Weekend full of M&A activity, with confirmed deal for Time Warner from AT&T, which is already attracting regulatory scrutiny from US regulators and both presidential candidates. Rockwell Collins also buying B/E Aerospace and China Oceanwide acquiring Genworth. Japan economic datapoints both better than expected - trade surplus of ¥498B was above consensus ¥366BE. Exports fell -6.9% (12th consecutive decline), but smaller than expected -10.8%. Oil prices down slightly after Iraq Oil Min suggested Iraq should be exempt from OPEC production cuts because of its war with ISIS; Suggests Iraqi output in Sept was 4.7M bpd, may rise further from govt measures to welcome international oil field development. Recall last week, Iran also welcomed global energy names to help with post-sanction development of the sector. In the UK, PM May to meet with first ministers of Scotland, Wales and N Ireland on Monday as each side expects to request London's plans for Brexit. In Spain, opposition Socialist Party votes to stand aside and allow PM Rajoy to form a govt, ending 10-month political impasse after 2 inconclusive elections
Nikkei +0.18% Hang Seng +0.44% CSI +1.65% Shanghai +1.46%
Eur$ 1.0875 CNH 6.7797 CNY 6.7732 JPY 103.85 GBP 1.2211 CHF 0.9941 RUB 62.5768 WTI$ 50.62
S&P +0.15% EuroStoxx +0.26% FTSE +0.44% Dax +0.10% SMI +0.30%
Macro :
- London Can’t Be EU Finance Center Post-Brexit, Euronext CEO Says
- France, Japan May Split Nuclear-Reactor Research Cost: Mainichi
- SocGen Picks This VIX Trade to Hedge Heavy Dec. Macro Calendar
- S&P 500 Skew Unwind Shows Complacency Over Clinton Win: Analysis
- UK could slash corporation tax to 10 percent if EU blocks Brexit trade deal - Sunday Times
- Denmark Mulls Improved Tax Terms for N Sea Oil Producers: JP
Keep an eye on :
- ARL GY : Aareal Bank Seeks to Expand U.S. Business: Euro am Sonntag
- ABI BB : Altria Announces Increased Ownership of Anheuser-Busch InBev
- ABN NA : Nordea Chairman Says ABN Merger Would Have Led to a ‘Great Bank’
- AF FP : Air France to Present Plan, Detail Cuts Next Month: Figaro
- AF FP : KLM Cabin Crew to Strike 10 Minutes Ahead of Flights on Oct. 24
- CS FP : Axa in Talks to Sell Insurance Broker Bluefin to Marsh: Sky News
- AIXA GY : Aixtron Says Germany Withdraws Clearance of Grand Chip Offer
- BARC LN : Barclays’ divorce from African arm could cost up to £1bn - FT
- BEAV US : Rockwell Collins to Buy B/E Aerospace for $62/shr Stock, Cash
- BMPS IM : Soros, Paulson May Weigh Paschi Investment: Sole
- BMPS IM : Unipol may take stake in BMPS - Italian Press
- BMPS IM : Paschi Plan May Call for 10-11% ROE by 2019: Messaggero
- BMPS IM : Kuwait Soverign Fund May Weigh Investment in Paschi: Corriere
- BINCK NA : BinckBank 3Q Total Income, Profit Decline; NII Increases
- BN FP : Turnaround at Danone Could Boost Stock 25%, shift toward profitable, sustained growth and its acquisition of WhiteWave Foods could drive double-digit profit gains through 2019. Barron's
- DBK GY : Ruling exposes Deutsche’s US arm to fresh legal battle - FT
- ENGI FP : Engie Says no Decision Made Yet on Australia Charcoal Plant
- FCCN LN : French Connection Advised by Moelis on Approaches: Telegraph
- IFX GY : Infineon Not Planning Large Acquisitions, CFO Tells Boersen Z.
- INWI SS : Inwido 3Q Sales Below Ests.; Order Bookings Weaker Than Expected
- MC FP : LVMH CEO Says Russia Is Important Country for His Company
- MAERSKB DC : Iran in Talks With Maersk to Develop South Pars Oil: Zamaninia
- MRL SM : Merlin Aims to Issue Bonds for Metrovacesa Debt: Economista
- NOVN VX : Novartis Postpones Roche Shr Sale Until It Finds M&A Target: SZ
- PHIA NA : Philips 3Q Sales Slightly Below Estimates, Keeps 2016 Outlook
- PHIA NA : Philips in Talks Regarding Lumileds; Still Planning Deal in 2H
- ROG VX : Roche Gets FDA Approval for Fully Automated Blood-Screening Test
- ROG VX : Novartis Postpones Roche Shr Sale Until It Finds M&A Target: SZ
- SAMPO FH : Sampo Will Likely Sell Insurance Portfolio to Danske: Wahlroos
- SU FP : Schneider Electric plans to make acquisitions in India (acc. D.Orgaz D'Hollander) - Hindu Business Line
- LOCAL FP : Solocal Debtholder: Some Shareholders May Want Bankruptcy: Echos
- STAN LN : China Regulator Approves StanChart’s Rural Bank Stake Sale
- SUBC NO : Subsea 7 Drops Plan to Sell Seaway Heavy Lifting Shrs: Telegraaf
- TIT IM : Reuters - Egyptian investor, bondholders mull bid for Brazil's Oi -sources
- UNI IM : Unipol may take stake in BMPS - ITalian Press
- VOW3 GY : VW Owners Depart From Ferdinand Piech Management Style: Spiegel
- VOW3 GY : EU Unhappy With VW Compensation Plans for European Clients: Welt