Börsipäev 26. september
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USA aktsiaturgudel tõmmati kahepäevase tõusu järel reedel hinge, mis viis S&P 500 indeksi -0,6% madalamale. Punasest sessioonist hoolimata aga õnnestus laiapõhjalisel indeksil Föderaalreservi kolmapäevase otsuse tuules liikuda nädala lõikes 1,2% kõrgemale ning positiivsest sentimendist lõikasid kasu ka Euroopa aktsiaturud (Stoxx 600 parandas viie tööpäevaga taset 2,2%).
Nii Jaapani kui ka USA keskpanga istungid aitasid juhtida investorite tähelepanu eemale makromajanduselt, mis eelmisel nädalal üldiselt häid uudiseid ei pakkunud. Eurotsooni töötleva tööstuse ja teenindussektori PMI alanemine septembris 0,3 punkti võrra 52,6 punktile viitab küll aeglase majanduskasvu jätkumisele, kuid 20 kuu madalaim tase näitab ühtlasi ka seda, et neljandasse kvartalisse sisenetakse nõrgeneva momentumiga.
Ka Ühendriikides valmistas Markiti koostatud töötleva tööstuse septembri PMI pettumuse, alanedes 0,6 punkti võrra 51,4 punktile, mis peegeldas nõrgimat ärikeskkonda alates juunist ning jäi alla ka analüütikute prognoositud 51,9 punktile.
Lisaks töötlevale tööstusele kujunesid läinud nädalal oodatust pehmemaks USA kinnisvaraturu augustikuu näitajad ning arvestades siia juurde veel jahenenud tarbimist, oli NY FED sunnitud kärpima USA majanduskasvu ootust nii kolmandaks kui ka neljandaks kvartaliks -0,5pp võrra. Kui alles augustis ulatus kolmanda kvartali SKP kasvuprognoos ligi 3%ni, siis viimase kuuga on see kahanenud 2,3%ni ja neljanda kvartali ootus libisenud 2% pealt 1,2%le, kustutades lootuse, et esimese kuue kuu ca 1% kasv oleks teisel poolaastal oluliselt paremaks osutumas.
Majandusuudiste osas üsna aktiivne nädal juhatatakse täna sisse Saksamaa ettevõtete kindlustunde indeksite ning USA augustikuu uute majade müügiga. Üsna suurt vaatajaskonda ennustatakse tänaõhtusele Hillary Clintoni ja Donald Trumpi debatile, kes suunduvad esimesse ringi küsitluste järgi väga tasavägiste toetustega.
11.00 Saksamaa ettevõtete kindlustunde indeks (september)
17.00 USA uute majade müük (august)
17.30 USA Dallas FEDi töötleva tööstuse küsitlus (september)
??.?? USA presidendikandidaatide esimene debatt -
Ei maksa rääkida rahapoliitika piiridest, sest see muudab Kuroda sõnul keskpanga jaoks eesmärkide püüdmise raskemaks
KURODA: NO BETTER OPPORTUNITY THAN NOW TO OVERCOME DEFLATION
KURODA: FLUCTUATION IN JGB BUYS HAS NO POLICY IMPLICATION
KURODA: SHAPE, LOCATION OF YIELD CURVE WILL REMAIN BROADLY SAME
KURODA: TO DO JGB BUYS MORE OR LESS IN LINE W/ CURRENT PACE
KURODA: FLUCTUATION IN JGB BUYS HAS NO POLICY IMPLICATION
KURODA: YIELD CURVE CONTROL GIVES MORE FLEXIBILITY W/ JGB BUYS
KURODA: WANTED TO SHOW BOJ'S UNWAVERING DETERMINATION TO 2% CPI
KURODA: BOJ DETERMINED IT NEEDED TO MAKE STRONG COMMITMENT
KURODA: PURSUE EASING IN MORE FORCEFUL MANNER UNDER NEW REGIME
KURODA: POLICY JUDGMENT SHOULD BE BASED ON ECON IMPACT ON WHOLE
KURODA: TO KEEP MAKING UTMOST EFFOT TO REACH PRICE TARGET
KURODA: BOJ TO RELENTLESSLY PURSUE INNOVATION
KURODA: COSTS OF POLICY SHOULD BE MINIMIZED, BENEFITS MAXIMIZED
KURODA: TALK ABOUT LIMITS TO MONETARY POLICY NOT HELPFUL AT ALL
KURODA: HAS TAKEN MORE TIME THAN EXPECTED TO OVERCOME DEFLATION
KURODA: STAND READY TO USE EVERY POSSIBLE POLICY TOOL
KURODA: CAN ACCELERATE MONETARY BASE EXPANSION IF NECESSARY
KURODA: EXPANDING ASSET PURCHASES ALSO CONTINUES TO BE OPTION
KURODA: MAIN TOOL FOR MORE EASING BE MORE CUTS IN NEGATIVE RATE -
Saksamaa ettevõtete kindlustunde indeksid peegeldavad septembris paranenud ärikliimat, kui jooksva olukorra hinnang kerkis 112,9 punktilt 114,7 punktile (oodati 112,9) ning järgmise kuue kuu väljavaate indeks 106,3 punktilt 114,7 punktile (oodati 112,9). Nende kahe indeksi baasil tõusis üldine ärikliima 106,3 punktilt 109,5 punktile (oodati 106,3), saavutades sellega kõrgeima taseme alates 2014.a
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Gapping up
In reaction to strong earnings/guidance: N/A
M&A news: CHMT +16.2% (Lanxess (LNXSF) to acquire Chemtura for $33.50/share; transaction is expected to close around mid-2017), .
Other news:
LPCN +28.5% (reports 'positive' top-line results from a Phase 2b clinical study of LPCN 1111)
ARRY +18.4% (Array Biopharma & Pierre Fabre announce Columbus phase 3 study of encorafenib plus binimetinib for BRAF-Mutant Melanoma met its primary endpoint)
GWPH +11.8% (announces 'positive' results of the Phase 3 clinical trial of its Epidiolex)
NWBO +7.1% (files for $150 mln mixed securities shelf offering)
FATE +6.1% (confirms orphan drug designation for lead product candidate Protmune)
AXON +5.4% (eceived Fast Track designation for its Investigational New Drug application for intepirdine)
VKTX +4.7% (announces the presentation of data from a proof-of-concept study of VK0214)
CRVS +4.2% (reports preclinical and preliminary clinical biomarker data of lead oral checkpoint inhibitor CPI-444)
EXEL +2.8% (announces its partner Daiichi Sankyo (DSNKY) initiated a phase 3 pivotal trial to evaluate CS-3150 )
NVAX +2.2% (cont strength following last week's 75% gain)
SRPT +1.3% (Barron's profiles positive view)
Analyst comments:
CGIX +13.6% (initiated with a Buy at Rodman & Renshaw, also enters into a strategic alliance and partnership with ApoCell)
ARIA +3.3% (initiated with a Outperform at Leerink Partners)
OSK +1.2% (upgraded to Overweight from Neutral at JP Morgan)
POT +0.6% (upgraded to Positive from Neutral at Susquehanna)
MON +0.5% (upgraded to Mkt Perform from Underperform at Bernstein)
Gapping down
In reaction to disappointing earnings/guidance: CALM -4.2%
M&A news:
BATS -2.8% (to be acquired by CBOE for $32.50 per share, confirming media reports out last week), CBOE -2.5%
PFE -1.2% (announces they will not pursue splitting Pfizer Innovative Health & Pfizer Essential Health into two, separate publicly traded companies)
Select financial related names showing weakness: BBVA -2.6%, RBS -2.3%, PUK -2%, SAN -1.8%, BCS -1.7%, CS -1.5%, IBN -1.3%, ING -1.1%, HSBC -0.8%
Other news:
PTIE -64.5% (receives a CRL from the FDA on the resubmission of its NDA for REMOXY ER)
DRRX -33.5% (announces its licensee Pain Therapeutics (PTIE) receives complete response letter from FDA for Remoxy ER extended-release capsules CII)
DB -5.2% (Angela Merkel ruled out public assistance over the weekend)
ACOR -4.7% (receives confirmation from Tribunal for redemption right regarding the shares in Biotie Therapies)
SWHC -2.5% (proposal was not selected by the Department of the Army for M9 standard Army sidearm replacement)
MOMO -1.5% (Shanghai down ~2% overnight)
Analyst comments:
IHG -4.5% (downgraded to Underweight from Equal Weight at Morgan Stanley)
LYG -3.1% (downgraded to Sell from Neutral at Goldman)
TWTR -3% (downgraded to Underperform from Perform at Oppenheimer)
NTAP -2.4% (downgraded to Sell from Hold at Deutsche Bank)
FINL -2.2% (downgraded to Neutral from Buy at Buckingham Research)
LMCA -1.6% (downgraded to Hold at Wunderlich)
DIS -0.8% (downgraded to Hold from Buy at Drexel Hamilton)
NKE -0.6% (removed from Focus List at JP Morgan)
Briefing.com -
USA uute majade müük oodatust veidi parem
US New Home Sales Aug: 609K (est 600K; rev prev 659K)
-New Home Sales (MoM) Aug: -7.60% (est -8.30%; rev prev 13.80%)
