Stocks and equity futures traded mixed Thursday as investors mulled how soon economies will be able to ramp up again when the coronavirus outbreak eases. Oil rose amid expectations for production cuts.
European futures climbed while U.S. contracts swung between gains and losses. Most Asian stocks saw a modest rise, though Japanese shares retreated. Volumes were light ahead of the Good Friday holiday in many countries. Earlier, the S&P 500 closed over 3% higher, bringing its rise from the March low to more than 20%. Treasury yields pared some of Wednesday’s gains.
US After Hours DIS +7% jumps as it reaches 50 mln paid subs for DIS+; BIG +17.1% jumps on sale leaseback deal; NLS jumps on strong guidance, NLS +41.3% (guides Q1 revs above consensus, raises EBITDA guidance), EXTR +7% (issues downside guidance for 3Q20; implements actions to manage and reduce operating costs), FCAU -1.9% (TheVerge report says co is recalling 365K cars for backup camera problems)
Nikkei -0.55% Hang Seng +0.58% CSI +0.39% Shanghai +0.41% Shenzen +0.80%
Eur$ 1.0860 CNH 7.0795 CNY 7.0678 JPY 108.92 GBP 1.2367 CHF 0.9720 RUB 75.1237 TRY 6.7736 WTI$25.94 +3.39%
S&P +0.05% EuroStoxx +0.89% FTSE +1.27% Dax +1% SMI
Macro :
- Saudi Wealth Fund Takes Stakes in European Oil Majors: Dow Jones
- Blackstone Raises $10.7 Billion for European Property Fund
- QVR Advisors’ Flagship Volatility Fund Gains Over 50% in March
- Germany Mulls Easing Restrictions On Virus After Easter: HB
- ECB’s Lagarde Renews Fiscal Plea Amid EU Rift on Crisis Spending
- U.S. Investor Bull-Bear Spread -8.07: AAII
- Kuwait Oil Min Khaled al-Fadhel: OPEC+ talks are intended to agree on a 10-15M bpd production cut to restore balance and halt the price decline - financial press
Keep an eye on :
- AIR FP : Airbus to Cut Monthly Aircraft Production Rate by About a Third
- AF FP : Air France-KLM Expects Only ‘Skeleton Operation’ Through May
- ARBN SW : Arbonia Suspends Guidance, 1Q Currency-Adj. Revenue +2.7%
- BMW GY : BMW to Furlough Thousands of U.S. Employees
- BOBNN SW : Bobst Buys 51% Stake in Cito-System; No Terms
- BON FP : Bonduelle Suspends 2019-2020 Financial Objectives
- BRAV SS : Bravida Withdraws Dividend Proposal Amid Covid-19 Uncertainty
- CSGN SW : Credit Suisse to Delay Half of Planned 2019 Dividend to Autumn
- DHER GY : Brazil’s iFood and Delivery Hero’s Colombia Unit to Merge
- DIS US : Disney+ Number of Paid Subscribers Exceeds 50 Million Globally
- EQNR NO : Saudi Wealth Fund Said to Build $200 Million Equinor Stake
- FCA IM : Fiat-Peugeot Union May Be Delayed, Any State Aid Halt Dividends
- FCA IM : -1.9% in after hours in the us on TheVerge report says co is recalling 365K cars for backup camera problems
- GXI GY : Gerresheimer Maintains FY Adjusted Ebitda Margin About 21%
- TKWY NA : Just Eat Takeaway First Quarter Orders 46.7 Mln, +50% Y/y
- LEON SW : Leonteq Sees 1H Profits at About Break-Even; Withdraws 2020 View
- LHA GY ; Lufthansa Says Won’t Name New CFO; to Split Finance Roles
- LHA GY : Swiss Government Doesn’t Intend to Take Stake in Airline Swiss
- MRN FP : Mersen Sees Marked Downturn in 2Q, Espec. in Europe, N. America
- NMC LN : NMC Heads to Administration After Bowing to Creditor Demands
- RBI AV : Raiffeisen Bows to Regulators’ Demand It Stop Paying Dividend
- RECIB SS : Recipharm Cancels Dividend Because of Coronavirus
- RTN LN : Restaurant Group to Sell New Shares Worth ~20% of Capital
- RBS LN : Royal Bank of Scotland CEO, Chairman Take Pay Cut During Virus
- SAB SM : Spain’s Sabadell Cancels Dividend in 2020 Due to Coronavirus
- SAP GY : SAP New License Sales Decline Could Continue Till 4Q: React
- SK FP : Groupe SEB Sees ‘Substantially Larger’ Revenue Loss in 2Q
- SOLB BB : Solvay Maintains Final Dividend, Withdraws FY Adj. Ebitda View
- SPIE FP : SPIE: Board Proposes to Not Pay Final Dividend for 2019
- SW FP : Sodexo Sees EU2.4b-EU2.8b 2H Rev. Shortfall on Coronavirus
- STAN LN : Standard Chartered Says Doesn’t See Layoffs Due to Pandemic
- SEV FP : Suez Proposes to Cut Dividend to EU0.45/Share
- UBSG SW : UBS Sees 1Q Net ~$1.5b; to Pay 2019 Dividend in Two Parts (1)
- FHZN SW : Zurich Airport Doesn’t See Need for Bridge Loan From Government