Dow+1,48% S&P+1,53% NAsdaq+1,78% Russell+2,07%
US Market closed much higher on ECB QE annoucement ($60bil/month till sept. 2016) EUR$ traded down to 1.1334. Crude was down during the session but bounce back after the news of the death of King Abdullah of Saudi Arabia. Tech, Financials, Industrials closed ahead of the broader market, cyclical sectors, defensively-oriented groups spent the day behind the market. Telecom services (-0.6%) and utilities (-0.4%) could not stay out of the red while consumer staples (+1.1%) and health care (+1.3%) ended in the green...Volume were in line with average with 871mil shares...US After Hours INFN +11.5%, MXIM +5.4%, SBUX +4.1%, KLAC -5.1%, AMID -4.2%, ISRG -2.6%, CE -1.6% following earnings/guidance...Upbeat sentiment permeating European and US markets in the wake of a more meaningful ECB QE announcement than anticipated has fed through to Asia, where China is leading the way.China flash HSBC manufacturing PMI portends a contraction for the 2nd straight month but just barely, coming in 3 ticks above consensus and 2 ticks away from the the expansion threshold. HSBC economist noted marginal improvement in domestic demand, but still saw labor market sufficiently weak, recommending further monetary easing. To that end, PBoC said it would maintain prudent monetary policy through timely fine-tuning only a day after its first reverse repo operation at lower offering yield in nearly a year. Separately, China Academy of Sciences forecasted 2015 GDP at 7.2%, down from 7.4% in 2014, even though trade surplus was expected to improve.In Japan, Jan manufacturing PMI continued on expansion track, edging expectations by a decimal point above 52 level. Markit economist noted improvement in operating conditions for Japanese manufacturers, with production and new orders remaining in robust growth territory...Crude Oil spiked up almost 3% to near $47.80 (BAck to $47 now) after confirmed death of Saudi Arabia's King Adbullah despite the well-articulated succession plan. Analysts noted that the rally could reflect some added uncertainty on output agenda, particularly if the Kingdom decides to embark on some public spending to help smooth over the transition.
Nikkei +1.05% Hang Seng +1.10% Shanghai +0.05%
RUB $63.30 RUB €71.70 WTI $47.02 Brent $49.37 CHF 0.8725 EURCHF 0.9893
Eur$ 1.1338 S&P -0.01% EuroStoxx +0.99% Dax +0.61% SMI +0.35%
Macro :
- HSBC China Jan. Flash Manufacturing PMI 49.8; Est. 49.5
- ECB QE’s Economic Impact Uncertain, EUR Weakness May Help: ING
- ECB QE Adds Yuan Depreciation Pressure Against USD: PBOC Pan
- Austria’s Nowotny Says Risks From ECB’s QE ‘Not Insignificant’
- PBOC Says ECB Bond Buying Program to Help China Exports: CCTV
- WTI Crude Futures Rise $1.33 to $47.64/B After Saudi King Dies
- S&P Acts on Five Oil Field Services Companies on Oil Price Drop (Petrofac, CGG, PGS, SDRL, Expro)
Keep an eye on :
- ACS SM : *GOLDMAN, BOAML TO PARTICIPATE IN EU2B ACS LOAN: CONFIDENCIAL
- ALV GY / CS FP : Moody’s Warn European QE Credit Negative For Insurers
- BP/ LN : BP CEO Dudley Says Oil Prices May Stay Low for 3 Years: BBC
- BSLN SW : Astellas/Basilea Drug Wins FDA Panel Backing: FierceBiotech (+5% pre-market)
- CGG FP : outlook negative, cut to B from B+
- CMB BB : Cie Maritime Belge Doesn’t See Sustainable Rates; 4Q Loss $13.9m
- DAE SW : Daetwyler FY Sales Drop 9.4% to Chf1.25b on Sale of Unit
- EDF FP : EDF Said to Weigh Options for $17 Billion Electricity Grid RTE
- GSK LN : Glaxo Ships First Ebola Vaccine to Liberia for Use in Trials
- GSZ FP : GDF Suez Delays Restart of Belgium’s Doel 3, Tihange 2 to July 1
- MC FP : LVMH’s PE Unit to Invest in China Outlet Malls Operator: WSJ
- MAU FP : Maurel & Prom 4Q Rev. EU112m
- NHH SM : UBS Says Placing 7.6% of Spain’s NH Hotel Group
- NOVOB DC : Novo Nordisk Gets Positive Opinion on Saxenda for Obesity
- PGS NO : Petroleum Geo-Services ASA outlook negative, CCR cut to B+ from BB-
- PIC BB : Picanol CEO Tack Buys EU732,825 of Weaving Machine Maker’s Stock
- PTC PL : Novo Banco May Vote In Favor of PT Portugal Sale, Diario Says
- PTC PL : Portugal Telecom Shareholders Approve Sale of PT Portugal
- PUB FP : Publicis CEO Says ECB Moves Don’t Fix Europe’s Underlying Issues
- ROG VX : Regeneron, Roche’s Genentech Working w/ Barda on Ebola Treatment
- SGO FP : Saint-Gobain Oberland Rules Out Div. for 2014 on Writedowns
- SIK VX : Sika Investor Jupiter Says Concerned About Proposed Stake Sale
- SMIN LN : Smiths Group shares on break-up chatter (+5% yesterday on that )
- HO FP : Thales Says DCNS Holding Will Cut EU100m From 2014 Group Ebit
- TEF SM : Hutchison Whampoa Rises Most in 2 Weeks After Talks to Buy O2
- TKA GY : ThyssenKrupp Has to Pay Late Penalty on Submarines: Handelsblatt
- TODS IM : Tod’s 2014 Sales Beat Ests., Confident on Positive 2015 Results
- UBSN VX : UBS Plans Supplementary Capital Return of CHF0.25 Per Share
- VRAP FP : Vranken-Pommery Monopole Says 2014 Revenue Rises 2.5%