Reporting news-flow today includes UK GDP, EU Economic Confidence and comments from ECB’s Linde and Knot.
Asian equity markets traded mostly lower as the US markets were closed and as gains in EU shrugged off.Chinese bourses underperformed with financials dragging the Shanghai Composite (-5%) lower after reports that Chinese CSRC launched a probe into Citic and Guosen securities, while weaker Chinese industrial profits were reported.
Chinese Industrial Profits (Oct) Y/Y -4.60% (Prev. -0.10%). (Bloomberg)
In Europe, Portugal President Silva has sworn a new government following the political crisis, adding that the new government should respoect the EU budget targets. (Bloomberg)
In the UK, the UK GfK Consumer Confidence (Nov) M/M 1 vs. Exp. 2 (Prev. 2). (Bloomberg)
FTSE 100 Equity news:
InterContinental Hotels Group – said to have sold stakes in its Kenyan division. (Bloomberg)
Rio Tinto (L:RIO) – is to expand production at its Amrun bauxite project after it approved a $1.9 bn project. (Reuters) Furthermore, it is also reported that Rio Tinto has received clearance from the NSW planning commission to expand coal mining at its Mount Thorley operations. (Bloomberg)
Companies paying dividends:
Booker Group, Dunelm Group, Kier Group (L:KIE), Morgan Advanced Materials, Provident Financial (L:PFG).
DAX Equity News:
Merck (N:MRK) – is to explore sale of Allergopharma to reduce debt which could be sold for as much as €600mln. (Bloomberg)
CAC Equity News:
Airbus – seeking to set up an aircraft parts plant in Vietnam with a major local partner. It is also reported to have pitched a new 615-seater A380 to Saudi Arabian Airlines in an attempt to secure a large order from the airline. (Bloomberg)
In the US they are closed today for Thanksgiving holiday.
WTI Crude Oil Futures weakened overnight following broad-based commodity weakness.