US Market closed lower - Nasdaq leaded the move (-2,60% lower), market opened on the highs and decline all day...Tech lower and Utilities Higher in a defensive move...Volume were above average with 764mil shares...VIX @ 13,96 +4,41%...Alcoa is reporting tomorrow after the close..JPM & C at the end of the week...World Bank cut its forecast for China GDP by a decimal to 7.6% in 2014 while also affirming its 2015 forecast at 7.5%, reflecting a "bumpy start to the year". Specifically, World Bank noted slowing growth rate of industrial production and contraction in exports, but also said it expects "quarterly growth to rise at midyear as external demand from the high-income countries solidifies." For the developing East Asia and Pacific (EAP) region, World Bank also cut its 2014 and 2015 targets to 7.1% from 7.2% previously expected....- In Japan, local press report assessed the early impact of higher sales tax, noting "car dealerships and department stores saw a noticeable drop in business the first weekend after the 5% consumption tax went up to 8%, but electronics retailers fared less badly than they had feared." Late last week, PM Abe's economic adviser Honda reiterated his support for BOJ to undertake additional easing, while a research report from SocGen forecasted BOJ would announce fresh measures at its Apr 30th meeting. Note that the BOJ will also make a policy announcement in tomorrow's session....Nikkei -1.78%...HS-0.72%...Shanghai+0.72%
Eur$ 1.3703 S&P Fut -0.20% European Fut: -0.79%
Macro
- Japan Econ Min Amari: PM Abe will tread carefully regarding further sales tax increases
- Hungarian Markets May Slump on Orban’s Election Win, SocGen Says
Keep an eye on :
- ATC NA : Altice, Numericable to Finance SFR Offer With Rights Offer, Debt E4,7b 0f Right Issue & E8,8bi if debt
- ANA SM : Acciona, Ferrovial Win EU630m Australia Road Deal: Economista
- AZA IM : JAlitalia-Etihad Deal May be Delayed by Cost Cut Requests: Sole, PMorgan Advising Etihad in Alitalia Talks, Il Sole 24 Ore Says
- STS IM : GE Still Considering Ansaldo STS Acquisition: Beccalli-Falco
- AZN LN : AstraZeneca Aims to Introduce 10 New Drugs by 2020: Handelsblatt
- BARC LN : Barclays Sells U.A.E. Retail Unit to Abu Dhabi Islamic Bank Buys Operations for $177 Million
- BSLN SW : Basilea Says Drug Candidate BAL101553 Shows Antitumor Activity
- EN FP : Bouygues Says It Submitted Cash Component of 15.5 Bln Euros
- BBVA SM : BBVA Sees Mexico Economic Rebound in Mid-2014: Reforma Link
- BG/ LN : BG Group Moves Global LNG, Oil Marketing Center to Singapore
- CABK SM : CaixaBank Buys 5% Stake in Co. That Controls FCC (Earlier)
- CGG FP : CGG Says Malcor's Term as CEO Renewed for Three Years
- CSGN VX : Credit Suisse Said Target of Civil Probe by NY’s Lawsky: NYT
- DAI GY : Daimler Shareholders Want to Limit CEO Zetsche’s Powers: FAZS
- DELB BB : Barron's +ve, good restructuring story and strong balance sheet, could be debt free by end of 2015
- DBK GY : Deutsche Bank Chairman Achleitner said to have given support to the current management of co-leaders
- DEX GY : Delticom : CEO: May double sales to €1B within 5 years if things continue to go well - German press
- EDF FP : France’s Royal Says Fessenheim Nuclear Plant to Shut by End-2016
- EVK GY : Evonik Prepared to Make Acquisitions, CFO Tells Boersenzeitung
- OGZD LI : Gazprom Will Keep German Agreements, Medvedev Tells Handelsblatt
- GSK LN : Glaxo Said to Be Investigating Iraq Bribery Accusations: WSJ
- HOF LN : Sports Direct’s Ashley Buys 11% Stake in House of Fraser, Sanpower to buy the 89% value yhe co at 450mil pnd
- HOLN VX/LG FP : Holcim-Lafarge Deal Would Get Scrutiny From Brussels to Brazil
- HOLN VX/LG FP : Holcim With Lafarge Said to Maintain Listings in Merger
- LEG GY : LEG Immobilien to Sell ~EU300m of Convertible Bonds
- MAERSKB DC : Maersk Line Cuts 12% of CO2 Emissions From Ships in 2013
- MEDAA SS : Meda may see Mylan increase offer Dagens Industri
- MKS LN : M&S Says U.K. Grocery Industry Seeing Seismic Change: Telegraph
- NESN VX: Nestle’s Brabeck Will Step Down as Chairman in 2017: Le Temps
- NOVN VX : Novartis’ Bexsero Vaccine Gets FDA Recommendation in U.S.
- NUM FP : Altice Says It Welcomes Vivendi’s Decision on SFR
- ORA FP : Orange CEO Wants Employee Shareholding to Rise to 10%: Figaro
- PHARM NA : Pharming Says ‘Unlikely’ FDA Won’t Clear Ruconest: De Telegraaf
- RNO FP : Nissan and Renault are firmly committed to Russia operations despite Crimea issue; tensions expcted to fade over time
- ROG VX : Roche to Work With Oryzon to Turn on Cancer-Supressing Genes
- SDF GY : K+S Says U.S. Salt Ops Offset Warm German Winter, FAZS Reports
- GLE FP : Societe Generale Seeks Organic Growth in Germany, CEO Tells WiWo
- GLE FP : SocGen Sees French Insurance Growth Prospects, Echos Says
- UCG IM : UniCredit’s Ghizzoni Says Fineco IPO to Take Place by July
- VIV FP : Vivendi Accepts Altice’s EU13.5 Billion Offer for SFR Phone Unit
- VOD LN : Vodafone Egypt Appeals Against Competition Authority: Al Borsa