Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

European Market Update: Italy's 6-Month Bill Yield Hits Record Low

By Trade The NewsMarket OverviewApr 26, 2013 06:11AM ET
www.investing.com/analysis/european-market-update:-italy's-6-month-bill-yield-hits-record-low-164609
European Market Update: Italy's 6-Month Bill Yield Hits Record Low
By Trade The News   |  Apr 26, 2013 06:11AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
; markets eye US Q1 Advanced GDP data

Notes/Observations

(JP) The BoJ left its Target Rate Range unchanged between 0.0-0.1% (as expected); vote was unanimous; No member proposed additional easing action; JPY currency strengthens.

Italy PDL official Berusconi: No real problems to form government led by Letta.

Italy sells 6-month Bills with an Avg Yield of 0.503% (EMU record low)


Economic Data

(SG) Singapore Mar Industrial Production M/M: 6.2% v 7.1%e; Y/Y: -4.1% v -3.0%e

(RU) Russia Narrow Money Supply w/e Apr 22nd (RUB): 7.65T v 7.53T prior

(DE) Germany Mar Import Price Index M/M: -0.1% v -0.1%e; Y/Y: -2.3% v -2.3%e

(FI) Finland Q1 House Prices: +0.7% v -0.6% prior; Y/Y: 1.9% v 2.7% prior

(FR) France Apr Consumer Confidence: 84 v 83e

(HU) Hungary Mar Unemployment Rate: 11.8% v 11.7%e

(CH) Swiss Apr KOF Swiss Leading Indicator: 1.02 v 0.98e

(EU) ECB: €2.0B borrowed in overnight loan facility vs. €5.30B prior; €111.5B parked in deposit facility vs. €114.1B prior

(SE) Sweden Apr Consumer Confidence: 5.2 v 3.9e; Manufacturing Confidence: -8 v -9e; Economic Tendency Survey: 94.1 v 96.1e

(SE) Sweden Mar Trade Balance (SEK): 6.8B v 7.1B prior

(SE) Sweden Mar Household Lending Y/Y: 4.6% v 4.6%e

(TW) Taiwan Mar Leading Index M/M: 0.4 v 0.5% prior; Coincident Index M/M: -0.3% v -0.2% prior

(EU) Euro Zone Mar M3 Money Supply Y/Y: 2.7% v 3.0%e; M3 three-month Avg: 3.0% v 3.2%e

(GR) Greece Central Bank: Mar Greece household and business bank deposits €164.1B vs. €164.0B m/m

Fixed Income

(IT) Italy Debt Agency (Tesoro) sells €8.0B vs. €8.0B indicated in 6-month Bills ; Avg Yield: 0.503% (EMU record low)v 0.831% prior; Bid-to-cover: 1.40x v 1.64x prior

SPEAKERS/FIXED INCOME/FX/COMMODITIES/ERRATUM

Equities

FTSE 100 -0.50% at 6,408, DAX -0.50% at 7,790, CAC-40 -1.2% at 3,796, IBEX-35 -1.1% at 8,274, FTSE MIB -0.70% at 16,527, SMI -0.60% at 7,855, S&P 500 Futures -0.30% at 1,577

European equity markets are broadly lower, as disappointing bank earnings have once again weighed on the Spanish IBEX-35. Equities have also declined, amid the rise seen in Italian sovereign bond yields. In terms of the ongoing ECB rate cut speculation, official Asmussen (Germany) reiterated that the impact of further rate cuts would be limited. European corporate earnings have been mixed. BASF reported better than expected results, while Spain's BBVA's earnings missed analyst expectations. Total quarterly earnings were in line and PPR's sales missed analyst expectations. Alcatel-Lucent swung to a loss in Q1. European banks are mostly lower, led by German banks. The decline in copper prices has weighed on resource related firms.
UK movers [Colt Telecom -2% (Q1 sales declined y/y), Standard Life -1.5% (CFO resigned)]

Germany [BASF +2.5% (Q1 results above ests); Loewe -32% (Q1 loss widened), SGL Carbon -1.5% (cut FY sales forecast)]

France movers [PPR -5.5% (Q1 sales below ests), Alcatel-Lucent -2% (Reported Q1 loss), EADS -1.5% (share placement), Vivendi -1% (broker commentary), Total -1% (Q1 production declined y/y)]

Spain movers [BBVA -1.5% (Q1 profits below ests as provisions rose)]

Switzerland movers [Bucher +3.5% (reaffirmed forecast)]

The Netherlands movers [USG -2.5% (Q1 results below ests)]
European Market Update: Italy's 6-Month Bill Yield Hits Record Low
 

Related Articles

European Market Update: Italy's 6-Month Bill Yield Hits Record Low

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