Friday US markets on close: Dow +0.5%, S&P500 +0.3%, Nasdaq +0.3%
- Best Sector in S&P500: Financials / Worst Sector in S&P500: Healthcare
- Biggest gainers: SWKS +13.0%; CF +6.1%; QRVO +4.7% / Biggest losers: BMY -11.3%; TDG -9.9%; ENDP -4.3%
- At the close: VIX 11.5 (-1.2pts); Treasuries: 2-yr 1.18% (-1bps), 10-yr 2.47% (+1bps), 30-yr 3.05% (+1bps)
Asian indices open the week mixed and USD is under modest pressure; Analysts citing ongoing disappointment with Pres Trump's lack of detail on his economic objectives during the inaugural address and fear of the new US protectionism. Nikkei225 is the biggest decliner on Yen strength, with USD/JPY falling nearly 100pips below 113.50. Shanghai Composite is helped by Friday PBoC announcement of a temporary RRR cut for top 5 banks to support seasonal funding demands ahead of the Lunar New Year. Oil prices saw some early volatility with an upward thrust after comments from Saudi and Russian oil ministers that production cuts by OPEC and non-OPEC members are satisfactory and even ahead of schedule.
Japan PM Abe also reportedly working toward a formal meeting with the new US leader; The agenda is said to focus around affirming US commitment to protect disputed Senkaku islands against China aggressions, though the US transition team has also reportedly requested that Fin Min and vice Fin Min of Japan attend; Separately, a Nikkei report notes Japan's top pension fund GPIF is considering increasing investment in US high-yield govt bonds as it reduces holdings of JGBs.
Nikkei -1.29% Hang Seng -0.06% CSI +0.12% Shanghai +0.25%
Eur$ 1.0746 CNH 6.8217 CNY 6.8558 JPY 113.31 GBP 1.2435 CHF 0.9983 RUB 59.6191 WTI$ 53.05 -0.32%
S&P -0.31% EuroStoxx -0.52% FTSE -0.46% Dax -0.45% SMI -0.40%
Macro :
- Ukraine’s Poroshenko May Meet Trump After Mid-Feb.: Ukrinform
- Algeria Going Beyond Agreed OPEC Oil-Supply Cuts: Boutarfa
- A hot new hedge fund expects 'hundreds of billions of dollars' in tech deals (CSOD, AAPL, DIS)
- Hedge fund legend David Einhorn is making a big bet on GM (GM)
- Italy’s Gentiloni Sees Solution to EU Request on Budget: RAI
Keep an eye on :
- ABE SM : Abertis Is Poised to Buy Most of CDC’s Sanef Stake: Le Monde
- ATLN VX : Actelion Says Maestro Study Didn’t Meet Primary Objective
- ALV GY : Allianz, Intesa Sanpaolo Interested in Generali: La Stampa
- ATC NA : Altice Has Had Contacts With Canal+, Weill Tells Figaro
- APPL US : Foxconn Weighs $7 Billion U.S. Factory With Apple, Nikkei Says
- BAYN GY : Bayer Optimistic on Monsanto Deal, Tagesspiegel Says
- BCP PL : Sonangol Wants to Raise Stake in Banco Comercial, Expresso Says
- BRK/A US : Berkshire Makes 2nd German Acquisition: Handelsblatt
- BMW GY : BMW’s Works Council at Odds With Management on Startup: Spiegel
- BMPS IM : Paschi Management Met With Italy’s Padoan on Next Steps: Sole
- BMPS IM : Dombrovskis Urges Italy to Act Soon on Paschi, Budget: Stampa
- CA FP : Elior Chief Said to Be Shortlisted for Carrefour CEO: Challenges
- CPI LN : Capita lifted by rumours of interest from PE sector - FT
- CERV IM : Cerved Sees 2016 Ebitda Trend in Line With First 9 Months: Sole
- CGG FP : CGG Sold $58.6m Senior Notes Due 2021; Cuts Vessel Costs
- CBK GY : Commerzbank Wants 10k New Corporate Clients: Boersen-Zeitung
- ACA FP : Credit Agricole: Goodwill Impairment of EU491M Against LCL
- DBK GY : Deutsche Bank CFO Sees London Staying Europe’s Finance Hub: Welt
- DGE LN : United Spirits 3Q Profit Jumps Fourfold, Sales Climb 6.2%
- ELIOR FP : Elior Chief Said to Be Shortlisted for Carrefour CEO: Challenges
- G IM : Allianz, Intesa Sanpaolo Interested in Generali: La Stampa
- G IM : Assicurazioni Generali’s Minali to Step Down as CFO: Il Sole
- ISP IM : Allianz, Intesa Sanpaolo Interested in Generali: La Stampa
- BAER VX : Julius Baer Advisers Share Negative Rate Risk: SonntagsBlick
- LMCA US : Formula 1 Sale Said to Be Revamped; Ecclestone to Step Down: Sky
- LHA GY : Lufthansa on radar of Abu Dhabi sovereign wealth fund - German TV
- LLOY LN : Lloyds Says Retail Strategy Not Changed Because of Brexit: FT
- LONN VX : Lonza Chairman Soiron May Stand for Re-Election in April: SZ
- MS IM : Mediaset says has no interest in three-way shareholding partnership with Vivendi and Telecom Italia
- NESN VX : Nestle, General Mills, Others Said to Bid for Weetabix:Telegraph
- NOVN VX : Novartis CEO Jimenez May Step Down in 2 Years: SonntagsZeitung
- PWTN SW : Panalpina to Focus on Smaller Acquisitions, Higher Margins: FuW
- LIGHT NA : Philips Lighting 4Q Sales Below Estimates; Dividend EU1.10/Shr
- RR/ LN : U.K. Probes More Companies Based on Rolls-Royce Evidence: FT
- RHK GY : Rhoen-Klinikum Names Stephan Holzinger CEO
- SSABA SS : SSAB Is in No Rush to Sell Ruukki Construction, CEO Tells DI
- SKAB SS : Skanska CEO Says Nordic Region Is Doing Very Well, DI Reports
- SU FP : Schneider to Adapt U.K. Footprint to Post-Brexit Conditions: CEO
- SGSN VX : SGS FY Profit Falls 1.1% to CHF543m; Plans CHF250m Share Buyback
- SIE GY : Siemens CEO Says Trump May Be ‘Opportunity’ for Business: FAZ
- SKY LN : BT, Sky Set to Vie for Champions League TV Rights: Telegraph
- SNAP IPO : Snapchat Parent Said to Pay Banks 2.5% of IPO Proceeds: WSJ
- SNAP IPO : Snap Said to Stress Addicted Users to Justify $20b Value
- GLE FP : SocGen to Pay $50m to Settle U.S. Mortgage Claims
- TLG GY : TLG Immobilien Preliminary 2016 FFO Rises About 20% to EU77M
- TUI1 GY : TUI Sees Strong 2017 Demand for German Bookings: Rheinische
- DG FP : Vinci CEO Sees Growth in Contracting Business in 2017: Investir
- VIV FP : Altice Has Had Contacts With Canal+, Weill Tells Figaro
- VOD LN : Liberty Global Has Cash for Networks, Share Buybacks, FAZ Says