Weekly Performance
Dow-6.70% S&P-6.49% Nasdaq-7.77% Russell-8.39% Ibovespa -8.30% EuroStoxx-7.16% FTSE-7.13% CAC -6.54% Dax -8.32% Ibex -6.65% MIB-7.23% SMI -6.19% Nikkei -5.56% Hang Seng -7.34% Shanghai-11.87%
Global stock markets experienced one of the worst first trading weeks of the year ever, pummeled by China's ham-fisted attempts at stock market and currency reform. The S&P500 ended the first five days of 2016 down by 6%, while the DJIA erased 6.2% over the same period. Both the DJIA and the Nasdaq are now in correction, 10 percent off their 2015 highs. Weak Chinese data and the PBoC's attempts to shore up the economy by accelerating the devaluation of the yuan shuttered Chinese equity trading twice, creating panicked reactions in various global equity markets. Gold and government bond prices held up relatively well with investors turning away from risk assets, but oil prices continued to sink.
Macro :
- Fed Open to Modest Increase in Risk Threshold, Alvarez Says
- Renzi Says Italian Projects by Global Investors to Be Announced
- French Business Leaders Ask for Relaxing of Work Rules, JDD Says
- London Hedge Fund Omni Sees 15% Yuan Drop, and More in a Crisis
Keep an eye on :
- AAL LN : Anglo to Sell Brazil Mine for $1B This Week, Times Reports
- ABG SM : Abengoa Said to Present Viability Plan by End of January
- BG/ LN : Glass Lewis to Support Shell/BG Group Deal, Mail Reports
- BG/ LN : Standard Life Investments to Vote Against Shell’s Bid for BG
- BG/ LN : ISS Recommends Shell/BG Deal, Has Compelling Strategic Rationale
- CNHI IM : Deere Still Sees FY16 Equip. Ops Net ~$1.4b, Sales Down ~7 y/y
- CRH LN : CRH confirms EUR 1bn disposals in 2015, including 25% stake in Mashav
- DBK GY : Deutsche Bank Said to Sell London Bullion Vault to ICBC: Reuters
- FCA IM : Fiat Chrysler’s Goal for Alfa Romeo Slipping - WSJ
- GSK LN : GSK break-up urged by star fund manager Neil Woodford
- HOME LN : Home Retail Group shareholders want at least GBP 1.6bn from Sainsbury
- ITALGAS : Italgas and 2i Rete Gas may merge and list Il Corriere della Sera
- LRD LN : Amphenol Is Assessing Laird for Possible Takeover: Telegraph
- LHA GY : Lufthansa Sees 2016 Earnings Growth as Fuel Costs Decline
- ML FP : Michelin Plans EU150m Buyback Between Jan. 11-June 15
- PRS SM : El País owner faces activist pressure for board shake-up, An activist hedge fund (Amber Capital) is pressing for a corporate governance upheaval at the owner of Spain’s El País newspaper ahead of the company’s board being put up for renewal.
- PSM GY : ProSiebenSat.1 Pulls International OTT Service: BroadbandTVNews
- SHP LN : Baxalta agrees to terms of GBP 22bn sale to Shire, $48 per share and include a cash component of up to 40%, or GBP 8.8bn
- SPD LN : Sports Direct Holder Crispin Odey Cuts Its Stake: Telegraph
- TSCO LN : Asda CEO Says Supermarket Is Slashing Prices Further: Telegraph
- TFI FP : BFMTV Files Appeal Over LCI Free-To-Air Decision: AFP
- TNTE NA : FedEx, TNT Express Extend Acceptance Period
- VONN SW : Vontobel Plans to Stay Independent, Board President Tells NZZ