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SA News • Thu, Jun. 5
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Fri, Nov. 21, 7:27 AM
- "We will do what we must to raise inflation and inflation expectations as fast as possible," Mario Draghi told a banking conference, promising faster asset purchases as needed.
- The Stoxx 50 (NYSEARCA:FEZ) is higher by 2.2%, led by a 2.4% gain in Spain (NYSEARCA:EWP) and a 2.3% advance in Italy (NYSEARCA:EWI). Germany (NYSEARCA:EWG) and France (NYSEARCA:EWQ) are up 2%, and the U.K. by 1%.
- The euro (NYSEARCA:FXE) is down 0.9% and buying $1.2432.
- ETFs: VGK, FEZ, EWP, DFE, IEV, HEDJ, EWL, EPV, EZU, EWD, NORW, EIRL, EWO, FEU, EWN, EWK, EDEN, FEP, EWGS, UPV, EURL, ENOR, ADRU, FEEU, EFNL, GERJ, DBEU, EURZ, FSZ, IEUR, FIEU, QESP, SMEZ, ESTX, HEZU, FEUZ
Thu, Nov. 20, 7:19 AM
- The Flash Eurozone Composite PMI for November falls to a 16-month low of 51.4 from 52.1 in October. For Germany, the PMI fell to its lowest since July 2013 at 50 vs. expectations of 51.5.
- Markit's Chris Williamson: "The deteriorating trend in the surveys will add to pressure for the ECB to do more to boost the economy without waiting to gauge the effectiveness of previously-announced initiatives.”
- The Stoxx 50 (NYSEARCA:FEZ) is down 1.2%, led by Spain's (NYSEARCA:EWP) 1.9% decline. Germany (NYSEARCA:EWG) is lower by 0.7%.
- ETFs: VGK, FEZ, IEV, HEDJ, EPV, EZU, FEU, FEP, UPV, EURL, ADRU, FEEU, DBEU, EURZ, IEUR, FIEU, ESTX, FEUZ, HEZU
Mon, Oct. 27, 6:14 AM
- Stocks in Italy lead European shares lower after some of the country's banks came out badly in ECB stress tests.
- Banca Monte dei Paschi di Siena collapses 17.55% after being told that it needs to raise €2.11B. The world's oldest bank is exploring its strategic options.
- And while the tests were otherwise not as bad as expected, the STOXX Europe 600 Banks index is -1.2%. "The stress test results are positive, but the real test will be on European bank lending and on this the jury is still out,” says strategist Luca Paolini.
- KPMG believes banks still face a significant challenge. "The sector remains chronically unprofitable and must address their €879B exposure to non-performing loans as this will tie-up significant amounts of capital," KPMG says.
- Euro STOXX 600 -1.2%, London -0.8%, Paris -0.4%, Frankfurt -0.5%, Milan -2.2%, Spain -1.4%.
- ETFs: VGK, FEZ, IEV, HEDJ, EPV, EZU, EUFN, FEU, GUR, FEP, ESR, UPV, ADRU, EURL, FEEU, EURZ, DBEU, IEUR, FIEU, HEZU, FEUZ, ESTX
Tue, Oct. 21, 8:01 AM
- Pushing Europe to a sizable rally and sending the euro lower, Reuters says the ECB could decide as soon as this year to begin buying corporate bonds on the secondary market. The move would be an expansion of the ABS buying program launched this week.
- "The pressure in this direction is high," says Reuters' source.
- The Stoxx 50 (NYSEARCA:FEZ) is up 1.1% and the euro (NYSEARCA:FXE) lower by about 100 pips since the news, now down 0.3% at $1.2765.
- Board Europe equity ETFs: VGK, FEZ, IEV, HEDJ, EPV, EZU, FEU, FEP, UPV, ADRU, FEEU, EURL, DBEU, EURZ, IEUR, FIEU, HEZU, ESTX
- Euro ETFs: FXE, EUO, ERO, DRR, EUFX, ULE, URR
Wed, Oct. 15, 9:44 AM
- Europe's Stoxx 50 (NYSEARCA:FEZ) is lower by 3.5%, led by a 3.7% and 3.6% declines in Italy (NYSEARCA:EWI) and Spain (NYSEARCA:EWP), respectively.
- Germany (NYSEARCA:EWG) is down 3% and France down 3.5%.
- In what may go down as one of the more notorious cases of herd behavior ever, traders have been buying the government paper of Europe's periphery with the same fervor as that of the core. That's changing today, and Italian and Spanish sovereign yields are on the rise as those in Germany tumble to new record lows.
- ETFs: VGK, FEZ, IEV, HEDJ, EPV, EZU, FEU, FEP, UPV, ADRU, FEEU, EURL, DBEU, EURZ, IEUR, FIEU, HEZU, ESTX
Tue, Oct. 14, 5:21 AM
- The German ZEW survey of investor confidence has unexpectedly dropped into negative territory for the first time in almost two years, tumbling to -3.6 in October from 6.9 in September and missing expectations of 1.
- The current situation print has slumped to 3.2 from 25.4, falling short of consensus of 18.
- Sentiment for the eurozone plunged to 4.1 from 14.2 and missed forecasts of 7.1.
- "Geopolitical tensions and the weak economic development in some parts of the Eurozone, which is falling short of previous expectations, are a source of persistent uncertainty," says ZEW President Professor Clemens Fuest. "These factors are tarnishing growth expectations in Germany. Disappointing figures concerning incoming orders, industrial production, and foreign trade have likely contributed to the growing pessimism among financial market experts." (PR)
- The DAX is -0.5% and the euro is -0.8% at $1.2653.
- European ETFs: FXE, VGK, EUO, FEZ, ERO, IEV, HEDJ, EU, EPV, EZU, DRR, FEU, FEP, EUFX, UPV, ULE, ADRU, URR, FEEU, EURL, EURZ, DBEU, IEUR, FIEU, ESTX, HEZU
- German ETFs: EWG, EWGS, DBGR, BUNL, DXGE, GERJ, FGM, GGOV, BUNT, QDEU, HEWG
Mon, Oct. 13, 5:26 AM
- Major European stock indices are higher after recovering from earlier losses as sliding oil prices (-1.4% today) help to boost airline stocks.
- Another reason for the rise in equities, traders say, is that investors are buying into indexes on indications that they have dropped into technically "oversold" territory.
- London +0.1%, Paris +0.5%, Frankfurt +0.5%, Milan +0.6%, Madrid +0.7%.
- Earlier: Asian stocks drop
- ETFs: VGK, FEZ, IEV, HEDJ, EPV, EZU, FEU, FEP, UPV, ADRU, FEEU, EURL, EURZ, DBEU, IEUR, FIEU, HEZU, ESTX
Thu, Sep. 4, 8:46 AM
- The ECB cut its growth forecast for the EU for 2014 and 2015, says Mario Draghi at his post-meeting press conference, but raised its outlook for 2016. Inflation is seen at lower-than-expected levels in the coming months before increasing gradually in 2016.
- The central bank, says Draghi, will start to purchase a broad portfolio of euro-denominated covered bonds and also begin to buy ABS, with further details coming in October. It sounds like the Germans are on board: "Should it become necessary, the Governing Council is unanimous in using additional measures."
- The Stoxx 50 is now higher by 1.5% and the euro lower by 1% to $1.3015.
- ETFs: FXE, VGK, EUO, EWG, FEZ, EWP, ERO, IEV, HEDJ, EPV, EZU, EWQ, DRR, FEU, FEP, UPV, EUFX, ULE, DBGR, ADRU, DXGE, FEEU, URR, EURL, FGM, EURZ, DBEU, QDEU, IEUR, FIEU, HEWG, QESP
- Previously: Euro tumbles, stocks gain as ECB cuts rates
Thu, Sep. 4, 7:56 AM
- The euro is lower by 0.8% to $1.3042 following the ECB cutting benchmark rates by 10 basis points across the board.
- Up marginally before the decision, the Stoxx 50 (NYSEARCA:FEZ) is now ahead by 1%, led by Italy's (NYSEARCA:EWI) 1.1% gain.
- There was no talk of any asset purchase program in the ECB statement, but Mario Draghi's press conference at 8:30 ET could hold more clues.
- Previously: ECB cuts rates by 10 basis points
- ETFs: FXE, EUO, ERO, DRR, EUFX, ULE, URR
- ETFs: VGK, FEZ, IEV, HEDJ, EPV, EZU, FEU, FEP, UPV, ADRU, FEEU, EURL, EURZ, DBEU, IEUR, FIEU
Thu, Jun. 5, 8:42 AM
- Seemingly setting the stage for QE, Mario Draghi - beginning his post-ECB policy meeting press conference - says the central bank wii stop sterilizing its previous bond purchases made under the Securities Market Program (SMP).
- "The governing council is committed to using unconventional measures if there is too long a period of too low inflation." Among the moves are targeted LTROs and purchases of asset-backed securities.
- The Stoxx 50 (FEZ) is ahead 1.5% now, and the euro -0.7%.
- ETFs: FXE, VGK, EUO, FEZ, ERO, IEV, EPV, EZU, HEDJ, DRR, FEU, FEP, UPV, ULE, EUFX, ADRU, URR, FEEU, EURL, EURZ, FIEU, DBEU
- Also with their tail in the air are U.S. futures, the S&P 500 (SPY) up 0.4% after being flat earlier, and U.S. Treasury yields - the 10-year jumps to 2.64% from 2.57% earlier.
- ETFs: SPY, SH, TBT, TLT, SSO, SDS, VOO, IVV, SPXU, UPRO, TMV, SPXL, RSP, TBF, RWL, EPS, EDV, TMF, TTT, ZROZ, SBND, TLH, BXUB, DLBS, VGLT, UBT, TLO, SFLA, SPLX, BXUC, TENZ, LBND, TYBS, SPUU, DLBL
- Previously: ECB goes negative
Thu, Jun. 5, 7:55 AM
- The Stoxx 50 (FEZ) is up 0.8% after being about flat ahead of the ECB rate decision, at which the central bank cut all three of its benchmark rates, including taking the deposit facility rate into negative territory.
- Italy (EWI) with a 1.3% gain and France (EWQ) ahead 1% lead the way.
- The euro (FXE) tumbles about 40 pips, now off 0.3% on the session and buying $1.3563.
- Europe equity ETFs: RSX, VGK, EWG, FEZ, GREK, EWP, EWI, DFE, RUSL, IEV, RSXJ, EWL, ERUS, EWU, RUSS, EPV, EZU, EWD, HEDJ, NORW, EWQ, EPOL, EIRL, PLND, EWO, RBL, GXF, EWN, FEU, EWK, FDD, EWGS, FEP, EDEN, UPV, EWUS, DBGR, PGAL, ADRU, ENOR, GERJ, DXGE, FEEU, FGM, EURL, FKU, EFNL, EUDG, DXPS, FSZ, EURZ, FIEU, RUDR, DBEU, HEWG, DBUK
- Euro ETFs: FXE, EUO, ERO, DRR, EUFX, ULE, URR
- ECB chief Mario Draghi's press conference begins at 8:30 ET.
Tue, May. 13, 7:11 AM
- Germany's Bundesbank is willing to support significant ECB stimulus if the latter's inflation forecasts for the period through 2016 are lowered, the WSJ reports.
- Measures could include a negative rate on bank deposits and purchases of packaged bank loans as the Bundesbank lends its weight to the battle to stop low inflation becoming permanent and even becoming deflation. However, the bank is still resistant to large-scale purchases of public and private debt.
- Still, the Bundesbank's readiness to counter stimulus marks a departure from its traditionally strong opposition to such action.
- ETFs: FXE, VGK, EUO, FEZ, ERO, IEV, EU, EPV, EZU, HEDJ, DRR, FEU, FEP, UPV, EUFX, ULE, ADRU, FEEU, URR, EURL, EURZ, FIEU, DBEU
Wed, Apr. 23, 4:17 AM
- Eurozone flash manufacturing PMI has increased to 53.3 in April from 53 in March and topped consensus that was also 53.
- Services has risen to a 34-month high of 53.1 from 52.2 and vs 52.4.
- Composite output has climbed to a 35-month high of 54 from 53.1 and vs 53.1.
- Manufacturing output has increased to 56.5 from 55.6.
- The growth was led by Germany, while France stabilized.
- The data indicates that eurozone GDP is on course to rise 0.5% in Q2 following 0.4% growth in Q1.
- The bloc experienced a return to job creation, says Markit, suggesting that companies believe "that the recovery has legs and is looking increasingly sustainable." However, Markit warns of "growing fears that deflationary pressures are intensifying."
- The euro rises further, having gained a boost from German PMI, and is +0.25% at $1.3839. (PR)
- ETFs: FXE, VGK, EUO, FEZ, ERO, IEV, EU, EPV, EZU, HEDJ, DRR, FEU, FEP, UPV, EUFX, ULE, ADRU, FEEU, URR, EURL, EURZ, DBEU, FIEU
Wed, Mar. 26, 5:34 AM
- European equities follow Asian shares higher amid expectations that the ECB and China may launch further stimulus, and following positive U.S. economic data yesterday.
- "Concerns around the three C's (cold, Crimea, China) are dropping off," says market strategist Evan Lucas, "as the effect of the U.S. winter subsides, the Crimean conflict is no longer affecting markets, and China has seen stimulation bets ramping up.
- Euro Stoxx 50 +1.1%, London +0.4%, Paris +0.9%, Frankfurt +1%, Milan +0.6%, Madrid +0.9%.
- U.S. stock futures: Dow +0.2%. S&P +0.2%. Nasdaq +0.3%
- ETFs: VGK, FEZ, IEV, EPV, EZU, HEDJ, FEU, FEP, UPV, ADRU, FEEU, EURL, EURZ, DBEU, FIEU
Mon, Mar. 24, 4:42 AM
- German flash manufacturing PMI has dropped to 53.8 in March from 54.8 in February and missed consensus of 54.7.
- Services fell to 54 from 55.9 and vs 55.8.
- Manufacturing output declined to 57 from 57.4.
- Composite output dropped to 55 from 56.4.
- Staffing rose for a fifth straight month, although "the increase was largely driven by hiring efforts at service providers," says Markit, "while manufacturing firms only reported a fractional rise in workforce numbers."
- Still, the data points to GDP growth of up to 0.7% in Q1, Markit says.
- The euro comes back down after jumping a bit following the French PMI and is flat at $1.3795. The DAX is -0.45%. (PR)
- ETFs: FXE, VGK, EUO, EWG, FEZ, ERO, EU, IEV, EPV, EZU, HEDJ, DRR, FEU, BUND, FEP, EUFX, UPV, ULE, DBGR, DXGE, BUNL, ADRU, URR, FEEU, FGM, GGOV, EURL, BUNT, EURZ, DBEU, FIEU, HEWG
Mon, Mar. 24, 4:11 AM
- French flash manufacturing PMI has climbed to a 33-month high of 51.9 in March from 49.7 in February and topped consensus of 49.8.
- Services rose to 51.4 from 47.2 and vs 47.9.
- Manufacturing output grew to 52.8 from 50.8.
- Composite output increased to 51.6 from 47.9.
- "Improving conditions both at home and abroad were reported to have contributed to expansion, although there was further evidence that price discounting had been necessary to support sales," says Markit.
- The euro takes a jump and is +0.2% at $1.3822, while the CAC 40 (EWQ) is -0.2%. (PR)
- ETFs: FXE, VGK, EUO, FEZ, ERO, EU, IEV, EPV, EZU, HEDJ, DRR, FEU, FEP, EUFX, UPV, ULE, ADRU, URR, FEEU, EURL, EURZ, DBEU, FIEU
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