US Market continue to trade higher, With all index ending in the green on friday...but volume was light @ 436mil shares on the NYSE (2nd lowest of 2014)...Nasdaq Outperformed helped by Biotech & large Cap (AAPL +1.77% GOOGL +0.85%)...Groupon (GRPN 8.14, +0.25) caught some attention, spiking 3.2% after Korea Times reported that Goldman Sachs may purchase Groupon-owned Ticket Monster...Crude futures were up as much as 1.0% overnight following reports of an attack on an oil storage tank at Libya's largest port. The strength was short-lived as oil reversed, and tumbled throughout the day to end lower by 2.0% at $54.65/bbl. The resulting weakness in the sector pressured major components like Chevron -0.2% and ExxonMobil -0.61%, which in turn, weighed on the Dow Jones Industrial Average (+0.1%). copper futures fell 1.5% to $2.812/lb into the neighborhood of early December lows while gold climbed 1.8% to $1.194.30/ozt...China financials are trading sharply higher after a PBoC report over the weekend confirmed the govt would be changing the rules on loan-to-deposit ratio calculations effective 2015 to inject further liquidity into the system. The new rules allow the inclusion of savings held by banks for non-deposit-taking financial institutions in banks' deposits, expanding the ratios and boosting lending capacity. In the energy sector, PetroChina was up 5% and other related names were bid higher after China Finance Ministry announced it would raise petroleum windfall tax threshold to $65/brl from Jan 1st...China industrial profits for November marked the most notable economic data point, falling by 4.2% - the largest y/y decline in 27 months. YTD, profit growth slowed to 5.3% from 6.7%, as coal mining sector profitability shrank 44% and Oil/Gas industry by 13%. Separately, comments attributed to China Commerce Minister Gao indicated 2015 foreign trade growth would slow to 6.0% from 7.5% official target in 2014. Ministry of Commerce also briefly published and then pulled a website report that 2014 trade growth would be just 3.5%, ensuring a miss on the official 7.5% GDP target... Japan govt confirmed it would offer a fiscal stimulus package in the amount of $29B (¥3.5T) - right in line with the magnitude speculated in local press last week... in Japan, local press speculated the govt will lower corporate tax rates by 3.3% over the next two years...In the euro zone, traders are bracing for Monday's 3rd round of Presidential polls in Greece after two failed votes this month...Nikkei -0.78% Hang Seng -1.65% Shanghai -0.93%
RUB $55.51 RUB €66.92 WTI $55.20 BRENT $59.83
Eur$ 1.2188 S&P +0.11% EuroStoxx +0.53% Dax +0.17% SMI +0.35%
Macro :
- Davidoff CEO Says Cigar Maker Plans Cuba Return: SonntagsZeitung
- Putin Signs Bill on 1t Ruble Russian Bank Recapitalization
- Uber To Continue Offering Services in Spain
- Greece faces crucial vote that could trigger election {http://reut.rs/1BjHxze}
- Lithuania Targets Balanced Budget in 2017, Sadzius Tells Echos
Keep an eye on :
- ACS SM : ACS Wins Contract to Modernize Mexico Electric Plant: Expansion
- AIR FP : Airbus: AirAsia’s Missing Plane Was Delivered to Airline in 2008
- ALV GY : Allianz Is Lead Reinsurer to Missing AirAsia Plane: Reuters
- CS FP : Axa Is Preparing to Enter Egypt in 2015, Les Echos Says
- CSGN VX : Credit Suisse Ordered to Face New York’s Mortgage-Fraud Claims
- ERICB SS : Foxconn Group May Team Up With Ericsson on 5G Tech: Comm. Times
- GLE FP : Societe Generale, ICBC Sign Memo on Cross-Border Yuan Business
- GSZ FP : GDF Suez Will Start Mirfa Construction in Feb., National Says
- LXS GY : Sees 2014 at lower end of forecast range, Will take two years for co. to “get back on track”
- LXS GY : Lanxess CEO Says in Early Talks on Alliances: Handelsblatt
- NOVN VX : Novartis Psoriasis Drug Cosentyx Gets Approval in Japan
- NOVOB DC : Novo Nordisk Searches for CEO Replacement, Berlingske Says
- NOVOB DC : Novo Nordisk Sees Sales More Than Doubling in 10 Yrs: Berlingske
- UG FP : France Won’t Impose Higher Tolls on Diesel Vehicles: Europe1
- PTC PL : Glass Lewis Recommends Vote for PT Portugal Sale: Document
- PRY IM : Prysmian 2014 Adjusted Net Seen 7% Higher, Il Sole Says
- ROG VX : Roche Gets FDA Emergency Authorization for LightMix Ebola Test
- SPM IM : Saipem Not Planning Capital Increase, Il Sole 24 Ore Says
- SBUX US : Coffee chains brew robust future in China - FT
- TSCO LN : Tesco’s Former CEO Clarke Sells a Third of His Stake: Times
- DG FP : France Won’t Impose Higher Tolls on Diesel Vehicles: Europe1
- VIV FP : Vivendi Ordered to Pay $50m to Resolve 2000 Merger: Reuters
- VOW3 GY : Audi Plans Investments of EU24b Through 2019