Weekly Trading Update
11.09.15 Friday Morning
China
This weekend sees the release of Chinese retail sales and industrial production figures. There has been a moderate year on year decline in china retail sales from a high of 19.9% in January 2011 to a record low in of 10% in April 2015. These figures may potentially lead to a volatile start to the week.
UK
BoE kept rates unchanged at 0.5%. The Bank of England saw only its one traditional hawk, Ian McCafferty, vote for a rate hike, with the rest of the Monetary Policy Committee choosing to keep rates unchanged.
US
A quiet week for the US indices as investors eased back into the markets after their labour day holiday, this is seen as the calm before the storm as investors anxiously await the FOMC’s rate decision.
With the FOMC set to discuss a rate hike next week on Thursday this week’s Wednesday JOLTS job openings number perhaps carried more weight than usual, favoured by Yellen, the jobs openings number soared to a record high of 5.753mm beating expectations. The JOLTS number give the green light for a rate hike, however the Fed faces external pressure from the IMF to hold rates.
Eurozone
The FTSE, CAX, DAX, were boosted on Monday due to a strong mining sector rallying on the back of jump in the price of copper. With firms such as Antofagasta and Glencore up over 6% during the session.
On Friday Germany, Europe’s largest creditor nation, raised objections to Juncker’s vision for a deeper monetary union stating that it is ‘unacceptable’ for tax payer bailouts of banks or insolvent governments. This puts Merkel’s government on a collision course with the ECB over the recapitalisation of Greek banks.
Stock of the Week: ZS Pharma
ZS Pharma is a biopharmaceutical company focused on drug development for renal, cardiovascular, liver and metabolic diseases. Actelion said to consider buying ZS Pharma in $2.5 Billion Deal, shares jumped from $66.37 to a high of $84.84.
Open (Monday)
6058.7
Close (Thursday)
6178.1
Change
1.97
High
6284.7
Low
6039.5
Open (Monday )
16044.5
Close (Thursday)
16341.5
Change
1.85
High
16695
Low
16037.5
Open (Monday)
1.518
Close (Thursday)
1.54934
Change
1.68
High
1.5476
Low
1.51709
Open (Monday)
1122.3
Close (Thursday)
1110.9
Change
-1.01
High
1125.6
Low
1100.2
Economic Diary, 13th to 18th September
Sunday 13th September
6.30am – CNY Industrial Production y/y
6.30am – CNY Fixed Asset Investment ytd/y
6.30am – CNY Retail Sales y/y
Monday 14th September
10.00am – EUR Industrial Production m/m
Tuesday 15th September
9.30am – GBP CPI y/y
9.30am – GBP Core CPI y/y
9.30am – GBP PPI Input m/m
9.30am – GBP PPI Output m/m
9.30am – GBP RPI y/y
10.00am – EUR German ZEW Economic Sentiment
10.00am – EUR ZEW Economic Sentiment
1.30pm – USD Core Retail Sales m/m
1.30pm – USD Retail Sales m/m
1.30pm – USD Empire State Manufacturing Index
2.15pm – USD Capacity Utilization Rate
2.15pm – USD Industrial Production m/m
Wednesday 16th September
9.30am – GBP Average Earnings Index 3m/y
9.30am – GBP Claimant Count Change
9.30am – GBP Unemployment Rate
10.00am – EUR Final CPI y/y
10.00am – EUR Final Core CPI y/y
1.30pm – USD CPI m/m
1.30pm – USD Core CPI m/m
3.00pm – USD NAHB Housing Market Index
3.30pm – USD Crude Oil Inventories
Thursday 17th September
9.00am – EUR ECB Economic Bulletin
9.00am – EUR Italian Trade Balance
9.30am – GBP Retail Sales m/m
1.30pm – USD Building Permits
1.30pm – USD Unemployment Claims
1.30pm – USD Current Account
1.30pm – USD Housing Starts
3.00pm – USD Philly Fed Manufacturing Index
7.00pm – USD FOMC Economic Projections
7.00pm – USD FOMC Statement
7.00pm – USD Federal Funds Rate
7.30pm – USD FOMC Press Conference
Friday 18th September
12.50am – JPY Monetary Policy Meeting Minutes
9.00am – EUR Current Account
3.00pm – USD CB Leading Index m/m
Earnings releases 13th to 18th September
Monday 14th September
N/A
Tuesday 15th September
Kingfisher PLC – Half year 2015 Earnings Release
Wednesday 16th September
Galliford Try PLC – Full Year 2015 Earnings Release
Imagination Technologies Group PLC – Trading Statement
JD Sports Fashion PLC – Half Year 2016 Earnings Release
Thursday 17th September
Premier Farnell PLC – Half Year 2015 Earnings Release
Friday 18th September
Petra Diamonds Ltd – Full Year 2014/15 Earnings Release
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