Oil slipped with gold and government bonds as demand for haven assets eased after Israel’s military action in Gaza proceeded more cautiously than had been anticipated. Brent crude dropped below $90 a barrel after rising by almost 3% on Friday, while WTI fell toward $84. S&P 500 futures contracts gained 0.3% after the gauge fell 0.5% on Friday, with risk appetite dented over worries including a persistently hawkish Federal Reserve and underwhelming corporate earnings. The dollar was little changed against major peers, while the 10-year Treasury yield rose more than three basis points. Gold slipped but remained above $2,000 an ounce, and Australian bond yields edged higher. Australian, Japanese and Hong Kong equities fell. Shares of China Evergrande Group slumped even as the world’s most indebted developer got more breathing room Monday when a Hong Kong court adjourned a winding-up hearing to Dec. 4. Judge Linda Chan in Hong Kong’s High Court on Monday said “this is really the last adjournment,” the latest in a series of delays since the proceedings began last year. Hong Kong’s Hang Seng index were down 0.28% in the morning as Chinese banks weighed. Bank of Communications dropped as much as 5.8% in Hong Kong after its third-quarter net income declined 3% year on year, while ICBC fell as much as 1% in Hong Kong as analysts saw its earnings results as mixed. Meanwhile China’s EV sector delivered some good news, with Great Wall Motor jumping 7.2% in Hong Kong after stronger-than-expected results. The Shanghai Composite Index and China’s CSI Index are both rising for a fifth day. HSBC Holdings Plc announced a further share buyback of as much as $3 billion following posting a pretax profit of $7.71 billion, falling short from analysts estimated. Middle Eastern markets that opened on Sunday showed little sign of panic a day after Israel sent troops and tanks into the northern Gaza Strip. Israel’s TA-35 stock index rose 1.3%, trimming its loss to 11% since the Hamas infiltration on Oct. 7. Instead of a massive ground invasion, the Israeli military has started slowly, taking a day-by-day approach based on casualties, concerns of the conflict spreading to Hezbollah in the north and internal political pressures on Prime Minister Benjamin Netanyahu. The global stock market has lost $12 trillion in value since the end of July as concern mounts that central banks’ “higher-for-longer” interest-rate policies may tip the global economy toward a recession. The VIX index, known as Wall Street’s fear gauge, has risen to above 21 from around 13 in mid-September, but remains below its mid-20s March highs when the collapse of several regional banks set off a market rout. The week includes a slew of potentially market-moving events, including central bank meetings in Japan, US and the UK. On Wednesday, the US Treasury Department will unveil its quarterly bond sales plan, an announcement that may determine whether the 10-year Treasury yields have the momentum to keep rising after surging to a 16-year high last week. The week will end with the US payroll report that may show job and wage growth slowed last month.
Nikkei -0.95% Hang Seng -0,25% CSI +0,72% Shanghai +0,22% Shenzen +1,47%
Eur$ 1.0560 CNH 7.3267 CNY 7.3179 JPY 149.54 GBP 1.2125 CHF 0.9028 RUB 94.3219 TRY 28.2403 WTI$ 84.34 -1.43% Gold 1,997 -0.45% BTC 34,320 -0.75% ETH 1,788 -0.56%
S&P +0,43% Nasdaq +0,63% EuroStoxx +0,15% FTSE +0,19% Dax +0,01% SMI +0.09%
Macro :
- Morgan Stanley’s Wilson Sees Year-End Stock Rally as Unlikely
- JPMorgan Says Israel’s Economy May Shrink 11% This Quarter
- JPMorgan’s Matejka Advises Shorting European Banks After Rally
- Goldman Says Souring US Growth Views May Create Stocks Bargains
- Goldman Says Souring US Growth Views May Create Stocks Bargains
- Lagarde’s Plan for Record-High ECB Rate Is a Test of Endurance
- US Job Growth Seen Cooling as Fed Looks to Pause Again: Eco Week
- Hedge Funds Pile Into Uranium Stocks Poised for ‘Dramatic’ Gains
- Pessimistic Tone in S&P 500 Earnings Is ‘Striking,’ RBC Says
Keep an eye on :
Keep an eye on :
- AAF LN : Airtel Africa 1H Net Loss Attributable to Holders $55M
- AKSO NO : Aker Solutions 3Q Revenue Meets Estimates
- AMS SW : AMS-Osram Signs €450m of Infrastructure-Related Asset Deals
- AAPL US : Warning Signs Grow Apple Is Losing Chinese Consumers to Huawei
- MT NA : 11 dead in fire at ArcelorMittal mine in Kazakhstan: local officials
- MT NA : Kazakh president orders "end to cooperation" with mining giant ArcelorMittal
- ASC LN : Asos Weighs Sale of Topshop as Part of Turnaround Plan: Sky
- ASC LN : Shein to Buy Missguided From Frasers Group; No Deal Terms: WWD
- BA US : Boeing Says It’s Assessing Data Dump Threat From Cyber Gang
- CO FP : Casino Says Court Procedure Entails Suspension of Obligations
- CLN SW : Clariant 3Q Adjusted Ebitda Beats Estimates
- CLN SW : Clariant to Buy Lucas Meyer Cosmetics for $810m
- DIS US : Disney Delays ‘Snow White,’ Takes Pixar Film Off Calendar
- DIS US : Peltz's Push for Disney Board Seats Boosted by Perlmutter's Shares -- WSJ
- EBS AV : Erste Boosts Revenue Guidance, Risk Provisions Exceed Est.
- 3333 HK : Evergrande Faces Make-or-Break Moment in Winding-Up Hearing
- F US : Ford Deal Includes $8 Billion in Plant Investments, UAW Says
- FRAS LN : Shein to Buy Missguided From Frasers Group; No Deal Terms: WWD
- HELN SW : Helvetia Gets Regulatory Approval for UK Branch
- HSBA LN : HSBC 3Q Pretax Profit Misses Estimates
- HSBA LN : HSBC Announces $3 Billion Share Buyback After Missing Estimates
- MB IM : Mediobanca Investors Back CEO Nagel Despite Del Vecchio’s Vote
- MEDX SW : Medmix Sees FY Adjusted Ebitda Margin 19% to 20%, Saw About 22%
- NOVN SW : Novartis Phase III Align Study Met Primary Endpoint
- ORSTED DC : As Wind Industry Struggles, Investors Brace for Orsted Losses
- SAF FP : Safran Sees Challenged Supply Chain; Could Slow Ramp-Up: React
- SFER IM : What story does the new Ferragamo tell us? - Miss Tweed
- SAN SM : *SANTANDER READIES SALE OF SOURED LOANS FOR UP TO €5B: CINCO
- SIE GY : Software Push Opens Door for Siemens Industrial Valuation Boost
- ENR GY : Siemens Energy Chairman Says ‘No Need’ for State Money: WamS
- ENR GY : Siemens Energy Chairman Says ‘No Need’ for State Money: WamS
- STLAM IM : UAW Aims to Announce Stellantis Deal Saturday as Talks Finish Up
- STLAM IM : Stellantis Workers in Canada Strike as Contract Talks Fail
- TEF SM : Virgin Media O2 Nears Stake Sale in Cornerstone to GLIL: Reuters
- TEF SM : *SPAIN, LOCAL INVESTORS MULL BUYING 5% OF TELEFONICA: EL CONFI
- TIPI FP : Tipiak Owners in Buyout Talks with Terrena (Oct. 27)
- TIT IM : Telecom Italia Investor Seeks to Oust CEO, Halt Sale of Network
- TIT IM : Confirms receipt of letter from shareholders Merlyn Advisor, RN Capital Partner - press - Telecom Italia does not confirm details of the letter, but reportedly Merlyn Advisor wants TI to terminate the sale of its landline business to KKR and wants CEO Labriola to be replaced
- UBSG SW : UBS Completes Sale of 51% Stake in UBS Hana Asset Management
- UNI SM : Unicaja 3Q Net Income Meets Estimates
- VIS SM : Viscofan 3Q Ebitda Misses Estimates
- VOD LN : Vodafone Said to Near Sale of Spanish Unit stake to Zegona