US Market LCosed higher for the Dow but Lower for the S&P, European Commission lowered its GDP forecasts for the region, also a report from Reuters has revealed a potential power struggle at the European Central Bank. According to the report, ECB board members have been unhappy with President Mario Draghi effectively making some policy decisions on his own. Furthermore, the report claimed that up to ten out of 24 ECB members are not in favor of a sovereign QE program...weakness in energy kept the market under pressure while other cyclical groups were mixed. Financials (+0.1%), industrials (+0.1%), and technology (unch) displayed relative strength while consumer discretionary (-1.3%) and materials (-1.0%) lagged. ..Volume were above average @ 810mil sh....VIX @ 14.89 +1.09%...After Hours JIVE +21.4%, MPO +21.1%, COUP +20.4%, FEYE -20.4%, ZAGG -18.4%, ZU -15.7%, TRIP -11.9% following earnings/guidance...Republican party scored a resounding victory in the race to control the US senate, as GOP candidates avoided setbacks in all of the key battleground states. China HSBC Services and Hong Kong Manufacturing rounded out the regional PMI announcement period, with more disappointing prints out of the Far East. Chinamservices PMI hit a 3-month low, as HSBC economist said further easing measures in the coming months are justifiable to help offset the downward pressures on the economy. Out of Hong Kong, a 3rd month of contraction to the lowest level...BOJ Gov Kuroda spoke in Tokyo, largely reiterating sentiment from the most recent policy statement / press conference. Kuroda said easing would continue
until inflation target was stable, QQE is having its desired effects, household spending would gradually pick up, and capex would also recover. Note earlier Nikkei report citing Japan Center for Economic Research (JCER) saw Sept GDP falling 0.3% m/m - the first decline in 5 months - accentuated by a 0.8% drop in housing investment...Nikkei +0.44% Hang Seng-0.59% ...Shanghai -0.28%
Eur$ 1.2532 S&P +0.40% EuroStoxx +1.07% FTSE +0.68% DAX +0.96% SMI +0.66%
Macro
- HSBC China Oct. Services PMI 52.9 vs 53.5 in Sept.
- Markit/JMMA Japan Oct. Composite PMI 49.5 vs 52.8 in Sept.
Keep an eye on :
- ALO FP : Macron Authorizes General Electric Investment in Alstom
- ALO FP : Alstom 1H Orders Double; Sales Growth Above 5% in Medium Term, Operating Margin to Improve Within 5%-7% Range
- BMPS IM : Paschi Said Close to Underwriting for EU2.5 Billion Share Sale
- BMPS IM : Banca Monte Paschi Said to Win $3.1B Capital Commitments: WSJ
- BNR GY : Brenntag 3Q Operating Ebitda In Line; Confirms 2014 Forecast
- CNP FP : CNP Assurances Posted 9-Month Net Income of EU842 Million
- CNP FP : Groupama Is Studying CNP Scenarios, Les Echos Says
- CRTO US : Criteo Raises 2014 Targets for Adj. Ebitda, Rev.
- DEC FP : JCDecaux CFO Debroux to Resign, to Be Replaced by Bourg
- DIA SM : DIA to Buy Up to 160 Supermarkets Under Eroski, Caprabo Brands
- ENE SM : Enel Said to Plan EU3b Sale of Stake in Spain’s Endesa This Week
- EVRY NO : Tieto, Apax and Apollo Vie for Evry, Dagens Naeringsliv Says
- GBB FP : Bourbon 3Q Revenue EU351.3m; Avg. Utilization Rate 79.4%
- HEIA NA : Heineken Says Debroux to Succeed Hooft Graafland as CFO
- INGA NA : ING Bank 3Q Net EU928m, Est. EU1.08b; to Repay Aid by Nov. 7,
- KGX GY : Kion 3Q Sales Rise 5%, Ebit Down 22%; Confirms 2014 Forecast
- KBC GY : Kontron 3Q Order Intake Up 49%, Posts Ebit Loss; Confirms Goals
- KU2 GY : Kuka 3Q Ebit Rises, Confirms 2014 Forecast
- LG FP : Lafarge 3Q Sales, Ebitda In Line, Repeats Market Growth Forecast
- LUPE SS : Lundin Petroleum 3Q Ebitda Beats Est.; Keeps 2015 Prod. Forecast
- KN FP : Natixis 3Q Net Profit EU281 Mln; Est. EU275 Mln
- ORP FP : Orpea Says It’s Studying Acquisitions in Germany, Switzerland
- PTC PL : Apax Said to Prepare EU7b Bid for Oi Portugal Assets
- PTC PL : CMVM Bans Portugal Telecom Short Selling Through Nov. 5
- PYT AV : Polytec Holding 3Q Group Ebit Up 25% to EU4.5m
- ROG VX : Roche to Invest CHF450m in New China Diagnostic Facility
- SPM IM : Eni Seen Working With Credit Suisse on Saipem Stake Sale:Reuters
- TKA AV : Telekom Austria Eyes European Acquisitions, Handelsblatt Says
- TLW LN : Tullow Ghana Halts Gas Flaring at Jubilee as Permit Expires
- UCG IM : UniCredit Says Capital Buffer Higher Than Test Showed: Reuters