US Market closed Higher, Biotech remained volatile...Volume were on the light side @ 620mil shares...VIX @14,41 -1,44%...
Telco (+1,81%), Utilities(+1,69%), Oil&GAs(+1,59%) were best performers this week Technology(-2,66%) Consumers Services(-2,52%), Healthcare(-2,32%) & Financials (-1,50%)were worst...With anticipated drop-off in consumption going into the start of higher sales tax this week, Japan manufacturing is already slowing. Markit PMI fell for the 2nd consecutive month with a 0.6pt decline, while the Output component was down over 4pts at 54.2. Separately, industrial production for Feb fell sharply as well - 2.3% drop was the biggest decline in 8 months....All of China's top 5 banks have now reported FY13 results and the results are seen as somewhat alarming. China Construction Bank and Bank of Communications both saw an increase in y/y net profits, however impairment losses for both rose and ROEs fell. A separate report summarized that China's top 5 banks saw a 127% increase in bad debts to CNY59B....Nikkei +0.67%...HS +0.21%...Shanghai -0.22%
Eur$1.3748 S&P Fut +0.35% European Fut +0.32%
Macro :
- Putin Calls Obama to Discuss Diplomatic Resolution to Ukraine
- Merkel Pressed by Industry-Labor on German Energy Tax, WiWo Says
- ECB's Weidmann: ECB should only react to low inflation in the event of 2nd round effects; ECB should not overreact to a fall off in inflation which is largely due to cyclical factors
- ECB Rate Increase Seen by German Finance Ministry, Spiegel Says {NSN N38TO36S972C <go>}
- *COAL PRICES ARE CURRENTLY UNSUSTAINABLE, SAYS GOLDMAN SACHS
Keep an eye on :
- ARL GY : Aareal Bank CFO: Improvement in bank's capital ratios may result in payment of a special dividend - G. press
- AGFB BB : Agfa CEO Reinaudo Says Company’s Prospects Improving: De Tijd
- ALO FP : Alstom Signs EU55m Turnkey Contract With Petkim for Wind Project
- AAPL US : Apple seeks $2bn from Samsung in fresh patent battle - FT
- EN FP : Bouygues Seeks Funds From Qatar to Raise Offer for SFR, JDD Says {NSN N38R4C6TTDS0 <go>}
- CNA LN : Belgium’s Ardo and Dujardin Foods Agree to Merge, Companies Say
- DAI GY : Daimler’s Mercedes-Benz Idles Brazil Truck Unit: Estado Link
- DELB BB : Delhaize to Prioritize Four Countries(US, Belgium, Greece, Serbia), discount retail in belgium was a mistake, CEO Muller Says: L’Echo
- DRI GY : Drillisch Mulls Special Dividend or Share Buyback, Welt Says
- ENI IM : Knight Vinke sells Eni stake (1%) due to uncertainty over next CEO
- GSK LN : Glaxo Plans to Build as Many as 5 Factories in Africa: Telegraph
- HOF LN : Sanpower in advanced discussions regarding takeover bid for House of Fraser - Sunday Mail
- INGA NA : ING Plans To Resume Dividend Payments Over Financial Year 2015
- LHA GY : Lufthansa Insists Pilot Benefits Must Be Cut, Der Spiegel Says
- LKOD LI : Lukoil Begins commercial production in Iraq's West Qurna-2 site, Sees the site as the world's second-largest untapped oil deposit - Report noting West Qurna-2 is eventually expected to reach 1.2M bpd from initial 120K bpd.
- MAB LN : Mitchells & Butlers and Greene King (GNK LN) the subject of merger rumour
- MMB FP : Lagardere to Sell Magazines to Reworld Media, Rossel, Echos Says
- MS IM : Mediaset May Get Partner for Pay-TV After Creating New Co.: Sole {NSN N38W8X6K50Y2 <go>}
- MRK GY : Amgen Drug Cuts More Cholesterol Than Merck’s Zetia in 2 Studies {NSN N35PI66TTE0B <go>}
- MC FP : Taramax (switch swatch maker) acquired by Fendi -amount not disclosed
- MONC IM : Moncler Sees ‘Growth Scenario’ in 2014, Proposes EU0.10/Shr Div.
- NEO FP : Neopost Sees 15-20% Margins on Communication, Shipping: Investir
- NOVN VX : Novartis may spin-off company unit (poorly performing one - no details), animal health, vaccines and over-the-counter medicines mentionned by CEO Jimenez in the press earlier - Tagesanzeiger
- NOVN VX : Novartis Says Primary Endpoint Met in LCZ696 Trial
- PARP FP : Partouche Reaches Accord With Creditors, Le Figaro Says
- RCS IM : RCS to Convert Savings Shrs, Reserve Board Seats for Minority
- RDSA NA : Talevera and Aiteo, two Nigerian oil companies, have tabled the highest bid, worth USD 2.85bn, for assets owned by Shell in Nigeria
- RSA LN : RSA Insurance break-up talk follows Cevian Capital's disclosure of 7.3% stake - FT
- RWE GY : RWE, LetterOne Sign Purchase Agreement for DEA Unit, entreprise value E5.1b, Germany Won’t Halt RWE Oil-Unit Sale to LetterOne, Spiegel Says
- SAN FP : *SANOFI NAMES ANNE C. BEAL CHIEF PATIENT OFFICER
- SAN SM : Santander CEO Marin Gets 94.5% Backing at AGM For Board Post
- SIE GY : Siemens CEO’s Russia Trip Criticized by Merkel Deputy, ARD Says
- SN/ LN : Break-up talk pushes S&N higher, according to investec, Co would be worth around 15 per cent more if it were split into three.
- SNG GY : Singulus 2013 Net Loss Narrows, Sees Positive Ebit for 2014
- GLE FP : SocGen Accused Over Deals by Libya Investment Authority: FT
- TRN IM : Terna May Consider Acquisitions, Interested in Greek Asset: Sole
- UCG IM : UniCredit May Raise More Than EU1b From Selling Unit: Messaggero
- UCG IM : ICBC mulling bid for Pioneer Investment Management
- UHR VX : Swatch CEO Hayek Seeks to Expand to 1,700 Stores, NZZ Reports
- VIV FP : Canal+ Loses Bid to Halt French Soccer TV Rights Sale: Echos