Dow -0.01% S&P -0.12% Nasdaq +0.58% Russell+0.17%
US Market closed mixed responding to a positive bottom-line reading from top-weighted Apple +6.5% and the latest policy statement from the Federal Open Market Committee, oil weakness was also a catalyst. Technology (+0.8%), telecom services (+0.7%), and health care (+0.4%) led the advance. On the flipside, consumer staples (-1.5%), utilities (-1.2%), and energy (-1.0%) rounded out the board. FB +1.8% ahead of earnings, stock is up 6.5% in after hours after better numbers. IBB +2.4%. Volume were below average with again less than 800mil shares traded today. US after hours GRPN +24%, CRUS +15%, MRVL +9%, FB +4.5% on earnings/guidance, ALR +21% recouping late subpoena-related losses... INFN -31.5%, RRTS -17.5%, TER -8%, WFM -5% on earnings/guidance. Asian equity markets are mixed, tracking a similarly divided session on Wall St confounded by the balanced FOMC policy statement. On the one hand, the Fed acknowledged the strengthening labor market and deemed the near-term risks to the economic outlook as diminished, but on the other, it maintained that inflation measures remain low and expectations for pickup are little changed. The focus now falls on the BOJ and its high-profile plicy decision in tomorrow's session. Expectations are high that Gov Kuroda will deliver with more easing, either with expanded asset purchases, deeper cut in interest rates, or both...the degree of uncertainty is high. In China, PBOC has continued to fix the Yuan midpoint firmer for the 3rd day. China's bloated credit was also in the spotlight, as CBRC called for banks to maintain sufficient liquidity against rising NPLs and Fitch warned again that the leverage growth has contributed to financial imbalances. Samsung Electronics also delivered a final Q2 results that was fairly in line with expectations.
Nikkei -1.02% Hang Seng -0.32% CSI -0.12% Shanghai -0.24%
Eur$ 1.1069 CNH 6.6682 CNY 6.6623 JPY 104.82 GBP 1.3180 CHF 0.9858 RUB 65.9573 WTI $ 42.05 +0.31%
S&P +0.19% EuroStoxx -0.10% Dax-0.10% SMI+0.02%
Macro :
- Fed Fund Futures Fully Price Next Rate Hike Around 2H 2017
- FOMC Sees Strengthening Labor Mkt, Diminished Near-Term Risks
- Fed Says ‘Near-Term Risks’ To Economic Outlook Have Diminished
- Banks’ Liquidity Situation More Than Sufficient: Dombret to WiWo
Keep an eye on :
- AALB NA : Aalberts Industries 1H Net Income Beats Analysts’ Estimates
- AC FP : Accor 1H Rev. In Line, Ebit Misses, CFO: There Is Uncertainty Due to Brexit, Terror, Turkey
- ACX SM : Acerinox 1H Net EU8.68m vs EU63.9m Y/y
- ATE FP : Alten 1H Intl Sales Rise 22%; Sees Positive FY Organic Growth
- ALT FP : Altran CFO ’Reasonably Confident’ For 2H, Brexit Not A Worry
- STS IM : Ansaldo STS Cuts 2016 Return on Sales View; Reiterates Rev. View
- BAYN GY : Bayer, Merck Rejected By Top U.S. Court on Generic Birth-Control
- BBVA SM : BBVA to Reach EU200m Savings Goal in 2017 With Faster Closings
- BESI NA : Besi Forecasts 3Q Revenue Will Fall 15-20% From Previous Quarter
- BNP FP : BNP 2Q Net Beats Estimate, Fully Loaded CET1 Ratio 11.1%
- BVI FP : Bureau Veritas 1H Adj. Net EU194M; Sees FY Rev. At Goal Low End
- CA FP : Carrefour 1H Recurring Operating Income Beats Ests.
- CLN VX : Clariant 2Q Ebitda Ex-Items In Line; Confirms 2016, M/T Targets
- CNP FP : CNP Assurances 1H Net EU620m; CEO Confirms Strategic Goals Right
- COL SM : Colonial 1H Net Rises 13% to EU230 Million
- CSGN VX : Credit Suisse 2Q Net Revenue Declines; GM Revenue Drops
- BN FP : Danone 2Q LFL Sales, 1H Profit Beats; Confirms 2016 Forecast
- DB1 GY : Deutsche Boerse Says 2Q Ebit Rises, Confirms FY Profit Forecast
- DLG GY : Dialog Semi 2Q Underlying EPS Beats Estimates After Outlook Cut
- GIL GY : DMG Mori 2Q Order Intake Falls 8%, Confirms 2016 Forecast
- DRW3 GY : Draegerwerk Says 1H Sales Fall Led by Africa, Asia, Australia
- ELE SM : Endesa 1H Ebitda EU1.87B vs EU1.93b Year Earlier
- ERA FP : France Says It’ll Own 25.66% of Eramet After Operation
- RF FP : Eurazeo 1H Net Falls, NAV Increases From Dec. Level
- EKT SM : Euskaltel 1H Net EU30.2M, Reverses EU18.4M Loss a Year Ago
- FWB IM : Swisscom’s Fastweb Unit Said to Sell Metroweb Stake for EU80m
- FCC SM : Melia Hotels to Replace FCC in IBEX 35 Index
- GAM SM : Gamesa Raises 2016 Ebit Guidance to at Least EU430m
- G1A GY : GEA Group 2Q Sales Miss Estimate; Sticks to Outlook
- GLJ GY : Grenke 1H Net Interest Income Up; Raises FY Profit Forecast
- HOT GY : Hochtief 1H Order Intake EU13.2b vs EU11.9b, Hochtief 2Q Figures Strong, Provide Confidence on FY: DZ Bk
- IPR PL : Impresa 1H Net Profit Rises to EU1.2m vs EU0.67m Y/y
- NK FP : Imerys 1H Net Income Rises After Acquisitions Boost Revenue
- IIA AV : Immofinanz FY Net Loss EU390.4m on Russia Writedown, CA Immo Approves Transfer of Registered Shares
- DEC FP : JCDecaux 1H Rev. Matches Est; Says Strong Performance Across Co.
- JMT PL : Jeronimo Martins 2Q Net EU95m vs Est. EU90.2m, Nears to Sell Monterroio to Soc. F. Manuel dos Santos
- KLM NA : KLM Condemns Union Actions, Says They Are Bad for Cargo Clients
- LIN GY : Linde 2Q Operating Profit Slightly Beats; Confirms 2016 Outlook
- MAU FP : Maurel & Prom 1H Revenue EU142m Falls Y/y; Output Rises by 43%
- MS IM : Mediaset Espana 1H Net EU117.7m vs EU97.8m Year Earlier
- MS IM : Reportedly Mediaset board to tell CEO to push for Vivendi to honor its withdrawn offer for Pay-TV unit
- MERY FP : Mercialys 1H FFO Rises, Keeps 2016 Forecast
- MONC IM : Moncler 1H Rev. Beats Ests., Adj. Ebit In Line
- NEX FP : Nexans Swings to 1H Profit, Sees ‘Unsettled’ Environment in 2H
- ONTEX BB : Ontex 2Q Rev., Adj. Ebitda Beat Est.; Sees 2H LFL Rev. Up 4%-6%
- REE SM : Red Electrica 1H Ebitda EU754.4M in Line With EU752.7M Est.
- RNO FP : Renault 1H Profit Beats Estimate; Forecast Confirmed, Renault Cuts CEO Ghosn’s Variable Compensation
- SAB LN : SABMILLER STREET WRAP: News Not a Sign of Recommended Change
- SPM IM : Saipem 2Q Ebitda Beats Ests.; Lowers 2016 Profit, Debt Guidance
- SAN FP : Sanofi Gets FDA Approval of Adlyxin for Type 2 Diabetes
- SU FP : Schneider Electric Upgrades FY Adjusted Ebita Margin Target
- SFR FP : SFR Plans to Cut 5,000 Jobs by 2019, Les Echos Says
- WAF GY : Siltronic Posts 2Q Profit as Sales Decline; Adjusts Outlook
- SOP FP : Sopra Steria 1H Organic Growth 5.4%; Confirms 2016, 2017 Targets
- SEV FP : Suez Confirms FY Targets Even After Says Ground Lost in 1H
- TTK GY : Takkt 2Q Ebitda Up 39%, Confirms 2016 Outlook
- TEC FP : Technip 2Q Net Income Misses, Ebitda Beats Ests.; Raises FY View
- TEC FP : RusTechnip Gets Russia Service Contract Worth EU50m-EU100m
- TCH FP : Technicolor 1H Revenue Up, Posts Net Loss; Confirms 2016 Goals
- TEF SM : Telefonica 2Q Oibda EU3.92B; Est. EU3.9B
- TNET BB : Telenet 2Q Rev., Adj. Ebitda, Free Cash Flow Beat Ests.
- TEVA IT : Teva Gets FTC Approval for Allergan Generics Deal
- TOM2 NA : *GARMIN RAISED TO NEUTRAL AT JPMORGAN
- UCB BB : UCB 1H Adj. Ebitda EU549m; Est. EU516m; Keeps Full-Year Outlook
- UCG IM : UniCredit Asks Authorities to Assess if Market Abuse in Shares
- UCG IM : UniCredit CEO Sees Nothing Special From Stress Tests: Corriere
- VIE FP : Veolia in EU3.3b Contract With Sinopec to Set Up JV: Echos
- WCH GY : Wacker Chemie 2Q Sales Slightly Misses; Specifies 2016 Forecast
- WIN GY : Wincor Nixdorf 3Q Rev. Beats Ests; Sees FY Sales Growth of 6%
- WDI GY : Wirecard Board Boosts 2Q Rev By a Third to EU240.2M VS 2015
- YTY1V FH : YIT Narrows 2016 Revenue Outlook; 2Q Operating Profit a Miss