DECnews

FC: GLOBAL MARKETS AND NEWS ROUND-UP / OUTLOOK December 18, 2017 at 07:11AM

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UK seen up 10 / DAX up 86 / CAC up 37 / EStoxx50 up 25

PM May says she would not be derailed from leaving the European Union, laying the groundwork for difficult meetings this week in which she will try to unite a divided cabinet behind her vision for post-Brexit Britain.

US MARKETS (% move from European close):

Dow -0.03 24651.74

S&P 0.08 2675.81

Nasdaq 0.37 6936.583

VIX -1.67 9.42

The U.S. markets ended the week on a positive note, buoyed by renewed faith in tax reform, with all 3 markets closing at new all-time highs. The S&P finished the up 0.9%, up 0.1% from the European close, while the Nasdaq finished the day up 1.2% and the Dow finished up 0.6%. 10 out of 11 S&P sectors ended in the positive led up by the technology, up 1.2%, health care up 1.2%, consumer staple, up 1.1% and financial, up 1%, sectors. Meanwhile ending in the negative was the energy, flat, sector. Trading volumes on the day were well above recent averages helped by the options expiry.

AFTER HOUR MOVERS:

Akamai Tech up 13.5% Singer’s Elliott takes stake in Akamai, seeks talks / Snyders-Lance up 5% Campbell’s is said in advanced talks to buy Synder’s-Lance, CNBC / TD Ameritrade up 2.5% to offer Cboe Bitcoin futures today

DUE TODAY:

AFTER MARKET: HEICO Corp

ADR MOVERS SINCE EUROPEAN CLOSE:

WPP up 1%, ASML up 1%

NORSK HYDRO down 1.5%

ASIAN MARKETS:

Nikkei 1.55 22901.77

Hang Seng 0.89 29106.13

Shanghai -0.28 3256.97

Australia 0.70 6038.93

Asian markets have mainly started the week on a positive note led up by Japan with decent gains while China is the exception as they underperform and trade just below their flat line. Data wise China’s average cost of new housing in 70 major cities grew 5.1% in Nov, as growth decelerated for a twelfth straight month and the slowest rise since early 2016, YoY terms prices rose in 59 of the 70 cities surveyed. Japan had a merchandise trade surplus of ¥113.357Bn in Nov, vs est for a deficit of ¥40.0Bn, which follows the ¥285.4Bn surplus in Oct, exports were up 16.2% on year, vs est 14.7%, while imports climbed an annual 17.2%, vs est 18%.

NOBEL up 15%, HTC up 6%, TOYOTA up 2.5%

M & A:

– STATOIL agrees to buy 25% stake in Roncador for up to $2.9Bn, says transaction nearly triples its output in Brazil

– GEMALTO accepts THALES offer to buy company at E51 per share in cash, or E4.8Bn, ATOS says won’t pursue offer to buy Gemalto

– 3I is said to plan to sell Ferry Company Scandlines, Sunday Times reports

– BBVA says finance industry in consolidation phase, “there are 20,000 banks worldwide. It doesn’t make sense in the digital world,” La Vanguardia reports

– GIVAUDAN in exclusive talks to buy Expressions Parfumees

– GENERALI to sell Ireland-based Generali Paneurope, initial consideration at E230m, deferred consideration up to E10m

– ACKERMANS & VAN HAAREN sells BDM-ASCO for E35m to The Navigators Group, sees E6m gain from sale

– MAPFRE, Mutua are said to be interested in TELEFONICA Insurance Unit which could be valued around E200m, Expansion reports

COMPANY NEWS:

– RIO TINTO plans to boost autonomous truck fleet 50% by 2019, Rio’s Iron Ore ceo says demand ‘very high’ for flagship product

– H&M may need a new management, says Didner & Gerge’s co-founder Henrik Didner, Dagens Industri reports

– UBS Chairman says to talk about next CEO when time comes, NZZ reports

– STEINHOFF INT will meet key creditors and insurers at a meeting in London on Tuesday, Sunday Times

– TELE2 to propose nomination of Georgi Ganev as new Chairman to succeed Mike Parton.

– HELVETIA’S Pierin Vincenz is stepping down as chairman with immediate effect, Doris Russi Schurter will take over as interim

EUROPEAN EX-DIV’S:

STMicroelectronics $0.06 / Van Lanshot Kempen €1 / Repsol €0.388

COMMODITY SNAPSHOT (% move from European Close):

Gold 0.18 1256.32

Copper -0.34 53480

Oil 0.47 57.64

Natural Gas 0.08 2.653

EUR/USD 0.02 1.1771

GBP/USD 0.21 1.3346

RESEARCH HIGHLIGHTS:

SALVATORE FERRAGAMO cut to underperform from neutral at MedioBanca / RYANAIR cut to neutral from outperform at Credit Suisse / ZALANDO cut to hold from buy at Cheuvreux / AIRBUS raised to reduce from sell at AlphaValue

STILL TO COME:

NUMBERS: Nothing of note scheduled

UPDATES:

TODAY’S AGENDA:

AGM’s / EGM’s etc: Monti Paschi / Europcar (Shareholders Meeting)

ROADSHOWS / INVESTOR DAYS: Severn Trent (Business Update Call) / Deutsche EuroShop (Roadshow)

CONFERENCES:

MACRO:

EU: Italian Trade Balance, Euro Zone CPI, UK CBI Trends Total Orders, CBI Trends Selling Prices

US: NAHB Housing Market Index

Read More…: GLOBAL MARKETS AND NEWS ROUND-UP / OUTLOOK December 18, 2017 at 07:11AM

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