Weekly Perf.
Dow+0.97% S&P+1.04% Nasdaq+0.45% Russell-0.77% Brazil+4.91% Nikkei-0.87% Hang Seng +0.95% Shanghai -2.03% EuroStoxx-0.80% FTSE+0.34% CAC-0.49% Dax-1.40% Ibex+0.88% MIB +0.26% SMI +0.11% WTI-0.35% GOLD -0.66%
Sentiment took a turn for the worse this week as the third quarter of 2015 drew to a close. Continued worries about commodity market fallout sent mining and trading conglomerate Glencore into a tailspin on Monday, getting the week off to a shaky start. Inauspicious August and September economic data did not improve the outlook: the US September payrolls report missed expectations, Chinese industrial profits fell the most in four years in August while official and private September manufacturing PMIs (49.8 and 47.2, respectively) remained in contraction. German September CPI flat-lined and August retail sales contracted. Early in the week equities indices tested the August 'flash crash' low, but buyers returned on Friday, shaking off the jobs report. The S&P500 ended the week up 1%. Funds flowed into government bonds, with the 10-year benchmark UST yield dropping below 2% for the first time since August. The IMF foreshadowed a downgrade to global growth (its annual outlook is published next week), calling its 3.3% 2015 GDP objective set in July as no longer realistic, while the Atlanta Fed cut its US Q3 GDP tracking forecast to +0.9% from +1.8% prior.
Macro :
- Netanyahu Says He Is Ready to Move on After Iran Nuclear Deal
- IMF Lowers Forecast for Ukraine’s 2015 GDP to -11%
- Dudley Says Work Needed on Tools to Avert Financial Crises
- Kocherlakota Says Low Inflation Warrants Further Fed Stimulus
Keep an eye on :
- AIR FP : Emirates Won’t Decide on A350 Vs Boeing 787 Order This Yr: Clark
- ALT NA : Funds Said in Talks to Buy Over $1 Billion Cablevision Stake
- AREVA FP : French PM Valls Says Open to Alliance on Nuclear: Asahi
- BKIA SM : Bankia’s Chairman Says It Should Eventually Be Privatized: Papel
- DGE LN : Diageo's Sterling Vineyards likely to interest Treasury Wine Estates, other brands likely to be avoided
- EDF FP : EDF May Seek to Sell Its Stake in Edison: Repubblica
- FRE GY : +ve article in the Barron's
- HAV FP : Havas Acquires Market Researcher CSA, Intervalles From Bollore
- HSBA LN : ICBC Said to Study Buying HSBC Argentina Operation: Perfil
- MRW LN : Morrison Scraps Price Matching Strategy, Financial Times Says
- PRU LN : U.K.’s Prudential May Move Headquarters to Asia: Sunday Times
- RR/ LN : Rolls-Royce to Cut 400 Mgmt Jobs in Marine Division, FT Says
- RYA LN : Ryanair’s O’Leary Aims to Cut Ticket Prices to EU25, Welt Says
- SAB LN : SABMiller key director may need to sit out AB InBev talks
- TECH FP : Technicolor ’17 Adj. Current Op. Profit to Remain Above EU500M
- VOW3 GY : VW Scandal Spreads to More Executives: Frankfurter Allgemeine
- VOW3 GY : VW’s Poetsch Said Company Threatened by Scandal, Welt Reports
- VOW3 GY : VW Engineers Admit Installing Cheating Software, Bild Says
- VOW3 GY : Volkswagen to Hold Extraordinary Board Meeting Weds.: Reuters