DAILY MARKETS BRIEF I LOCAL MARKETS

Transcription

1 DAILY MARKETS BRIEF I LOCAL MARKETS Last Daily % YTD % Dividend % MSCI Lebanon % % Development and Reconstruction Solidere A % % Solidere B % % Banking Audi Listed % % 11.18% BLC Listed % 0.00% BOB Listed % 0.00% Byblos Listed % % 9.95% BEMO Listed % 20.00% BLOM Listed % % 12.13% Trading RYMCO % 0.92% Industrial BEIRUT STOCK EXCHANGE Holcim % 13.42% Ciments Blancs % 26.22% MSCI LEBANON INDEX - 30 DAYS CHART LEBANESE USD SOVEREIGN CURVE Saudi Arabia signed deals worth $50 billion on Tuesday in the oil, gas, industries and infrastructure sectors with firms such as Trafigura, Total, Hyundai, Norinco, Schlumberger, Halliburton and Baker Hughes at the Future Investment Initiative in Riyadh. Saudi Energy Minister Khalid Al Falih assured the investment conference that the world s top crude exporter would power ahead with economic reforms. The chief executive of Saudi Aramco added the government remained committed to a partial flotation of the oil giant but that the timing would depend on market conditions and other factors. GCC EQUITY INDICES Last Price Daily % YTD % Bahrain (BB) % -0.79% Kuwait (KWSE) % 3.52% Muscat (MSM30 Index) % % Qatar (QE Index) % 20.42% KSA (TADAWUL) % 4.48% Dubai (DFM) % % Abu Dhabi (ADX) % 13.00% LOCAL/GCC FOREIGN EXCHANGE Cross Last Price Lebanese Pound Spot USD/LBP Bahraini Dinar Spot USD/BHD Kuwaiti Dinar Spot USD/KWD Omani Rial Spot USD/OMR Qatari Riyal Spot USD/QAR Saudi Riyal Spot USD/SAR UAE Dirham Spot USD/AED Source: Daily Star, Gulf Base MSCI GCC INDEX - 30 DAYS CHART GCC INDICES DAILY PERFORMANCE

2 DAILY MARKETS BRIEF I EQUITY MARKETS UNITED STATES EQUITY MARKET INDICES Major Indices Last Price Daily % YTD % 10D Vol DowJones % 1.91% -5.74% S&P % 2.51% -6.10% Nasdaq % 7.74% -8.55% Sectors Indices Discretionary % 8.43% -6.99% Staples % -4.63% -1.45% Energy % -4.36% -3.01% Financials % -7.35% -3.66% Healthcare % 9.23% -2.49% Industrials % -5.44% -5.32% IT % 11.52% % Materials % % -3.42% Com. Services % -7.41% -9.97% Utilities % 2.36% -0.02% Real Estate % -4.18% -0.87% S&P 500 INDEX - 30 DAYS CHART S&P 500 SUPPORT & RESISTANCE U.S. equities tumbled in early trading after earnings from 3M and Caterpillar disappointed investors and geopolitical tensions with Saudi Arabia increased. The S&P is lower for its fifth straight day and is on pace for its worst month since September European stocks retreated in a broad sell-off, spurred by investor anxiety about Italy, disappointing earnings, Brexit and a range of other geopolitical concerns. Asian markets slumped with major indices declining as Monday s boost to Chinese stocks was short-lived. Geopolitical tensions and some weakness in the U.S market also weighed in. INTERNATIONAL MARKETS INDICES Last Price Daily % YTD % 10D Vol World % -5.04% -2.20% Developed % -3.31% -2.89% Emerging % % 2.25% Frontier % % -0.94% Europe % -8.88% -0.19% Latin America % -4.90% -2.09% Asia Pacific % % 2.09% INTERNATIONAL EQUITY INDICES Last Price Daily % YTD % 10D Vol EuroStoxx % % -0.26% FTSE % -9.53% -0.06% CAC % -6.49% -1.14% DAX % % -0.13% Swiss SMI % -6.55% 0.40% Nikkei % -2.56% 2.33% CSI % % 2.20% DEVELOPED VS EMERGING - 30 DAYS CHART EMERGING DEVELOPED INTERNATIONAL EQUITY - 30 DAYS CHART FTSE 100 CAC 40 DAX NIKKEI 225 Source: Bloomberg, Financial Times

3 DAILY MARKETS BRIEF I FOREIGN EXCHANGE FOREIGN EXCHANGE MARKET Last Price Daily % 10D Vol 25RR Major USD Cross Rate USD Index % -0.99% - EUR/USD % -1.27% USD/JPY % -0.01% GBP/USD % -0.35% USD/CAD % -0.25% AUD/USD % -2.41% NZD/USD % -1.78% USD/CHF % -0.05% USD/NOK % -0.06% USD/SEK % -4.88% USD/CNY % -1.20% Major EUR Cross Rate EUR/GBP % -0.17% EUR/CHF % -1.02% EUR/JPY % -0.65% DISTANCE FROM 52 WEEKS LOW/HIGH The dollar fell as the S&P 500 Index attempted to recover from earlier losses following selective earnings and commentary from Federal Reserve officials. The pound gained amid reports U.K. Prime Minister Theresa May was working intensively to resolve the Irish backstop issue. The euro rose on Tuesday before a meeting of the European Commission on Italy s budget the could see Brussels take the unprecedented step of rejecting it and demanding changes. The yen held gains against its G-10 peers as weakness in global equities boosted havens. EUR/USD 30 DAYS SUPPORT & RESISTANCE Source: Bloomberg, Financial Times GBP/USD 30 DAYS SUPPORT & RESISTANCE USD/JPY 30 DAYS SUPPORT & RESISTANCE USD/CAD 30 DAYS SUPPORT & RESISTANCE

4 DAILY MARKETS BRIEF I FIXED INCOME GLOBAL BOND INDICES Yield Yield (in Bps) Benchmark Indices US 10 Years Benchmark EU 10 Years Benchmark UK 10 Years Benchmark Sovereign Bonds US Treasury Bond Eurozone Sovereign Bond Japan Sovereign Bond US TREASURIES YIELD CURVE EUR GENERIC YIELD CURVE Corporate Bonds US Corporate TR US High Yield Bond TR EUR Aggregate Corporate TR EUR High Yield TR USD Emerging Market IG & HY Benchmark U.S. Treasury yields fell to their lowest in almost three weeks on Tuesday as tumbling equity markets worldwide fed investor demand for low-risk debt. Dallas Fed President Kaplan stated yesterday that the Fed should continue gradually moving to a neutral policy. The United Kingdom s gilts surged on Tuesday ahead of the Bank of England Governor Mark Carney s speech in Toronto. The German bunds gained on Tuesday as investors awaited the country s manufacturing PMI for October while worries in Italy also buoyed demand. OVERNIGHT RATES - SWAPS Yield Yield (in Bps) 3M USD LIBOR M EUR EURIBOR M GBP LIBOR Y USD SWAP Y USD SWAP Y USD SWAP Y USD SWAP Spread (in FIXED INCOME SPREADS r Spread Bps) USD 3M vs 10Y Spread Spread Spread (in Bps) USD 2Y 3M vs vs 10Y 10Y Spread (0.0568) USD USD IG 2Y Spread vs 10Y Spread (0.0100) (0.0011) USD IG Spread USD HY Spread 4.3 (0.0800) USD HY Spread EU vs US 10Y Spread (0.0391) EU vs US 10Y Spread EU vs US 2Y Spread (0.0601) EU vs US 2Y Spread EM vs Benchmark Spread (0.0140) EM vs Benchmark Spread Source: Bloomberg, Financial Times, Reuters, Econotimes USD CORPORATES - 30 DAYS SPREAD EU VS US - 30 DAYS SPREAD

5 DAILY MARKETS BRIEF I COMMODITIES GLOBAL COMMODITIES MARKET Last Price Daily % Commodity Index % Energy WTI Crude Future % Brent Crude Future % NYMEX Gasoline % NYMEX Heat Oil % ICE Gasoil % NYMEX Natural Gas % COMMODITY INDEX SUPPORT & RESISTANCE WTI OIL 30 DAYS SUPPORT & RESISTANCE Precious Metals Gold Spot $/Oz % Silver Spot $/Oz % Platinum Spot $/Oz % Palladium Spot $/Oz % Gold Future % Silver Future % Platinum Future % Palladium Future % Base Metals LME Aluminum % LME Copper % LME Zinc % LME Nickel % LME Lead % LME Tin % Agricultural Corn CBT % Wheat CBT % Soybeans CBT % Bean Meal CBT % Rough Rice CBT % MDE Palm Oil % Soybean CBT % Coffee ICE % Sugar #11 ICE % Cotton #2 ICE % Cocoa ICE % Ethanol CME % Lumber CME % Orange Juice ICE % Live Cattle CME % Feeder Cattle CME % Lean Hogs CME % Oil in New York slid more than 5 percent in Tuesday s session as Saudi Arabia pledged to meet any supply shortfalls. Furthermore, the American Petroleum Institute reported a build of 9.98m barrels, a marked increase from the estimated 3.694m barrels. Gold continued its ascent amid the global selloff in equities and geopolitical tensions. Source: Bloomberg GOLD 30 DAYS SUPPORT & RESISTANCE SILVER 30 DAYS SUPPORT & RESISTANCE

6 DAILY MARKETS BRIEF I COMPANY NEWS S&P 500 Stocks TOP 10 WINNERS Ticker Last Price Daily % CADENCE DESIGN CDNS PULTEGROUP INC PHM MCDONALDS CORP MCD VERIZON COMMUNIC VZ ZIONS BANCORP NA ZION SYNOPSYS INC SNPS LENNAR CORP-A LEN WESTROCK CO WRK WHIRLPOOL CORP WHR SCANA CORP SCG S&P 500 Stocks TOP 10 LOSERS Ticker Last Price Daily % DISH NETWORK-A DISH CATERPILLAR INC CAT QUEST DIAGNOSTIC DGX WYNN RESORTS LTD WYNN PACCAR INC PCAR CENTENE CORP CNC MARATHON OIL MRO AVERY DENNISON AVY EQT CORP EQT EOG RESOURCES EOG S&P 500 DISTRIBUTION S&P VOLATILITY INDEX LOSERS WINNERS LOW VOLATILITY HIGH VOLATILITY Tesla CEO Elon Musk said Tuesday the company will eliminate some interior design options for the Model S sedan and Model X sport utility vehicle to simplify production at Tesla's assembly factory. Facebook is rolling out a revamped version of its chat app Messenger that simplifies its user interface. The goal of the redesign is to simplify the app, which has gone from nine different tabs to three. McDonald's shares rallied Tuesday on a better-than-expected third-quarter report, which showed a strong performance in international markets and higher spending per customer in the U.S. Shares of the company were up about 6 percent in trading Tuesday, on pace for its largest percent increase since October U.S. health-care conglomerate Johnson & Johnson said on Tuesday it will buy all outstanding shares of Japanese skincare firm Ci:z Holdings that it does not already own for 230 billion yen ($2.05 billion) in cash. Target Corp, aiming to one-up retail rivals Amazon and Walmart during the upcoming U.S. holiday shopping season, said on Tuesday it was adding more delivery and pickup options for online shoppers to have items shipped to their homes or ready for quick pick-up at local stores. SoftBank Group Corp Chief Executive Masayoshi Son, whose $93 billion Vision Fund drew nearly half its money from Saudi Arabia, canceled a speaking engagement at the kingdom s investment conference this week, Reuters reports. Sources: Seeking Alpha, Financial Times, Reuters

7 DAILY MARKETS BRIEF I ECONOMIC DATA KEY ECONOMIC INDICATORS Country Event Surv (M) Actual Prior Time Canada Bank of Canada Rate Decision 1.75% % 17:00 Eurozone Markit Eurozone Manufacturing PMI :00 Eurozone M3 Money Supply YoY 3.50% % 11:00 Eurozone Markit Eurozone Composite PMI :00 Eurozone Markit Eurozone Services PMI :00 France Markit France Manufacturing PMI :15 France Manufacturing Confidence :45 France Markit France Composite PMI :15 France Markit France Services PMI :15 Germany Markit/BME Germany Manufacturing PMI :30 Germany Markit Germany Services PMI :30 Germany Markit/BME Germany Composite PMI :30 Japan Nikkei Japan PMI Mfg :30 Japan Leading Index CI :00 United States DOE U.S. Crude Oil Inventories 3700k k 17:30 United States MBA Mortgage Applications % 14:00 United States New Home Sales 625k k 17:00 United States Markit US Manufacturing PMI :45 United States Markit US Services PMI :45 United States Markit US Composite PMI :45 United States FHFA House Price Index MoM 0.30% % 16:00 Source: Bloomberg Banque BEMO sal Head Office - Private and Corporate Banking 96 Pasteur Building, Pasteur Street, Medawar Area, P.O. Box: , Beirut - Lebanon Tel: Fax: Wealth & Investment Management research@bemobank.com Beirut Central District Riad El Solh Square, Esseily Building Bloc A, 7th Floor Beirut - Lebanon Tel: Fax: Disclaimer: This report is published for information purposes only. The information herein has been compiled from, or based upon sources considered to be reliable (Bloomberg, SeekingAlpha, DailyStar ), but we do not guarantee or assume responsibility for its completeness and accuracy. This document should not be construed as a solicitation to take part in any investment, or as constituting any representation or warranty on our part. This report is not to be relied upon in substitution for the exercise of specialists. We may not have taken any steps to ensure that the securities referred to in this report are suitable for any particular investor. The investments and services contained or referred to herein are not purported to be exhaustive, any person considering an investment should seek specialist advice on the suitability of an investment. Nothing in this report constitutes investment, legal, accounting or tax advice, or a representation that any investment or strategy is suitable or appropriate to your individual circumstances, or otherwise constitutes a personal recommendation. Clients understand that it is their responsibility to seek legal and/or tax advice regarding the legal and tax consequences of their investment transactions. The consequences of any action taken on the basis of information contained herein are solely the responsibility of the recipient. Investment instruments are subject to risk, including possible loss of principal amount invested. Past performance should not be taken as an indication or guarantee of future performance, and no representation or warranty, express or implied, is made regarding future performance. The value of securities and financial instruments is subject to exchange rate fluctuation that may have a positive or adverse effect on the price or income of such securities or financial instruments. Some investments mentioned in this report may have a high level of volatility. High volatility investments may experience sudden and large falls in their value causing losses when that investment is realized. Some investments may not be readily realizable and it may be difficult to sell or realize those investments, similarly it may prove difficult to obtain reliable information about the value, or risks, to which such an investment is exposed. This report may provide the addresses of websites or references. We have not reviewed any such site and takes no responsibility for the content contained therein. Such address or reference is provided solely for convenience and information. Accessing such website through this report shall be at the recipients own risk.