Alphaseeker IM | May 11, 2016 09:39
In Asia stocks were lower on Wednesday as investors feared the lack of positive signs of a sustainable recovery in China and other emerging markets. The Nikkei rose 0.1% to 16,574.06.
The USD/JPY fell on Wednesday as investors took profits after intervention warnings from Japanese officials. The dollar fell 0.4% to 108.83 yen. The euro/usd added 0.1% to $1.13810.
Oil prices fell on Wednesday as Canadian oil sand production was expected to gradually ramp up following forced closures due to wildfires, and as record crude inventories especially in the United States put pressure on markets. International Brent crude oil futures were trading at $45.49 per barrel, down 3 cents from their last settlement, while U.S. WTI crude futures were down 8 cent at $44.58 a barrel. Industry group American Petroleum Institute (API) said on Tuesday that U.S. crude inventories rose by 3.45 million barrels to a record 543.1 million barrels during the week ended May 6. Spot gold was up 0.3 percent at $1,269.20 an ounce.
In the US stocks rose across the board on last night, with a jump in oil and a rally in Amazon (NASDAQ:AMZN) helping propel the S&P 500. The S&P 500 rose 1.25% to 2,084.39. Gap (NYSE:GPS) lost 11.51% after the retailer reported a decline in sales for the fifth straight quarter. After the bell, Walt Disney Co (NYSE:DIS) posted a fiscal second-quarter report that disappointed investors and its stock fell 5%.
09:30 GMT+1 UK Manufacturing Production m/m
15:30 GMT+1 US Crude Oil Inventories
European Equity Pre-Market Earnings
Allianz (DE:ALVG) – Q1 revenue falls 6.4% to EUR 35.4bln, Q1 non-operating results increased by EUR 339mln to EUR 278mln. Co. sees FY operating profit between EUR 10-11bln and announces Korea unit to have negative impact of EUR 350mln.
E.ON (LON:0MPP) – Q1 underlying net income EUR 1.31bln vs. Exp. EUR 1.28bln. Q1 EBITDA EUR 3.07bln vs.
EDF (PA:EDF) – Q1 sales EUR 21.4bln vs. Exp. EUR 22bln. Co. confirmed 2016 targets for EBITDA.
Numericable (LON:NUM) – Q1 revenue EUR 2.57bln vs. Exp. EUR 2.59bln Q1 Adj. EBITDA EUR 851mln vs. Exp. EUR 878mln.
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Written By: Alphaseeker IM
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