US Market closed lower on weaker Crude market, the House of Representatives passed a $1.1 trillion spending bill to fund the government through September, IEA Reports didn't helped the crude to perform as the different declaration over the week end, crude still weak this morning traded as low as $56,25 this morning, Retailers benefit from this move but cyclicals ended in line with the broader market, Outside of energy, commodity-linked sectors like industrials (-1.8%) and materials (-2.8%) bore the brunt of the pressure while influential groups like financials (-2.0%) and technology (-1.5%) did little to stem the bleeding. the technology sector ended in-line with the market. Apple and IBM lost 1.6% and 3.5%, respectively, with the latter weighing on the Dow. On the upside,Adobe Systems surged 9.1% after reporting better than expected results...sell off happened in volume with 940mil shres traded...VIX @21.08 +4,98%...Asian markets followed US poor performance of Friday session...Japan's ruling LDP party passed the snap elections test with flying colors, retaining the 2/3 supermajority with about 326 seats in the 475-seat lower house of Parliament. Govt officials have indicated that all cabinet posts will be unchanged, while cabinet sec Suga noted economic revival remains the govt's top priority. Separately out of Japan, BOJ's Q4 Tankan survey saw Manufacturing slip by a point to +12 and Outlook miss consensus by 3pts at +9. Industrial CapEx growth was higher than expected however, and Non-Manufacturing sectors were slightly better than expected. BOJ noted the relative underperformance of smaller sector of the economy demonstrates the impact of weak Yen on business sentiment...Out of China, the 2015 macroeconomic forecast issued by the PBoC saw 2015 GDP potentially slowing to 7.1% and CPI to 2.2% vs their 2014-end estimates of 7.4% and 2.0% respectively...Nikkei -1,42%...Hang Seng -1,12%..Shanghai -0,74%
Eur$ 1,2444 S&P +0,44%
Macro :
- OPEC El-Badri: OPEC has no set price for oil; Failure by members to invest may push the prices back above $100/brl again
- Abe Faces Policy Balancing Act After Commanding Election Victory
- United Kingdom Affirmed at AA+ By Fitch
- ECB Poised to Move to QE in Early 2015, S&P Economists Reiterate
- Greece Close to Exiting Bailout Program: Samaras in Real News
- ECB's Weidmann (Germany): Risk of spiralling deflation is very low; Current falling prices due to energy-cost decrease
- Qatar Stocks Enter Bear Market as Dubai Erases 2014 Gains on Oil
- Germany Plans to Cut KfW Subsidies for Coal Plant Exports: FAZ
- Goldman Sachs analyst: Some evidence oil market is rebalancing but far from sufficient - Sees Venezuela helping rebalancing in 2015
Keep an eye on :
- AC FP : Accor, China Lodging Agree Long-Term Alliance
- AI FP : Technip Plans to Buy Air Liquide’s Zimmer Polymer Technologies
- AIR FP : Airbus to Hand Over First A350 to Qatar on Dec. 22, Cos. Say
- ALV GY : Manulife & Allianz to Co-Invest Up to $1b in U.S. Real Estate
- ALO FP : Alstom’s Kron Seen as Possible Candidate for Sanofi Top Job: JDD
- ATCOA SS : Atlas Copco Sees ’Tougher’ 2015 for South Africa Mining: SVD
- BBY LN : Balfour Beatty to Receive >GBP1b Laing Offer in New Yr: Times
- O2C GY : C.A.T. Oil Says Bid Document Contains Errors
- CGG FP : Technip Doesn’t Intend to File a Tender Offer for CGG
- CBK GY : Commerzbank to Raise Prices for Corporate Clients: Handelsblatt
- GET FP : Eurostar attracts offers from CIC and GIC
- ICAD FP : Icade sells 36 Mr. Bricolage stores to Tikehau Capital for EUR 126m
- JMAT LN : Asahi Hd to buy Johnson Matthey Gold & Silver for $186m
- KER FP : Kering appoints Marco Bizzarri as CEO of Gucci; seeks new creative director
- LHA GY : Lufthansa Board Split on Future of Core Business, Spiegel Says
- NVTK LI : Novatek may get 150b Rubles From Wealth Fund in Jan.: Vedomosti
- OMV AV : OMV to squeeze out other shareholders in OMV Petrol Ofisi
- ORA FP : EE eyed for takeover by former CEO Tom Alexander if BT opts against deal
- UG FP : Peugeot Citroen May Produce Engines Outside France, Echos Says
- POM FP : Plastic Omnium’s 2014 Profitability Should Beat Last Year’s 7.7%
- ROG VX : Roche Says Cobas Can Screen Transplant Organs for HIV, Hepatitis
- SGO FP : Saint Gobain Wants Sika Mgmt to Stay, Haelg Tells SchweizAmS
- SAN FP : Alstom’s Kron Seen as Possible Candidate for Sanofi Top Job: JDD
- SIK VX : Saint Gobain Wants Sika Mgmt to Stay, Haelg Tells SchweizAmS
- SYNN VX : Syngenta Expects China Approval for MIR 162 Corn in Near Future
- TEC FP Technip Doesn’t Intend to File a Tender Offer for CGG
- TEC FP : Technip Plans to Buy Air Liquide’s Zimmer Polymer Technologies
- TEF SM : Telefonica Aims to Improve German Network Quality: Handelsblatt
- TSCO LN : Tesco Planning Disposal of Unused Properties: Sunday Telegraph
- VOW3 GY : Bentley Chief Due