Upside momentum in China markets is being helped by more benign economic data. March industrial profits continued to fall but the YTD decline was less than in the first two months of the year. Comments from PBoC chief economist Ma were also more reassuring, suggesting China may eschew strong stimulus, as employment situation remains strong and economic restructuring has made positive progress. Late last week, China labor ministry put urban jobless rate in Q1 unchanged from Q4 around 4.1%. Also helping sentiment was the assistance offered by China Construction Bank to state owned the power-equipment maker Baoding Tianwei, which was unable to a make an interest payment of CNY85.5M after posting a large loss for 2014, marking the first onshore default by a China state firm in history...As Greek negotiators continue their work with European lenders, there is renewed chatter concerning the the possibility of Grexit when the current program expires at the end of June. Slovenia Fin Min Mramor raised the Plan B discussion, though his German counterpart hinted it would be extremely unexpected. The latest from Athens meanwhile saw over 70% of population leaning in favor of a debt agreement with EU and only 23% indicating they were prepared to leave the Eurozone. Greek PM Tsipras reportedly held more talks with Germanys Merkel over the weekend, and conversations will continue on Monday.
Nikkei -0.26% Hang Seng +1.46% Shanghai +2.24%
Eur$ 1.0871 RUB $50.5785 CHFEUR 0.9646 CHF 0.9536 GBP 1.5175 WTI $57.06 (-0.16%)
S&P +0.07% EuroStoxx +0.25% Dax +0.42% SMI +0.41%
Macro :
- U.S. Money Managers Less Optimistic, See 4Q Rate Hike: Barron’s
- Nepal Earthquake Kills Hundreds, Triggers Everest Avalanche
- According to a Greek press survey, over 70% of respondents are in favor of a deal agreement with EU creditors; Only 23% would support a split with EU
- *SPAIN GOVT WILL PREDICT ALMOST 3% GROWTH IN 2015, ABC REPORTS
- Greek PM Urged Merkel to Hold Emergency Summit This Week: Bild
Keep an eye on :
- ABE SM : oros Bids for EU250m of Cellnex Shares in IPO, Expansion Says (127,4mil shares price Range E12/E14) - Abertis selling
- AIR FP : Airbus’s Leahy Sees Strong A380 Demand From 2020: WSJ
- AER LN : Decision on €1.4bn takeover of Aer Lingus set to drag into May , meeting next tuesday
- AAPL US : iPhone 6s, Apple's next-generation iPhone, coming fall 2015 - MacRumors http://bit.ly/1b0UMgO
- ACS SM : ACS May Win EU4b Contract on Toronto Light Train: Cinco Dias
- ARI US : Ariad in talks to end proxy battle, CEO would retire,Sarissa Cap. will nominate 3 board members - Deal Reporter
- ATL IM : Atlantia close to sell minority(30 to 40%) stake in Aeroporti di Roma, Adia, Temasek cited as pot. buyers - Il Sole 24 Ore
- BA/ LN : FT : BAE Systems considers sale of US consultancy unit- FT http://bit.ly/1b0UMgO
- BAYN GY : Bayer hires Goldman Sachs to find buyer for Bayer Garten unit (Plant protection) Price Range (100/150mil for 220mil revenues) - Frankfurter Allgemeine Zeitung
- BP/ LN : U.K. Government Said to Tell BP It Would Oppose Any Takeover: FT
- CAP FP : Cap Gemini 1Q Rev. Rises 11%, Raises 2015 Rev. Goal; Buys IGATE
- CAP FP : Cap Gemini Buys IGATE for $48/Shr Cash
- CELLNEX IPO (SPAIN) : Soros Bids for EU250m of Cellnex Shares in IPO, Expansion Says (127,4mil shares price Range E12/E14) - Abertis selling
- DBK GY : Deutsche Bank 1Q Earnings Strong, Capital Weaker, Barclays Says
- EDF FP : EDF in Advanced Talks to Sell 25% of Energie Steiermark: WiBlatt
- GSZ FP : GDF Suez Seeking to Grow Spanish Wind Power Business: Expansion
- GE US : Reportedly Suntrust and Apollo among potential bidders for GE's sponsored finance unit
- HSBA LN : Mulling spinoff of UK Retail Banking bus. for £20n & Move of headquarters --> stock +5.8% in Hong Kong
- MS IM : Mediaset Premium was approached by Sky Italia, Al Jazeera mentioned http://reut.rs/1ECsua1
- MYL US : Teva seeks Mylan shareholder support for bid, sources say - Deal Reporter
- NOK1V FH : Nokia Says Has No Plans to Manufacture, Sell Consumer Handsets
- UG FP : Peugeot Family to Discuss Stake in Co. at June Meeting: Echos
- ROBERTO CAVALLI : Clessidra to Buy Roberto Cavalli Fashion Co. This Week: Corriere
- ROG VX : Roche Mulls Takeovers of Small, Medium-Sized Cos.: Sueddeutsche
- RSA LN : Cevian Capital May Vote Against RSA’s Remuneration Report: Sky
- RYA LN : Ryanair Prices to Fall by 10%-15% Over Next Two Years: CEO
- SSABA SS : SSAB 1Q Op. Profit Beats Est.; Sees Shipments Stable in 2Q
- SIK VX : Sika Founders File Complaint to Overturn Board Elections
- VOW3 GY : VW chair. Piech still planning to oust CEO Winterkorn; undermines position as chairman http://bit.ly/1I8QYHK
- VOW3 GY : Volkswagen Says Chairman Piech and Wife Resign From Posts
- VOW3 GY : Wolfgang Porsche Candidate to Become VW Chairman: Sueddeutsche