US Market closed higher with Blue Ceap Outperforming Tech & Small cap, Mkt retreat on FOMC Minutes but not for long, Eight sectors ended in the green with industrials (+1.0%) spending the entire session in the lead. Hertz (HTZ 30.33, -1.23) endured quite the roller coaster ride. The stock settled at $31.56 yesterday, but fell all the way to $27.47 this morning after the company said it expects to fall short of its full-year guidance, which was withdrawn. The stock spent the bulk of the day inching off its low with a big boost coming after Carl Icahn disclosed a stake in the company and said he may seek a seat on the board. Hertz ended the session with a 3.9% decline. The consumer discretionary sector (+0.5%) finished in second place after a handful of retailers reported their quarterly results. Volume continue to be light with 530mil shares...VIX @ 11,80 -3,36%. Shanghai Composite is down 1% entering its midday break after China HSBC flash manufacturing PMI surprisingly sank to a 3-month low. 50.3 print was well below consensus 51.5 and also marked the first sequential decline in 5 months. In Japan, a Nikkei report indicated the govt is looking to set aside ¥1.0T in funds in the 2015 budget to build a stimulus fund that would include public-works projects and subsidies for small and midsize businesses. Report speculated the funds would be serve as a cushion if PM Abe decides to proceed with raising consumption tax to 10% after digesting Q3 economic data...USD remained generally bid in morning Asian trade in the wake of a somewhat more hawkish sentiment expressed in the latest Fed meeting minutes. EUR/USD is now down about 50 pips since the release, falling to 11-month low below $1.3250, GBP/USD is now down 60pips below $1.6560, and USD/JPY got within 5pips of ¥104 - also a 4-month high. AUD/USD is down 70pips, with some added headwinds following the China PMI data, testing an 11-week lows around $0.9240...Nikkei +0.79% Hang Seng -0.84% Shanghai-1.05%
Eur$1.3248 S&P +0.03% EuroStoxx +0.32% FTSE +0.11% DAX +0.36% SMI +0.42%
Macro
- China Manufacturing PMI Drops to Three-Month Low Pushing Aussie Dollar Down to Eleven-Week Low & equities Lower
- Many on FOMC Saw Possible End of Easy Policy Sooner: Minutes
- Separatists Shoot Down Ukraine SU-25 Fighter Plane: Reuters
Keep an ey on :
- AB1 GY : Air Berlin 2Q Net Income EU8.6m vs Loss EU38m Y/y, to Reduce Capacity by 10%, Fleet by 10 Planes, Targets Sustainable Profitability Within 3 Years
- AIR FP : Himalaya Airlines Plans to Buy 15 Airbus A320s, Tribune Says
- AH NA : Ahold 2Q Rev. EU7.42b; Analyst Est. EU7.5b, 2Q U.S. ID Sales, Underlying Oper. Inc. Miss Ests.
- AZN LN : Pfizer Said to Explore Alternatives to AstraZeneca Purchase
- BALSN SW : Basilea Says EMA Accepted Isavuconazole Application for Review
- BAMNB NA : BAM Posts 1H Loss; Sales EU3.38b, Est. EU3.39b
- BES PL : BES’s Junior Bondholders Hire Shearman for Challenge: Reuters
- CBK GY : German Government not planning exit before restructing is complete in 2016 - Rheinische Post
- CGSN VX : Credit Suisse Board Meets on Growth Strategy: Handelszeitung
- DFDS DC : DFDS 2Q Profit Grows on Higher Revenue; 2014 Outlook Is Raised
- EDPR PL : Sonae 1H Net Rises to EU52m From EU15m Y/y
- ESS PL : Angeles Buys 3.65% More of Espirito Santo Saude
- FME GY : Fresenius Medical Care’s Phoslyra Gets Patent Challenge: FDA
- GEA GY : GEA Seeks to Save at Least EU100m/Yr by 2017 With New Structure
- GLEN LN : BHP Billiton assets could interest Glencore
- GSK LN : Mylan Still in Bidding for Glaxo’s Mature Drug Portfolio: DJ
- GSK LN : GSK Gets FDA Approval for Arnuity Ellipta to Treat Asthma
- IFX GY : MORE: Infineon Agrees to Buy Intl Rectifier for $40/Shr in Cash, Would Have Liked to Get IRF for Cheaper
- IFX GY : Infineon Price for IRF ‘Rich’ If Margin Target Not Met: Liberum {NSN NAMFB46TTDSJ <go>}
- KUD SW : Kudelski Increases Guidance for FY Revenues, Profitability
- KUNN SW :Kuoni Sees FY Ebit in Range of CHF85m to CHF95m, 1H Ebit Loss Less Than Est.
- LNZ AV : Lenzing Sees Continued Price Pressure in Global Fiber Market
- LUX IM : Luxottica controlling shareholder looking for successor to present CEO - Milano Finanza
- MATAS DC : Matas 1Q Revenue DKK827m; Est. DKK830m
- NBL US : Noble Energy Slips 1.2% After Hamas Fires Rockets at Platform
- NOBN SW : Nobel Biocare Raises Ebit Margin Outlook for 2014, Mid-Term
- OPERA NO : Opera 2Q Sales Rise; Raises 2014 Revenue, Ebitda Guidance
- RBI AV : Raiffeisen 2Q Net Income Beats; Fully-Loaded CET1 Ratio 10.4%, Says Russia Attractive in Mid & Long Term
- RTL BB : *RTL TO PAY SPECIAL INTERIM DIV EU2/SHARE IN SEPT.
- SCR FP : Scor Outlook Raised to Positive by Fitch on Solvency, Profit
- SIP BB : Sipef 2Q Total Palm Oil Output 69,412 Metric Tons, up 7.85%
- SON PL : Sonae 1H Net Rises to EU52m From EU15m Y/y
- STLN SW : Schmolz & Bickenbach Posts 1H, 2Q Profit, Raises 2014 Forecast
- VOD LN : Vodafone to Offer VDSL Internet Connections in Germany: FAZ
- VWS DC : Vestas Heads for First Cash Dividend in Decade After Turnaround