Dow+1,02% S&P+1,09% Nasdaq+1,29% Russell+0,65%
US MArket closed Higher after a weak week. Session was queit with S&P Bouncing above its 50d MA on the first hour and holding it the all session. Nine of ten sectors posted gains with materials (+1.7%) ending the day and the week (+2.0%) ahead of the remaining sectors. Today, the growth-sensitive group received support from Monsanto as the stock spiked 3.9% after Bloomberg reported the company has approached Syngenta about a potential takeover. Outside of energy, the financial sector (+0.8%) was the only other cyclical group that ended the day behind the broader market. Meanwhile, the top-weighted technology sector (+1.5%) outperformed even as LinkedIn plunged 18.6% after its cautious guidance overshadowed a one-cent beat. However, LinkedIn's weakness was offset by most large cap names with the likes of Apple, Oracle, and Intel gaining between 1.7% and 3.0%...China April final HSBC manufacturing PMI posted 48.9, missing consensus of 49.4, as largest contraction for one year with total new orders declining at the strongest pace for a year while production levels stagnated. The weak results bolstered chances that PBoC to further ease monetary policy. Separately, Chinese press printed opinion piece suggesting the window for both interest rates and RRR cuts is approaching but anther QE is unnecessary to deal with downturn pressure now. Most Asian markets resume after holidays. Shanghai composite deepened decline by 1.1% after HSBC data but changed into positive territory afterwards. China developers rally with improving results in April. For the first time over a decade, IMF is close to declare Yuan is fairly priced, shifting to counter the Obama administration view that Yuan is "significantly undervalued". South Korea President comments economy shows positive signs of recovery while New Zealand Prime Minister Key sees it will take longer time to return to budget surplus.
Nikkei +0.06% Hang Seng +0.13% Shanghai +0.56%
Eur$ 1.1215 RUB $51.6765 EURCHF 1.0465 CHF 0.9332 WTI $59.13 (-0.03%)
S&P -0.08% EuroStoxx -0.08% Dax +0.22% SMI +0.28%
Macro :
- HSBC China April Manufacturing PMI 48.9; Est. 49.4
- ECB Representatives to Sit on Boards of Banks, El Pais Reports
- Icahn Says BlackRock’s Fink Makes Fixing Bad Businesses Harder
- Greek Aid Talks Gain Urgency as Breakthrough Remains Elusive
- Greece Willing to Consider Single VAT Rate in Debt Talks: FAS
- Iran Expects First Draft of Nuclear Deal Within Days
- Buffett Says Euro in Its Present Form Won’t Work
- Buffett Says Berkshire Will Buy German Co. in Next Five Years
Keep an eye on :
- ADS GY : Adidas CEO Opposes Selling Off Reebok as Separate Company: FAS
- ALV GY : Allianz to Join Bid for London Sewer Project, Sunday Times Says
- AMS SM : Japan Airlines to Use Amadeus Cloud Computing System: Nikkei
- AREVA FP : Areva Weighs Selling Stake to Chinese Energy Companies, JDD Says
- BNP FP : BNP Paribas May Move Geneva Back-Office Jobs to Portugal: Temps
- BRE IM : Brembo May Consider Acquisitions in Automotive, Aerospace: Sole
- BT/ LN : BT to Submit EE Acquisition Case to Regulators, FT Says (Yday)
- AM FP : Hollande Arrives in Qatar to Sign Dassault Contract, AFP Says
- AM FP : Dassault CEO Says More Contracts Possible in 2015, Figaro Says
- DGE LN : Diageo Considering sale of portions of its wine operations - Sky News - Has been approached by potential buyers of its global wine operations, including Blossom Hill and Sterling Vineyards. Wine brands only account for 4% of Diageo's sales.
- EDF FP : EDF’s Nuclear Energy Prices Won’t Rise on July 1, Les Echos Says
- F US : Ford Abandons Plans for Car Seats That Detect Heart Attacks: FT
- HSBA LN : HSBC May Set Aside Funds for Additional Fines, Telegraph Says
- IBM US : IBM - Warren Buffett: bought more IBM during Q1 - CNBC Buffett declines to say how much more he bought but said the exact numbers will be in the company's SEC quarterly holdings filing (as of the end of Q1) due around the middle of this month. Berkshire held 7.8% as of Dec 31, making it the top institutional holder.
- KPN NA : KPN Is Logical Takeover Target in the Long Run, CEO Tells FD
- KPN NA : KPN CEO Blok, CFO De Jager Buy Co. Shares: Regulatory Filings
- KPN NA : KPN chief not averse to merger with Proximus - Financieele Dagblad
- NEX FP : Amber Backs Nexans Cost-Cutting Strategy, Les Echos Says
- NEX LN : National Express Set for Rhine-Ruhr-Express Tender: Rheinische
- OCR US : Omnicare attracts interest of Walgreens Boots Alliance
- ORA FP : Orange Will Need to Give Up Jazztel ADSL Network, El Pais Says
- ORA FP : Orange Faces French Tax Control Procedure, Le Parisien Says
- RNO FP : Nissan U.K. Plant at Risk if Country Quits EU: Sunday Times
- REP SM : Repsol Announces New Natural Gas Discovery in Bolivia
- SAP GY : SAP denies press report about talks with CRM; says never considered acquiring Salesforce.com
- SIE GY : Siemens Investigated in China for Alleged Bribery: Reuters
- SKG LN : Smurfit Kappa CEO says company open to takeover; International Paper looking at making bid
- STL NO : Statoil interested in acquisitions - Dagens Naeringsliv
- TSCO LN : Tesco turns down GBP 4bn offer for South Korean operations from Carlyle
- TETY SS : Tethys Petroleum hires advisor, expands strategic review
- FP FP : Total to Pay French Tax on 2015 Profits, Usine Nouvelle Says
- UBSN VX : UBS to Pay Up to CHF1b in FX Probe This Month: Sonntagszeitung
- VOD LN : Vodafone, EE Said to Sell Weve Stakes to O2: The Times