Dow +0.61% S&P +0.53% Nasdaq +0.24% Russell+0.75%
US Market closed higher helped by a leg up on oil on report of that OPEC reached aproduction cap agreement. Oil ticked lower following the EIA data, falling to the $44.50/bbl price level. energy component staged a reversal shortly after midday as Reuters reported that OPEC agreed to lower its production to 32.5 million barrels per day from approximately 33.2 million barrels. However, the reduction will not go into effect until OPEC meets on November 30. Nevertheless, WTI crude rallied into its pit close, finishing higher by 5.4% ($47.07/bbl; +$2.40). Eight sectors ended in the green with industrials (+0.7%), materials (+1.0%), and energy (+4.3%) leading the pack. Conversely, countercyclical health care (-0.1%), utilities (-0.3%), and telecom services (-1.0%) lagged. financials underperformed on yellen comments on cap.requirement. volume were slighlty above average with 903 mil shares. OPEC officials said to confirm a production cut, limiting output to 32.5-33M bpd range; Setting a committee to decide on level of cut for each member with final decision in November; Saudi Arabia's deteriorating fiscal conditions said to trigger the surprise concession. JPY sold off across the board on risk-appetite as worries over high-yield debt recede. China Commerce Ministry notes increasing downward pressure on trade.
Nikkei +1.65% Hang Seng +0.24% CSI +0.53% Shanghai +0.46%
Eur$ 1.1225 CNH 6.6826 CNY 6.6708 JPY 101.67 GBP 1.3017 CHF 0.9718 RUB 62.9825 WTI$ 47.17 (+0.26%)
S&P +0.16% EuroStoxx +1.21% FTSE +1.02% DAX +1.12% SMI +0.79%
Macro :
- OPEC Said to Agree on Oil Output Limit of 32.5m B/D in Algiers
- Fed's Evans says could raise rates if more fiscal policies to support growth were formed; sees some frothiness in asset valuations
- Spotify Said in Advanced Talks to Buy Soundcloud: FT - http://on.ft.com/2d8GTEq
- Fed’s Mester: Sometimes Being ‘Prudent’ Means Hiking Rates
Keep an eye on :
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- AB1 GY : Air Berlin to Restructure, Laying Off Up to 1,200 Employees
- ATLN VX : Actelion to Investigate All-Oral Combo Therapy for Relapsing MS
- AIR FP : U.S. Clears Boeing Fighter Jet Sales To Middle East
- AIR FP : Bombardier CEO: Current Profit Is Insufficient to Pay Down Debt
- BAYN GY : Bayer Says Safety Data on Xarelto Disclosed Properly
- BKIA SM : Spain Studies Merger of Nationalized Lenders Bankia, BMN
- CBK GY : Commerzbank to Cut About 10,000 Jobs: Bild
- COLR BB : Colruyt Doesn’t Rule Out Resuming Opportunistic Stock Buybacks
- CSGN VX : Credit Suisse, Barclays Said to Be in Mortgage-Settlement Talks
- DBK GY : Deutsche Bank Has No Reason to Sell Polish Unit: Niemycki in DGP
- ENEL IM : Enel Signs Accord to Sell Marcinelle Energie to Direct Energie
- ERICB SS : Ericsson’s Largest Owners Evaluating Ownership Options: SVD
- GPLG NA : Galapagos, MorphoSys Start Dosing MOR106 in Atopic Dermatitis
- GSK LN : Glaxo to Sell Its Remaining 6.2% Stake in Aspen Pharmacare
- INGA NA : ING Sells 46.7m Shares,Cuts Kotak Mahindra Bank Stake to 3.9%
- NOKIA FH : Sprint CFO Sees Network Spending Less Than $3b Target
- NYR BB : Nyrstar Sees EU3-5m Ebitda Impact From Port Pirie Smelter Outage
- OHL SM : OHL Buys Back EU23.3M of Principal of 2020 Bonds
- UG FP : PSA Plans to Sell First Fully Autonomous Vehicle in 2021: L’Obs
- PLUS LN : Plus500 Founders Selling 15.5m Shares in Placing
- SAN FP : Sanofi Faces Class Action in France From Depakine Users: Echos
- SU FP : Schneider Said to Hire JPMorgan to Explore Sale of DTN Service
- STL NO :Statoil Brazil Looking at Subsalt Polygon Opportunities: Reuters
- RIG US : Transocean Holder Icahn Cut Stake to 1.5% for Tax Purposes
- VOW3 GY : Volkswagen Annoints Mobility Services Unit as Group’s 13th Brand
- VOW3 GY : VW CEO Mueller Says He ‘Would Love’ a DOJ Settlement by End Year