UK seen up 21 / DAX up 34 / CAC up 12 / EStoxx50 up 4

The FOMC, as expected, voted to keep the fed funds target range at 1.25%-1.50%, although, the market dialed up its expectations for a rate hike in March following the release, with the CME FedWatch Tool now placing the chances at 83.5%, up from 74.7% on Tuesday. Investors are still calling for a total of three rate hikes in 2018. In the Fed’s official statement, policymakers said near-term risks to the economic outlook appear roughly balanced, but added that officials are keeping an eye on inflation, which has been slow to pick up despite a tightening of the labor market. Fed officials expect that, with further gradual adjustments in the stance of monetary policy, economic activity will expand at a moderate pace and labor market conditions will remain strong.


Malaysia is closed today

US MARKETS (% move from European close):

Dow Jones -0.21 26149.39

S&P 500 -0.05 2823.81

Nasdaq -0.03 7411.48

VIX -4.51 13.54

The U.S. markets snapped its 2-day losing streak, albeit just, as they ended with slim gains as a little uptick just before the close brought them back into the positive. The S&P finished the day up 0.1%, little changed from the European close, while the Nasdaq also finished the day up 0.1%. 8 out of 11 S&P sectors ended in the positive led up by the real estate, up 2.1%, utility, up 1.1%, and tech, up 0.7%, sectors. Meanwhile leading to the downside was the health care, down 1.5%, consumer staple, down 0.4%, and consumer discretionary, down 0.4%, sectors. Trading volumes on the day were good and well above recent averages.


Qorvo up 8% 3Q adj EPS beats highest est / eBay up 5.7% 1Q adj EPS cont ops view midpoint beats est / Vertex Pharma up 4% to advance two triple-drug cocktails into Phase 3, 4Q rev, adj EPS beats analyst est / AT&T up 3.5% sees tax lobbying paying off with $3.4Bn more cash / Tractor Supply Co down 4.3% year EPS forecast midpoint misses / PayPal down 4% forecast falls short of est amid strong competition / Facebook down 3.5% user growth, time spent fall on news feed changes / Citrix Systems down 1.7% 1Q rev forecast trails est / Microsoft down 1.5% sales get Azure boost, tax charge causes net loss

DUE TODAY: Magellan Midstream Partners, Apollo Global, AMETEK, Time Warner, Alibaba, McKesson, Brunswick, Blackstone, Eaton, International Paper, Marsh & McLennan, Ingredion, Ferrari, AutoNation, ABIOMED, Valero Energy, Marathon Petroleum, MPLX, Baxter Int, USG Corp, Boston Scientific, Lazard, MSCI, Amgen, Senasata tech, DowDuPont, Teledyne Tech, Quest Diagnostics, Aptiv, Xylem, Altria, IDEXX Laboratories, CMS Energy, ConocoPhillips, Hershey, CME Group, Parker-Hannifin, UPS, Mastercard, Ralph Lauren, Cigna

AFTER MARKET: Alphabet, Edwards Lifesciences, Tableau Software, athenahealth, Post Holdings, Camden Properties Trust, LPL Financial, Schneider National, XL Group, Validus, DCT Ind, Visa, Cypress Semiconductor, Motorola Solutions, Amazon, Mattel, Fortune Brands Home & Security, Apple, Eastman Chemical


SHIRE down 1.5%, NORSK HYDRO down 1%, RELX down 1%, GLAXOSMITHKLINE down 1%


Nikkei 1.68 23486.11

Hang Seng -0.43 32747.02

Shanghai Comp -1.29 3435.77

Australia 0.87 6090.07

Asian markets are trading mixed so far this as Japan and Australia lead to the upside with decent gains while China leads to the downside along with HK, albeit, to a lesser extent. Data wise Japan Manufacturing PMI rose to 54.8 in Jan, highest since Feb 2014, from 54.0 in Dec. China’s Caixin/Markit manufacturing PMI for Jan came in at 51.5, vs est 51.3, which follows the 51.5 reading in Dec. Australia’s export prices were up 2.8% on quarter in Q4, vs est 2.0%, which follows the 3.0% decline in Q3. Import prices advanced 2.0% on quarter, vs est 1.5% gain, which follows the 1.6% decline in Q3. On a yearly basis, export prices were up 2.4% and import prices added 1.4%. Australia’s building approvals fell sharply in Dec by 20%, vs est 8% fall, which follows the 11.7% rise in Nov, as the number of apartments slumped 39.2%. Australia’s Performance of Manufacturing Index score came in at 58.7 in Jan, that’s up from 56.2 in Dec.

NOMURA up 2.5%

NOBEL down 6%

M & A:

– BHP BILLITON is said to be seeking to accelerate the sale of its U.S. shale unit, is prepared to offer the assets in as many as seven packages, including three in the prized Permian Basin

– SSAB placing of 37m B shares, or about 3.6% stake, Solidium is the seller, Deutsche Bank and SEB are acting as joint bookrunners

– TDC 4Q rev DKr5.05Bn, to buy MODERN TIME’S Nordic Ent for SKr19.55Bn value in cash & shares, TDC intends to increase 2018 div to DKr1.40

– SCANDINAVIAN TOBACCO buys Thompson & Co of Tampa for $62m, expected to have a positive impact on adjusted EBITDA during 2019

– DUFRY: Hudson priced IPO at $19.00 per share


– ROCHE FY sales CHf53.3Bn vs est CHf53.11Bn, core op profit CHf19.01 vs est CHf19.35Bn, core EPS CHf15.34 vs est CHf15.53, IFRS net CHf8.83Bn, FY div CHf8.30, sees 2018 sales growth stable to low-single digit range & core EPS growth to grow high-single digit constant fx

– NOVO NORDISK FY sales DKr112Bn, in line, Ebit DKr49Bn vs est DKr49.3Bn, FY div DKr7.85, sees FY sales in local fx +2% to +5% & Ebit in local fx +1% to +5%, Chairman Göran Ando won’t seek re-election, proposes Helge Lund to be elected as Chairman

– NOKIA 4Q net sales E6.7Bn vs est E6.44Bn, adj EPS E0.13 vs est E0.11, sees FY networks market growth about -2% to -4% vs about +2% to +5% previously & networks’ 2018 op margin at 6%-9% vs 8.3% in 2017, targets non-Ifrs EPS of E0.23 to E0.27 in FY18 & E0.37 to E0.42 in FY20,

– BBVA 4Q posts unexpected net profit, NII E4.6Bn vs est E4.36Bn, net income E70m vs est loss E143.5m, proposes FY final div of E0.15, CET1 fully-loaded 11.1%, bad loans ratio 4.4%

– DNB 4Q NII NKr8.86Bn, in line, net income NKr6.37Bn vs est NKr5.12Bn, CET1 ratio 16.4%, provision for loan losses NKr402m, FY div NKr7.10, new buy back program of about 8.1m shares

– MODERN TIMES 4Q net sales SKr5.31Bn vs est SKr5.1Bn, adj op profit SKr478m vs est SKr527.7m, org rev +9.7%, FY div SKr12.50 vs est SKr12.20, announced an agreement to combine Nordic Entertainment and MTG Studios with TDC GROUP

– PETROLEUM GEO-SERVICES 4Q rev $235.9m vs est $216.8m, Ebitda $122.8m vs est $107.5m, loss $194.8m vs est $81.7m loss, sees FY capex about $50m, says confident of reducing FY gross cash cost by more than $100m in 2018

– SKANSKA FY rev SKr160.8Bn vs est SKr159Bn, construction orders SKr151.8Bn, op profit SKr5.5Bn, FY div SKr8.25

– GRANGES 4Q net sales SKr2.73Bn vs est SKr2.62Bn, adj op profit SKr179m vs est SKr169.3m, FY div SKr3.00 vs est SKr2.56

– LUNDIN PETROLEUM 4Q rev $593.7m, vs est $490.9m, Ebitda $429.8m vs est $408.1m, proposes inaugural cash div of SKr4.00 & sees annual cash div of at least $350m from next year

– DASAULT SYSTEMES 2017 non-Ifrs EPS E2.68 vs est E2.61, targets 2018 non-Ifrs EPS E2.83-E2.88

– SILTRONIC FY sales E1.18Bn, in line, Ebitda E353m, Ebit E236m vs est E237.2m, sees 2018 negative fx impacts on rev around E100m & Ebitda around E60m

– YIT 4Q rev E554.3m vs est E557m, adj op profit E56.4m vs est E53.5m, proposes FY div of E0.25, in line, says not giving numerical guidance due to merger with Lemminkainen

– UNIBAIL-RODAMCO FY net rental income E1.58Bn, recurring EPS E12.05 vs est E12.04, EPRA NAV per share E211, FY div E10.80, sees medium-term recurring EPS growth 6%-8%, CFO says Paris, Frankfurt and Amsterdam are more attractive than London right now for companies making investment decisions

– BIC FY sales E2.02Bn vs est E2.06Bn, EPS E6.20, sees FY adj op margin +17% to +18%, sees 2018 group net sales up 1% to 3%

– SALVATORE FERRAGAMO FY rev E1.39Bn vs est E1.41Bn, sales at constant fx -1.4% vs est +0.2%, says 4Q decline hurt by currencies trend, lower promotional sales in primary channel

– TALKTALK & BT: Virgin Media is said to have abandoned plan to launch a cheaper service which would have competed with TalkTalk and BT’s Plusnet, Telegraph reports

– JULIUS BAER CEO says that current goals have been in place since 2015 and will be reviewed in the course of the year, but he believes growth can continue at the same pace, Boersen-Zeitung reports

– TF1 says end of distribution accords with ORANGE

– ZUMTOBEL is said to target CEO change, Sueddeutsche reports

– SOFTWARE names Sanjay Brahmawar as new CEO

– UCB says it created Syndesi Therapeutics with a syndicate of Belgian and international investors led by Novo Seeds to develop novel therapeutics for cognitive disorders

– NOVARTIS’ Kymriah overall remission rate of 81% in ELIANA trial

– KCOM holds a Capital Markets day


Per Aarsleff DKr4 / Sodexo €2.75 / Siemens €3.70


IG Group 9.69p / Vistrex 109.6p

UK 100 Total Index Points = 0.0

COMMODITY SNAPSHOT (% move from European Close):

Gold 0.02 1342.24

Copper -0.26 52800

Oil 0.76 64.78

Natural Gas -1.76 2.963

EUR/USD -0.34 1.2398

GBP/USD -0.25 1.4167


BCP double downgrade to underperform from buy at BPI / MS bearish on MTU AERO, rates new underweight / MS pushing AIRBUS, reinstated at overweight / BarCap bearish on INCHCAPE, rates new underweight / NOS cut to underweight from equal weight at BarCap / Credit Suisse bearish on AIB GROUP, rates new underperform / OUTOKUMPU cut to neutral from outperform at Credit Suisse / VIVENDI cut to hold from buy at HSBC / IMERYS raised to add from reduce at AlphaValue / ARCELORMITTAL raised to add from reduce at AlphaValue / SALVATORE FERRAGAMO cut to underperform from hold at Jefferies / IMCD raised to buy from hold at ING / STRAUMANN cut to sell from hold at Berenberg / TALKTALK raised to outperform from sector perform at RBC / STATOIL raised to neutral from sell at Goldman / GALP cut to sell from neutral at Goldman / H&M cut to neutral from outperform at Credit Suisse / PROSEGUR raised to hold from reduce at Cheuvreux / UNIPOL cut to hold from buy at Cheuvreux / SUBSEA 7 raised to neutral from sell at Goldman / DECHRA PHARMA cut to sector perform from outperform at RBC


NUMBERS: Coloplast (11am) / Luzerner Kantonalbank / Cia De Distribucion Integral / Stolt-Nielsen / UK Commercial Property Trust / Rank Group / AcadeMedia / Orsted / RD Shell / JM AB / Kesko / Daimler / Unilever / SKF (12pm)

UPDATES: Euromoney Institutional Investor / Vodafone / 3i Group / RPC / Intermediate Capital / NRJ Group / Glencore


AGM’s / EGM’s etc: Euromoney Institutional Investor

ROADSHOWS / INVESTOR DAYS: Kone (Investor Meeting) / Daily Mail & General Trust (Investor Meeting) / Gjensidige Forskiring (Roadshow) / Wacker Chemie (Roadshow) / Nordea Bank (Roadshow)


Bankhaus Lampe Conf – Deutsche Wohnen / Linde / ProSiebenSat.1 Media / Evotec Degroof Petercam Healthcare Seminar – Ablynx Erste Bank Austria & CEE Investor Conf – Vienna Ins

IMMO’18 – Zug Estates


EU: Italian, French, German, UK & Euro Zone Markit Manufacturing PMI, Italian New Car Registrations

US: Challenger Job Cuts, Nonfarm Productivity, Unit Labor Costs, Initial Jobless Claims, Continuing Claims, Bloomberg Consumer Comfort, Markit Manufacturing PMI, Construction Spending, ISM Manufacturing, ISM Employment, ISM Prices Paid, ISM New Orders

Read More… Like : GLOBAL MARKETS AND NEWS ROUND-UP / OUTLOOK February 01, 2018 at 07:09AM

Read more news on oursite:
UK news UK companies news Sterling pound news EU news EU companies news Euro news US news US companies news US Dollar news Japanese Yen news Chinese Yuan news Trading EU Shares Commodities news Crytocurrency news Major Currency Pairs Update fonecable中文版(简) fonecable中文版(繁) fonecable日文版 and more…

fcfx-hxcm-18 iqoption21349_300x250_FCFX FCFX-efx-card18-multicurrency fctech500