Dow-0.12% S&P-0.27% Nasdaq-0.36% Russell-0.27%
US Market closed lower on the day of kick off of earnings with AA reporting. equity market gapped up to begin its day as more news regarding Italy's planned bad-bank fund boosted investor sentiment. The fund is aimed at limiting a possible contagion effect from bad loans originated by Italian banks and is expected to improve balance sheets of those banks. Separately, an extended rally in crude oil added support to the opening move higher. eight sectors were in the red with health care (-0.7%), consumer staples (-0.7%), and telecom services (-0.6%) rounding out the leaderboard. Conversely, materials (+0.5%), and financials (+0.3%) finished with the only gains. CHK+19.7% after having its borrowing base reaffirmed at $4 billion. The company also increased collateral under its loan amendment. Volume were in line with 888mil shares. After Hours Alcoa beats by $0.04, misses on revs; lowers FY16 aluminum demand growth to +5% from +6%; spin off on track for 2H, AA-4.72%. JNPR sees Q1 EPS $0.35-0.37 vs $0.44 Consensus, lower guidance -7%. Asian equity markets are mixed, with Shanghai Composite posting a modest decline while Nikkei225 leads the key indices higher. USD/JPY is helping the recovery in Tokyo, as the pair traded up about 30pips back above 108.20 from the get-go in Japan trading session. Negative interest rate policy (NIRP) at the Bank of Japan continued to backfire, with the latest Japan bank lending growth falling to 2 1/2 year lows. Some of the weakness in China stocks has been attributed to speculation that the latest inflation figures do not warrant continued policy easing by the PBoC. Brazil Lower House Congressional Committee voted by a margin of 38 to 27 in favor of impeaching Pres Rousseff, as the process now shifts to lower house of Congress vote on Sunday. ADRs of Brazil related names traded in Asia have reportedly rallied on these developments, with investors consistently cheering what appears to be an impending conclusion to the Rousseff administration saga.
Nikkei +1.27% Hang Seng +0.37% Shanghai -0.46%
Eur$ 1.1411 CNH 6.4768 CNY 6.4677 JPY 108.36 GBP 1.4242 CHF 0.9539 RUB$ 66.6492 WTI$ 40.19(-0.42%)
S&P +0.15% EuroStoxx-0.25% Dax-0.19% SMI-0.16%
Macro :
Italy Fin. Institutions, CDP Agree to Set Up Fund for Banks
Italy Fund for Troubled Banks Could Be Worth EU5b: BPER CEO
Greece, EU/IMF Lenders Adjourn Bailout Review Talks: Reuters
Lew: I Hope We’ve Stopped Inversions Pipeline for a While
Bank of France Governor Villeroy Says French Growth Insufficient
Keep an eye on :
- AC FP : Accorhotels Appointed Viort Chief Disruption And Growth Officer
- AA US : Alcoa 1Q Adj EPS 7c Vs Est 2c, Separation on Track; Shrs Down 1%
- ATC NA : Drahi May Sell Liberation, L’Express to SFR, La Tribune Says
- ATO FP : Atos to Deliver World’s Most Powerful Supercomputer, Echos Says
- BP IM : Banco Popolare/BPM Merger Synergies May Be Bigger, Barclays Says
- EN FP : Bouygues Gets La Defense Tower Contract Worth About EU200m
- CHR DC : Chr. Hansen Seeks Organic Revenue Growth 8-10%/Yr From 2016/17
- FAGR BB : Fagron 1Q Rev. From Continued Ops EU103.6m; Est. EU109.3m
- GIVN VX : Givaudan 1Q Sales in Line With Estimates, Confirms 2020 Targets
- JNPR US : Juniper Prelim. 1Q Adj. EPS, Rev. Trail Ests; Shares Fall 8%
- MC FP : LVMH 1Q Organic Sales, Fashion & Leather Goods Miss Ests.
- NDA SS : Nordea Met Institutional Investors Over Panama Papers: Borsen
- RNO FP : Nissan Ships Auto Parts From China to Renault in Korea: Nikkei
- REP SM : Repsol Estimated 1Q Upstream Production Rose 2.6% From 4Q 2015
- ROG VX : AbbVie, Roche Drug Wins FDA Approval for Rare Form of Leukemia
- ROG VX : Roche Sees Superior Efficacy of Ocrelizumab in Relapsing MS
- SGO FP : Saint-Gobain Can Speed Up Development of Sika, De Chalendar Says
- SIKA VX : Sika Reports 1Q Sales Increase of 6.6% in Swiss Francs
- SHP LN : Shire, Endo Speculated as Potential AGN Targets: DealReporter
- GLE FP : SocGen CEO to Testify to French Senate on Panama Papers: FT
- SYNN VX : Germany to Approve Restricted Use of Glyphosate: Sueddeutsche Z.
- TRYG DC : Tryg 1Q Pretax Profit DKK563m Beats Est. of DKK489m
- UNA NA : Unilever rises amid speculation of asset acquisition from rumoured General Mills break-up - Daily Mail
- VIV FP : Vivendi Buys 15% Stake in French Entertainment Retailer Fnac
- VOW3 GY : VW Board to Decide on Bonus Payments Next Week, Bild Reports
- VOW3 GY : Ex-VW CEO Winterkorn to Forgo Part of Bonus, Handelsblatt Says