Dow+0.14% S&P+0.14% Nasdasq-0.40% Russell+0.08%
US Market closed higher but was not able to settle above the 2,100. Japan's Nikkei (+3.7%) showed the largest uptick as commentary from Bank of Japan Governor Haruhiko Kuroda prompted speculation for future stimulus. At the same time, oil rebounded following yesterday's post-Doha meeting decline. energy (+1.9%) and materials (+2.1%) led financials (+1.1%) and telecom services (+0.8%). Conversely, heavily-weighted technology (-0.6%) and consumer discretionary (-0.5%) ended with the largest losses. Volume in line with average @ 877mil shares. US After Hours YHOO +2%, VMW +8.8%, MANH +7.1%, DFS +4.1%, IBKR +3.8%, ISRG +2.1%, LLTC +1.5%,CAMP -7.4%,WWD -2.4%, INTC -2.1% following earnings, ONCS +17.8% on +ve data, EMC+1.6% on VMware ern., Asian equity markets are trading mixed, though the modest gains observed in Australia and Japan are overshadowed by outsized losses in China. US equity futures are also pointing to a slightly lower open, while energy prices are down markedly after reports that Kuwait oil workers union has completed its strike. Shanghai Composite hit a 3-week low in the afternoon session below 2,950 with a decline of over 3% after the break on PBoC comments to the gov to be cautious to restrain lending and prevent company leverage ratios from overheating. In Japan, the latest merchandise trade figures were again "less bad". Terms of trade remained in surplus - albeit a smaller one than expected - while the declines in exports (-6.8% v -7.0%e) and imports (-14.9% v -16.6%e) components were both smaller than anticipated. Demand from Europe was especially surprising as exports rose for the 2nd straight month by 12%. Shipments to US were down over 5% and China by over 7%. Mitsubishi Motors (7211 JP) -16% on improper fuel test...Volkswagen contagion...
Nikkei +0.26% Hang Seng -1.35% Shanghai -3.57%
EUr$1.1357 CNH 6.4744 CNY 6.4660 JPY 108.94 GBP 1.4353 CHF 66.7319 RUB 66.5888 WTI 41.45 (-2.40%)
S&P-0.33% EuroStoxx -0.46% Dax -0.45% SMI- 0.28%
Macro :
- Eurozone 2016 GDP Growth View Cut to 1.5% From 1.8% by S&P
- Saudi Said to Borrow $10b From Mitsubishi UFJ, HSBC, JPM: FT
- Lagarde Says ’08-’09 Financial Crisis ‘Left Scars’: Le Figaro
- IMF’s Lagarde Says Doubtful Bank Loans Hamper Growth: Le Figaro
- Italy, Spain Banks Most Hit by Sovereign Exposure Cap: Bernstein
Keep an eye on :
- A2A IM : A2A to launch takeover bid on ACSM-AGAM
- ABBN VX : ABB 1Q Op. Ebita Beats Ests., Revenues Below
- AC FP : Accor 1Q Total Rev. In Line With Ests., LFL Sales Beat
- AC FP : Accor CFO Says Jin Jiang’s Intentions Haven’t Changed Since Feb.
- AKZA NA : AkzoNobel eyes small-to medium-sized takeovers - Het Financieele Dagblad
- ASML NA : ASML Sees 2Q Gross Margin Hit by EUV System Impact
- AXFO SS : Axfood 1Q Operating Profit Beats Estimates
- BAR BB : Barco 1Q Rev. EU255.1m vs EU241.6m Y/y; Confirms 2016 Outlook
- BSLN SW : Basilea Gets Contract by Barda of Up to $100m Funding
- BPI BP : Banco BPI Says It Doesn’t Recognize Santoro’s Version of Facts
- BETSB SS : Betsson 1Q Op. Profit Below Ests., Organic Growth ’Still Strong’
- BLT LN : +3% in Australia on numbers
- CABK SM : CaixaBank Studies Capital Increase for BPI Deal: Expansion
- CSGN VX : Credit Suisse Forms Team for Minority Hedge Fund Stakes: Buyouts
- CGG FP : Seismics Demand to Drop ~30% in 2016, Underweight TGS: JPMorgan
- DMGT LN : Daily Mail Said to Be Among Yahoo Bidders: WSJ
- EDF FP : EDF Employee Shareholders to Demand Delisting, AFP Says
- EDPR PL : EDPR Agrees to EU550m Asset Rotation Transaction Deal in Europe
- FIE GY : Fielmann 1Q Sales Little Changed; Pretax, Profit Fall
- GSK LN : Glaxo, Actavis Appeal U.K. ‘Pay-for-Delay’ Drug Antitrust Fines
- INTC US : Intel 2Q Rev. View Trails Est.; Plans to Cut 11% of Jobs
- INW IM : Inwit CEO says Cellnex bid better 'in theory' - La Stampa
- LSE LN : LSE and Deutsche Boerse working on common framework for clearing houses’ handling of bank defaults - FT
- SAP GY : SAP Confirms 1Q Preliminaries, 2016 Outlook; 1Q FCF Up 4%
- SYNN VX: Syngenta 1Q Rev In Line, ChemChina Deal to Complete by Year-End ,Syngenta Will Be Well Placed for When Market Improves: CEO
- TELIA SS : Telia 1Q Ebitda Beats Estimates; FY Guidance Raised
- TEMN SW : Temenos Reports Strong Start to 2016 1Q, Temenos Weak License Start Puts 2016 Goal at Risk: Baader-Helvea
- DG FP : Vinci Shareholders Approved Final Dividend of EU1.27 Per Share
- VOW3 GY : DOJ Said to Tell VW Not to Release Pollution Probe Results: WSJ
- VOW3 GY : VW Sued by Arizona AG Over Claims Diesel Rigging Cheated Buyers
- YHOO US : Yahoo 1Q Ebitda Tops Est., 2Q Ebitda, Rev. Outlooks Short
- ZC FP : Zodiac 1H Net EU43.7m vs EU109m; Confirms FY Target