN : Trans European Oil & Gas Said to Seek IGas Energy Assets: Sky
- INVN US : InvenSense Said Exploring Alternatives Including Sale: Reuters
- KORS US : Michael Kors Trades to Session High; December $50 Options Active
- LPE FP : Champagne Maker Laurent-Perrier’s Owners Said to Mull Stake Sale
- MC FP : Tag Heuer CEO Sees Sale of 150,000 High-End Smartwatches: NZZ
- MG US : Magna to Grow Faster Than Overall Mkt, CEO Tells Automobilwoche
- MRK GY : Germany’s Merck Said to Explore Biosimilar Drug Unit Sale: Rtrs
- NESN VX : Nestle Wanted Health Expert for CEO Role, Chairman Tells Blick
- NOVOB DC : Novo Nordisk’s Share Implosion Sends Shock Waves Through Denmark
- SAN FP : Regeneron, Sanofi Fail to Win FDA Approval for Sarilumab
- SAN LN : StanChart Said in Financing Talks on Chinese Aviation JV: FT
- SIK VX : Sika Still Wants to Buy Back Burkard Family’s Stake: NZZ
- SWISS POST IPO : Swiss Post Has No Plans for Postfinance IPO: FuW
- TWX US : Goldman Pushing Apple to Make Bid for Time Warner: N.Y. Post
- VOW3 GY : Volkswagen to Drop BlackBerry for IPhones: Automobilwoche