US Market Closed today for President Day.
Asian equity markets are generally higher, tracking a sharp rally on Wall st on Friday. Nikkei225 is soaring with about a 7% gain, boosted by weaker Yen, as disappointing Q4 GDP(biggest contraction in a year - both q/q and annualized - at -0.4% and -1.4%) lifted the outlook for more policy easing from the central bank. USD/JPY was up some 80pips heading into Tokyo close, testing ¥114 handle. Shanghai Composite has returned from a week-long break, and after opening down by nearly 3% has since cut that decline in half. Japan PM Abe spoke throughout the session - initially noting the impact of further sales tax hikes on consumers will have to be considered and then adding that the govt is prepared to take appropriate action on forex to address excessive volatility
Stateside, the death of US Supreme Court justice Scalia - one of the most conservative voices in the court - has sparked off a contested exchange between the two parties. Democrat leaders and the White House expect a nomination to take place before the end of Obama's term this year, while Republican leadership calls for the vacancy to be filled when a new President is elected.
Nikkei +7.16% Hang Seng +3.06% Shanghai -0.23%
Eur$1.1226 CNH 6.4940 CNY 6.4968 JPY 113.87 GBP 1.4526 CHF 0.9798 RUB$77.6744 WTI$29.23(-0.70%)
S&P +0.97% EuroStoxx+2.55% Dax+2.41% SMI +2.18%
Macro :
- S&P Target Cut by 200 Points to 2,000 on ‘Greater Risk’: BofAML
- ECB’s Nouy Says Banks Should Review Their Business Models: Agora
- Third Point Says Total Equity Short Exposure Nearly $4.5b
- U.K. Drops Plans for Sugar Tax, Will Pressure Companies: FT
- China Concerned About EU’s Dumping Probe on Its Steel Products
- Germany to Spend EU300m on Electric-Car Charging Stations: Bild
Keep an eye on :
- ABG SM : Waddell & Reed Takes Stake in Abengoa, Expansion Reports
- AGS BB : AGEAS has EUR 3bn available for acquisitions - De Tijd
- AAL LN : Anglo American Took Too Long to Sell Some Assets, CEO Tells FT
- SPR GY : Axel Springer Decides Against Transformation Into KGaA
- BDT GY : Bertrandt 1Q Sales, Operating Profit Rise
- EN FP : Orange-Bouygues Telecom Talks Still Stuck on Valuations: Figaro
- EN FP : Orange-Bouygues Telecom Preliminary Deal Seen on Feb. 16: JDD
- BG/ LN : Egypt Renegotiating Gas Contract With BG as Oil Prices Drop
- CA FP : Carrefour Says French Offices Raided Feb. 9 by Anti-Fraud Body
- CSGN VX : Qataris, Saudis Buying Credit Suisse’s CoCo Bonds, SZ Reports
- CSGN VX : Norwegian Sovereign Fund Bought Credit Suisse Shares This Week
- DELL US : NTT Data Said to Be in Lead to Buy Dell’s Perot Systems: Rtrs
- EDF FP : EDF Won’t Decide on Hinkley Point Investment Next Week: JDD
- EDF FP : EDF May Need EU5B Capital Increase, Le Figaro Says
- ELUXB SS : Electrolux CEO Wants to Grow Co. Organically, Through Deals: DI
- FCX US : S&P cuts rating to junk; cut two notches to BB from BBB-; outlook negative
- FCX US : Freeport to Sell 13% Stake in Morenci JV to Sumitomo for $1b
- GAM SM : Iberdrola Seeks Higher Price for Gamesa Stake: Expansion
- GILD US : FDA Approves Harvoni for Use for Hepatitis C Virus Genotype 1
- GLEN LN : Three Noble Group LNG Traders Said Leave for Glencore: Reuters
- GLEN LN : Glencore Had ‘Pressure’ to Sell Coal Mine to Local Company: FT
- IMG LN : Imagination Technologies the subject of bid chatter this week - FT (+5.24% on Friday)
- ITV LN : ITV Said About to Name Bazalgette as Next Chairman: Sky News
- LHN VX : JSW in Talks to Buy Lafarge, Jaypee Cement Assets: Hindu
- NESN VX : Mondelez Cheese, Grocery Unit Up for Sale Next Month: S. Times
- NOVN VX : Arrowhead Research Holder Novartis Reports 5.57% Stake
- PSX US : Berkshire Hathaway Buys 1.08m Shares of Phillips 66
- REP SM : Repsol to Meet With Standard & Poor’s, Confidencial Reports
- RR/ LN : Rolls-Royce May Change Targets for Executive Pay: Telegraph
- G24 GY : Scout24 4Q Sales Rise 14%; Op. Ebitda Up 15%
- VOD LN : Vodafone, Liberty May Agree on Dutch Tie-Up This Week: Telegraaf
- VOW3 GY : VW’s Winterkorn Notified of U.S. Probe in 2014: Bild am Sonntag
- WMH LN : William Hill Said to Join NYX Gaming for Openbet Bid: Telegraph