As earnings come in thick and fast all 3 of the major US bourses closed higher yesterday and this bullish sentiment has carried through to Asia today. The bullishness came as the BoJ announced they will not be changing their inflation target and they will be keeping the massive stimulus package which is clearly propping up markets.
In commodities markets, spot WTI gained yesterday after a draw was noted in the DOE report, this surprised markets somewhat after the API's the day before showed a build. Gold has pulled back for a second day after the USD retraced, while silver has followed suit but not to the same extent. Copper is higher by 0.34% this morning aligning with the sentiment in Asia, but it has also found a support level after falling yesterday at around $2.6920.
Big day for the EUR today as the ECB meeting concludes today; the announcement at 12.45 London time is expected to see all policy measures unchanged, so all ears are pinned to the 13.30 press conference. EUR/USD is testing back to 1.1500 again, and this was threatening through the Wednesday session, but any move under the figure will likely be contained below here as the market believes there is little the governing council can say to dissuade expectations of tapering later this year - September still earmarked.
Morning Stories:
The Chilean government has approved a $2.5 billion expansion of BHP Billiton (LON:BLT)'s Spence copper mine, a local newspaper reported on Wednesday, though the company has not yet decided whether to go ahead with the project. Oxfordshire County Council, which last week ended much of a 10-year 500 million pound ($652 million) contract with Carillion (LON:CLLN), is now looking in to the future of a facilities management deal with the crisis-hit British construction firm.
Sports Direct (LON:SPD) full-year profit down 58%...but says it's still on track to become the 'Selfridges of sport'.
Unilever (LON:ULVR) report H1 17 Earnings Results:, adj EPS: EUR1.09 (Est EUR1.05), revenue: 27.7B (Est EUR27.83B).
Bunzl (LON:BNZL) report proposed acquisition in France and purchase of business in the UK.
Anglo American (LON:AAL) post an 8% increase in copper equivalent production in the second quarter of 2017, compared to the same period of 2016. For the half year as a whole, copper equivalent production increased by 9%.
EasyJet (LON:EZJ) cite positive momentum, as ups headline profit guidance as passengers +10%, rev per seat +2.2%/
Look out for
Highlights include UK retail sales this morning and ECB monetary policy decision.