US Market closed higher on Friday, Dow+1.2%, S&P +1.3% & Russel +2.7% on the Week, growth-sensitive sectors paced today's advance with five of six cyclical groups ending ahead of the broader market. The industrial sector (+1.0%) finished in the lead, while energy (+0.8%) and financials (+0.7%) followed, Industrials received broad support from transports and defense contractors, Energy was also strong thanks to ExxonMobil & Chevron...Financial was the only sector adding more than 2% on the Week (+2.2%), On the countercyclical side, the telecom services sector (unch) lost 1.2% for the week, while consumer staples (+0.3%), health care (-0.1%), and utilities (-0.4%) posted respective weekly gains of 0.3%, 0.7%, and 0.7%, VIX Got Crushed @ 10.73 -8.13% - lowest level since 2007, Volume were again below average @ 629mil shares - No Economic data in the US...China trade data released over the weekend painted a mixed picture despite the impressive 5-year surplus beat on the headline. Exports were particularly impressive with a 7% y/y rise - shipments to EU were up 13% and those to US up 6%. Imports component surprisingly contracted however, shrinking by 1.6% against a 6% expected rise. Iron ore, copper, and crude oil imports all fell sequentially, as ANZ analysts noted the declines were due to recent crackdown by Chinese regulators on the use of commodities as collateral to finance deals...- Japan Q1 final GDP was revised higher despite expectations of lower than initially reported growth. Q/Q final GDP stood at 1.6% vs 1.5% prelim and annualized was up 6.7% v 5.9% prelim. Corporate CAPEX component revision stood out with a whopping 7.6% rise - above 4.9% prelim and 4.6% estimate...Nikkei+0.40% HS+0.70% Shanghai +0.46%
Eur$ 1.3644 S&P Fut. -0.08% European Future +0.37%
Makor
- China’s May Exports Rise 7% Y/y; Est. 6.7% Rise
- Coeure: Euro Area Rates to Stay Low as Increases Begin Elsewhere
- European Soccer Market Exceeds $25b, Deloitte Finds
- Ukraine Will Repay $1b in Gas Arrears Today, Vedomosti Says
- Greece Privatization Exceeding Targets Credit Positive: Moody’s
- Europe Bank Sector to Start Generating Free Cash In 2015-16: SG
Keep an eye on
- ACA FP : Mentionned +ve in Barrons - attractive
- ADS GY : Adidas Sells Record German Soccer Shirts Outside Europe: FAZS
- ALO FP : Siemens Bid for Alstom Energy Unit Not Serious: Sunday Telegraph
- ATC NA : Altice SA Exercises call options to acquire 2.6% stake in Numericable Group held by Pechel and Five Arrows
- CS FP : AXA CEO Says Interested in Itau Unibanco’s Assets: Reuters Link
- BAF GY : Balda Wants to Double Sales Through Buys, COO Tells EuramS
- BALN SW : Baloise CEO Says No Bid Made fomsg r Nationale Suisse Stake: SamS
- BMW GY : BMW to Open Brazil Factory in September: Estado Link#
- BMPS IM : Single Banking Authority to Fuel M&A, Paschi's Profumo Tells FT
- BNP FP : Fabius Says Disproportionate BNP Sanctions Would Hurt TTIP Talks
- BPE IM : Popolare Emilia Shareholders Approve Max EU750m Capital Increase
- BT/ LN : BT in Talks to Expand TV Service to Films, Sunday Telegraph Says
- CA FP : CarrefourSA GM says it is "too early" to consider Migros as a target - Aksam
- CA FP : Carrefour in talks with Walmart, other possible buyers for its stores in India - The Economic Times
- CNA LN : Centrica Unlikely to Bid for More Fracking Rights: Telegraph
- CNA LN : Centrica and Qatar government have no comment on talk of Qatar bid; in
discussions about other projects
- CPW LN : EE may end agreement with Carphone Warehouse; merger with Dixons could be under threat
- CORA NA : State Street’s stake in Corio rises to 5.09%
- DAI GY : Mentionned +ve in Barrons - attractive
- EBS AV : Erste Bank Mentionned +ve in Barrons - attractive
- EDF FP : EDF in Talks With U.K. on Hinkley Nuclear Project: Times
- ENEL IM : Enel to sell Eastern European and Russian assets
- GFJ GY : Deutsche Bank Starts Placement of About 60m Gagfah Shares (Fortress Full Stake according to bbg))
- GLEN LN : Xstrata Ex-CEO Mick Davis Seeks $1.5b for X2: Sunday Telegraph
- INGA NA : Mentionned +ve in Barrons - attractive
- NESN VX : Nestle wants bigger piece of high-end chocolate - RTR
- 1913 HK : Prada Rises From 2012 Low After RSI Signals Shares Oversold - +1.12% now , -3.5% since HofD (open)
- RDSA NA : Royal Dutch Shell PLC Said to have started a search for a new chairman - FT- Reports indicating current chairman stepping down due to corporate governance rules.
- SAB LN : SABMiller plc CEO: Targets increase in US premium beer market share to over 20% from 14%
- SAL IM : Salini Impregilo SpA Amount of new float may be as much as 35% of capital following cash call and share placement
- SAN FP : Sanofi Bought back 740k shareas MAy 30/ June 5 @ Avg of €78.18
- SN/ LN : Smith & Nephew not planning any large acquisitions soon, considering bolt-on deals in emerging markets
- SSABA SS : SSAB intention to buy Rautaruukki may have hit the rocks
- TEC FP : Iran Eyes $90bn/yr Income From Petrochemical Industry: Official
- VOW3 GY : Mentionned +ve in Barrons - attractive