Little reaction to 'accomplishments' from the EU Leader Summit
Economic Data
Notes/Observations
UK homebuilder Redrow [RDW.UK] is lower by over 5%, as the company terminated merger talks with Bridgemere. Shares of power equipment producer Aggreko [AGK.UK] have lost over 6%, amid concerns over the firm's bad debt provisions. Electronic controls maker Spectris [SXS.UK] has gained over 7%, after releasing its Q3 sales figures. Bunzl [BNZL.UK] has lost over 3%, as the firm reporting slowing sales growth in Q3.
In Austria, energy firm OMV [OMV.AT] has declined by over 1%, after disclosing its Q3 trading update. ArcelorMittal [MT.NL] has gained over 1%, amid reports that the firm is looking to sell a stake in its Canadian iron ore unit.
In France, retailer Carrefour [CA.FR] is higher by more than 6% on reports that the company could sell its operations in Colombia for over $2.5B. Auto components manufacturer Valeo [FR.FR] is higher by over 2%, as the company reported Q3 sales and confirmed its FY guidance. Shares of BMW [BMW.DE] are higher by more than 1.5%, as the firm reaffirmed its FY targets. SMA Solar [S92.DE] is lower by more than 25%, after issuing a profit warning. Shares of equipment maker Stratec Biomedical [SBS.DE] have declined by over 14%, as the firm warned on its outlook.
Economic Data
- (RU) Russia Narrow Money Supply w/e Oct 15th (RUB): 7.21T v 7.14T prior
- (JP) Japan Aug Final Leading Index CI: 93.2 v 93.6 prelim; Coincident Index CI: 93.5 v 93.6 prelim
- (DE) Germany Sept Producer Prices M/M: 0.3% v 0.3%e; Y/Y: 1.7% v 1.6%e
- (EU) ECB: €955M borrowed in overnight loan facility v €921M prior; €256.5B parked in deposit facility vs. €261.6B prior
- (TW) Taiwan Sept Export Orders Y/Y: 1.9% v 1.9%e (first rise in 7 months)
- (EU) Euro Zone Aug Current Account Unadj: €7.2B v €14.3B prior; Current Account Seasonally Adj: €8.8B v €8.1B prior
- (IT) Italy Aug Industrial Orders M/M: 0.7% v 2.9% prior; Y/Y:-9.0 % v -4.9% prior
- (IT) Italy Aug Industrial Sales M/M: 2.9% v 1.3% prior; Y/Y: -2.6% v -5.2% prior
- (UK) Sept Public Finances (PSNCR):-€0.6B v +£4.7Be; PSNB ex Interventions: £12.8B v £13.5Be; Net Borrowing: £10.7B v £11.7Be
- (MY) Malaysia Sept CPI Y/Y: 1.3% v 1.4%e
- (IN) India sold total INR130B vs. INR130B indicated in 2020, 2025 and 2041 bonds
- (ZA) South Africa sold total ZAR800M in I/L 2025, 2038 and 2050 Bonds
Notes/Observations
- EU summit agree on having legal framework for banking union by the end of 2012
- Today (Oct 19th) marks the 25th anniversary of Black Monday Crash
- Italy sold €18B of the inflation-linked paper aimed at retail investors, the highest amount ever reaped in a single debt offering.
- UK PSNB ex Interventions was the deficit lowest reading for the month of Sept since 2008
- North Korea military vowed a "merciless military strike" upon the South without warning if anti-North Korean propaganda leaflets are distributed on Monday
- Indices: FTSE 100 flat at 5,916, DAX -0.30% at 7,414, CAC-40 -0.20% at 3,529, IBEX-35 -1.1% at 8,014, FTSE MIB -0.60% at 16,086, SMI +0.10% at 6,787, S&P 500 Futures -0.10% at 1,450.75
UK homebuilder Redrow [RDW.UK] is lower by over 5%, as the company terminated merger talks with Bridgemere. Shares of power equipment producer Aggreko [AGK.UK] have lost over 6%, amid concerns over the firm's bad debt provisions. Electronic controls maker Spectris [SXS.UK] has gained over 7%, after releasing its Q3 sales figures. Bunzl [BNZL.UK] has lost over 3%, as the firm reporting slowing sales growth in Q3.
In Austria, energy firm OMV [OMV.AT] has declined by over 1%, after disclosing its Q3 trading update. ArcelorMittal [MT.NL] has gained over 1%, amid reports that the firm is looking to sell a stake in its Canadian iron ore unit.
In France, retailer Carrefour [CA.FR] is higher by more than 6% on reports that the company could sell its operations in Colombia for over $2.5B. Auto components manufacturer Valeo [FR.FR] is higher by over 2%, as the company reported Q3 sales and confirmed its FY guidance. Shares of BMW [BMW.DE] are higher by more than 1.5%, as the firm reaffirmed its FY targets. SMA Solar [S92.DE] is lower by more than 25%, after issuing a profit warning. Shares of equipment maker Stratec Biomedical [SBS.DE] have declined by over 14%, as the firm warned on its outlook.
- FTSE 100 movers (Aggreko -6.5%, Bunzl -3%, ITV -2.8%, Evraz -2.4%, Barclays -1.6%; Johnson Matthey +1.9%, John Wood +1.3%)
- CAC-40 movers (Alstom -2.8%, STMicroelectronics -2.6%, SocGen -1.9%, Credit Agricole -1.8%, BNP -1.4%; Carrefour +7%, Vallourec +1.8%, Alcatel-Lucent +1.6%, ArcelorMittal +1%)
- DAX movers (Deutsche Bank -2.8%, Commerzbank -2.1%, ThyssenKrupp -1.6%, Infineon -1.3%, Bayer -1%; BMW +2.1%, Continental +1.3%, Volkswagen +1.1%).
- IBEX-35 movers (Bankia -7%, Sacyr -3.1%, Banco Popular -2.6%, BBVA -2.3%, Banco de Sabadell -2.3%)
- FTSE MIB Movers (Ferragamo -5.7%, Camapri -3.6%, Mediaset -3.4%, Impregilo -2.9%, Intesa -1.1%; Buzzi Unicem +1%)
- SMI movers (Credit Suisse -2%, UBS -1.8%, Julius Baer -1.7%; Roche +1%)