>>> Barroso Sees `No Reason for Panic Or Alarm' Regarding Fin Mkts {NSN NDJ9DW6K50Y2<Go>}
--> FIRST to speak, should see some more comments from ECB soon...as there is clearly some panic here...
Barroso Sees ‘No Reason for Panic Or Alarm’ Regarding Fin Mkts
2014-10-16 10:34:44.610 GMT
By Ryan Chilcote and Lorenzo Totaro
Oct. 16 (Bloomberg) -- “We have to be attentive to the
markets and we are,” European Commission President Jose Barroso
says in an interview with Bloomberg Television in Milan.
* “We are seeing the possibility of a slow growth globally,
in other parts of the world lower demand, we have seen the
evolution for instance of the price of oil”
* “There are several indications that can suggest global
slower growth. We have to take this seriously, but I think
there is no reason for panic or alarm, that is clearly my
position”: Barroso responding to question about latest
developments on international financial markets
* NOTE: Renzi Says Crisis Is Returning Dramatically on
Financial Mkts NSN NDJ6R36K50XY<GO>
Link to Company News:0629846D BB <Equity> CN <GO>
For Related News and Information:
First Word scrolling panel: FIRST<GO>
First Word newswire: NH BFW<GO>
To contact the reporter on this story:
Lorenzo Totaro in Rome at +39-06-45206326 or
ltotaro@bloomberg.net
To contact the editor responsible for this story:
Kevin Costelloe at +39-06-4520-6320 or
kcostelloe@bloomberg.net
2014-10-16 10:34:44.610 GMT
By Ryan Chilcote and Lorenzo Totaro
Oct. 16 (Bloomberg) -- “We have to be attentive to the
markets and we are,” European Commission President Jose Barroso
says in an interview with Bloomberg Television in Milan.
* “We are seeing the possibility of a slow growth globally,
in other parts of the world lower demand, we have seen the
evolution for instance of the price of oil”
* “There are several indications that can suggest global
slower growth. We have to take this seriously, but I think
there is no reason for panic or alarm, that is clearly my
position”: Barroso responding to question about latest
developments on international financial markets
* NOTE: Renzi Says Crisis Is Returning Dramatically on
Financial Mkts NSN NDJ6R36K50XY<GO>
Link to Company News:0629846D BB <Equity> CN <GO>
For Related News and Information:
First Word scrolling panel: FIRST<GO>
First Word newswire: NH BFW<GO>
To contact the reporter on this story:
Lorenzo Totaro in Rome at +39-06-45206326 or
ltotaro@bloomberg.net
To contact the editor responsible for this story:
Kevin Costelloe at +39-06-4520-6320 or
kcostelloe@bloomberg.net
EU Commission issues statement on Greece: Sees strong evidence Greece has turned the corner and progressed towards sustainable growth
- EU wants to smooth Greek path back to full market access
- Will continue to assist Greece if needed
- Follow-up to Greek bailout from Euro zone which ends this year will be discussed later this year
Mattel misses by $0.01, misses on revs (30.54)
Reports Q3 (Sep) adjusted earnings of $1.01 per share, $0.01 worse than the Capital IQ Consensus Estimate of $1.02; revenues fell 8.4% year/year to $2.02 bln vs the $2.18 bln consensus.
- Co reported 2014 third quarter financial results. For the quarter, the Company reported net income of $331.8 million, or $0.97 per share, which includes a negative impact of $0.05 per share from MEGA Brands integration costs and a tax benefit of $0.04 per share, compared to last year's third quarter net income of $422.8 million, or $1.21 per share, which included a tax benefit of $0.05 per share.
- Worldwide gross sales by core brands: Barbie down 21%; Hot Wheels up 5%; Fisher-Price down 16% and American Girl down 7%.
- Gross margin decreased 330 basis points of net sales, partially due to the acquisition of MEGA Brands.
Danaher reports Q3 EPS in-line with upside preannouncement; guides Q4 EPS, including items
Reports Q3 (Sep) earnings of $0.90 per share, $0.01 better than the Capital IQ Consensus of $0.89; revenues rose 4.3% year/year to $4.87 bln vs the $4.89 bln consensus.
- Co raised Q3 EPS guidance to $0.90 from $0.86-0.89 on Monday, Oct 13 when it announced it will spin/merge its Communications business with NTCT.
Japan Dep Econ Min Nishimura: No comment on specific FX levels; says JPY buying intervention unlikely
Support are not holding more than few seconds...all broken...not even time to send bbgs...next gap 8295 /8350 on the dax
From: LAURENT CHEKROUN () At: Oct 16 2014 11:37:45
To: LAURENT CHEKROUN ()
Subject: Fwd:>>> DAX - Testing important Support - Value here look interesting...see chart at
Subject: Fwd:>>> DAX - Testing important Support - Value here look interesting...see chart at
Dax trading below 11 PE and below 10 for 2016{DAX Index EEO<Go>}
Dax trading below 11 PE and below 10 for 2016
{DAX Index EEO<Go>}
>>> The Crash
Since Sept highs global stock market cap off $4.85 trillion. S&P500 peaked roughly 8 minutes after 9/19 Alibaba IPO launch. Crash driven by end of QE, “growth shock” (Chart 1) & big position unwinds in energy, merger arbitrage & Europe.
>>> The Capitulation
Cash, flows, volatility, climactic selling of winners = short-term trading low for risk assets. BofAML Breadth Rule trading “buy signal” was triggered intra-day. Note rally in “meltdown leaders”…small cap energy stocks up 8% from lows after 40% sell-off in 7 weeks.
>>> The 3P’s
Classic cyclical lows triggered by Positioning, Profits & Policy. An October low requires EPS resilience and/or US consumer data that cause rates to rise. Global policy coordination and/or German ECB panic also required for investors to reduce
cash. In contrast, bear market risk comes from an LTCM-event and/or policy conflict (the End of QE = Start of a Currency War).
>>> The Trades
Investor conviction is low. Nonetheless, the contrarian should soon buy Pain, and sell Pleasure. Our Oct’14 FMS shows that the assets most vulnerable to a trading rally are EM, commodities, resources, small-cap and European cyclicals. Absent a
recession, the USD, real estate and stocks over bonds remain our favored asset allocation for 2014/2015.