Dow +0.73% S&P +0.73% Nasdaq +0.60% Russell +0.73%
US Market closed higher bouncing from support tested yesterday on the 50d MA (2,333). financial sector (+1.4%) took the reigns in today's session, recouping a sizable portion of last Tuesday's plunge. The group has come to symbolize the post-election rally after leading the charge with a 26.0% gain from November 8 to January 3. Financials' cyclical peers followed suit with the industrials (+1.1%) materials (+1.1%), and energy (+1.3%) sectors outpacing the broader market. Energy tracked WTI that closed higher by 1.4% @ $48.37. Utilities underperformed. US After Hours RH +16%, VRNT +7% higher following earnings, VRTX +18% surges on Ph 3 data... PLAY -4%, SONC -1% following earnings/guidance. Asian equity markets are modestly higher, tracking more pronounced bullish sentiment that followed a swift turnaround from the initial losses of the prior session. Investors continue to shrug the political stumbles of the Trump administration and focusing on improving US economic data - particularly the 16-year high in Consumer Confidence. Financials did particularly well as interest rates rose across the curve, while Gold came in back below 1,250 after a recent run. GBP/USD fell 80pips from the highs to 1.2380 as PM May signed the letter invoking Article 50. Economic calendar was once again light, limited to lower than expected growth in Japan retail sales for Feb. Recall Japan consumption was flat in Q4, and it remains to be seen whether Capex growth can sustain the economy.
Nikkei -0.02% Hang Seng +0.13% CSI +0.32% Shanghai +0.21%
Eur$ 1.0812 CNH 6.8732 CNY 6.8913 JPY 111.12 GBP 1.2404 CHF 0.9922 RUB$57.0370 WTI$ 48.61 (+0.50%)
S&P +0.12% EuroStoxx +0.27% Dax +0.12% FTSE +0.30% SMI +0.43%
Macro :
- EU Warns Trump Against Weakening Privacy Pact: Handelsblatt
- Risks Skewed to the Upside for Europe Banks, Goldman Says
- Italy Bank Ests. Raised at Exane on Euribor; UBI, BAMI Favored
Keep an eye on :
- AKZA NA : Akzo Investors Holding Total 24.6% Stake Call For PPG Talks: FT
- AR4 GY : Aurelius Says Gotham’s Allegations Unfounded, Steps Up Buybacks
- BACA AV : Bank Austria Turns to Loss After CEE Spin-Off, Pension Deal
- BCVN SW : Vaudoise FY Non-Life Premiums Up 5.6%, Life Premiums Down 23.4%
- CTEC LN : Convatec Holders To Sell 19.95% Stake to Novo, Place 300m Shares upsized to 375m, shoudl price @ 260p
- DBK GY : Deutsche Bank Raised by S&P on Retroactive Change in German Law
- DBK GY : Deutsche Bank Said to Consider New Home Lending for Settlement
- EDF FP : EDF Says EU4B Share Sale is Successful, Oversubscribed
- EKTAB SS : Elekta Repays Convertible Bond, Enters New Financing Agreements
- ERSC FP : Eurosic FY Net More Than Doubles; Co. Confident About 2017
- GENL LN : Genel Said to Consider Two Candidates to Replace Chair Hayward
- GBT FP : Guerbet Sees ‘Slight’ Growth in 2017 Excluding Currencies
- HEI GY : HeidelbergCement, Schwenk Deal May Be Blocked, Reuters Says
- ISAT LN : Mentionned as potential M&A candidate by RBC - Echostar/Dish mentionned as perfect strategic sens
- LXS GY : Lanxess CEO Says TTIP May Save EUR10m-20m/Year in Duties: NZZ
- MMB FP : Lagardere Denies It’s Seeking Partner For Relay Stores
- MOURY BB : Moury Construct Sees Decline in 2017 Rev., Plans Stable Dividend
- NOVN VX : Novartis’s Zortress Patent Ending in 2020 Is Invalid, Judge Says
- NOVOB DC : Convatec Holders To Sell 19.95% Stake to Novo, Place 300m Shares
- ORP FP : Orpea FY Net Income EU257.6m; Forecasts Higher 2017 Revenue
- PLT IM : Lactalis Could Adopt Sell-Out Mechanism in Parmalat Offer
- RIO LN : Rio Tinto Says Sees Further Volatility in Iron Ore Markets
- ROG VX : Roche Multiple Sclerosis Drug Wins FDA Approval
- SAN FP : Regeneron, Sanofi’s Dupilumab Wins FDA Approval
- SIE GY : Siemens Awarded Max. $4.13b Radiology Pact by U.S. Defense Dept.
- SIK VX : Burkard Family’s SWH Proposes Lower Sika Dividend Than Board
- SOLB BB : Wadia Group to Buy Solvay’s 25% Stake in National Peroxide: ET
- SAZ GY : Stada Says 4Q Adjusted Ebitda Climbed 2% to EU97.4m
- TIT IM : Telecom Italia Doesn’t See Reclassifying Vivendi Relationship
- UCG IM : UniCredit Ambitious Restructuring Delivery Is Key, Citi Says
- VIV FP : Telecom Italia Doesn’t See Reclassifying Vivendi Relationship
- VOW3 GY : Volkswagen Asks Shareholders to Ratify Board, Management Actions