Friday US markets on close: Dow +0.7%, S&P500 +0.6%, Nasdaq +0.5%
- At the close: VIX 11.8 (-0.9pts); Treasuries: 2-yr 1.15% (+2bps), 10-yr 2.46% (+8bps), 30-yr 3.15% (+7bps)
- Best Sector in S&P500: Healthcare
- Worst Sector in S&P500: Materials
WTI crude oil spikes up 5% in early electronic trade to test $54.50 after non-OPEC oil producers' meeting yielded an output cut; Saudi minister also optimistic about being able to cut production more than anticipated. Asian indices mixed - Nikkei225 leading advancers as JPY remains weak due to rising US treasury yields, while Shanghai Composite falls about 2%; Weakness in China attributed to China Insurance Regulatory Commission banning insurers from investing in stocks (amid allegations of short term trading) and property sector losses on China Vanke warning of significant price declines next year. Multiple press sources speculating BOJ may have to step back from its policy easing stance with either reduced asset purchase program for JGBs or higher 10-year yield target due to steadily rising Treasury rates in the US also raising rates Of JGBs.
Nikkei +0.84% Hang Seng -1.54% CSI -2.42% Shamghai -2.47%
Eur$ 1.0564 VNH 6.9373 CNY 6.9146 JPY 115.69 CHF 1.0182 RUB 61.6730 WTI 54.14
S&P -0.11 EuroStoxx +0.09% Dax -0.07% SMI -0.41%
Macro :
- Saudis Signal Deeper Cuts After Deal With Non-OPEC Countries
- Mexico’s Three Largest Oil-Export Ports Closed on Poor Weather
- Turkey’s AKP Proposes Amendment Extending Presidential Powers
- France Extends Electric Car Bonus to Taxis to Fight Pollution
- Snap Said Holding Meetings w/ Investors Ahead of IPO: WSJ
- Giuliani Said Ruled Out for Secretary of State: CNN
- Italian President Asks Gentiloni to Form New Government
- Sony Said to Weigh Merging Gaming and Film Divisions: NYP
Keep an eye on :
- ABI BB : AB InBev Considers Review of Global Ad-Buying Business: WSJ
- ACS SM : Spain’s ACS Reduces Stake in Canadian Toll Road: Reuters
- ACA FP : Agricole, UniCredit to Agree on Pioneer Sale Today: Messaggero
- ACA FP : Credit Agricole Sees Pioneer Purchase Adding More Than 5% to EPS
- AIR FP : Iran Air to Buy 80 Boeing Aircraft Including 737, 777: IRNA
- AIR FP : Airbus Said to Be Close to Iran Deal: Reuters (Earlier)
- AMUN FP : Amundi Buys Pioneer Investments from UniCredit for EU3.545b Cash
- AMUN FP: UniCredit’s Pioneer Says Two Senior Executives Have Resigned
- AMUN FP : Amundi May Fund Pioneer Deal With Capital Increase, Loan: Sole
- ATL IM : Bids for Atlantia ASPI Stake to Be Submitted by Dec. 15: Sole
- BALSN SW : Baloise Boosts Share Buyback Program After Convertible Matures
- BKIA SM : Bankia and Banco Mare Nostrum's privatisation urged by European authorities; merger subject to conditions
- BPE IM : BPER Banca Targets Higher Revenue From Fees: Sole
- BMPS IM : Monte Paschi Says It Hasn’t Received Info From ECB on Request
- BMPS IM : Monte Paschi to Proceed With Capital Plan, Reopens Debt Swap
- BPOST BB : Belgian government open to selling shares in Bpost (translated) - http://bit.ly/2gmwVLq tidj.be
- BLT LN : BHP CEO Says Rally in Iron Ore, Coal Won’t Last: Australian
- BBVA SM : BBVA CEO Says Bank Ready to Take Part in Mergers: Expansion
- CCC PW : CCC to Fund New Stores From EU150m Convertible-Bond Proceeds
- CBK GY : Commerzbank’s Mandel Aims to Double Customer Growth: EaS
- DAI GY : Daimler Abandons Individual Bonus Payments: Stuttgarter Zeitung
- DBK GY : Weidmann Could Accept State Shielding Some Bank Investors: FAS
- DBK GY : Deutsche Asset Management to Expand in U.S., Asia: Moreau in WaS
- DB1 GY : London backs Deutsche Börse and LSE to resist Frankfurt base, Downing Street sees no reason why the planned exchange merger should be reviewed - FT - http://on.ft.com/2hAMY9j
- ENI IM : ENI exploring interest in selling ENI Gas & Power NV - http://bit.ly/2hah9ak
- GET FP : Eurotunnel Plans to Lift Tariffs for Trucks, Les Echos Says
- FCC SM : FCC Set for Possible Partisan Stalemate After Nomination Fails
- GLEN LN : Glencore, Qatar Buy Stake in Rosneft With Loans From Intesa
- IGG LN : IG CEO Says FCA Rules Could Push Traders Out of U.K.: Telegraph
- NK FP : Imerys CEO Michel Says Kerneos to Add to Profit in 3rd Year
- LAD LN : GVC rumoured to have prepared reverse takeover for Ladbrokes
- LMI LN : Lonmin Threatened by South Africa Over Slow Response to Massacre
- LONN VX : Lonza Said to Be in Talks to Buy Capsugel for Over $5b: Reuters
- MEO GY : Kaufhof Head Wants German Stores to Open 10 Sundays a Year: FAZ
- NOVN VX : Novartis Said to Eye Takeover of Stada, SonntagsZeitung Reports
- ODBE4 BZ : Odebrecht Exec. Says Co. Bribed Tens of Brazil Politicians: Veja
- PHIA NA : Philips to Sell Majority Interest in Lumileds to Apollo
- RBI AV : Raiffeisen May Reduce Stake in Event of Avaloq IPO, CEO to NZZ
- RKET GY : Rocket Internet Swaps Foodpanda Stake for Delivery Hero Shares
- RYA LN : Ryanair CEO to Slash 2017 Prices in Germany Price War: Funke
- SFL IM : Safilo, Christian Dior Couture Renew Eyewear Deal Through 2020
- SAB LN : Asahi Lead Bidder for SAB Eastern Europe Assets: Sunday Times
- SAN FP : Sanofi to Fire About 20% of U.S. Diabetes, Cardiovascular Staff
- SKY LN : Sky Board Faces Investor Dissent on Accepting Fox Bid: Telegraph
- FP FP : Total CEO Says Oil Market Will Remain Volatile: JDD
- UCG IM : UniCredit Pekao Unit CEO May Quit as PZU Completes Deal: Parkiet
- UCG IM : UniCredit’s Pioneer Says Two Senior Executives Have Resigned
- VIV FP : Vivendi Says It’s Not Part of Potential Orange-Canal Plus Talks
- VOD LN : For Vodafone, Being No. 2 Could Be Best - http://on.wsj.com/2gmyqsT
- VOW3 GY : VW Meeting With DoJ Last Week Didn’t Bring Progress, BamS Says
- ZIL2 GY : ElringKlinger Sees 30% of Sales From E-Car Parts: Automobilwoche