Asian shares were mixed and U.S. equity futures rose as investors awaited the next chapter in the Sino-American trade dispute. Australian and Indian assets outperformed following elections in the two countries.
Stocks in Japan were little changed, while they declined in China and Hong Kong. Australian stocks climbed and the Aussie jumped after a surprise election victory for conservative Prime Minister Scott Morrison. Indian shares surged as exit polls showed Prime Minister Narendra Modi is poised to retain power. China’s offshore yuan strengthened, showing some relief after trade turmoil dragged down the currency to a five-month low. The yen slipped as unexpected economic growth in Japan came with reasons for caution.
Nikkei +0.35% HAng Seng -0.65% CSI -1.30% Shanghai -0.88% Shenzen -1.29%
Eur$ 1.1153 CNH 6.9387 CNY 6.9117 JPY 110.14 GBP 1.2735 CHF 1.0118 RUB 64.6433 TRY 6.0737 WTI$ 63.66 +1.21%
S&P +0.32% EuroStoxx -0.12% FTSE +0.11% Dax -0.09% SMI -0.15%
Macro :
- FOMC Minutes, EU Parliamentary Elections: Week Ahead May 20-24
- U.S.-China Trade Talks Appear to Have Stalled: CNBC (Friday - 9pm)
- Switzerland Votes ‘Yes’ to Being Tax Home for Big Business
- Japan 1Q GDP Rose Annualized 2.1% Q/q; Est. -0.2%
- Modi’s Coalition Will Sweep to Victory in India, Exit Polls Show
- Austria’s Kurz Goes for Victory Hoping to Pillage Populist Vote
Keep an eye on :
- AC FP : Goldman Is Said to Near 2 Billion Euro Deal for PAI’s B&B Hotels
- ADP FP : Le Maire Postpones Decision on Aeroports de Paris Privatization
- AGFB BB : Agfa-Gevaert Names Activist Holder Roehrig Chairman of the Board
- AGFB BB : Agfa-Gavaert might consider selling radiology unit - DeTijd
- AIR FP : Boeing Wins Order From Air New Zealand for Wide-Body Jet:Reuters
- AML LN : Daily Mail says activist shareholder wants to wind up company and sell its assets
- BO DC : New B&O Luxury TV to Hit Markets After Summer, Borsen Reports
- BIDU US : Baidu Falls 17%, Most Since Nov. 17, 2008: Chinese U.S. Listings
- BOI FP : Boiron Says Regulator Gives Unfavorable Opinion on Reimbursement
- BON LN : Bonmarche Say Spectre’s Day Has Not Agreed to Meet With Board
- BSGR NA : B&S Group First Quarter Revenue EU425.9 Mln
- CPB US : Campbell Asks Mondelez, KKR to Reconfirm Bids This Week: AFR
- CRS LN : Cenkos Securities Urged to Lead Consolidation With Rivals: FN
- CBK GY : Commerzbank Partners With GTC to Automate Trade Finance Business
- DBK GY : FT : Why Goldman Sachs should buy Deutsche Bank - https://on.ft.com/2Jtq2uF
- DBK GY : Deutsche Didn’t Alert Watchdog on Suspicious Trump Accounts: NYT
- DTE GY : T-Mobile, Sprint Said to Prepare U.S. Government Concessions
- ERICB SS : Google Suspends Some Business With Huawei: Reuters
- FCT IM : Two Shipbuilders Pull Out of UK’s Support Vessel Shortlist: FT
- FRE GY : would not rule out large acquisitions, Frankfurter Allgemeine
- GIVN SW : Givaudan to Buy Vietnamese Flavor Company Golden Frog
- GYC GY : Grand City Properties First Quarter FFO I EU52.7 Mln
- IFX GY : *INFINEON TECHNOLOGIES SUSPENDS SHIPMENTS TO HUAWEI: NIKKEI
- KER FP : A Gucci Bubble Gets Pricked by the Trade War: Andrea Felsted
- LMI LN : Sibanye-Stillwater Says Lonmin Offer Won’t Be Further Increased
- MNZS LN : John Menzies Holders Vote Against Authority to Allot Shares Plan
- NOKIA FH : Google Suspends Some Business With Huawei: Reuters
- PURE LN : PureCircle Holder Olam Reports 16.57% Voting Rights
- REP SM : Exxon Gulf of Mexico Sale Is Said to Draw Repsol, Ineos Interest
- RET BB : Retail Estates Sees FY2020 Dividend EU4.40/Share, Est. EU4.52
- RBREW DC : Royal Unibrew Bought Back DKK136m of Shares on May 13-16
- RYA LN : *RYANAIR SEES BROADLY FLAT FY20 PROFITS, STARTS EU700M BUYBACK
- RQWE GY : RWE’s Bleak Gas Outlook Prompts Rethink for Further Price Drop
- SGKM SW : St.Galler Kantonalbank: Demand for Rights Above Maximum Number
- SNH GY : Steinhoff Seeks to Extend CVA Long-Stop Date to June 30
- TKO FP : Morgan Stanley acquires stake in French group Tikehau - FT : https://on.ft.com/30nQJGm
- UBER US : BlackRock, Tiger Tried To Sell Uber Shares Pre-IPO: WSJ
- YNGN LN : Young & Co’s Holder Octopus Investments Reports 9.09% Stake
- WDI GY : -ve Article in the FT : Wirecard document points to reliance on 3 partners, Company fails to explain why spreadsheet’s data should be disregarded - https://on.ft.com/2WUgV9m