US Market closed slightly down, near from flat line, with Small caps underperforming again, four countercyclical groups finished mixed with health care (+0.2%) and utilities (+0.3%) posting slim gains, while consumer staples (-0.3%) and telecom services (-1.0%) ended in the red, energy (+0.3%) and financials (+0.1%) posted modest gains, the industrial sector (-0.2%) settled just behind the broader market...we saw some interest in protection buying ahead of ECB on Thu. VIX @ 11.79 +1.8%, Despite the uptick, the near-term volatility measure ended the day not far above its 2014 low (11.29%), volume small better but still below average @ 644mil shares....Japan's Dai-ichi Life reached a deal to acquire US-based Protective Life in a $5.7B merger, creating a new top-20 global life insurance entity (PL US : Bid $70/ share - 10% premium)
Eur$ 1.3616 S&P Fut -0.13% European Fut. -0.15%
Macro
- ECB is reportedly looking to cut benchmark and/or deposit rates by 10 or 15 basis points at Thursday's meeting, reportedly would reiterate forward guidance after a potential rate cut
- Caruana Says Negative ECB Rate May Not Boost Lending: Boersen
Keep an eye on :
- A2A IM :A2A Expected to delay sale of 5% stake - Italian Press
- AF FP : Air France’s De Juniac Switches Focus to Competitivity: Echos
- BNP FP : Regulators May Suspend BNP’s Dollar Payment Processing: NYT {http://nyti.ms/1oUCMJY}
- EN FP : Montebourg Wants French Telecoms Consolidation, Tribune Says {NSN N6MOXR6K50Y7<Go>}
- CABK SM : Caixabank May Sell 20% Stake in Credit Card Unit: Expansion
- CO FP : Casino Guichard-Perrachon SA To partner with Bollore to develop ecommerce platform in Africa
- DAI GY : China Warns of Gear Risks on Imported Mercedes-Benz
- DBK GY : Spec. that right issue (€8b ) could be price €21-21.50/share (-28.9% / -27.2% Discount)
- DGE LN : Diageo CEO Says to Move ~25% of Media Spend Into Digital: WSJ
- DUFN VX : Dufry to buy Nuance group for CHF1.5b, Expects Nuance Group Purchase to Add to 2015 EPS, Right Issue to come, willseek approval at EGM on the 26th
- Euronext : Total, Orange, GDF to Take Stakes in Euronext, Echos Says
- LG FP : Lafarge to combine South African, Nigerian businesses in USD 1.35bn deal for listing in Nigeria
- MS IM : Mediaset may match Telefonica's bid for 56% stake in Digital Plus
- ORA FP : Montebourg Wants French Telecoms Consolidation, Tribune Says {NSN N6MOXR6K50Y7<Go>}
- PVA S< : Pescanova 2013 Net Loss EU715m Vs EU776m Y/y
- TEF SM : Telefonica Said in Talks With Freenet on E-Plus Deal
- VOE AV : Voestalpine FY EPS Beats Ests., Dividend Misses BDVD Forecast