Reporting news-flow today includes German GDP, IFO, US GDP, S&P/CS Consumer Confidence, Fed’s Discount Rate, US API Inventories, BoJ Minutes and BoE’s Carney talks.
Asian equity markets traded mostly lower following Wall Streets tame close as continued metals complex weighed on risk sentiment. Reports in the WSJ that China is to drop the limit on broker’s proprietary trading and allows for net short positions.
FTSE 100 Equity news:
Sky sources report that HSBC are looking to cut 2,000 positions from their commercial bank department, whilst UK asset managers have shown their support for HSBC to move their HQ. (Financial Times)
Shell’s Philippine unit is mulling IPO in 2016. (Bloomberg)
Companies paying dividends today:
- Close Brothers Group
- Intu Properties
- JP Morgan Emerging Markets Investments Trust
DAX Equity News:
Volkswagen’s CEO Mueller has confirmed that 90% of the vehicles in Europe have been affected by the emissions scandal have been repaired. He also states that they are aiming to have an interim investigation report prepared by the middle of December. (Bloomberg)
Adidas (DE:ADSGN) – France’s competition regulator has dropped proceedings against Adidas after they decided to permit retailers to sell its products through online channels including eBay and Fnac.com. (Bloomberg)
Allianz (DE:ALVG) – plans to withdraw from coal investments. (ZDF)
CAC News
Airbus – Philippine Airlines are in discussions with Airbus and Boeing (N:BA) to purchase up to 12 planes and will decided by end-2015. (Reuters)
In the US, equity markets closed weaker after the gains in energy were capped as crude oil retraced earlier strength after reports that the Saudi govt. are prepared to use all measures necessary to ensure a stable oil market.
Apple (O:AAPL) – is planning to set up Apple Pay into China by February 2016 after it struck deals with the big-4 state-run banks in China. (WSJ)
Xerox – Carl Ichan took a 7.13% stake in the company and stated that they are undervalued. (Bloomberg)