Nikkei225 and Shanghai Composite are leading the charge in the far east to open up the new trading week. The former - Nikkei225 - is benefiting from weaker Yen amid overall risk-on mode after the Wall St rally on Friday, even though the non-farm payrolls data were largely in line. Shanghai Composite meanwhile has added to a 2%+ rebound on Friday with another 1.1% rise after the weekend move by the PBoC to cut key rates for the 2nd time this year. The easing - a 25bp cut in deposit and lending rates to 2.25% and 5.10% respectively - was widely telegraphed by analysts following last week's downbeat trade numbers, though PBoC also noted it will continued to "promote real interest rates back towards reasonable levels" in response to the economy facing downward pressure. Meanwhile, economists with ANZ and Nomura anticipate further key rates moves by the PBoC amid powerful headwinds to the economy. Also out of China over the weekend and just ahead of the central bank easing, April CPI inflation rose by a decimal to a 4-month high of 1.5% but still missed expectations. YTD CPI of 1.3% was also underwhelming, as it remains well below the official 2015 target of 3.0%. Food CPI was once again much higher at 2.7% vs 0.9% for non-food, although Stats Bureau researcher said the "supply of meat and fresh vegetables has been stable, so there are no expectations of a sharp jump in food prices in the near term." EUR/USD is consolidating some of its recent gains, falling about 80pips below $1.1140. Greece remained in the headlines ahead of Monday meeting with European creditors, as PM Tsipras called for "clear confirmation of the progress that has been made" in expressing optimism that a breakthru at today's talks can be achieved. Earlier, Dep Foreign Min Tsakalotos (debt negotiation team) also said "the deal is very close and will be reached in the coming period."
Nikkei +1.22% Hang Seng +0.63% Shnaghai +2.14%
Eur$ 1.1146 RUB $51.2855 EURCHF 1.0415 CHF 0.9339 GBP 1.5418 WTI $59.31 (-0.13%)
S&P -0.01% EuroStoxx +0.06% Dax +0.05% SMI +0.12%
Macro :
- China Cuts 1-Year Interest Rates by 0.25 Percentage Point
- China Adds Stimulus With Third Interest-Rate Cut in Six Months
- Greece Cuts 2015 Growth Forecast, Reuters Reports
- Iran Can Raise Oil Exports by 500,000 Bpd Once Sanctions Lifted
- China April Consumer Prices Rise 1.5% Y/Y; Est. 1.6% Gain
- Greek Deal With Creditors to Unlock 7 Projects: Kathimerini
- German Fin Min Schaeuble: concerned about potential for surprise default in Greece; Germany will do everything to keep Greece in the eurozone
- Norway Christian Democrats to Seek More Oil Fund Exclusions
- Merkel Pressed to Give Up on Greece as Germans Urge Strong Euro
Keep an eye on :
- ABBN VX : ABB CEO Tells SRF He Plans No Big Restructurings, Wants to Build
- AH NA : Ahold, Delahize Decline to Comment on Merger Talks Report
- AIR FP : Airbus A400M Crash, First Ever, Leaves 4 Dead, 2 Injured
- AIR FP : Airbus Says Test Flights of A400M Aircraft to Proceed: Reuters
- AF FP : Air France-KLM: Says April Passenger Traffic Flat
- AREVA FP : Areva-EDF Solution to Be Found Before Summer, Echos Says
- ATL IM : Atlantia 1Q Ebitda Misses; Italy Traffic +0.9%
- BARC LN : U.K. Banks May Get GBP4b Windfall From Visa Deal, Sky Reports
- BMPS IM : Monte Paschi Sees Possible Merger With Cooperative Banks: Sole
- BMW GY : BMW CEO Faces Investor Opposition to Chairmanship Move: FAS
- BP/ LN : US appeals court finds the company can appeal damages awards from oil spill in the Gulf of Mexico (Deepwater Horizon) - financial press - Court finds existing rules of settlement that gave the claims fund administrator full discretion on paying claims violated BP's rights by not providing it with acceptable methods to for it to appeal decisions.
- CA FP : Carrefour Brazil shareholder Diniz negotiating BRL 1bn raise from Qatari fund to boost stake
- DPW GY : Deutsche Post Faces Strikes After Wage Talks Collapse: Ver.di
- GIL GY : DMG Mori Seiki AG to Be Renamed DMG Mori AG, CEO Says at AGM
- ERF FP : Eurofins Says It Can Easily Achieve 2015 Targets
- EXO IM : Exor Said to Weigh PartnerRe Bid Raise at Tues. Meeting: Reuters
- EXO IM : Exor Agrees to Sell Cushman & Wakefield to DTZ For $2b
- EXO IM : Exor may weight M&A alternative to Partnerre by 2015 - Repubblica
- FIS1V FH : Fiskars Buys WWRD Group of Companies for $437m
- GEA GY : GEA Group 1Q Ebitda Rises, Profit Drops; Raises Forecast
- MB IM : Mediobanca confirms plans to sell stakes in Telecom Italia and other companies - Il Sole 24 ore
- MEO GY : Metro plans to enter new markets; acquisitions possible -http://bit.ly/1K0OXz5
- ONTEX BB : Ontex 1Q Adj. Ebitda Rises 5.7% to EU52m; Targets Wider Margin
- PFV GY : Pfeiffer Vacuum may make large acquisitions- http://bit.ly/1ElK8JV
- QSC GY : QSC 1Q Rev. Falls 4%; Says Had Good Start to Yr, Keeps Forecast
- ROG VX : Roche to Present Pivotal Data in Lung, Blood Cancers at ASCO
- ROG VX : Roche Wins FDA Approval for Cobas KRAS Mutation Test
- SGO FP : Saint-Gobain Remains Open for Talks With Sika Board, CEO Says
- SCYR SM : Blackstone, Merlin Among Bidders for Sacyr’s Testa: Expansion
- SIE GY : EU Regulators Said Set to Unconditionally Clear SI/DRC: Reuters http://reut.rs/1Qwp9Ma
- SYNN VX : Syngenta trading higher in NYC on report of Shareholders backing a $50b deal
- SYNN VX : Monsanto to Pursue Syngenta Takeover After Bid Rejected: Reuters
- SYNN VX : Monsanto l ikely to sweeten Syngneta offer after rejection - UBS
- TLX GY : Talanx 1Q Net Rises 16% to EU251m; Sticks to Outlook
- TEVA IT : Mylan chairman tells investors he would consider buying Teva http://reut.rs/1H5lW1F
- UBER IPO : Uber Fund-Raising Points to $50 Billion Valuation - NYT
- V US : Said to be in early stage talks to buy Visa Europe for as much as $20B
- VASTN NA : Vastned Confirms 2015 Guidance for Direct Result/Share
- VOW3 GY : Skoda Auto Doesn’t See Quick Recovery of Russian Market: Wojnar
- WDF IM : World Duty Free sale faces demand for regulatory investigation after Benettons choose Dufry over higher Chinese bid - FT http://on.ft.com/1HbQeTa