Dow-1,11% S&P-0,88% Nasdaq-0,94% Russell-0,40%
US Market closed lower,extended its March decline, but was able to end the first quarter in the green. The S&P 500 (-0.9%) lost 1.7% for the month, but added 0.4% during the first quarter. The tech-heavy Nasdaq (-0.9%) outperformed, losing 1.3% in March to narrow its Q1 gain to 3.5%. For its part, the Dow Jones Industrial Average (-1.1%) lost 2.0% in March and shed 0.3% in Q1...cyclical sectors, industrials (-1.0%) were pressured by large cap names like Boeing (BA 150.08, -2.62) and General Electric (GE 24.81, -0.31) while the energy sector (-0.9%) lagged amid weakness in crude oil. WTI crude fell 1.9% to $47.72/bbl and locked in a 12.7% decline for the quarter. For its part, the energy sector lost 3.6% in Q1. Nine of ten sectors ended the month in negative territory while health care (-1.5%) gained 0.8% in March..volume were above average for the last day of the month/Q1...US After Hours STLD +7.0%, FSI +3.9%, FRPT +0.3%, CTSO -47.0%, UTIW -11.8%, RKT -5.1% following earnings/guidance...VLTC +98% on Icahn 52.3% stake in 13D...DYAX+49.8% on positive phase 3...Asian indices are mixed, as markets in China respond to a surprise expansion in manufacturing PMI, while Tokyo succumbed to a disappointing quarterly Tankan. China released PMI figure that showed manufacturing return to expansion after two months of contraction. Output component saw the biggest increase, as the slide in new export orders pointed to tepid external demand. Non- manufacturing was down slightly, bus still firmly in expansion territory. HSBC data, measuring smaller enterprises, topped consensus but was still in contraction at 49.6, and resident economist pointed to "the pace of job shedding the strongest since last summer".Also of note in China, avg prices of new residential properties across 100 major cities fell 0.15% - a similar margin relative to the prior month's -0.24%. China Index Academy added that thus far in march, housing inventories have been falling. Japan Q1 Tankan missed expectations on manufacturing side, and industrial capex was particularly troubling as the first decline in 2 years. BOJ noted the unchanged sentiment among big auto makers and electrical machinery makers despite weak Yen, while some lawmakers moved to pressure the central bank into further easing. Chief cabinet Seg Suga however remarked that economic revival is still progressing smoothly. Separately, Japan Markit PMI retreated by a decimal to 50.3, even though remaining in expansion for the 10th month. USD/JPY fell over 50pips below 119.50 in the aftermath of the Tankan data, weighing on Tokyo stocks...General risk aversion after the Tankan coincided with the selloff in US equity futures, as S&Ps fell over 20pts or 1% in electronic trade. After earlier report suggesting the two sides in the Iran nuclear talks remain at odds, Russian Foreign Min Lavrov announced the main elements of a deal have been reached and the final details will be agreed upon by June 30th. WTI continued its retreat from US hours falling below $47.50 in electronic trade going into Wednesday's DOE inventories release.
Nikkei -0.22% Hang Seng +0.63% Shanghai +1.13%
RUB $57.9383 WTI $47.38 (-0.46%) EURCHF 1.0447 CHF 0.9693
Eur$ 1.0778 S&P -0.72% EuroStoxx-0.69% Dax -0.97% SMI -0.65%
Macro :
- HSBC China March Manufacturing PMI 49.6; Est. 49.3
- China March Manufacturing PMI 50.1; Est. 49.7
- Three Lenders May See Probe by ECB Banking Supervisor: FT
- EU Draft Would Allow Banks’ Proprietary Trading: Handelsblatt
- Japan’s Topix Drops After Tankan as Yen Gain Weighs on Exporters
- New York Post: Diplomats say deal is near in nuclear talks with Iran | New York Post
Keep an eye on :
- BARN SW : Barry Callebaut 1H Net, Ebit Beat Estimates; Revenue in Line
- BEI GY : Beiersdorf Preparing for Acquisitions, CEO Says: Boersen Zeitung
- CLN VX : Clariant Chairman Rudolf Wehrli says company not for sale - Tagesanzeiger
- DC/ LN : Apple Declines to Supply Watch to Carphone Warehouse: Telegraph
- ENX FP : Norges Bank Reports 3.06% Stake in Euronext: Regulatory Filing
- HSBA LN : HSBC to Cut Some Hong Kong Investment-Banking Jobs: Ming Pao
- IIA AV : Teleios Says Immofinanz Should Review Other CA Immo Options
- LHA GY : Lufthansa Documents Show Co. Knew of Co-Pilot’s Depression
- ORA FP : France to Open Bids for 700 MHz Mobile Frequency in July: Echos
- PHIA NA : Chinese Investor Group in Talks on Debt Funding for Philips Deal
- PTC PL : P. Telecom Board, Oi Shareholders Agree New Structure for Oi
- SAP BB : Sapec 2014 Net Loss EU228,000 vs EU23.3 Mln Loss Y/y
- TEL NO : Telenor Says Subscriber Growth in Myanmar Exceeds Expectation
- TEL2B SS : Tele2 CEO Says ’Would Be Good’ If German Unit Could Be Sold: DI
