Asian equity markets and US futures are modestly higher despite the down day on Wall St on Friday and bomb explosions in NYC and suburbs over the weekend. Japan was closed for holiday and Australia trading session was curbed by technical glitches, but China returned from two days of holidays to stage a rally led by property developers and financials. In commodities, Oil was up nearly 2% from the close of pit trading on Friday, even though OPEC Sec Gen said this month's meeting in Algeria is for consultation only, diminishing any prospects of a framework toward a production freeze. Instead, there's some focus on Lybia and the halt of its Ras Lanuf oil terminal exports due to clashes with militants. Recall last week, the terminal was taken over by troops loyal to Gen Khalifa Haftar who declared war on the Islamist govt some 2 years ago. China August property prices have continued to rebound, though there's increasing concern of a bubble in the top-tier cities.
Nikkei +0.70% Hang Seng +1.04% CSI +0.68% Shanghai +0.60%
Eur$ 1.1170 CNH 6.6662 CNY 6.6693 JPY 102.04 GBP 1.3048 CHF 0.9788 RUB 64.8845 WTI$ 44.36 +1.70%
S&P +0.34% EuroStoxx +0.93% Dax +0.86% SMI +0.58%
Macro :
- Weidmann Says Banking Supervision Should Be Split From ECB: SZ
- McDonald’s May Face $500m Luxembourg Back Tax Bill: FT
- Stiglitz Says Monetary Policy Now No Longer Enough
- IMF’s Lagarde Says Globalization Downsides Need to Be Addressed
Keep an eye on :
- ABBN VX : ABB Not to Sell Its Power Unit Despite Activist Pressure: Paper
- AIR FP : Airbus Said to Introduce Restructuring Plan in October: FT
- ALO FP : Alstom Should Have Discussed Restructuring Plan, Minister Says
- AAPL US : Apple Asks Foxconn to Get Ready for More IPhone 7: Econ. Daily
- ASML NA : Samsung Says It Sold Stakes in ASML, Seagate, Rambus and Sharp
- ATL IM : Macquarie to Use EU4b Infrastructure Fund in Italy: CEO to Sole
- BAYN GY : Bayer-Monsanto Deal ‘Patently Anti-Competitive’: CLSA
- BT/A LN : U.K. Could Fine Mobile Operators Over Coverage: Telegraph
- DBK GY : Germany Expects U.S. to Cut Deutsche Bank Claim: Handelsblatt
- DGE LN : Diageo Reviewing Staffing Levels at London HQ, Sunday Times Says
- EDF FP : Joint Polish Bid for EDF Assets Is Outside Procedure: Rp.pl
- FCA IM : Fiat Chrysler turns down EUR 1bn private equity offer for unit Magneti Marelli - http://bit.ly/2cUkhnH
- LHN VX : LafargeHolcim May Pull Out of Some Countries, Chairman Tells SZ
- NG/ LN : Fosun, China Gas Considering Joint Bid for National Grid: Times
- NOVN VX : Novartis: BAF312 Significantly Reduced MS Disability Progression
- RR/ LN : Rolls-Royce to Cut Another 200 Management Positions: Spokesman
- RDSA NA : Argentine Shell CEO Says Co. May Be Sold After Review: La Nacion
- SAN FP : Sanofi Sues Merck to Block Rival of Lantus Diabetes Drug
- SFR FP : SFR Minority Shareholders Protest Altice Buyout Plan: Les Echos
- TALK LN : U.K. Could Fine Mobile Operators Over Coverage: Telegraph
- TEF SM : U.K. Could Fine Mobile Operators Over Coverage: Telegraph
- TFI FP : TF1 Wants to Be Paid by Distributing Companies, Echos Says
- HO FP : Thales, Airbus Agree Not to Hire Each Other’s Employees: Echos
- FP FP : Oil Giant Total’s Stock Could Rise 20% - Barron's
- VIV FP : Canal+ to Use Orange, Free as Distributors, Les Echos Says
- VOD LN : U.K. Could Fine Mobile Operators Over Coverage: Telegraph
- VOW3 GY : Audi’s Knirsch to Be Put on Leave in Diesel Scandal: BamS
- WPP LN : WPP’s CEO Sees ‘Rocky’ Dollar on Trump Win; Slower U.K. Growth