Börsipäev 7. juuni
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Läinud reedel võis küll selguda, et USAs loodi vähim töökohti viimase kuue aasta jooksul, kuid aktsiaturgude jätkuv ralli rekordtasemete suunas näitab, kuidas Janet Yellen on suutnud viimastel kuudel pakkuda turuosalistele täpselt seda, mida nad on tahtnud kuulda ning pettuma ei pidanud ka eile, aidates S&P 500 indeksil kerkida 0,5%. Euroopas lõpetas Stoxx 600 energia ja materjalitööstuse eestvedamisel 0,3% plussis.
Arvestades viimaste kuude oodatust pehmemaid tööturu raporteid, ei olnud üllatav näha ka FEDi tööturu tingimuste indeksi langust. Küll aga osutus 19st erinevast tööturu indikaatorist koostatud indeksi kukkumine arvatust sügavamaks, kui aprilli näit revideeriti -0,9 punkti pealt -3,4 punktile ja mais registreeriti indeksi väärtuseks -4,8 punkti, mis on madalaim tase alates 2009.a maist ning selgelt halvem kui ootas analüütikute konsensus (-0,8).
Põhjusega ütles Janet Yellen seetõttu oma eilses kõnes, et maikuu tööturu raport oli murettekitav ning tõstatab uusi küsimusi USA majandusliku väljavaate osas. Kui alles 27. mail tõdes Yellen, et intressimäär võiks lähikuudel kõrgemale liikuda, siis eile ta nõnda spetsiifiline enam polnud ning nentis vaid intressimäärade tõusmist aja jooksul, mis näitab, et rahapoliitika normaliseerimisega pole kiiret.
Turuosalised lükkasid oma intressimäära tõstmise ootust edasi juba reedel ning tundsid eilse Yelleni esinemise järel nende osas ennast mugavalt, kui juuli tõenäosust vähendati veelgi 21,2% peale varasema 26,1% asemel. Juunis on investorid intressimäära kergitamise sisuliselt välistanud (2%).
Pöörates pilgud tänasele makrokalendrile, siis suuremat huvi võiksid pakkuda Saksamaa ja Hispaania aprillikuu tööstustoodangu muutused.
09.00 Saksamaa tööstustoodang (aprill)
09.45 Prantsusmaa valitsuse eelarve tasakaal (aprill)
10.00 Hispaania tööstustoodang (aprill)
11.00 Norra tööstustoodang (aprill)
12.00 Eurotsooni esimese kvartali lõplik SKP
17.00 Kanada töötleva tööstuse PMI (mai)
22.00 USA tarbijatele väljastatud krediit (aprill) -
Saksamaa aprillikuu tööstustoodang osutus arvatust pisut paremaks, kasvades MoM 0,8% vs prognoositud 0,7% ning seda tugevamaks revideeritud baasi pealt (märtsi langus revideeriti -1,3% pealt -1,1% peale). Mullusega võrreldes kasvas tööstustoodang 1,2% (oodati 1,0%).
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Prantsusmaa valitsuse tänavune eelarve puudujääk aprilli seisuga -56,45 miljardit eurot vs 59,8 miljardit mullu samal ajal
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Hispaania tööstustoodang kasvas aprillis mullusega võrreldes 2,7%, mis osutus arvatust pisut paremaks (2,4%). PMI järgi (kollane) võiks mais kasv edasi aeglustuda.
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Bitcoin jätkab tõusu, kuid huvi näib piirduvat peamiselt Hiina investoritega
via WSJ: Two Chinese bitcoin exchanges, Huobi and OKCoin, now account for 92% of all global trade in this currency. Analysts say that fears about a sudden devaluation of the yuan and stories of scams in peer-to-peer lending platforms have led some Chinese investors to look at bitcoin. -
Eurotsooni majandus kasvas esimeses kvartalis isegi hoogsamalt kui esmapilgul hinnati: QoQ 0,6% ja YoY 1,7% (eelnevalt vastavalt 0,5% ja 1,5%).
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Deutsche Bank pakub värskes Konzepti ajakirjas välja lahendusi, kuidas Euroopa suudaks elavada majandust, võidelda põgenike kriisiga ning tõsta kindlustunnet pangandussektori vastu. How to solve Europe’s
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BofAML kliendid, kes on sisuliselt aasta algusest olnud aktsiate netomüüjad, andsid lõpuks alla
Via Zerohedge: BofAML clients were net buyers of US stocks for the first time in 19 weeks, breaking a record-long selling streak that began in mid-January. -
Gapping up
In reaction to strong earnings/guidance: GIGA +13.2%, UNFI +10.7%, VNCE +5.4%, NAV +2%, XTLY +1%, HDS +0.8%, THO +0.6%
M&A news: LDRH +63.6% (to be acquired by Zimmer Biomet Holdings (ZBH) for $37.00/share in cash), AXLL +6% (Lotte Chemical submits bid to acquire Axiall for more than $2.6 bln, according to reports)
Select financial related names showing strength: DB +2.3%, SAN +2%, ING +1.5%, BCS +1.5%, MS +1%
Select oil/gas related names showing strength: CHK +3.3%, WLL +3.2%, SDRL +2.9%, TOT +2.2%, BP +1.2%
Other news: SRPT +31.5% (discloses FDA request that Co provide dystrophin data from biopsies already obtained from the ongoing confirmatory study of eteplirsen), DCTH +21.2% (enters into security purchase agreement with an institutional investor to issue $35 mln in senior convertible notes & related common stock purchase warrants), WGBS +13.5% (enters into an exclusive distribution agreement in Japan with Takara Bio), CTIC +12.3% (presents LT follow up data for Pacritinib showing reductions in spleen volume and symptom burden), Z +10.5% (settlement agreement with News Corp), ZG +9.7% (settlement agreement with News Corp), AEHR +7.5% (announces over $4.5 mln in orders of its FOX-XP production test cell; revs from these sales are expected to continue through early 2017), RGLS +5.4% (announces top-line results from the primary endpoint analysis of one of the company's ongoing phase II studies of RG-101 for the treatment of hepatitis C virus infection), IBN +3.4% (reports of additional funding received), RDS.A +3.4% (hosts Capital Markets Day; sees better than expected synergies from BG acquisition)
Analyst comments: MRO +3.1% (initiated with a Buy at KLR Group), WDC +1.7% (upgraded to Buy from Neutral at Mizuho), CCL +1.4% (initiated with a Buy at Sterne Agee CRT)
Gapping down
In reaction to disappointing earnings/guidance: VRX -16.2%, COVS -11.6%, MIK -7.1%, SIGM -7.1%, CASY -2%
M&A news: YHOO -1.5% (Verizon (VZ) bidding ~$3 bln for Yahoo's core internet assets, according to the WSJ)
Select metals/mining stocks trading lower:AG -2.5%, GG -2.1%, NEM -2%, GDX -1.8%, VALE -1.6%, ABX -1.5%, SLV -1.3%, FCX -1.3%, IAG -1.3%, GOLD -1%
Other news: DRYS -38.6% (After filing 8k which covered previously released Q1 results and updated details regarding liquidity), ESI -20.9% (ordered by the Department of Education to enhance its finances, according to the WSJ), VBLT -11.1% (announces a 4.36 mln share registered direct offering of ordinary shares to institutional investors priced at $5.50/share), MSTX -10.2% (delays the anticipated timing for announcement of top-line data from its Phase 3 clinical study of vepoloxamer in patients with sickle cell disease), ALXN -9% (announces topline results from Phase 3 REGAIN Study of Eculizumab in patients with refractory generalized myasthenia gravis - REGAIN study missed its primary endpoint), BIIB -8.2% (reports top-line results from the Phase 2 Synergy study evaluating opicinumab missed its primary & secondary endpoints), ENVA -7.8% (announces the completion of a prelim assessment of the proposed rule regarding small-dollar loans issued on June 2nd by the CFPB, estimates rev decline of 30-40% if proposed ruling is adopted), CTLT -6.2% (launches secondary offering of 10 mln common shares by selling shareholders), TRU -3.1% (commences ~15.6 mln common stock offering by selling stockholder), TLLP -2.4% (prices upsized offering of 5,500,000 common units at $47.13 per common unit)
Analyst comments: JBL -3.1% (downgraded to Sell from Neutral at Goldman), DISCA -2.5% (downgraded to Underperform from Mkt Perform at Bernstein), RLYP -1.9% (downgraded to Underweight from Equal-Weight at Morgan Stanley), PEG -1.8% (downgraded to Underperform from Neutral at BofA/Merrill), WERN -1.5% (downgraded to Hold from Buy at BB&T Capital Mkts), GDDY -1.1% (downgraded to Neutral from Buy at Citigroup)
Briefing.com
