Today's Topic
In a gesture of defiance to the international community, North Korea fired a ballistic missile that flew over the northern Hokkaido northern island on Friday. This is the second launch over Japan in less than a month, and the first since the sixth North Korean nuclear test and the new sanctions adopted by the United Nations. Friday's trial comes after a statement issued Wednesday in which the North Korean state agency KCNA threatened to "sink the four islands of the [Japanese] archipelago using the nuclear bomb Juche ", with reference to the ideology of North Korea. Speaking to the press on Friday,
Swiss equities
The Swiss stock market is pointing towards a receding opening in the wake of North Korean missile firing. The Swiss National Bank maintained its expansionary monetary policy and raised its inflation projections. It has not considered changing course despite the recent weakening of the franc, assured the president of the institution, Thomas Jordanñ "We see no reason to change our monetary policy for now," he told the Swiss press, adding that the franc remained overvalued. "We must wait to see if this evolution is sustainable," he continued. He said the decisions of the European Central Bank and the US Federal Reserve would play a crucial role in the future deliberations of the SNB.
Nestlé (LON:NESNCHF), the global leader in agri-food, announced the acquisition of a controlling interest in Blue Bottle Coffee, a roaster and California distributor of high-end coffee specialities. Credit Suisse (SIX:CSGN) entered into an agreement with Massachusetts Mutual Life Insurance Company for its asset-backed securities (RMBS) activities in 2007. The bank said it would record a pre-tax charge of approximately $79.5 million for the third quarter, in addition to the provisions already established. The Swiss bank Raiffeisen announced the sale of its 4% stake in Helvetia Holding AG (SIX:HELN) through an accelerated book-making process.
International Markets
Europe
The European stock exchanges have changed little Thursday, against a backdrop of Chinese data came out under estimates and a bullish message from the BoE. WM Morrison Supermarkets (LON:MRW) fell 4%, despite the publication of the seventh consecutive increase in its quarterly sales. Hermès folded 3%. The French manufacturer of luxury goods expects a slowdown in profits in the second half due to an unfavourable exchange rate. Next PLC (LON:NXT) flew by 11.5%. The British clothing brand has raised its annual sales and earnings forecasts, despite fears of a deterioration in consumer confidence. Debenhams (LON:DEB) took 1.2%, while Marks and Spencer Group (LON:MKS) won 3.9%. The automakers have had the wind in their sails,
United States
The Dow Jones signed a third closing record in a row on Thursday, as the broader market suffered from declining retail values. Equifax Inc (NYSE:EFX)., -2.35%, sold 2.4%. The stock seems set to continue the massive downturn triggered by the revelation last week of a gigantic computer hacking credit rating agency. On Thursday, the FTC said it would open an investigation into the violation.
Tracks of Lattice Semiconductor Corporation (NASDAQ:LSCC). -0.35% gained 0.4% after Trump stopped the company's ongoing buyout of chip production by a Chinese investment fund, citing national security reasons. The shares of William Lyon Hms (NYSE:WLH) -5.32% plunged 5.3% after the speculative investment fund Paulson & Co. said it would sell the shares held within the construction company of residences. Bed Bath & Beyond Inc (NASDAQ:BBBY) shares declined 1.7% after its price target was lowered by UBS from $33 to $30. Apple Inc (NASDAQ:AAPL). -0.86% shares closed below 0.9% after the company revealed information on its new iPhone line and other technology gadgets.
Asia
In Asia, the majority of the indices showed a slight decrease on Friday following the North Korean missile launch to the east. However, the impulsive reaction of buying currencies refuges to this news, fell pretty quickly. Global equity markets rallied strongly at the beginning of the week after concerns about North Korea calmed down after intensifying last weekend. However, optimism has cooled in recent days, investors playing the wait-and-see. This attitude should continue next week with the meeting of the US Federal Reserve. The poor performance in Asia was marked by the Hong Kong and Australian stock exchanges with indices falling in both markets to less than 0.6%. These markets were also affected by the decline in major banks of up to 1%. The lack of vigor of Chinese financial backers has put pressure on the Hang Seng index in Hong Kong in recent days. Lending institutions are also pushing the Singapore market down.
Borrowings
Bitcoin - many of the major Bitcoin exchange offices are preparing to interrupt their services following government instructions. BTC China, one of the three major exchange operators, officially became the first operator to apply this instruction after it announced today that it will stop transactions with customers based in China as of September 30. The company, which is China's oldest operating foreign exchange market, said other services such as the BTCC pool for mining companies will not be affected and will continue to function. No information was given on the date of resumption or the possibility of a resumption of transactions.
Analyzes
Credit Suisse: Societe Generale (PA:SOGN) raises target price to 16.5
UBS Group AG (NYSE:UBS): Societe Generale lowers target price to 18
ProLogis (NYSE:PLD): Baird sets course target to 67
Delta Air Lines (NYSE:DAL): Barclays (LON:BARC) lowers course target to 65
Honeywell International (NYSE:HON): Goldman Sachs (NYSE:GS) mounts the course target at 145
Align (NASDAQ:ALGN): Piper Jaffray sets the course target to 200