Breaking News
0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

European Market Update: Equities And Commodities Slump - April 15, 2013

By Trade The NewsMarket OverviewApr 15, 2013 06:30AM ET
www.investing.com/analysis/european-market-update:-equities-and-commodities-slump---april-15,-2013-162969
European Market Update: Equities And Commodities Slump - April 15, 2013
By Trade The News   |  Apr 15, 2013 06:30AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
Concerns over the global growth front weighs upon commodities

Notes/Observations

China GDP and industrial production undershoot forecasts as equities and commodities slump; IP data lowest since May 2009; Q1 GDP 7.7% v 8.0%e

BOJ raises all 9 regions assessment (first across-the-board upgrade since July 2012)

EU/IMF/ECB Troika confirms staff-level agreement with Greek authorities; next tranche could come in May

Commodity markets continued to come under very heavy selling pressure with long liquidation continuing; gold slumps over 4% while silver plunges 8%

Economic Data

(SG) Singapore Feb Retail Sales M/M: +3.6% v -1.2%e; Y/Y: -2.7% v -3.5%e; Ex Auto Y/Y: 10.0%e v 4.0%e

(PH) Philippines Feb Overseas Workers Remittances: $1.7B v $1.7B prior; Y/Y: 6.0% v 7.4%e

(FI) Finland Mar CPI M/M: 0.5% v 0.4%e; Y/Y: 1.7% v 1.5%e

(JP) Japan Mar Final Machine Tool Orders Y/Y: -21.5% v -21.6% prior

(IN) India Mar Monthly Wholesale Prices YY: 6.0% v 6.3%e

(CZ) Czech Feb Export Price Index Y/Y: +0.8% v -0.5% prior; Import Price Index Y/Y: -0.5% v -1.4% prior

(CZ) Czech Mar PPI (Industrial) M/M: 0.0% v 0.1%e; Y/Y: 1.0% v 1.1%e

(DK) Denmark Mar Wholesale Prices M/M: -0.6% v 0.5% prior; Y/Y: -0.4% v +1.1% prior

(FI) Finland Feb Current Account: -€160M v -€430M prior

(TR) Turkey Jan Unemployment Rate: 10.6% v 10.9%e

(EU) ECB: €575M borrowed in overnight loan facility vs. €807M prior; €119.9B parked in deposit facility vs. €108.9B prior

(NL) Netherlands Feb Trade Balance: €3.8B v €3.8B prior

(NL) Netherlands Feb Retail Sales Y/Y: -4.8% v -0.5% prior

(CZ) Czech Feb Current Account: (CZK): 27.7B v 5.2Be

(NO) Norway Mar Trade Balance (NOK): 37.7B v 33.7B prior

(EU) Euro Zone Feb Trade Balance seasonally adj: €12.0B v €9.7Be; Trade Balance unadj: €10.4B v €5.0Be

Fixed Income:

(IT) Italy BTP Italia 2017 retail bond issue order book said to top €2.9B

(NL) Netherlands Debt Agency (DSTA)sold total €2.8B vs. €2.0-4.0B indicated range in 3-month and 6-month Bills

Sold €1.46B vs. €2.0B indicated in 3-month bills; Yield: -0.027% v -0.025% prior; Bid-to-cover: 2.55x v 2.53x prior

Sold €1.37B vs. €2.0B indicated in 6-month Bills; Avg Yield: -0.011% v -0.009% prior; Bid-to-cover: 2.31x v 2.77x prior

SPEAKERS/FIXED INCOME/FX/COMMODITIES/ERRATUM

Equities

FTSE 100 -1% at 6,323, DAX -0.70% at 7,694, CAC-40 -0.80% at 3,699, IBEX-35 -0.80% at 7,972, FTSE MIB -0.90% at 15,640, SMI -0.80% at 7,699, S&P 500 Futures 0.40% at 1,575

European equity markets are broadly lower, amid the release of weaker than expected Chinese data (Q1 GDP and March industrial production), as well as sharp declines in gold and silver prices. The miner heavy FTSE 100 has led the declines in Europe, as shares of gold and silver miner Fresnillo have declined by over 8%. European banks are broadly lower, led by Credit Agricole and SocGen. During the U.S. morning session, Citigroup is due to give is Q1 earnings. Automakers in Germany have underperformed the overall DAX index, amid concerns on China's March retail sales data.

U.K. Movers [Betfair +10% (takeover talks); Ladbrokes -7% (profit warning), Ocado -6.5% (broker commentary), Tullow Oil -4.5% (unfavorable drilling update), Declines in gold and silver prices have led to sharp declines in precious metals companies (Fresnillo -8%), BHP -2.5% (decline in copper prices, China GDP data)]

Germany movers [Sky Deutschland +2.5% (broker commentary), E.ON +1.5% (broker commentary), Leoni +1% (broker commentary); BMW -1.8% (China retail sales), Continental -1.5% (cautious outlook commentary), Siemens -1.5% (cautious outlook commentary), Henkel -0.80% (cautious Q1 commentary)]

France movers [Saint-Gobain +1% (broker commentary)]

Italy movers [Lottomatica 1.5% (contract award)]

Switzerland movers [Kuehn & Nagel +1% (Q1 profits and sales rose y/y)]
European Market Update: Equities And Commodities Slump - April 15, 2013
 

Related Articles

European Market Update: Equities And Commodities Slump - April 15, 2013

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: All information provided by Trade The News, referred to as TTN or WE hereafter, is for informational purposes only. TTN does not provide investment advice nor is anything on our site a recommendation to Buy or Sell securities from TTN. Our community, which is a real-time interactive mesh of all many mediums of communications spans over 100 countries and always taken from sources deemed reliable. No guarantees or assurances can be made to the accuracy of any information provided.
Continue with Google
or
Sign up with Email