Asian equity markets opened higher after stronger China PMI over the weekend and a RRR cut. China (closed all week), Hong Kong, India and South Korean markets closed for holidays so liquidity remained light. Indonesia stock market reached a fresh record high of 5,929. According to analysts today’s Japan Tankan survey could be a leading indicator signaling an improvement in earnings of Japanese companies, which will start reporting later this month. Over the weekend China’s PBOC cut reserve requirement ratio (RRR) for some banks that meet certain requirements for lending to small business and agricultural sector (1st cut since Feb 2016); affirms prudent and neutral monetary policy. Should be noted this is different from previous changes to RRR in that it was a delayed cut that will not go into effect until next year. China also released Sept Caixin PMI manufacturing remaining in expansion at 51, tracking in line with the official figure of 52.4 (14th month of expansion and highest level since 2012) released on Friday.
Nikkei +0.14% Hang Seng Closed CSI Closed Shanghai Closed
Eur$ 1.1766 CNH 6.6677 CNY 6.6528 JPY 112.86 GBP 1.3361 CHF 0.9705 RUB 57.69 WTI$ 51.55 -0.23%
S&P +0.13% EuroStoxx +0.34% FTSE +0.16% DAX +0.62 SMI +0.41%
Macro :
- May: EU Leaders Told Her Florence Speech Changed Brexit Talks
- U.S. Is Communicating With North Korea, Tillerson Says
- EU Has No Legal Right to Interfere With Nord Stream 2: Spiegel
- UK Power Reserve Sale Attracts China State-Owned Grids: Reuters
Keep An Eye on :
- ABBN VX : ABB May Reach Upper End of 2020 Profit Target, CEO Tells DI
- ADP FP : Aeroports de Paris Fails to Reach Deal With ACV, VIR Reports
- AF FP : Air France A380 Makes Emergency Landing After Engine Blows Apart
- AIG US : AIG Freed From Systemic-Risk Label Assigned After 2008 Crisis -->+2.3% in after hours
- AZA IM : Alitalia administrator does not rule out possibility of receiving offer for entire airline
- ALO FP : Alstom Wins Tel Aviv Light Rail Signal System Tender: TheMarker
- ALPH SW : Alpiq Hires Goldman Sachs for Sale of Non-Core Units, SZ Reports
- ATC NA : Disney, Altice USA Have Reached ’Agreement in Principle’
- AAPL US : Apple Raises Shipment Target for Series 3 Watch: DigiTimes
- AZN LN : AstraZeneca May Move Some Operations in Case of Hard Brexit: DN
- POP SM : Banco Popular Bad Loans Ratio Soared to 21.3% in June
- BB FP : BIC Cuts FY Net Sales Organic Growth Goal to Slightly Below 2%
- BKW SW : BKW CEO Says Canton Bern Should Reduce Stake: Le Matin Dimanche
- ACA FP : Credit Agricole Italy Unit Buys Three Local Lenders: Statement
- CRH LN : CRH Is Said to Near Acquisition of U.S. Cement Maker Suwannee
- CGG FP : CGG Reports Acceptance by Creditors of Chapter 11 Plan
- DAI GY : Daimler to Produce Mercedes Vehicles in France, Echos Says
- DBK GY : Deutsche Bank to Pay $190 Million to Resolve Forex Claims
- DRI GY : United Internet’s Dommermuth to Become Drillisch CEO Jan. 1
- EDP PL : EDP Says It Sees CMEC Final Adjustment Amount at EU256m
- IAG LN : IAG Is Said to Show Interest in Monarch’s Assets: Sky News
- HLE GY : Hella Can Spend EU1b on Acquisitions, Automobilwoche Reports
- MUV2 GY : Munich Re’s Ergo Probes Possible Fraud Case at Russia Subsidiary
- NAS NO : Norwegian Air CEO Says His Tenure Is in ‘Overtime’: Nettavisen
- NUM LN : Numis takeover speculation mounts as Anders Holch Povlsen hikes stake
- OBEL BB : Orange Belgium Buys Brussels Distribution Partners A3Com, A&S
- PRS SM : Prisa Calls Extraordinary Shareholder Meeting
- RNO FP : 7201.JP Suspended new auto registrations because domestic factories did not follow processes agreed with the Japanese Ministry of Land, Infrastructure and Transport; now fixed and registrations have resumed; -3.4%
- RSA LN : RSA, he says, would not be a good asset to buy now, ZURN CEO in FT - http://on.ft.com/2x7uiVX
- RTL BB : RTL’s CFO Heggen Sees Stable 2017 Dividend: Boersen-Zeitung
- SGO FP : Saint-Gobain Canceled 5M of Its Own Shares After Buyback
- SOLB BB : Solvay Outlook to Positive From Stable by Fitch on Deleveraging
- SEV FP : Suez, CDPQ Complete $3.4 Billion Acquisition of GE’s Water Unit
- TLX GY : Talanx Earnings Target Threatened by Catastrophes, Euro Reports, Talanx Doesn’t See Sustainable Price Turnaround: Handelsblatt
- TSCO LN : Tesco appears most at risk from Aldi / Lidl growth. (CS)
- UNA NA :ADM May Bid for Unilever Spreads Unit: Sunday Times
- VLK NA : Van Lanschot Kempen Spins Off Trading Platform Captin From Oct.1
- VWS DC : Vestas Wins Wind Turbine Orders in Argentina, Italy, Mexico
- VIV FP : Italy to Discuss Telecom Italia-Vivendi in Oct.: Calenda in Sole
- VONN SW : Vontobel Has Up to CHF600m for Swiss Acquisitions, NZZ Reports
- VOW3 GY : Volkswagen Stops Sale of Ducati Unit, Fiom Union Leader Says