After falling some 5% last week, the Nikkei225 is leading regional bourses to the upside with an over 3.8% jump. Along with an impressive rebound on Wall St on Friday and weaker JPY, traders are reacting to a Nikkei report speculating the pension fund GPIF will increase its portfolio allocation for domestic stocks to 25% (from current midpoint of 12%) in a move as early as this month. Japan chief cabinet Sec Suga responded to press speculation, stating he does not have any facts regarding plans for GPIF reallocation...- Over the weekend, situation in Hong Kong continued to deteriorate as clashes between students and police resulted in 70 people injured and dozens arrested. In China, CICC speculated the PBoC may inject another CNY400B into the banking system through Pledged Supplementary Lending facility. This follows reports of a CNY200B injection in 3-month standing liquidity facility (SLF) into the banking system, estimated as the equivalent of a 20bp cut in RRR rate....in the US IBM Agreet to sell its chip unit to global founderies for $1.5b....Nikkei +3.75%...Hange Seng +0.75%...Shanghai +0.51%...
Eur$1.2756 S&P +0.54% EuroStoxx +0.34% FTSE +0.41% DAX +0.37% SMI -0.12%
Macro
- Fed to End Bond Buys This Month as Planned, Rosengren Says: WSJ
- Saudi Arabia Cut Aug. Crude Exports by 330k Bbl/Day: JODI Data
- Goldman, JPM, Credit Suisse to Charge for Euro Deposits: Dow
- U.K. Government Will End Some Subsidies for Solar Farms
- Germany Shipping Lenders to See 10%-20% Asset Writedowns: FT
Keep an eye on :
- ABE SM : Abertis Notifies Purchase of 1,000 Telefonica Towers: Europa
- AZN LN : Pfizer Less Likely to Pursue AZN After AbbVie-Shire Collapse: FT
- BN FP : Danone Undecided on Mead Johnson Takeover- WSJ
- EDEN FP : Edenred Buys 34% Stake in UTA for About EU150m
- GET FP : UK government’s 40% Eurostar stake attracts strong interest from infrastructure funds
- GYC GY : Grand City Starts Cash Tender Offer, Intends to Issue New Bonds
- GBLB BB : Groupe Bruxelles Lambert Adj. NAV Drops to EU87.57/Shr on Oct.17
- HOLN VX : Birla Said to Mull Bids for Brazil Assets of Holcim-Lafarge
- IBM US : IBM Said to Pay Globalfoundries $1.5 Billion to Take Chip Unit
- ABI BB : AB InBev to Expand Leuven Brewing Capacity by 13%: Trends Link
- ISLANDBANKI : Islandsbanki Seeks to Sell Shares to International Investors
- MEO GY : Metro 4Q Sales In Line With Ests., Confirms Profit Forecast
- MOBB BB : Mobistar 3Q Adj. Ebitda Beats Ests.; Has Subscriber Gains Again
- NUO NA : Nutreco to Be Bought by SHV at EU40/Shr, or EU2.7b
- UG FP : Peugeot Citroen Sees 30% Latin America Sales Drop 2014: Echos
- PHIA NA : Philips 3Q Sales, Ebita Ex-Items Below Estimates, Says Facing Sustained Softness in China, Russia
- PRU LN : Prudential to Invest in GBP1b U.K. Tidal Power Plant in Wales
- RBS LN : Ulster Bank said to be in plans to sell hotel loan portfolio unit to Goldman Sachs
- RNO FP : Renault May End Daimler Deal to Work With Nissan: Automobilwoche
- SAN FP : Sanofi, Regeneron Report Start of Phase 3 Study of Dupilumab
- SAP GY : SAP 3Q Op. Profit Misses; Raises Cloud, Cuts Op. Profit Outlook
- STAN LN : Standard Chartered to Close Thousands of U.A.E. Accounts:Reuters
- SHP LN : Shire Looking at NPS, Cubist as AbbVie Deal Ends: Sunday Times
- SHP LN : Shire Interim CFO James Bowling to Step Down, Join Severn Trent
- TKKT FP : Tarkett Aims to Protect Margins In Challenging Economic Context
- TFI IM : Approved issuance of up to 94.6M shares to existing holders at at €2.10/share
- TSCO LN : PE Groups Plan to Bid for Tesco Asia Assets: Times
- TSCO LN : Tesco Profit Shortfall May Be Smaller Than Initially Feared: Sky
- VIV FP : Vivendi Wants to Buy L’Express From Roularta, Les Echos Says