Weekly Update
Dow-1.21% S&P-1.21% NAsdaq-1.30% Russell-1.82% Brazil-0.53% Nikkei-2.12% Hang Seng-1.96% Shanghai-0.63% EuroStoxx-1.40% Dax-1.76% Cac-0.44% Ibex-2.03% MIB-1.53% SMI +1.68%
US equity markets drifted lower this week in low-volume trading. With little weighty US or global economic data on the calendar, trading sentiment was knocked around by the vagaries of the oil market and the continuing weaker dollar trend. Traders scanned the ECB and Fed minutes in vain for more direction on the institutions' monetary policy views. Interest rates declined globally with US Treasury yields falling to one month lows. Banking stocks continued to face strong headwinds with several managements outlining the difficult environment financial institutions still face. Meanwhile, the US government worked hard to crush several high-profile merger deals. Next week looks pretty light of data as well, although the slow-moving spring quarter earnings season is rapidly approaching. For the week, the S&P500 slipped 1.2%, the DJIA lost 1.2%, and Nasdaq fell 1.3%.
Macro :
ECB Can’t Create Growth in Europe, Carmignac Tells FuW
The Yen’s Puzzling Surge, Explained in One Morgan Stanley Theory
Musk’s Reusable-Rocket Dream Comes True With Drone-Ship Landing
Portugal’s Costa Wants Creation of Vehicle for NPLs, TSF Says
Keep an eye on :
- AIR FP : Boeing Delegation to Visit Iran to Discuss Airline Cooperation
- AIR FP : Airbus Says France, Germany Halt Export Credit Amid U.K. Probe
- ANTO LN : Antofagasta CEO Sees Copper Market in Surplus to 2019: S. Times
- BARC LN : Barclays Branches Used as Collection Points for Amazon: Mail
- BMW GY : BMW to Recall Some Imported BMW 7 Series Models in China: Xinhua
- BOSCH : Bosch Senses Weakening Diesel Demand, CFO Tells Boersen-Zeitung
- CBK SM : CaixaBank, Dos Santos Reach Agreement on BPI, Noticias Says
- CA FP : +ve article in Barron's
- DGE LN : Diageo Chairman Humer Preparing to Step Down, Sunday Times Says
- ENEL IM : Enel looks to conclude talks over buying stake in Metroweb in two-three weeks - Il Sole 24 Ore
- HMSN LN : London Planning Officials Don’t Recommend Hammerson Housing Plan - FT - http://on.ft.com/1SGnK4r
- LSE LN : Deutsche Börse-LSE tie-up hits opposition because of Brexit - FT - http://on.ft.com/1USZAJZ
- RCS IM : RCS receives all-share public offer from Cairo Communications, offfered 0.12 shares
- SAP GY : SAP 1Q Prelim. Non-IFRS Rev., Oper. Profit Trail Ests.
- SIE GY : Siemens Signs MOU for 2,200mw Power Plant Project in U.A.E.
- TSLA US : Could announces updates to Model S car as soon as next week, a new front face similar to the new Model X, LED headlights, and more luxury features, a price increase of Model S - http://cnet.co/1YnfdYb
- GLE FP : SocGen Confirms Offices Searched by Investigators Last Week
- SREN VX : Car gadgets expected to crunch insurers FT - http://on.ft.com/1qH1nWn
- VATT SS : Vattenfall will most probably sell German brown coal business to EPH - Sueddeutsche Zeitung
- VIV FP : Universal Music, Sony, Warner Seek New YouTube Agreements: FT
- VOD LN : Vodafone Germany Abolishes Europe Roaming Fees: Rheinische Post
- VOW3 GY : Ex-Volkswagen CEO Winterkorn Still Gets Paid Salary, Bonus: FAS
- VOW3 GY : VW CEO Mueller to Propose 30% Bonus Cut for Exec. Board: BamS