European and US equity futures rose, while Asian shares advanced amid a positive tone for risk taking, with a gauge of dollar strength near a nine-month low and hopes for a pause in interest rate hikes. Hong Kong-listed technology companies surged more than 3% after traders returned from Lunar New Year holidays, pushing a benchmark of Asian stocks toward the highest close since April. Japan’s Topix index erased earlier gains as the yen strengthened, leading the charge among Group-of-10 currencies against the dollar. Markets in Australia were closed for a national holiday, along with those in India, which have been rocked by US short seller Hindenburg Research LLC targeting Adani Group with accusations of manipulation and fraud. Mainland China markets remain closed. A number of dollar bonds issued by Adani Group declined further Thursday. Among the top losers were Adani Ports and Special Economic Zone’s 2024 notes, which posted the biggest single-day drop since April 2020. Gains posted this week in US-listed Chinese stocks and the S&P 500 added to the updraft for Hong Kong equities. Also supporting sentiment in Asia, holiday travel and box office data in China showed signs of recovery as people took advantage of Beijing’s pivot away from its Covid Zero policy. The dollar’s weakness accompanied speculation that the Federal Reserve may be getting closer to pausing its rate-hike cycle. The Bank of Canada, which led its global peers in raising rates rapidly last year, has now indicated it will hold steady.
Treasuries were little changed in Asian trading. An auction of five-year Treasury notes on Wednesday extended a winning streak, reflecting robust investor appetite for US government debt. In the US stock market overnight, earlier losses were mostly recovered, as attention shifted from Microsoft Corp.’s dire sales warning to Tesla Inc.’s earnings report after the closing bell. Elon Musk’s electric-vehicle giant whipsawed in late trading before gaining more than 5%. International Business Machines Corp. delivered an upbeat annual sales forecast while announcing it would eliminate about 1.5% of its global workforce, following similar job cuts by many of its tech peers. The S&P 500 is headed for the best January since 2019 driven by expectations that the Fed will moderate its rate hikes. The equity rebound came just as the economy is headed for a downturn — setting the stage for a selloff, JPMorgan Chase & Co.’s Marko Kolanovic told CNBC. The New York Stock Exchange said a manual error tied a backup system caused Tuesday’s wild price swings and trading halts for hundreds of company stocks. Japan’s benchmark 10-year government bond yields rose 2.5 basis points as they inch back toward the BOJ’s 0.5% ceiling. oil steadied as investors weighed the outlook for Chinese demand. Gold was little changed. US After Hours STX +7.6%, LEVI +6.2%, URI +4.5%, LVS +4.3%, TSLA +4.1% higher on earnings; TER -5.5%, NOW -3.6%, LRCX -3.1%, IBM -2% lower on earnings
Nikkei -0,12% Hang Seng +2,23% CSI +0,61% Shanghai +0,76% Shenzen +0,65%
Eur$ 1,0911 CNH 6,7500 CNY 6,7927 JPY 129,59 GBP 1,2394 CHF 0,9177 RUB 69,5186 TRY 18,8127 WTI$ 80,41 Gold 1,944 BTC 23,060 -2,33% ETH 1,610
S&P +0,25% Nasdaq +0,50% EuroStoxx +0,58% FTSE +0,32% Dax +0,55% SMI +0,38%
Macro :
- Biden Says US Will Send Tanks to Ukraine in Broad Allied Effort
- Adani's Stunning $100 Billion Wealth Boom Faces Biggest Risk Yet
- Netanyahu Says Legal Reform Will Strengthen Democracy, Economy
Keep an eye on :
- ARAMI FP : Aramis 1Q Adjusted Revenue EU439.3M Vs. EU396.5M Y/y
Keep an eye on :
- ARAMI FP : Aramis 1Q Adjusted Revenue EU439.3M Vs. EU396.5M Y/y
- ARCAD NA : Arcadis Prepares Rollout of Dutch National Hydrogen Network
- BUCN SW : Bucher FY Sales Beats Estimates
- CABKA NA : Cabka Names Frank Roerink Interim Chief Financial Officer
- CVX US : Chevron to Buy Back $75 Billion in Stock After Record Profits
- CSGN SW : Credit Suisse Dismisses Bankers in Mexico Amid Global Job Cuts
- DPW GY : Deutsche Post Workers to Strike Again Thursday, Union Says
- DGE LN : *DIAGEO 1H ORGANIC NET SALES +9.4%, EST. +8.12%
- DIC GY : DIC Asset Prelim 2022 FFO ~EU114.2M, Sees 2023 FFO EU90M-EU97M
- EDF FP : French nuclear energy giant EDF to join local market
- EDP PL : EDP Renovaveis Says Electricity Production Rose 10% in 2022
- ELIOR FP : Elior Group 1Q Revenue Misses Estimates
- ESSITYB SS : Essity FY Revenue Meets Estimates (1)
- FINGB SS : Fingerprint Cards 4Q Operating Loss SEK527.3M
- GET FP : Getlink FY Revenue Beats Estimates
- GRNG SS : Granges 4Q Adjusted Operating Profit Misses Estimates
- INTRUM SS : Intrum 4Q Revenue Beats Estimates
- LR FP : Legrand to Divest Russian Operations, Expects ~€150m Impairment
- LR FP : Legrand to Divest Russian Operations, Expects ~€150m Impairment
- LLOY LN : Lloyds Invests in App Helping London Bankers Avoid Traffic Fines
- MDM FP : Maisons du Monde 4Q Sales EU358M Vs. EU369M Y/y
- NOKIA FH : Nokia Beats Fourth-Quarter Estimates Amid ‘Robust’ Demand
- TIGO SS : Apollo and Marcelo Claure in talks over buyout of LatAm telco Millicom
- MS US : Morgan Stanley Fines Bankers Over Messaging Breaches: FT
- EGP PL : Mota-Engil Shares Jump as CaixaBank Sees ‘Strong Growth Ahead’
- OTOVO NO : Otovo Offering of 12.6m Shares Prices at NOK19.88/Share via DNB
- PGS NO : PGS 4Q Ebitda Beats Estimates
- PRX NA : Prosus to Cut 30% of Corporate Staff in Latest Tech Layoffs
- RANK LN : Rank Group 1H Net Gaming Revenue GBP338.9M Vs. GBP333.7M Y/y
- READ SS : Bonnier News Increases Offer Price to SEK14.40/Share for Readly
- RWE GY : Germany’s RWE Sees Windfall as Energy Crisis Stokes Profits
- SAB SM : Sabadell 4Q Net Income Beats Estimates
- SAP GY : SAP Will Explore Sale of its Controlling Stake in Qualtrics
- SRT GY : Sartorius FY Adjusted Ebitda Meets Estimates
- SEBA SS :
- SGSN SW : SGS FY Adjusted Operating Income Misses Estimates
- SHEL LN : Trinidad to Speed Up Gas Project with Shell After Waiver: PM
- SOI FP : SOITEC 3Q Like-for-Like Sales +25%
- SON PL : Sonae’s MC Unit Says 2022 Sales Rise 11.5% to €5.98b
- STM FP : STMicroelectronics 1Q Net Revenue Forecast Beats Estimates
- TELIA SS : Telia 4Q Adjusted Ebitda Meets Estimates
- TSLA US : Tesla 4Q Adj EPS $1.19, Est. $1.12
- TOD IM : Tod's FY Revenue Beats Estimates
- TTE FP : Reportedly Qatar said to be in talks to acquire stake in cluster of Iraq energy projects from, looking for a 30% stake
- TRYG DC : Tryg 4Q Profit After Tax Beats Estimates
- VOLVB SS : Volvo Fourth-Quarter Earnings Miss on Cost Pressure, Supply Woes
- WDI GY : EY Germany to axe hundreds of jobs in post-Wirecard cost-cutting push