US Market closed lower, but not on the low od the day, S&P closed above its 50d MA...few geopolitical news put pressure on the market (Hong Kong, Calaunia, Technology outperformed, Energy -0,4% widening its sept. loss to 6,5% and q3 declined to 8%, consumer discretionary sector (-0.6%) lagged amid weakness in carmakers after Ford(F 15.11, -1.22) said it projects a pre-tax loss of $250 million for its European unit in 2015. The stock plunged 7.5%, while peer General Motors (GM 32.22, -0.95) lost 2.9%. Homebuilders also lagged despite lower Treasury yields, TIBCO Software (TIBX 23.65, +4.14) surged 21.2% after agreeing to be acquired by Vista Equity Partners for $24.00 per share, representing a 26.3% premium to the closing price on September 23. Separately, Athlon Energy (ATHL 58.32, +11.59) spiked 24.8% in reaction to news that Encana (ECA 21.59, +0.46) will acquire all of the issued and outstanding shares of ATHL for $58.50/share. Lastly,DreamWorks Animation (DWA 28.18, +5.82) jumped 26.0% amid speculation the company could be acquired by Softbank...volume were below average @ 620mil shares...VIX @ 15,98 +7,61%...Hong Kong is once again leading regional indices to the downside with few signs that the standoff between Occupy Central and the authorities will abate, China HSBC final manufacturing PMI dominated a rather active for economic data session. The final print declined from the 50.5 Flash print to 50.2 but remained in expansion for the 4th consecutive month. HSBC noted "companies continued to cut their staffing levels in September at a modest pace", and chief economist said "the data in September suggest that manufacturing activity continues to expand at a slow pace," reiterating the need for "more accommodative monetary as well as fiscal policies."... Japan August figures were generally mixed, with strong employment data (rising cash earnings and falling unemployment) but bigger than expected declines in industrial output and household spending... Nikkei -0.95% ...Hang Seng -1.37%...Shanghai +0.17%
Eur$ 1.2688 S&P +0.05% Eurostoxx +0.13% FTSE +0.02% Dax-0.06% SMI -0.03%
Macro
- Merkel Adviser Sees Low Rates for Prolonged Time: Handelsblatt
- Italy Govt Sees GDP -0.3% This Yr, Up 0.5% in 2015: Sole
- Japan Aug. Industrial Production Falls 1.5% M/m; Est. +0.2%
Keep an eye on :
- AUTO SECTOR : F -7,47% on investor day comments...watch European names...US Auto Sector (S5AUCO) -4,03%, testing Feb lows...50d MA crossing 200d MA...{S5AUCO Index GPC D<GO>}
- BANK SECTOR : S&P Lowers 88% of European Bank Hybrid Issue Ratings (Earlier)
- AIR FP : Airbus A350 to Get ESA Certification Today, Les Echos Says
- AKZA N: Akzo Will Close More Coatings Plants, Financieele Dagblad Says
- ALV GY : Pimco Total Return Cut From Gold by Morningstar on Gross Exit
- BON FP : Bonduelle Sees Another FY of Growth in Operating Profitability
- CBK GY : N.Y. Said to Target Some Commerzbank Employees: Hartford Courant
- CEZ PW : CEZ May Cut Staff by About 6% to Reduce Costs, CEO Tells Ihned
- CU FP : Bonomi Seeks Data from Club Med in Sign Bid is Active: Reuters {http://reut.rs/YKiN5m}
- GBF GY : Bilfinger Shrs Rise After Cevian Capital Raises Stake to 25.62%
- GLEN LN : Glencore Expects More Closures of Steelmaking Coal Mines to Come
- MOL AV : MOL Says Oil Shipments From Russia Are Secure: Reuters
- PRY IM : Prysmian CFO Sees No Addl. Costs on Western Link, Stable Div.
- SAN FP : Sanofi, Regeneron Say Dupilumab Met Endpoints in Phase 2a Study
- TIF US : Tiffany & Co: Lone Pine Capital discloses 5.3% passive stake
- TLSN SS : TeliaSonera Won’t Exit Eurasia Units, Svenska Dagbladet Reports
- VIV FP : Vivendi May Be Looking at Deal With Lions Gate: Reuters {http://reut.rs/1CBiWaD}
- ZALANDOIPO : Zalando Sets Issue Price at EU21.50/shr