Asian equity markets traded mostly lacklustre as the FOMC-fuelled momentum began to wane in the region despite the strong lead from Wall St where the S&P 500 rallied to fresh all-time highs and the energy sector outperformed on further oil advances. ASX 200 (-0.6%) and Nikkei 225 (-0.9%) were both lower although downside was stemmed for most the session by strength in energy and commodity-related stocks after WTI gained around 6% and gold broke above USD 1400/oz for the first time since September 2013, while South32 was among the notable gainers in Australia after it received a couple of bids for its coal assets. Chinese markets were mixed with the Hang Seng (-0.2%) subdued after further disruptions from protesters discontent the extradition law wasn’t fully withdrawn by their set deadline and who also demanded that all charges against those involved in last week’s protests are dropped. Conversely, the Shanghai Comp. (+0.6%) bucked the trend and rose above the 3,000 level after the PBoC’s liquidity efforts resulted to a net injection of CNY 285bln for the week and with US-China trade negotiating teams said to meet as early as Tuesday.
Vodafone (VOD LN)/ BT (BT/A LN) – UK mobile phone operations have been accused of attempted price fixing and collusion as part of a GBP 1bln High Court case. (Telegraph)
OTHER UK COMPANIES
HSBC (HSBA LN) DOWNGRADED TO EQUAL WEIGHT FROM OVERWEIGHT AT MORGAN STANLEY
WIER GROUP (WEIR LN) DOWNGRADED TO HOLD FROM BUY AT LIBERUM CAPITAL
Deutsche Bank (DBK GY) – Co. executives reportedly expect US regulators to continue imposing restrictions on its US business following stress tests. The executives are hopeful that the Co. will receive a conditional pass in US stress test, according to sources. (Newswires)
OTHER GERMAN COMPANIES
NATIXIS (KN FP) DOWNGRADED TO HOLD FROM BUY AT HSBC
Sanofi (SAN FP) – Co. and Regeneron (REGN) have announced positive top-line Phase II results for IL-33 antibody in Asthma. (Newswires)
Renault (RNO FP) – Nissan (7201 JT) has announced Renault CEO as a nominee for the audit committee member position, whilst chairman of Renault has been nominated for the vice-chair position on board. (Newswires)
OTHER FRENCH COMPANIES
EDF (EDF FP) – Co. has estimated that the repairs needed on faulty weldings at its Flamanville nuclear reactor could be done by 2022 before its start-up. (Newswires)
Ubisoft (UBI FP) – Guillemot Brothers intends to remain a long-term reference shareholder of the Co. (Newswires) For reference Guillemot Brothers own 17.8% of the Co.
ELIOR (ELIOR FP) UPGRADED TO BUY FROM NEUTRAL AT GOLDMAN SACHS
Telecom Italia (TIT IM)/ Enel (ENEL IM) – Cos have signed a non-disclosure agreement to start talks over the potential integration of TIM and Open Fiber networks, including a possible merger. (Newswires)
OTHER SWISS COMPANIES
SIKA (SIK SW) INITIATED BUY AT CITIGROUP
* S&P 500 1% at 2954, NASDAQ-100 0.9% at 7738, Dow Jones 0.9% at 26754,SECTORS: Consumer Discretionary 0.7%, Consumer Staples 0.8%, Energy 2.2%, Financials 0.5%, Health Care 0.4%, Industrials 1.6%, Information Technology 1.4%, Materials 1.2%, Telecommunication Services 0.6%, Utilities 0.5%.