ASIAN MARKETS – TRADING SLIGHTLY HIGHER on Monday. THE NIKKEI has traced lower with the dollar-yen steadying following its earlier spike. Japanese media reported the Abe government is considering LOWERING THE CORPORATE TAX RATE for certain companies (though this has been reported previously). JGBs are weaker with yields up 1.0-1.5 bp along the curve. THE HANG SENG has swung higher, while mainland equities are little changed. The PBoC drained a net CNY90bn after refraining from open market operations. Meanwhile, Chinese regulators unveiled guidelines on micro lending following a recent crackdown. Geopolitics remains a headline focus, though the latest war rhetoric from the US and Pyongyang was greeted with another shrug by markets. Elsewhere, miners are providing support for the ASX with IRON ORE FUTURES SURGING 6% in China. There was little reaction in the Aussie dollar to figures showing a higher-than-expected increase in business inventories.
Nikkei -0.49% Hang Seng +0.67% CSI +0.57% Shanghai -0.21% Shenzen -0.58%
Eur$ 1.1870 CNH 6.6174 CNH 6.6154 JPY 112.88 GBP 1.3457 CHF 0.9831 RUB 58.9145 WTI$ 57.99 -0.63%
S&P +0.56% EuroSToxx +1.16% FTSE +0.76% Dax +1.32% SMI +0.48%
Macro
- IFO Brexit Net Trade Costs at EU16B for U.K., EU44B for EU
- Merkel Seeks to Expedite Infrastructure Projects in Germany
- Spain to Start 5G Network Frequency Auctions, Expansion Reports
- Europe Chemicals Seen as ‘Super’ Sector at Deutsche Bank
- Intesa CEO Says Bitcoin Is ’Speculative Bubble’: TG5
- U.K.’s Clark Expects Agreement on Brexit Issues: Handelsblatt
- Swiss Banks Report Suspect Saudi Activity to Regulator, FT Says
Keep an eye on :
- ADS GY : Adidas CEO Wants Spending Caps for Soccer Clubs: Rheinische
- AET US : Aetna’s Board Is Said Set to Approve $68B Sale to CVS: Reuters
- AIR FP : Airbus Still Sees Record 2017 Deliveries, Bregier Tells Echos
- ALKB DC : ALK-Abello to Temporarily Suspend Dividend Amid New Strategy
- AAPL US : Three New IPhones to Drive 22% Unit Growth in 2018, Nomura Says
- ATC NA : Altice Starts Asset Sales With Swiss Data Centers Disposal
- BNP FP : BNP Paribas Chairman Says Europe Economy Has Entered ‘New Cycle’
- CRG IM : Intesa, Unipol, Generali to Take Part in Carige Cap Hike: Ansa
- DIS US : Disney Is Said to Have Re-Engaged in Talks for Fox Assets: WSJ
- EOAN GY : Germany Should Make CO2 Polluters Pay More: EON CEO to Spiegel
- FCA IM : Fiat in Talks With U.S. to Settle Diesel Case, Marchionne Says
- FCA IM : Marchionne in Talks With Hyundai on Partnership, Not Merger, Fiat To Push Ahead With Marelli, Comau Spinoffs: Marchionne, Alfa Romeo-Maserati Spinoff Not For Many Years: Marchionne
- GSK LN : GSK Is Said to Invest in U.K. Research Ahead of Brexit: FT
- HMB SS : H&M’s Structural Headwinds Lead Goldman to Cut to Sell
- ISAT LN : potential target for Echostar & Dish - FT
- LHA GY : Lufthansa Plans Extra Charge for Business-Seat Selection: WiWo
- LHN SW : Three Men Charged as Part of French Lafarge Syria Probe
- MRK GY : Nestle, Stada Are Said to Prepare Rival Bids for Merck Unit:Rtrs
- MUV2 GY : Munich Re to Increase Investment in Equities: Boersen-Zeitung
- NESN VX : Nestle, Stada Are Said to Prepare Rival Bids for Merck Unit:Rtrs
- NOKIA FH : Nokia Is Said to Stop Pursuing Juniper After Reports: CNBC
- OHL SM : OHL Calls EGM to Approve Sale of Concessions Unit to IFM
- PRY IM : Prysmian to Buy General Cable for $30 Per Share Cash
- PUB FP : Publicis Groupe’s Zenith Sees 2018 Global Ad Market Rise of 4.1%
- REP SM : Repsol Is Said to Weigh Sale of $4.4 Billion Gas Natural Stake
- RIO LN : Rio CFO Says Co. Winning Lot of Interest in Coking Coal Assets
- ROG VX : Roche Granted FDA Orphan Drug Status for Idasanutlin, Takeda Pharma Treatment Granted Orphan Drug Status by FDA
- RYA LN : Ryanair Bids for Landing Rights at Berlin Tegel Airport
- SAN FP : Sanofi Ends Development of Clostridium Difficile Vaccine
- FTI FP : Technip, Samsung, Tecnicas Get $4.2B Deal W/ Bahrein Petroleum
- TIT IM : Telecom Italia Board Is Said to Discuss Network Options: Reuters
- TEVA IT : Teva Rises With Mylan on Prospects For Own Herceptin Biosimilar
- TMG NA : De Mol Sells Entire TMG Stake To Largest Shareholder Mediahuis
- TRYG DC : Tryg Buys Alka for DKK8.2b
- VOD LN : Vodafone May Seek New Audit Firm to Replace PwC: Sky
- VOW3 GY : Detained VW Manager Says Company Told Him to Lie, Bild Reports
- VOW3 GY : VW Is Said in Talks to Buy Stake in Russia’s GAZ: Reuters
- WPP LN : WPP’s GroupM Sees Global Advertising Spending Up 4.3% in 2018