Dow+0.40% S&P+0.09% Nasdaq-0.19% Russell+1.13%
US market closed mixed as heavy tech sector retreat after few days of OP. Energy+2.4% with WTI+5.5% to $37.90/bbl, WTI crude has jumped 45.5% from its 52-week low of $26.05/bbl on February 11. materials sector (+1.2%) was a distant second while countercyclical health care (+0.8%), telecom services (+0.7%), and utilities (+0.6%) followed. Commodity-sensitive materials received a boost from an overnight surge in iron ore, but also outperformed thanks to large cap . The company climbed 2.4% on news that BASF is considering a counter bid for DuPont during its pending merger with Dow Chemical. large-cap components underperformed with Facebook and Alphabet diving 2.4% apiece. Amazon and Nike plunged a respective 2.2% and 3.3%. Separately, influential Netflix plunged 6.0% after ITG Research cast doubt on the company's domestic streaming estimates. Volume were in line with average 1.1b. US After Hours XNCR +18.8%, AMID +13.8%, URBN +11.3%, ACRX -9.0%, SHAK -7.7% following earnings/guidance ILMN-1.6% on management change. Asia markets are down across the board, led by Shanghai Composite which fell after 5 straight days of gains. Soft China trade numbers exacerbated the decline but sentiment turned to risk-off from the start of the session as investors took profits across asset classes. Both copper and oil are down over 1%, gold is up slightly, and USD/JPY fell as much as 70pips below 112.80 before a slight bounce late in the day. China trade balance hit a 10-month low in CNY terms at 209.5B V 341BE and an 11-month low in USD terms which were also well below consensus at $32.6B v $51.0Be. Japan economy is confirmed to have contracted for the 2nd time in 3 quarters. GDP declines in the final prints were revised to be smaller with mixed component trends, as Capex was stronger than expected and Consumption was slightly weaker .DuPont
Nikkei -0.76% Hang Seng -0.61% Shanghai-0.79%
Eur$1.1021 CNH 6.5086 CNY 6.5068 JPY 112.99 GBP 1.4239 CHF 0.9932 RUB$71.4692 WTI$37.47(-1.13%)
S&P -0.44% EuroStoxx-0.53% Dax-0.58% SMI-0.55%
Macro :
- China’s Feb. Exports Fall 20.6% Y/y in Yuan Terms
- China Feb. Retail Auto Sales Fall 3.7% on Year: PCA
- ECB Said to Watch Liquidity at Some Italy Banks Daily: Reuters
- Visium Said to Be Probed on 2013 Credit Fund by DOJ, SEC: DJ
- Goldman Says ‘Premature’ Rally in Commodities Is Unsustainable
Keep an eye on :
- PSI- 20 : C. Amorim, Montepio, Sonae Capital Join PSI-20 Index: Euronext
- AC FP : Hilton Europe 2016 Growth Seen ‘Close Second’ to Asia, CEO Says
- AIR FP : Airbus Helicopters Fined EU30,000 Over Employee Death: AFP
- AF FP : Air France-KLM Feb. Passenger Traffic Rises 6.3%
- ATC NA : Altice-Cablevision NYC Hearings Delayed Until April 11
- BLT LN : BHP Says Iron’s 19% Surge Doesn’t Change Outlook as China Shifts
- BIFF LN : Singapore’s Keppel Said to Be Among Bidders for Biffa: Sky
- BRBY LN : Burberry seeks help to fight off potential takeover bid - FT http://on.ft.com/21hrONa --> BURBY +8.7%, Daily mail saying coach & PE are interested.
- CO FP : Muddy Waters Sees ‘Additional Doubt’ on Casino France Recovery
- DB1 GY : Deutsche Boerse Says Artisan Fund’s Managers Bought 3.21% Stake
- DLG GY : Dialog Semiconductor 1Q Revenue Outlook Below Ests.; Names CFO
- EDF FP : France’s Royal: Fessenheim Plant Should Be Ordered Shut in 2016
- EDF FP : Dong and EDF’s sale of stakes in French wind portfolio slowed - Merger Market
- FCC SM : Slim Demands 20% Margin on FCC Spain Works Contracts: Expansion
- GFT FP : Gameloft to detail strategic plan on 22 March, FY results to be publish on 21st of March
- HUBN SW : Huber & Suhner 2015 Ebit Margin 7.4% vs 9.2%; Plans Div CHF1
- KCR1V FH : Konecranes' possible cancellation of merger with Terex may not be negative - Arvopaperi
- KPN NA : KPN CEO Expects 5G to Become Commercially Available Around 2020
- RWE GY : RWE Posts 2015 Results, Confirms 2016 Forecast
- SCHP FP : Seche Environnement FY Rev. EU 440m vs EU 433m
- SY1 GY : Symrise 2015 Sales In Line, Div. Misses BDVD; Confirms M/T Goals
- SYNN VX : ChemChina Publishes Prospectus for Syngenta Offer
- TEF SM : Telefonica to List Telxius Unit Before July 1, Expansion Reports
- VIV FP : Mediaset and Vivendi look to launch European pay TV platform via joint venture - Il Sole 24 Ore
- VOW3 GY : German Prosecutors Say 17 Probed in VW-Emission Scandal: Funke
- WEIR LN : Weir rumoured to be on GE Capital's radar - Daily Mail