Asian stocks and U.S. futures erased earlier losses Monday as Chinese shares built on a Friday rally after calls for calm from the country’s top finance officials. The dollar and Treasuries dipped.
The Shanghai Composite Index surged more than 4 percent, on track for its biggest gain since March 2016, buoyed by verbal support from authorities and plans to cut personal income taxes to support an economy showing strains from the trade war. Speculation of intervention from China’s “National Team” of state-backed funds together with comments from the heads of the central bank, banking and insurance regulator, and securities regulator lifted stocks Friday from a four-year low. Chinese President Xi Jinping also vowed “unwavering” support for the country’s private sector. Stocks advanced in Hong Kong and reversed losses in Japan and South Korea. The yen erased gains.
Nikkei +0.41% Hang Seng +2.21% CSI +4.53% Shanghai +4.24% Shenzen +4.88%
Eur$ 1.1534 CNH 6.9307 CNY 6.9309 JPY 112.69 GBP 1.3080 CHF 0.9960 RUB 65.5465 TRY 5.6362 WTI$ 69.34 +0.32%
S&P +0.32% EuroStoxx +0.72% FTSE +0.12% Dax +0.75% SMI +0.58%
Italy 10Y : 3.35%
Macro :
- Italian Populists Struggle to Stay United as Pressures Mount
- Goldman Says Stocks Likely Turning Into Drag on U.S. Growth
- Value-Growth Gap Signals Lower Returns Ahead, JPMorgan AM Says
Keep an eye on :
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- MT NA : Essar Steel Lenders Declare ArcelorMittal Highest Bidder: CNBC
- AZN LN : AstraZeneca gets cancer trial boost for Lynparza drug - FT
- BARC LN : U.K. Prosecutors Seek to Reinstate Barclays-Qatar Fraud Charges
- BA/ LN : New BAE Saudi Deals Unlikely Amid Khashoggi Fallout, Citi Says
- GBF GY : Bilfinger Sees U.S. Bribery Case Closing by End of Year: FAS
- BINCK NA : BinckBank Third Quarter Net Interest Income EU8.02 Mln
- BP/ LN : Aker BP Leads Rebound as Revenue Beats Estimates: EU Energy Wrap
- CO FP : Rallye Receives Equistone Offer for Go Sport’s Courir
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- DESN SW : Dottikon Warns of ‘Considerably’ Lower 1H Net Sales, Net Income
- ERG IM : ERG Gives Workers EU1.1M in Shares to Celebrate 80th Anniversary
- ERG IM : *ERG TO INVEST IN WIND POWER, GROW ABROAD INCL. IN U.K.: STAMPA
- EKT SM : Euskaltel says Zegona bid confirms strength of corporate project, Zegona wants to raise its stake to just below 30%
- FCA IM ; Fiat Agrees to Sell Parts Unit Marelli to KKR’s Calsonic Kansei
- GALP PL : Dos Santos May Be Willing to Sell Indirect Galp Stake: Expresso
- GEN DC : Genmab Reports Positive Cassiopeia Study in Multiple Myeloma
- HAW GY : Hawesko Adjusts View on Subsidiary Fraud Case, ’Long Hot Summer’
- HEN3 GY : Henkel Loses Out to P&G in U.S. on Broad-Based Issues: Bernstein
- INTU LN : Intu Properties likely to report slight fall in NAV this week - report
- JPR LN : Johnston Press Activist Buys Shares to Block Some Resolutions
- LIN GY : Linde Hires Deutsche to Sell 1t Won Assets in S. Korea: Daily
- MRK GY : Pfizer, Merck KGaA’s Bavencio Hits First Target in Kidney Cancer
- MOR GY : Morphosys Sees MOR208 Gaining FDA Approval by Mid 2020: Welt
- MULTI NO : Multiconsult Warns on Profit Due to Link, International Losses
- NANO FP : Nanobiotix’s NBTXR3 Phase 2/3 Meets Primary, Secondary Endpoints
- NOR NO : Noreco, Shell Agree on Fixed Price Deal for Offtake Until 2020
- NOVN SW : Novartis’s Alpelisib Improved PFS in Phase 3 Study
- UG FP : French Carmakers Consider Trade-in Incentive, Les Echos Says
- PHIA NA : Philips Third Quarter Adjusted Ebita 2.7% Below Estimates
- PHIA NA : Philips Starts Share Buyback of Up to EU174m to Cover Stock Plan
- PDL LN : Petra Diamonds First Quarter Revenue $80.2 Mln
- PIRC IM : Camfin Board Resolves to Increase Pirelli Stake by up to 2%
- PSM GY : ProSieben Estimates Cut, PT to Street-Low at Morgan Stanley
- RAL FP : Rallye Receives Equistone Offer for Go Sport’s Courir
- RNO FP : French Carmakers Consider Trade-in Incentive, Les Echos Says
- RDSA LN : Egypt Says Output Starts From First Well in Shell’s 9B Gas Field
- ROG SW : Roche’s Tecentriq Improves OS in Some Breast Cancer Patients
- RYA LN : Ryanair Profit Drops in First-Half For First Time in Five Years
- SAL IM : Salini Gets EU90m Contract for Urban Project in Switzerland
- SAN FP : Regeneron, Sanofi: FDA Approves Asthma Indication for Dupixent
- STAN LN : Standard Chartered Plans New Round of Job Cuts: FT
- SREN SW : Swiss Re possibly interested in Anbang Insurance stake, acquisition of Vivat - Telegraaf
- TEP FP : Teleperformance Best In Class, Valuation Rich: Morgan Stanley
- UBSG SW : FCA’s Megan Butler Steps Into UBS Rape Probe: Financial News
- UCG IM : B&C Rejects ‘Hostile Takeover’ Attempt After UniCredit Report
- VIE FP : Veolia to Operate Australia’s First Waste-to-Energy Facility