Dow+1.06% S&P+1% Nasdaq+1.55% Russell+2.14% VIX 13.80
US Market closed higher helped by better earnings from JPM & CSX. WTI crude ended its day lower by 1.0% at $41.70/bbl. the Federal Reserve released its April Beige Book, which described overall economic activity across the twelve Fed Districts as expanding within a "modest" or a "moderate" range. Most districts reported job gains, which in turn looks to be leading to an uptick in wage growth. Elsewhere, manufacturing activity increased in most districts, although, expectations for continued expansion remained mixed. As for inflation, the Beige Book described continued optimism for slow and steady growth in 2016. Volume were in line with average at 983mil shares. US After Hours EXXI -59% after reports it is preparing to file bankruptcy; STX -6% after prelim Q3 revs below Consensus, LUB+5.4% on Earnings, WYNN+2.3%, Steve Wynn bought 72.8k sha . Asian equity markets are generally positive, though investors on the mainland are notably more cautious going into tomorrow's Q1 GDP and March economic data points. Nikkei225 is leading the charge higher amid continued weakness in JPY currency, as USD/JPY has now tested a 1-week high above 109.50. A surprise currency policy easing by Singapore central bank was a notable ripple that was also felt in significantly weaker Yuan fix by the PBoC. BOJ Gov Kuroda spoke extensively on the central bank policy, largely remaining optimistic about achieving inflation target with the current policy framework. As usual, Kuroda reiterated that the central bank is prepared to cut rates further, but generally sees underlying trend of inflation improving and economy recovering.
Nikkei +2.92% Hang Seng +0.76% Shanghai -0.18%
Eur1.1262 CNH 6.4972 CNY 6.4831 JPY 109.42 GBP 1.4128 CHF 0.9668 RUB$ 66.2195 WTI$41.19 (-1.34%)
S&P-0.01% EuroStoxx+0.54% Dax+0.54% SMI +0.45%
Macro :
- Nowotny: Negative Rate Has Helped Spur Euro-Area Lending
- Fed Beige Book: Prices Increased Modestly in Most Districts
- Italy’s Reforms for Banking System Go in Right Direction: Padoan
Keep an eye on :
- AAL LN : BHP, Rio, Glencore Seen Interested in Anglo Coal Assets: Reuters
- BKIA SM : Bankia Best Dividend Play Among Spanish Banks, JPMorgan Says
- BRBY LN : Burberry Group: Second Half Trading Update 14.04.2016
- CO FP : Casino 1Q France Retail Sales In Line, Hypermarkets LFL Beats
- CAST SS : Castellum Buys Norrporten From Sweden’s AP2, AP6 Funds
- CTLT US : Catalent Climbs; Lonza Said to Approach With Offer: Reuters
- DBK GY : Swiss Re, L&G Said to Weigh Bids for Deutsche Bank’s Abbey Life
- DBK GY : Deutsche Bank German Wealth Unit Chief to Leave: Manager Magazin
- DBK GY : Deutsche Bank Said to Agree to External Audit: Manager Magazin
- EDF FP : Areva, EDF Propose Further Tests at Flamanville Nuclear Reactor
- EO FP : Faurecia: Koller to Replace Delabriere As CEO From July 1
- FIM FP : Fimalac Reports Tender Offer for 1.7m Shares at EU101/Shr
- GAM SM : Gamesa Wins Contract to Supply 33MW for 5 Developements in UK
- GATE SW : Gategroup to submit revised proposal regarding executive management compensation to AGM
- GBT FP : Guerbet 2015 Net Rises 53% to EU39.9m
- IBE SM : California May Win Refunds From Shell, Iberdrola, Regulator Says
- ITV LN : ITV Said to Pursue Takeover of Canada’s Entertainment One
- KAHL SS : Kappahl 2Q Profit Beats Estimates, Sales in Line
- KUNN VX : Kuoni Says EQT Offer Successful as 72.6% of B Shares Tendered
- MMB FP : Lagardere to target travel retail and media buys, active divestments, DFS flagged as potential but difficult target– bankers
- LONN VX : Catalent Climbs; Lonza Said to Approach With Offer: Reuters
- LSE LN : Qatar Holding increases stake in London Stock Exchange Group to 10.3%
- LHA GY : Germanwings Crash Families Sue Lufthansa U.S. Flight School
- MERY FP : Mercialys 1Q Rental Rev. EU45.6m Vs EU39.6m Y/y
- MSK IM : Moleskine could attract private equity bidders - Il Sole 24 Ore
- NESN VX : Nestle 1Q Organic Sales a Small Beat, No Surprises, Exane Says
- RKET GY : Rocket Internet Says 2015 Results In Line With Expectations
- QIA GY : Qiagen Partners With Mirati on Companion Diagnostic Test
- G24 GY : Hearing Placing of 12m shares vis GS & CS - unconfirmed
- SEBA SS : SEB CEO Not Interested in Baltic Ops of Other Nordic Banks: ERR
- SW FP : Sodexo 1H Rev. In Line, Adj. Oper. Profit Misses, Keeps Forecast
- SREN VX : Swiss Re, L&G Said to Weigh Bids for Deutsche Bank’s Abbey Life
- TIT IM : Telecom Italia to choose between rival bids for Inwit stake in first week of May - Carlo Festa Blog http://bit.ly/1qqJ4E6
- TPK LN : Travis Perkins could be bid target for Wolseley or private equity- FT
- UNA NA : *UNILEVER 1Q UNDERLYING SALES GROWTH 4.7%; EST. 4.6%
- VIRP FP : Virbac 1Q Rev. EU211.4m, Flat Y/y
- VOW3 GY : VW Board Proposes to Cut Manager Bonuses by Half: Sueddeutsche