From: LAURENT CHEKROUN () At: Dec 15 2014 07:40:09
Subject: >>> What to look at today - 15th of December 2014
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- ECB's Weidmann (Germany): Risk of spiralling deflation is very low; Current falling prices due to energy-cost decrease- Goldman Sachs analyst: Some evidence oil market is rebalancing but far from sufficient - Sees Venezuela helping rebalancing in 2015Keep an eye on :- O2C GY : C.A.T. Oil Says Bid Document Contains Errors- 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- 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- VOW3 GY : Bentley Chief Due