Shanghai Composite is leading regional indices after a mixed set of economic data out of China. Q3 GDP was the most critical figure, marginally beating expectations at 6.9%, and the markets responded positively even though this rate of growth is the lowest in 6 years. Additional economic datapoints for September are giving investors less reason for optimism, and in the eyes of some analysts, are showing sufficient divergence to question the accuracy of the GDP print. Fixed asset investment growth printed a new multi-year low, as property investment slowed and property construction remained in the red. Industrial output data were similarly downbeat, coming in at a 6-month low of 5.7%. Power generation and steel output were down y/y, while oil production growth slowed to 2.7% from 3.6%. China Stats Bureau (NBS) spokesperson Sheng spoke after the release, stating the economy is still faced with downward pressure and also pointing to global weakness resulting in large pressure on export space. Looking ahead however, Sheng said the economy would maintain stable growth in Q4 and 2016, Premier Li stated it would not be easy for China to achieve 7% (target) GDP.
Nikkei -0.78% Hang Seng -0.44% Shanghai -0.12%
Eur$ 1.1363 CNY 6.3631 JPY 119.30 GBP 1.5439 BRL 3.9236 RUB$ 61.56 WTI $46.90 (-0.76%)
S&P -0.22% EuroStoxx-0.06% Dax-0.04% SMI-0.28%
Macro :
- Greece Must Complete Bank Recapitalization in 2015, Tsipras Says
- Economists still see Fed rate rise before year end (FT) http://on.ft.com/1Xd3uMd
- Will the US ever raise interest rates again? (FT) http://on.ft.com/1Xd3N9O
- Leader of Qaeda Cell Killed in Airstrike in Syria, Pentagon Says - NYT
- Japan's biggest association of labor unions, Japanese Trade Union Confederation, said to seek a 2% raise as part of annual spring wage negotiations - Nikkei
- The World Hits Its Credit Limit, And The Debt Market Is Starting To Realize That - ZH - http://bit.ly/1Xd6doM
- ECB’s Draghi to Signal Further QE, Analysts Say: Sunday Times
Keep an eye on :
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- ABI BB : Coca-Cola is next target of Anheuser-Busch InBev’s Lemann - IstoE Dinheiro
- AC FP : Accor to Add ~250 Hotels in Asia-Pacific in Next Few Yrs: Times
- ACS SM : ACS Group Reaches Financial Close on M11 Project in Ireland
- AF FP : Hollande: Air France Unions Need to Show Commitment to Dialogue
- AAL LN : Anglo American to Cut 120-140 People From Chile Unit: Mostrador
- AREVA FP : Areva to Sign Accord With Unions on Job Cuts on Oct. 19: AFP
- POP IM : Pop Milano May Want to Accelerate on Merger Options: Corriere
- BARC LN : Barclays pushes to shrink investment bank - http://on.ft.com/1LSKoJh
- BARC LN : Barclays Says It’s Ending Bmarkets Activity in France
- BSLN SW : Basilea Pharmaceutica Files for U.S. IPO Via Cowen, Guggenheim
- CDI FP : Christian Dior 1Q Rev. EU9.05b vs EU7.8b Y/y
- DCG LN : Dairy Crest to become more attractive takeover prospect following regulators’ ok for milk-unit sale this week - Sundfay Tiumes
- BN FP : Danone 3Q LFL Sales Beat Ests., Confirms 2015 Forecast
- DBHN GY : Deutsche Bahn to Cut Jobs, May Sell Arriva Stake, CEO Tells Welt
- DBK GY : Deutsche Bank Announces Plan to Change Organizational Structure
- DBK GY : Deutsche Bank May List Postbank as Early as Spring 2016: Welt
- DWN GYU : Deutsche Wohnen Investors Advised by ISS to Reject LEG Deal
- DGE LN : Diageo May Sell Chalone Vineyard, The Times Says (Earlier)
- EDF FP : EDF in Final Talks With Chinese Partners on U.K. Nuclear Plant http://on.wsj.com/1Xd4XlK
- EDF FP : UK plant deal hinges on ambitions of London, Beijing and EDF
- EMSN SW : EMS-Chemie 9-Month Sales Rise in Local FX
- ENGI FP : Engie Hires Ex-Citi Trader Parasram as Head of Financial Oil
- ERF FP : Eurofins Says It Will Hit 2017 Revenue Target a Year Early
- FCA IM : Ferrari IPO Said to Be Oversubscribed
- HSBA LN : HSBC to Keep London HQ, Times Cites Shareholders, Insiders
- MAERSKB DC : Maersk Plans $3b Investment in Indonesia Over 5 Yrs: Daily
- MEO GY : Metro 4Q Sales In Line With Ests., Sees Good Christmas Results
- OSR GY : Cree Gains Edge at Trial Targeting LEDs; Shares Pare Decline
- PAH3 GY : Porsche’s Winterkorn to Cease as Member, Chairman of Exec. Board
- ROG VX : Roche Gets FDA Approval for Viral Load Tests, Cobas 6800/8800
- SPM IM : Saipem Banks Weigh Refinance Plans Based on Future Ratings: Sole
- SRS IM : Saras Sees Total Ebitda of EU690m in 2016, EU730m in 2019
- SBMO NA : SBM Wins Front-End Engineering, Design Order From Technip
- GLE FP : Soc Gen CEO Says Strategy Doesn’t Include New Retail Mkts: Sole
- SYNN VX : group of Syngenta shareholders plans a public push for a broad strategic review http://on.wsj.com/1Pxpy1I
- TSM US : Lowers 2015 outlook for semiconductor industry to flat from +3% - Press
- TEG GY : TAG Won’t Take Part in Real-Estate M&A Amid High Prices: EamS
- TKA AV : Austria Plans to Sell Remaining Telekom Austria Stake: Kurier, Telekom Austria shareholder OBIB denies exit rumours
- TIT IM : Telecom Italia Reviewed Metroweb Deal With FSI, F2i Funds
- UBSN VX : Swiss Capital Rules to Be ‘Manageable’ for UBS, CS: NZZ
- VISA Europe : Visa Europe Deal May Be Announced as Early as Next Week: FT
- VOW3 GY : VW’s Japanese Sales Seen Falling 30% in Early Oct.: Nikkei
- WIN GY : Wincor May Be Getting Ready for Possible Sale: Manager Magazin ( Frid. Night)
- WIN GY : Diebold in Talks With Wincor Nixdorf on Potential Transaction (Saturday)
- ZEHN SW : Zehnder CEO Berchtold Sees Signs of Better Business in 2016: FuW