Dow unch. S&P+0.10% Nasdaq+0.15% Russell-0.18% VIX 13.61 (-0.73%) Golds 1,125.23 WTI $43.34
US Market closed slightly higher despite weakness a the opening. another devaluation of Yuan weighted on market, PboC fixed the yuan 1.6% lower and then stepped in to support the currency late in the session. Equity selling pressure persisted until the end of the European session with major equity indices across the old continent losing between 1.4% and 3.4%. Germany's Bild reported that the German government views the third Greek bailout package as insufficient. This was a noteworthy shift, considering just yesterday the market had believed the bailout agreement was all but complete. The eurogroup will attempt to extinguish the latest fire during a Friday meeting in Brussels. after europe close, U.S. indices rallied steadily off their lows with the S&P 500 swiftly returning above its 200d MA,f inancial sector (-0.9%) finished well behind the broader market amid growing expectations the Fed may be inclined to delay its first rate hike past September due to the recent actions undertaken by the PBoC. energy sector (+1.9%) led the rebound while crude oil endured a volatile session, but settled higher by 0.3% at $43.23/bbl and continued climbing during electronic trading. Technology was largely responsible of rally. AAPL was down -5.5% yest. & another 3.5% at the open to close up 1.5%. Volume were above average with 910mil shares...US After Hours PGN +21.1%, GBSN +14.6%, CSCO +3.9%, SZMK -8.8%, XNET -6.8%, MIDD -5.4% following earnings/guidance...Sentiment in Asia Pacific is tracking the reversal on Wall St with marginal gains, as the panic from Chinese currency devaluation and the fears of a more pronounced currency war in the far east are in retreat. CNY Continue to trade lower, Offshore CNH rate spiked up to 6.50 from 6.47 on the fix, but then fell back below 6.44. US equity futures fell nearly 10pts to 2,076 but then recovered to 2,088. US 10-year yields rose 3bps to 2.17%. PBoC held a press conference : "adjustment is almost complete" and that the speculation on devaluation running as steep as 10% were "nonsense", currency shift would be a positive for international confidence in Yuan as it allows a more market-driven determination for exchange rate value, Lenovo was down sharply after Q1 results despite beating on profit and growing revenue. Investors noted 8% decline in consumer PC shipments and a 5% cut in the workforce...Lenovo (992) -8%, Cathay Pacific -4.65%, Chugai +5.37%, Brilliance +3.64%, Tencent +5.56%, PetroChina+2.47% CNOOC +1.62%
Nikkei +0.99% Hang Seng +0.40% Shanghai +0.05%
Eur$ 1.1139 JPY 124.42 GBP 1.5623 CNY $6.4126 EURCHF 1.0890 RUB $64.27 WTI $43.45(+0.32%) Gold 1,122
S&P +0.20% EuroStoxx +1.52% Dax +1.31% SMI +1.43%
Macro :
- PBOC Yi Says Central Bank Will Step in When Market ’Distorted’
- PBOC to Step in When Market Behaves Like ‘Sheep’
- Gold Makes a Comeback as Yuan Devaluation Fuels Flight to Safety
- French Govt Advised to Revamp Drug Reimbursement Rates: Echos
- Fed’s Dudley Hopeful of Near-Term Hike
- PBOC Gives Verbal Support to Yuan, to Act When Swings Excessive
- London’s Worsening Housing Shortage Keeps Pressure on Prices
Keep an eye on :
- Luxury Sector in Asia : Hengdeli(3389) +3.55, Emperor Watch(887) +1.82%, Prada(1913) +0.28%
- AALB NA : Aalberts 1H Rev., Profit Increase; Sees Further Growth in 2015
- ABG/P SM : Abengoa to Make First Assets Sales in Sept., Cinco Dias Says
- AB1 GY : Air Berlin 2Q Net Loss EU37.5m vs EU8.6m Profit Y/y
- AGN NA : Aegon 2Q Net Rises; ROE Declines; Dividend In Line
- BMW GY : Brilliance (1114) +3.8% in HK
- DWNI GY : Deutsche Wohnen 1H Group Profit Rises, Raises FFO I Forecast
- DIC GY : DIC Asset 2Q Net Income EU3.53m vs EU2.36m; Sticks to Outlook
- GLEN LN : Glencore Proposes A$2b Refinancing Plan for Wiggins Island: AFR
- GN DC : GN Store Nord 2Q Rev. Misses Estimate; Cuts 2015 Group Forecasts
- HHFA GY : Hamburger Hafen 1H Ebit Up 1.5% Y/y; Confirms FY Ebit Forecast
- SDF GY : K+S 2Q Ebit I EU179.2m, Est. EU175.6m; Specifies 2015 Outlook ,K+S Will Review Any New Potash Corp Proposal ‘With Utmost Care’
- LSG NO : Leroey Seafood 2Q Revenue NK3.32B vs Est. NK3.3B
- MBTN SW : Meyer Burger 1H Ebitda Loss CHF32.7m; Confirms FY Targets
- MLP GY : MLP 2Q Total Revenue Rises; Ebit Unchanged; Pretax Drops
- NESN VX : Indian Govt Forced Nestle to Burn >35,000 Tons of Maggi Noodles
- NESN VX : Nestle 1H Organic Sales Beat Ests., Confirms 2015 Outlook ,Says 1H Sales Accelerated in Developed Markets {NSN NT09RS6VDKHS<Go>}
- RFRG NA : Refresco Gerber 2Q Rev. In Line With Ests., Confirms Outlook
- ROG VX : Chugai (4519) +5.37% in HK
- ROG VX : Roche Ends Collaboration With Wilex’s Heidelberg Pharma
- ROG VX : Roche Buys GeneWEAVE for $190m Upfront, Up to $235m Milestones
- RWE GY : RWE 1H Adj. Net, Ebitda Miss; Cuts U.K. Supply Business Yr View
- SZG GR : Salzgitter Says 1H Earnings Rise, Confirms Full Year Forecast
- AM3D GY : SLM Solutions 1H Adj. Ebitda Loss EU440k; Confirms FY Targets
- S92 GY : SMA Solar 1H Ebitda Improves Y/y to EU21.3M; Confirms FY Targets
- SPM IM : Saipem Says Prosecutor Seeks Documents on Petrobras Contract
- SSE LN : SSE Extends Aldbrough U.K. Gas Store Outage by 2 Days to Friday
- SAX GY : Stroeer 1H Operational Ebitda Up 36% Y/y; Boosts 2016 Forecast, Stroeer Buys Interactive Media, Internet Portal T-Online.de
- TKA GY : ThyssenKrupp Seeks to Lower Steel Shipment Delays: Handelsblatt
- TNTE NA : FedEx Unconcerned by EU Probe Into TNT Deal, WSJ Says
- TUI1 GY : TUI 3Q Underlying Group Ebita EU194.2m vs EU163.7m
- UTDI GY : United Internet 1H Sales Up 27.2% to EU1.8b
- VEI NO : Veidekke Combined Order Backlog Rises to NOK23.4B End 2Q
- TIM GY : Zeal Network Triples 1H Ebit; Confirms 2015 Forecast