US MArket Closed Higher on Friday, Finishing October with a broad rally that sent the S&P 500 higher by 1.2%. The benchmark index extended its October advance to 2.3% and ended at a fresh record high, while the Nasdaq Composite (+1.4%) outperformed to end October with a 3.1% gain. volume were high, above 1bil shares for this last day of the month...A triple-header of China PMI releases remain indicative of a pullback in the world's 2nd biggest economy. China official manufacturing PMI released over the weekend slowed for the 3rd time to a new 5-month low, though it still remained above expansion threshold. Stats bureau economist added the "current economic growth is still showing some downward pressure", though he would not expect deterioration in the overall trend of PMI figures. Non-manufacturing PMI hit a 9-month low, falling for the 2nd straight month. Finally, the HSBC manufacturing PMI matched consensus and hit a 3-month high, but was also below the official print. HSBC economist said "manufacturing sector continued to stabilize in October, however the sequential momentum likely weakened."...Nikkei closed today...Hnag Seng -0.34%...Shanghai +0.09%
Eur$ 1.2488 S&P -0.02% EuroStoxx +0.06% DAX -0.03% FTSE +0.26% SMI+0.10%
Macro
- Euro Area Recovery Slower Than Expected, IMF's Vinals Tells ABC
- France to Mull Extending Airline Tax to Banks, Retailers: Echos
- HSBC China Oct. Manufacturing PMI 50.4; Est. 50.4
Keep an eye on :
- AIR FP : Rumors Air France could sell 100 planes to chinese firm for €10b
- ATC NA : Altice Makes Offer for Portuguese Assets of Portugal Telecom
- BMPS IM : KKR, Cerberus May Consider Investing in Monte Paschi: Messaggero
- BMPS IM : Paschi Board to Meet on ~EU1b Rights, Asset Sales: Repubblica
- BNP FP : CEO: French banks should only pay €10B of the €16B they are requested to pay to a proposed EU bailout fund
- AN FP : Canal Plus CEO Meheut Says African Market Is a Priorty
- CBK GY : Mentioned in the BArrons as an interesting Buy After passing easily the stress test
- CRG IM : Carige May Sell Creditis, Banca Ponti, Raise ~EU150m, Sole Says
- CPR IM : Campari May Sell Sella & Mosca, Zedda Piras Brands, Sole Say
- CSR LN : CSR targeted for stakebuilding by hedge funds amid speculation of counterbid
- DGE LN : Diageo, Jose Cuervo Near Agreement to Swap Liquor Brands: WSJ
- DUFN SW : Dufry 3Q Revenue, Ebitda Beat Estimates
- ENE SM : Endesa Board to Meet This Week on Stake Sale, Expansion Says
- HOLN VX : Holcim 3Q In Line, FY Consensus Still Likely Cut, Berenberg Says
- INGA NA : Mentioned in the BArrons as an interesting Buy After passing easily the stress test
- KPN NA : America Movil CFO Sells EU275,000 of KPN Shares, Filings Show
- MEO GY : Metro Says Held ‘Loose Talks’ With Karstadt on Acquisition
- NISSAN(7201) : To lower its FY14/15 China sales volume target to 1.22M (flat y/y) vehicles from 1.43M prior target due to slowing China market
- PNL NA : PostNL 3Q Rev EU988m, Est. EU886m
- PUB FP : Publicis Groupe to Buy Sapient in $3.7b All-Cash Transaction, offer $25/share, 44% premium vs Friday Close
- REP SM : Said to be accelerating acquisitions due to lower oil prices
- CFR VX : Richemont named as top pick to play emerghing mkt in cover story of the BArrons
- RYA LN : Ryanair Raises Full-Year Profit Forecast
- SIE GY : Siemens to Propose EQT as Hearing-Aids’ Buyer, Tagesspiegel Says
- SKYD GY : Sky Deutschland 1Q Ebitda Up 86%; Reiterates FY15 Outlook
- SMDR LN : Salamander Holder RS Investments Backs Ophir Offer: Sunday Times
- STAN LN : U.S. Said to Probe Standard Chartered Banking in Dubai: Reuters
- STAN LN : Aberdeen Asset Backs Standard Chartered Management: Sunday Times
- TSCO LN : Tesco explores part sale of banking subsidiary; hires Lepe Partners for blinkbox disposal - Sunday Telegraph