Dow-0.64% S&P-1.12% Nasdaq-1.26% Russell -2.40%
US Market closed lower after exagerated rebound, oil, basic materials & financials pushed the market lower. WTI crude ended its day lower by 3.8% at $36.48/bbl, energy -4.1%, materials space (-2.0%) followed energy on the leaderboard as the sector pulled back from its 3.0% gain so far in March. Meanwhile the heavyweight financial sector (-1.7%) followed the pair in the back of the pack. IBB-3.6%. Volume were in line with average. US After Hours BUFF +13%, BETR +11.2%, ADRO +8.8%,ZAGG -10.1% following earnings/guidance, AMRN+8% on agreement on litigation. Asian equity markets are generally lower with the exception of a modest bounce in Sydney, where ASX200 is up nearly 1pct in spite of the losses in mining and energy sectors. Shanghai Composite is leading the selloff among decliners. The cloud of soft China exports figures released overnight continues to hang over the investors mindset, and interestingly, PBoC has responded with a slightly weaker fix for the first time in 5 sessions. Comments from a cabinet researcher, who said the 2016 budget deficit rise will be driven mainly by tax cuts rather than a massive fiscal stimulus, is not helping expectations of a stronger policy response from Beijing. In Japan, PM Abe reiterated the govt would not consider new stimulus or an extra budget at this point, also defusing speculation of an early Parliament election this year. Stateside, Donald Trump had a good night in the Republican primaries with victories in Michigan and Mississippi. Hillary Clinton looked more vulnerable after a narrow loss to Sanders in Michigan - a state she was expected to win easily.
Nikkei -0.84% Hang Seng -0.39% Shanghai -2.10%
Eur$1.0976 CNH 6.5176 CNY 6.5148 JPY 112.56 GBP 1.4183 CHF 0.9980 RUB 72.44 WTI $36.70
S&P +0.18% EuroStoxx+0.3% Dax+0.3% SMI
Macro :
- Asian Stocks Slide Deepens on Global Growth Concern; Won Weakens
- Citigroup Warning on Trading Revenue Drags Down U.S. Bank Shares
- Chinese Firms Are Using Hong Kong to Hide Capital Flows: Chart
Keep an eye on :
- AENA SM : Aena, Ardian in Talks to Extend Alliance, El Economista Says
- ADEN VX : Adecco Says 2015 Performance Strong, Rev Matches Est, Div Beats
- BOKA NA : Boskalis 2015 Ebitda Beats Est.; Final Div. EU1.6 as Forecast
- EN FP : Orange Will Decide to Buy Bouygues Telecom or Not Within Weeks
- CO FP : Casino 2015 Trading Profit Misses Ests., Dividend Unchanged
- ACA FP : Credit Agricole Targets FY Net Above EU4.2b in 2019
- DPW GY : Deutsche Post 4Q Profit Beats Estimate; Forecast Reiterated
- DEXB BB : Dexia Seeks EU50M Reimbursement From EU Resolution Fund: Echos
- EDF FP : EDF Expects Return of 9.2% at Hinkley Point, Les Echos Says
- EOAN GY : EON 2015 Net Loss Exceeds Estimates, Confirms Dividend
- RACE IM : Ferrari AGM to Discuss John, Lapo Elkann Appointment to Board
- ITX SM : Inditex 2015 FY Ebitda EU4.7B; Est. EU4.73B
- MMB FP : Lagardere to Cut Up to 260 Jobs W/ Voluntary Departures: Figaro
- LSE LN : ICE Said to Start Lining Up Financing for LSE Bidding War
- SREN VX : Swiss Re Said to Be in Talks to Buy Prime Reinsurance From Citi
- VOW3 GY : VW Labor Boss Says U.S. Fines Threaten Jobs: Sueddeutsche
- VOW3 GY : VW CEO Doesn’t See Group Sales Slump Amid Diesel Scandal: NZZ