REVIEW OF SCHOLARSHIP
WEDNESDAY, Sept. 29, 2010
(1) SUMMARY OF THE SCENARIO:
Many stock markets in Asia closed higher, with Hong Kong and Tokyo among top gainers, after publication of economic data as the Chinese manufacturing activity, which showed a high continuity that has lasted five months, reassuring investors that the China will not face a slowdown in the short term. He also collaborated in the rise on Wall Street Tuesday, with increasing expectations that the Federal Reserve to promote a new round of quantitative easing to retrieve the slowdown in the U.S. economy.
JAPAN: In Tokyo market rose after better-than-expected Tankan Manufacturing Index of showing that the sentiment among large manufacturers in the country will have a faster pace than expected, however, companies became more cautious in their outlook for the next quarter, due to the influence of the yen and increased uncertainty about the global economy. Benefited from this session exporters and manufacturers of cars, despite the strong yen. Highlighting that subiru Shinsei Bank 5.2% after raising its net profit forecast for the fiscal year end in March 2013 to Y51 billion (forecast Y32 billion), citing aggressive cost reduction as the main reason.
CHINA: In China, Shanghai seemed not to react to the PMI data, with closing virtually unchanged (industrial activity in China accelerated for the second consecutive month, hitting its highest growth rate since April). Analysts believe that strong data should reinforce the view that Beijing would review the policy tightening implemented earlier this year. Roles of Chinese mining companies took advantage of the weakening U.S. dollar and closed higher.
EUROPE: Most European stock markets opened high, but returning back initial gains. Featured negative for shares of Swedish fashion retailer Hennes & Mauritz fell sharply after the third-quarter earnings disappointed investors of the company (23% increase in third-quarter profit, but the results were below market expectations). Highlight positive for oil giant BP which sold $ 3.5 billion of securities and to the engine manufacturer Rolls-Royce after winning an upgrade from Morgan Stanley. Economic sentiment across the euro area improved in September, rose to 103.2 from a revised reading of 102.3 in August. Economists polled by Dow Jones Newswires had forecast a drop of the index to 101.5.
(2) AGENDA OF THE MARKET:
TODAY:
BRAZIL:
15:00 - ABB (Tender Offer) of Embratel (EBTP4) to acquire shares of NET (NETC4).
USA:
11:30 - Inventories of U.S. weekly oil.
AGENDA FOR TOMORROW:
U.S.: 09:30 - Initial Claims (claims for state unemployment), final number of GDP and its deflator, 10:45 - Chicago PMI (level of industrial activity in the region).
EUROPE: Consumer Price Index - CPI (monthly indicator of consumer inflation in Europe).
UNITED KINGDOM: No provision is the disclosure of economic indicators.
GERMANY: Unemployment Rate (rate of unemployment in Germany).
(3) WORLD INDEX (7:10 a.m.):
ASIA
Australia: -0.49%
Nikkei: +0.67%
Hong Kong: +1.22%
Shanghai Composite: -0.03%
EUROPE
London - FTSE: -0.33%
Paris Cac 40: -0.25%
Netherlands: -0.23%
Frankfurt - Dax: -0.39%
Madrid IBEX: -1.03%
Zurich: -0.20%
Milan Mib: -0.35%
Moscow RTS: +0.90%
OIL
BRENT: +0.41%
WTI: +0.34%
METALLIC COMMODITIES
COPPER: +0.34%
NICKEL: +0.24%
INDEX FUTURES AMERICAN
Dow: -0.15%
S & P: -0.15%
NASDAQ: -0.10%
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