Dow -0.82% S&P -0.61% Nasdaq -0.44% Russell -0.36% VIX @ 16 (+3.76%)
In Russia, Friday's rumors that Kremlin requested for media to stay put for the weekend in the absence of President Putin proved to be inaccurate. While there was still no resurfacing by the Russian leader, press reports indicated he was either treated for a flu or for back pain. Kremlin spokesperson also said the topic related to his mysterious disappearance is "closed." In Ukraine, Pres Poroshenko declared the ceasefire with pro-Russia rebels is "not working" as rebels continue to attack government positions on a daily basis, "often more than 60 times a day". Oil prices took an early tumble below $44/brl in electronic trade but quickly pared those loses. Saudi advisor al-Muhanna said it was too early to say if OPEC will keep production unchanged at its next meeting, adding prices are stabilizing around $60/brl and demand was strengthening. In Europe, Greek Fin Min Varoufakis noted that the Syriza govt may be willing to compromise its promises to the electorate in order to build up trust with its creditors and justifying the decision by pointing to the 4-year timeframe for the promised program. PM Tsipras also parried earlier German press reports claiming Greek civil servants should brace themselves for downsized salaries and pensions this month, stating there were absolutely no problem with liquidity in Greece...Asian indices traded mixed to flat with the exception of the mainland, where Shanghai Composite set fresh 6 1/2-year highs above the key 3,400 level. Outsized gains are attributed in large part to China Premier Li who warned that achieving 7% GDP target will be challenging but also added there is "relatively big" room for policy response since the more recent "short term" policies were not particularly strong. Outside of casting a wide safety net, Li expressed determination to tackle pollution, called on Japan to take responsibility for its history in order to repair China relationship, and promised to address housing shortage with 1M new affordable units. Outside of the Li comments, CSRC spokesperson welcomed China pension funds' push to invest funds directly in the stock market, while the NEA reported Jan-Feb YTD power consumption slowing to 2.5% from 3.8% for the entire 2014.
Nikkei -0.04% Hang Seng +0.39% Shanghai +2.01%
RUB $62.05 WTI $44.31(-1.18%) Brent $54.32 (-0.64%) EURCHF 1.05966 CHF 1.0061
EUR$ 1.0532 S&P +0.16% EuroStoxx +0.38% Dax +0.38% SMI+0.24%
Macro :
- France’s Fabius Supports Euro-Dollar Parity, Les Echos Says
- Oil Slumps to Six-Year Low as U.S. Production Seen Filling Tanks
- Euro Seen Draghi’s Savior as Week-Old QE Targets Lagging Economy
- Chinese Reserve Ratio Cut Seen on Record Interbank Cash Squeeze
Keep an eye on :
- AERL LN : Ireland Says Engagement With IAG on Aer Lingus Continuing
- AIR FP : to announce $1.5bil Helicopter contract with South Korea - Les Echos
- AREVA FP : Areva Is Studying Possible Chinese Investment, Echos Says
- ARYN VX : Aryzta 1H Revenue Rises, Sees European Revenues Falling
- CA FP : CarrefourSA to take over 29 Antalya Market Supermarkets
- DAI GY : Daimler Investigates Over-Service of Chinese Mercedes Dealers
- DSM NA : DSM and CVC Report Partnership for Polymer Intermediates
- EDF FP : EDF Names Graillat Head of Relations With Areva: Echos
- FLG LN : European Commission Clears Aviva’s Friends Life Acquisition
- GWI1 GY : Gerry Weber 1Q Ebit Declines 5%, Net Down 9%
- INVEB SS : Investor AB’s Moelnlycke Plans to Double Sales by 2020, Dagens Industri Says
- LI FP : Klepierre Buys Madrid Shopping Mall From Orion
- LG FP : Holcim Proposed Lafarge Negotiations on Merger Ratio, Governance
- LIN GY : Linde 4Q Oper. Profit In Line; Sees Higher ’15 Rev, Oper. Profit, Says ‘Well on Way’ to Meet Targets, Gives Unit Goals
- MUV2 GY : Munich Re CEO to Leave Commerzbank Spvy Board: Handelsblatt
- OMV AV : OMV raises OMV Petrol Ofisi stake following buyout offer, jointly own a 99.47% stake in total in the Turkish energy company OMV Petrol Ofisi AS following an offer by OMV for minority shareholders.
- PARG SW : Pargesa 2014 Net CHF636.9m vs CHF393.9m Y/y
- RBS LN : Said to Favor UBP as Buyer for Coutts International
- RNO FP : Ghosn May Remain as CEO of Renault Until 2022, Echos Says
- SAABB SS : Saab in Negotiations With Saudi Arabia for New Weapons Order: DI
- SFL IM : Safilo Sees 2015-2020 Cumulative Free Cash Flow ~EU350m-EU400m
- SAN SM : Santander Seeks to Sell Call Center Service: El Confidencial
- SU FP : Schneider to Reduce Executive Retirement Payments: Echos
- SIK VX : Sika confirms 14 April AGM date (Agenda will include proposals submitted by Schenker-Winkler Holding AG, the shareholder group led by Ethos and the shareholders Bill and Melinda Gates Foundation Trust, Cascade Investment, Fidelity Worldwide Investment and Threadneedle Investments)
- ST/ LN : Standard Life May Raise Stake in HDFC JV to 35%: ET Link
- TIT IM : Wireless-Tower Unit Inwit Files for IPO in Milan
- THR BB : ThromboGenics Says Jetrea Gains Approval in Brazil
- VOD LN : Spain Court Rejects Vodafone Claim Against Telefonica: El Pais
- VOW3 GY : Metzler Said to Be Close to Selling LeasePlan