US Market closed mixed with large cap clsoing higher while high beta names underperformed with small cap too, China eco data over the week end was main reasons for pressure on markets, OECD lowered its 2014 GDP Forecast for the US (from 2.6% to 2.1%) and for Eurozone (from 1.2% to 0.8%), few tevhnology names weighted on the market..TWTR -5.24% FB -3.74% LNKD -7.16%WB -11.6% YELP -6.31%...AAPL closed alomst flat...Energy outperformed +0.7%, crude rebound 0.7% @ $92.89/bbl...volume remains light @ 600mil shares...VIX @ 14.12 +6.09%...US After Hours on Earnings COOL -18% ALOG -3.5%, on secondary offers GST -7.2%, LGP -3.7% OPXA -3.7% AA -0.9% (Mandatory Conv. preferred stock)...FOSL +0.35 on Glenview stake - 13G...Disappointing data from this week end continue to weight on Asian mkt, RBS loweed China GDP Targetto 7.2% from 7.6%...Former PBoC adviser Fan Gang was more upbeat, noting China annual GDP growth would only slow to an annual pace of 7.0-7.5% in 2016-2020, and that current conditions do not require stimulus policies...In Japan, Fin Min Aso reiterated his view that local economy is recovering moderately, however Econ Min Amari said adverse weather in July-Aug may have
harmed consumption. Recall PM Abe is counting on Q3 recovery in consumer spending and investment from sharp contraction in Q2 in order to justify another increase in Japan's sales tax come 2015...Also of note in Japan, a 5.6 magnitude earthquake hit just 2km WNW of Iwai - no injuries...Nikkei -0.19% Hange Seng -0.08% Shanghai -0.09%
Eur$ 1.2940 S&P +0.03% EuroStoxx +0.12% FTSE +0.22% DAX -0.03% SMI +0.16%
Macro
- Fed to Hike Gradually Amid Moderate Growth, FOMC Survey Shows
- China Growth Targeting Driving Finl Instability, S&P Says
- RAJAN: SOME EUROPE ECONOMIES HAVEN'T RECOVERED FROM 2008 CRISIS
- Banks Object to Reach of ECB Stress Test Oath: Handelsblatt
Keep an eye on :
- ABG LN : African Barrick to Be Renamed, Take Barrick Out of Name
- ABI BB : AB InBev Brazilian Billionaires Buy $6.91m of Brewer’s Stock
- ADP FP : Aeroports De Paris August Traffic Rises 5.2% to 9.3M Passengers
- AOI SS : Africa Oil: Boost in Resource Estimates of Kenya Oil Fields
- AREVA FP : Uranium enters bull market after closing at $34/lb in NY
- AV/ LN : Aviva CEO Sees Borrowing Costs Rising in an Independent Scotland
- BAS1V FH : Basware could be targeted by Mastercard -Kauppalehti (500m mkt cap)
- CU FP : Club Med appoints BM&A as independent expert to assess offer filed by Gaillon Invest II and Fidelidade
- DTE GY : Dish could seek to bid for TMUS following the spectrum auctions later this year, may offer up to $40/shr
- COP US : ConocoPhillips to Auction Stake in U.K.’s Largest Oil Field: FT
- FNC IM : Finmeccanica CEO Says 4 Offers for Transport Business: Ansa
- HEIA NA : Could see SAB paying the right price to see the deal happening.
- ICL IT : Israel Chemicals May Cut Investment Furthers at Home: Globes
- IOM LN : Iomart Says Cinven’s Host Europe Ended Takeover Talks
- JAZ SM : Orange to Offer EU13/Shr in Cash for Jazztel, bid is friendly, see €1.3b synergies from network - Exane note att.
- NFLX US : Netflix CEO Sees European Ops Profitable in 5-10 Yrs
- SAB LN : Could increase bid on Heineken
- SBMO NA : SBM Sees Up to $400m Sales From Noble Energy Production Deal
- SUN SW : Sulzer Buys Advanced Separation, ProLab For Oil&Gas Exposure
- TEC FP : Signed an agreement to sell 100% of its North American diving assets to Ranger Offshore Inc; terms not disclosed
- TIT IM : Telecom Italia seeks to merge Tim Brasil with Oi to avoid its takeover
- UTDI GY : United Internet Selling Up to 11m Shrs in Accelerated Bookbuild
- VOD LN : Vodafone considered joint takeover of Phones 4U