Dow +1.49% S&P +1.22% Nasdaq +1.15% Russell +1.40%
US Market closed higher helped by news China indicating China has loosened its lending requirements for purchases of second homes. In addition, Friday's dovish remarks from Fed Chair Janet Yellen, who said the Fed will move cautiously when raising rates, provided another measure of support. cyclical sectors had the best showing, but countercyclical groups held their own. Health care and telecom services ended at the bottom of the leaderboard, but both groups still gained close to 1.0% apiece...few new M&A deals announced were also a good support for the market...energy sector (+2.1%) ended in the lead even as crude oil spent the bulk of the day in negative territory. The energy component tested the $47.75/bbl level before settling lower by 0.5% at $48.65/bbl. WTI crude will enter tomorrow's session down 11.5% for the first quarter versus a 2.7% decline for the energy sector...volume were light with 660mil shares...US After Hours CLDN +3.7%, BAMM +3.6%, AUPH +2.9%, GV -22.8%, SMTX -5.5%, ARGS -2.8% following earnings/guidance... China property names are outperforming the broader market following an overnight announcement by the PBoC to ease mortgage policy rules. Sector names already staged broad gains in yesterday's session after local press reported the PBoC would cut second homes down-payment ratio to 50% from 70%. Instead, the PBoC went even further, lowering that floor to 40% to help the housing market recover after the latest property price data showed a record y/y rate of decline. China International Capital Corp (CICC) estimated the volume of new home sales as a result of the policy change could be boosted by as much as 5%. Separately in China, PBoC's regular open market operations saw an injection of CNY25B via 7-day reverse repos sold at 3.55%, unchanged from last rate of the prior week...Outside Asia, Greek PM Tsipras continued to straddle both sides of the fence between his left-wing constituency and the increasingly more impatient EU lenders. Appealing to the former, Tsipras reiterated Athens will not accept recessionary policies and austerity measures in his speech to Parliament. Tsipras added the negotiations have limits, and that the latest airports leasing deal still needs to be reviewed. In the US, Fed Vice Chair Fischer took some questions after an Atlanta address focused on financial regulations, noting the Fed did not design policy to boost USD and also reiterating a rate liftoff will likely happen this year.
Nikkei -0.51% Hang Seng +0.50% Shanghai +0.48%
RUB $56.9570 WTI $47.94 (-1.52%) EURCHF 1.0458 CHF 0.9698
EUR$ 1.0783 S&P -0.24% EuroStoxx -0.35% Dax -0.30% SMI -0.20%
Macro :
- Tsipras Says Greek Airports Concession Deal Needs to Be Reviewed
Keep an eye on :
- AIR FP : Airbus Decided Not to Deploy ‘Auto Avoid’ Technology: WSJ
- ANTO LN : Teck Resources Says It’s Not in Talks With Antofagasta
- ARYN VX : Aryzta in Exclusive Talks to Buy 49% Picard Stake for EU446.6m
- BWO GY : Buwog Raises Forecast
- GIL GY : DMG Mori Seiki Starts Addl Tender Period for Mori Seiki AG: Link
- FGR FP : Eiffage Gets EU120 Million Contract From RTE and Terna Rete
- EVE SW : Evolva Sees 2015 Revenue Rising at Least 30%
- GKP LN : Gulf Keystone Petroleum to Sell 85.9m New Shrs @ 32p/sh.
- HSBA LN : HSBC Slow to Make Fixed Sought by U.S., Monitor Said to Report
- ICAD FP : Icade Governance Criticized by French State Auditor: Les Echos
- KPN NA : Credit Suisse Adds KPN, Novavax to M&A 15 List
- LHA GY : Lufthansa Insurers Set Aside $300m for Crash: Handelsblatt
- MAERSKB DC : Maersk Eyes Buying North Sea Oil Fields, Chairman Tells Borsen
- NOVN VX : Novartis’s Jadenu Approved by FDA
- ORP FP : Orpea 2014 Net EU136m Vs EU117m
- PHIA NA : Philips Sells Lumileds, Automotive to Oak, GSR-Led Group
- CFR VX : Richemont to Merge Net-A-Porter With Yoox in All-Share Deal
- RSTA GY : Rib Software Sees 2015 Total Sales EU85m-EU95m
- SAS SS : SAS CEO Asks Pilots to Work Flexible Schedules: Berlingske
- SEBA SS : SEB to Start Charging Large Corporate Clients for Deposits: DI
- SLIGR NA : APG Asset Management’s Stake in Sligro Rises to 5.1%: Filing
- UL NA : Unibail, CCIR to Sell 50% of Comexposium to Charterhouse