Dow+0,31% S&P+0,46% Nasdaq+0,48% Russell-0,32%
US Market Closed slightly higher with small cap lower, S&P find a support on 50d MA. Eight of ten sectors registered gains with all six cyclical groups ending higher. The growth-sensitive bunch was led by energy (+1.6%), which held the lead throughout the day. The sector held its own while crude oil slumped from its intraday high, but still rose 0.7% to $50.81/bbl. Alcoa's 3.3% decline after the company reported a two-cent beat on below-consensus revenue. In addition, Alcoa said it expects aluminum demand to grow by 6.5% in 2015 after revising its 2014 global demand growth to 9.0% from 7.0%. Volume were below average @ 675m shares...US After Hours QTM +30.2%, FSI +4.7%, RT +1.4%, EXTR-19.8%, MDCO -8.3%, CTXS -5.9% following earnings/guidance...China kicked off economic reports for the month of March in decent fashion, as CPI held steady at 1.4% beating consensus by a decimal and PPI declines stopped accelerating for the first time in 8 months. Sequentially, CPI fell 0.5% after rising 1.2% in Feb, but YTD CPI edged up to 1.2% from 1.1%. China and Hong Kong equity markets are taking a breather from the volatility of the last two days, however there appears to be a sense of resignation that the path of least resistance is higher still. Local press attributed the sharp rally on the Hang Seng to two straight days of full use of quota for Shanghai - Hong Kong stock connect as investors sought to take advantage of a discount of as much as 24% for individual Hong Kong traded stocks relative to their mainland dual listings. USD is trading higher 1.0667 vs Euro...
Nikkei 0.03% Hang Seng +0.17% Shanghai +1.08%
WTI $50.76% RUB $51.3882 CHFEUR 0.9596 CHF 0.9772 Eur$ 1.0665
S&P -0.01% EuroStoxx +0.46% Dax +0.50% SMI +0.38%
Macro :
- China Govt could lower the value added tax (VAT ) on coal down to 13% - China press
- China March Consumer Prices Rise 1.4% Y/y; Est. 1.3% Gain
Keep an eye on :
- A2A IM : A2A 2014 Loss EU37m; Ebitda in line w/ Est., Chinese, Arab Gulf Funds Interested in A2A, MF Reports
- A2A IM : A2A Sees Div. Doubling by 2019; Ebitda to Grow, Debt to Decline
- AF FP : Air Traffic Control Strike Costs Air France EU10M-EU20M:Parisien
- B5A GY : Bauer 2014 Sales Rise 4%, Posts Net Profit; Beats BDVD Forecast
- BG/ LN : *BG/SHELL UNLIKELY TO SEE EXXON COUNTERBID, CREDIT SUISSE SAYS
- CA FP : Brazil Billionaire Abilio Diniz Boosts Carrefour Stake to 5.07%
- CA FP : Carrefour 1Q Sales Beat Ests.; France Sales Up 2.5% Y/y
- DBK GY : Said to be close to settling LIBOR manipulation litigation; May pay up to $1.5B to various regulators - NYT
- GIVN VX : Givaudan Says Started Yr With Stable Momentum, Repeats M/T Goals
- GLEN LN : Glencore Says Global Effective Tax Rate in 2014 Was 22%
- REP SM : Caixa said to be considering sale of Repsol stake (2,5%)
- RWE GY : RWE Outlook To Negative On Market Conditions by S&P
- SGO FP : St Gobain CEO Sees No French Construction Recovery This Year
- SHP LN : Shire: U.S. FDA Grants Priority Review to Lifitegrast NDA
- SKG LN : Smurfit Kappa Would Be ‘Good Fit’ for Intl Paper: Vertical
- DG FP : Orix, Vinci Mull Joint Bid to Run Osaka-Area Airports: Nikkei
- VIV FP : Bollore Spends EU800m to Buy Further 2.51% of Vivendi, up from 12% to 14,51%
- VOW3 GY : Volkswagen to Invest EU500m in Slovakia From 2017: Handelsblatt