US Market Closed lower after four days bounce, Five of six cyclical sectors ended behind the broader market with energy (-1.7%) showing the largest decline. The growth-sensitive sector displayed intraday strength, but slumped in the afternoon amid weakness in crude oil. The energy component spent the morning near its flat line, but plunged in the afternoon to end lower by 2.4% at $80.49/bbl. Greenback strength acted as a bit of a headwind with the Dollar back on the 1,2638, Industrials were pressured by BA -4,46% mid concerns about increasing production costs for its Dreamliner jet. Tech was still the OP (-0,6%), BRCM +5,5% on better numbers, AAPL +0,5%, GOOGL+0,9%. On the upside, countercyclical consumer staples (+0.1%) and utilities (+0.6%) displayed relative strength throughout the session. The utilities sector extended its October gain to 4.6%. Volume were in line with average @ 779mil shares, VIX @ 17,87 +11,13%...US After Hours SCSS +11.7%, TSCO +10.9%, ALB +2.3%, AIRM -19.8%, YELP -13.2%, WYY -8.1%, CLB -7.9% following earnings/guidance...In Asia,
The keenly awaited China Flash manufacturing PMI for October did not disappoint but also did not offer much to get excited about. Although the headline hit a 3-month high, remained above the expansion threshold, and also topped estimates, the Output index hit a 5-month low of 50.7 v 51.3 prior, Japan prelim manufacturing PMI painted a brighter picture with a 6-month high at a more than a point above consensus. Here, output component was also lower, but New Orders, Export backlog, and Employment all showed incremental progress. Markit economist did note that the political debate surrounding the next consumption tax increase over the next few months will be significant...Nikkei -0,3% Hang Seng -0,36% Shanghai -0,90%
Eur$ 1,2639 S&P +0,07% EuroStoxx -0,67% FTSE -0,56% DAX-0,60% SMI -0,39%Macro
- HSBC China Oct. Flash Manufacturing PMI 50.4; Est 50.2, outout index to 5month low 50,7 vs 51,3 prior
- JAPAN OCT PRELIM MARKIT/JMMA MANUFACTURING PMI: 52.8 V 51.7E (5th straight month of expansion, highest since March)- Output 52.3 v 53.4 prior
- EU May Tell France to Add EU6 Bln in Spending Cuts: Les Echos
Keep an eye on :
- AALB NA : Aalberts Says 3Q Result Up Y/y, Expects Further Progress in 2014
- ALV GY : Allianz May Shift Investments to Stocks, Boersen-Zeitung Says, has increased to 10%, could go higher
- ARL GY : Aareal May Lift Forecast on Strong Business, CFO Tells Handelsbl
- BAYN GY : Bayer Plastics Unit Attracts Interest From PE Cos.: Reuters
- BC8 GY : Bechtle 3Q Sales Rise 10.6%, Pretax Up 19%
- CEZ PW : CEZ Receives Safety Approval for New Nuclear Reactors at Temelin
- CRDA LN : Rumors that Solvay is studying a 2900p bid
- CSGN VX : Credit Suisse 3Q Net CHF1.03b; Est. CHF808.6m
- DAI GY : Daimler 3Q Profit, Rev. Beat Ests.; Reiterates FY Ebit Outlook, Raises 2014 Cash Flow Forecast
- DECB BB : Deceuninck 3Q Rev. Misses Ests. as German, French Markets Shrink
- DNB NO : DNB Net Beats est., Says Will Reach Capital Targets by Deadline
- DSY FP : Q3 Rev. E580 vs Est. E569
- FNAC FP : Groupe Fnac 3Q Rev. Up 2.2% to EU863m
- GTO NA : Gemalto 3Q Rev. EU626m vs Est. EU657m, CEO Says Apple Products Are Opportunity, Not Threat
- HUH1V FH : Huhtamaeki 3Q Sales Beat, Profit Misses Ests.; Keeps Forecast
- HURGZ TI : Dogan denies it is holding talks to sell Hurriyet
- IPR PL : Impresa 3Q Loss Narrows to EU384,743 vs EU586,313 Y/y
- KRN GY : Krones 3Q Sales Rise 11%; Says on Track to Achieve 2014 Targets
- LI FP :Klepierre Confirms Outlook for Full-Yr Net Current Cash Flow
- LOGN SW : Logitech Confirmed Outlook for 2015 About $2.16b in Sales, May ‘Materially Adjust’ Results After Audit
- LUX IM : Luxottica Said to Name P&G’s Mehboob-Khan Co-Chief Executive
- ML FP : Michelin 3Q Rev. Misses Est.; Volume Growth Outlook Cut, Cuts Capex Forecasts Through 2017
- MOR GY : Morphosys Sees Full-Yr Ebit Loss EU5m-EU8m
- NESN VX : Nestle CEO Says Frozen Food Lost Some Luster in U.S.
- NOK1V FH : Nokia 3Q Net Sales EU3.3 Billion vs Est. EU3 Billion, Net Income E474 vs est E212, Raises Low End of Margin Target as 3Q Adj. EPS Beats
- NOVN VX : Novartis Meets Primary Endpoint in Two Phase 3 Spine Studies
- ORA FP : Orange 3Q Sales Beat, Reaches 2014 Cost Cutting Target Early, CFO Says Cost Cutting Efforts to Continue in 4Q
- PTI PL : Portucel 3Q Net EU42.5m, down 15% Y/y
- PUB FP : Publicis 3Q Rev. In Line, CEO Says Doesn’t Meet Expectations
- RI FP : Pernod 1Q Organic Sales Beat Ests., FY Forecast Below Ests.
- ROG VX : Roche CEO Expects Basel Hiring, Says Outlook Is Good: Aargauer
- SAF FP : Safran 3Q Rev. EU3.59b vs Est. EU3.5b
- SBRY LN : +5,1% Yest. on more spec of Takeover, SBRY one of most FTSE 100 shorted stock, 28 per cent of its free float on loan to short sellers, up from 6 per cent at the start of the year.
- STMN SW : Straumann 3Q Rev. Misses Est.; Reiterates FY Forecast
- SUNE US : Solar Modules Extend Gain on China Demand; Polysilicon Unchanged
- TEL2B SS : Tele2 3Q Ebitda Beats Est.; Outlook Unchanged
- TNET BB : Telenet 3Q Ebitda Beats Ests. as Rev. Growth Quickens to 5.4%
- TIE1V FH : Tieto 3Q Sales Miss, Adjusted Ebit Beats Ests.; Keeps Outlook
- TSCO FP : Tesco Considers Replacing Chairman, Investors Say: FT
- TSCO LN : Tesco Half-Year Shortfall Slightly Higher Than GBP250m, Sky Says
- UCG IM : UniCredit in Exclusive Talks With Fortress for UCCMB, Sole Says
- UMI BB : Umicore Keeps Forecast for Adj. Ebit EU265-EU280m; Est. EU259.9m
- WCH GY : Wacker ChemTo raise prices for dispersible polymer powder in Europe
- WFT US : Weatherford 3Q Non-Gaap EPS $0.32 vs Est $0.33, -5,6% after hours
- WRT1V FH : Waertsilae 3Q Sales Miss, Ebit Beats Ests.; Orders Grow 21%