Asian equity markets are trading mixed, tracking underwhelming US Friday session where PCE inflation data were in line with consensus, Chicago PMI numbers saw decent growth, but personal spending data missed expectations. Oil prices have remained supported above the $50/brl level, while US Treasuries were bid somewhat higher within their recent range. FX market volatility was also somewhat dulled by the start of a holiday break in China - USD majors saw little change with the exception of AUD/USD, which slid some 40pips from the highs toward $0.76 on the release of weaker than expected Retail Sales. Over the weekend, China March Caixin manufacturing PMI missed expectations at 51.2 V 51.7E. Caixin economists noted continued downward trend in employment, weakest new export sales this year, and further slowdown in the rate of input price inflation, even though the overall figure was in expansion territory for the 9th straight month. Also of note in China, BoC released its FY16 results that saw a miss on the bottom line, a 200bp drop in ROE and 30bp slide in NIMs. The bank warned domestic and international picture will remain "complicated this year" amid China's economic transition as its shares fell over 2% in Hong Kong.
Nikkei +0.81% Hang Seng +0.29% CSI +0.56% Shanghai +0.38%
Eur$ 1.0677 CNH 6.8745 CNY 6.8872 JPY 111.38 GBP 1.2547 CHF 1.001 RUB 56.25 WTI$ 50.53 -0.14%
S&P +0.03% EuroStoxx Dax SMI
Macro :
- U.K.’s Johnson Sees Difficult Talks Ahead for Brexit: Figaro
- Bond Traders Are No Fools, Dismissing Bluster of Four Rate Hikes
Keep an eye on :
- A2A IM : A2A Signs Partnership MOU With Local Italian Utilities
- AIR FP : Airbus Said to Continue Experiencing A320neo Engine Issues: Wiwo
- AAPL US : Apple Seeks to Sell HBO, Showtime, Starz in TV Bundle: Recode
- BAB LN : Babcock International Said to Win GBP340m U.K. Navy Order: Sky
- BALN VX : Baloise Starts New Buy-Back Program, Plans to Cancel 1.2m Shares
- BAYN GY : Bayer’s Copanlisib Meets Main Goal in Mid-Stage Lymphoma Study
- BIIB US : Biogen Rises 2% on Patent Win; Mizuho Sees $5 Upside to Stock
- BRE IM : Brembo Aims Doubling Revenue in China in Two Years, Sole Says
- BT/A LN : BT Group Said to Be Preparing Italian Unit for Sale: Telegraph
- BWO NO : Signed an extension agreement for the lease and operation of the FPSO Abo with Nigerian Agip Exploration Ltd, a subsidiary of ENI S.p.A., until 31 March 2018 with options until 2023.
- CSGN VX : Minder Tells Credit Suisse Shareholders to Vote Against Pay: T-A
- EDF FP : U.K. Airports, Nuclear Plants Told to Boost Security: S. Times
- ENRO SS : Eniro Hasn’t Reached Pact With Bank Syndicate
- ENX FP : Euronext, Intercontinental Sign Derivatives Clearing Pact, Euronext Says Remains Willing Buyer of LCH.Clearnet
- FCA IM : German Transport Ministry to Complain to EU Over Fiat: Reuters
- FCA IM : Fiat Chrysler Says 500X Conforms to Applicable Emissions Rules
- FCT IM : Fincantieri Seeking to Conclude STX France Deal This Week : JDD
- GALN VX : Galenica Reduces IPO Price Range to CHF37-CHF39, Boosts Offering
- DEC FP : JCDecaux Says It Has Lost Paris Velib Bicycle Contract
- LDO IM : Leonardo Sees Growing Defense Markets in Brazil, Peru, Argentina
- LIN GY : Linde bosses confident of merger with Praxair - FT
- MAU FP : Reports FY16 Net loss €50M v loss €95M y/y, Op €25M v loss €17M y/y, Rev €317M v €317M prelim
- NOVN VX : Novartis’s Tafinlar, Mekinist Drug Combination Gets EU Approval
- NOVOB DC : Novo Nordisk Chairman Sees Opportunities in Obesity Drugs: DI
- UG FP : French March Car Registrations Rise 7.0% to 226,145
- POM FP : Plastic Omnium Sells Seven Sites in Europe to Flex-N-Gate
- QIA GY : Qiagen Licenses Prostate Cancer Test From Johns Hopkins
- RB/ LN : Reckitt Benckiser Said to Plan Sale of Food Division: S. Times
- REC BB : Recticel Issues 250,266 New Shares After Exercise of Warrants
- RNO FP : French March Car Registrations Rise 7.0% to 226,145
- ROG VX : Roche’s Phase III ALUR Study on Alecensa Meets Primary Endpoint
- RSA LN : RSA Said to Drop Dublin From EU Base Shortlist: Sunday Times
- SAN SM : BofA Says to Short Santander Consumer USA on Subprime Car Loans
- SRT3 GY : Sartorius Raises Forecast, Completes Essen BioScience Takeover
- SU FP : Schneider Electric Said Close to $1b Sale of DTN: WSJ
- SNAP US : Snap Debuts a New Search Tool, in First Major Product Since IPO
- SCMN VX : Price War Threatens Network Investment, Swisscom CEO Tells SZ
- TSCO LN : Tesco Deal With Booker May Force It to Sell Stores: Telegraph
- VOW3 GY : VW’s Poetsch Says Internal Investig. to Last Beyond 2017: FAZ
- YARA NO : Yara CEO Sees Further Revenue Growth in China: Finansavisen