US Market closed higher with Fed Taper again, the Dow registering a new record closing high at 16,580.84, which represented its first green close for the year...Yesterday's session featured another heavy dose of earnings and a full slate of economic data. Prior to the open, index futures jumped in reaction to a better-than-expected ADP Employment report, but promptly surrendered those gains when it was reported that GDP increased a puny 0.1% in the first quarter (consensus 1.0%). FED Commenrts about Economy & the decision to cut anothe 10b froms its monthly purchase helped mkt to recover (wording : growth in economic activity has picked up recently, after having slowed sharply during the winter in part because of adverse weather conditions)...boosted by end of month volume were above average @ 892mil...VIX @13,41 -2,19%... The start of Labor Day holiday weekend across much of the far east has kept market volatility to a minimum. China govt put out its official manufacturing PMI just shy of the consensus estimate. Despite the miss, the headline figure marked a 3-month high and a 2nd consecutive month of improvement...USD/JPY pair traded in a 20pip range around ¥102.20, despite another nudge by Japan PM Abe's influentiel economic adviser Hamada toward more easing if the impact of higher sales tax becomes more pronounced....Nikkei +1,11%...Hang Seng closed...Shanghai closed
Eur$ 1,3882 S&P Fut Flat European Fut closed FtseFut +0,10%
Macro
- Fed Reduces QE to $45b/mo., Keeps Low-Rate Pledge Same
- China April Manufacturing PMI 50.4; Est. 50.5
Keep an eye on :
- AZN LN : Pfizer CEO Meets With Large AstraZeneca Holders, Osborne: FT
- BG/ LN : BG 1Q Net $1.15b vs Est. $1.05b; Says Egypt to Affect 2015 LNG
- BN FP : Danone Agrees to Buy New Zealand Dairy Processors, Fairfax Says
- DANSKE DC : Danske Bank 1Q Net Beats Est.; Outlook at Higher End of Range
- DTE GY : Sprint Said to Plan T-Mobile Bid After Pushing Banks for Funding
- ELE FP : Euler Hermes 1Q Net EU82.7m vs Est. EU78.2m
- FER SM : Ferrovial 1Q Net EU65 Million Vs EU72 Million a Year Earlier
- GSK LN : Glaxo Wins FDA Approval for Incruse Ellipta to Treat COPD
- IDR SM : Indra 1Q Net EU31m Vs EU27m a Year Earlier
- ING FP : Ingenico 1Q Sales Beat; 2014 Forecast Affirmed
- LLOY LN : Lloyds 1Q Underlying Profit Rises 22%, Sees FY NIM at 2.4%
- MEDAA SS : Mylan’s Third Bid for Meda May Seal the Deal, Cowen Says
- NOVOB DC : Novo Nordisk 1Q Net Beats Est.; Lowers FY14 Rev. Outlook
- PUB FP : Publicis, Omnicom Seeing Loss of Clients, Staff: Reuters Link(Vodafone & Microsoft (Interpublic)
- RB/ LN : Not anymore indiscussions with Merck
- REP SM : Repsol Names Imaz CEO to Start ‘New’ Phase in Management
- RR/ LN : Rolls-Royce Sees Weaker Marine; Group Rev, Profit Flat for Year
- SCVB SS : Investor AB to Tender Scania Shrs in Volkswagen Bid
- SN/ LN : Smith & Nephew 1Q Profit, Adj. EPS Miss Ests.; Keeps Outlook
- SRP LN : Serco Plans to Sell Up to 49.9m Shrs, 9.99% Stake
- TFI FP : TF1 1Q Net EU14.6m vs Loss EU6.3m; Reiterates Savings Target
- TIT IM : Shire Rises on Report Allergan Is Preparing Takeover Offer
- WEIR LN : Weir Group Full Year Guidance Unchanged; 1Q Op. Margins In Line