DAILY MARKETS BRIEF I LOCAL MARKETS

Transcription

1 DAILY MARKETS BRIEF I LOCAL MARKETS BEIRUT STOCK EXCHANGE Last Daily % YTD % Dividend % MSCI Lebanon % % Development and Reconstruction Solidere A % -9.61% Solidere B % -9.52% Banking Audi Listed % % 10.85% BLC Listed % 0.00% BOB Listed % 0.00% Byblos Listed % % 9.88% BEMO Listed % 20.77% 3.41% BLOM Listed % % 11.01% Trading RYMCO % 1.54% Industrial Holcim % 7.88% 14.83% Ciments Blancs % 26.22% MSCI LEBANON INDEX - 30 DAYS CHART LEBANESE USD SOVEREIGN CURVE Leading Dubai based banks, Emirates NBD, Emirates Islamic, Dubai Islamic Bank and Mashreq reported strong growth in first half net profits supported by gains in core banking revenues. A historic visit by President Xi Jinping of China to the UAE promises to elevate bilateral ties to the next level in politics, economy and trade. Source: Daily Star, Gulf Base GCC EQUITY INDICES Last Price Daily % YTD % Bahrain % 1.44% Kuwait % 3.52% Oman % % Qatar % 10.85% KSA % 16.97% Dubai % % Abu Dhabi % 8.11% 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 MSCI GCC INDEX - 30 DAYS CHART GCC INDICES DAILY PERFORMANCE

2 DAILY MARKETS BRIEF I EQUITY MARKETS UNITED STATES EQUITY MARKET INDICES Last Price Daily % YTD % 10D Vol Major Indices DowJones % 1.94% -0.19% S&P % 5.31% -0.45% Nasdaq % 13.78% -0.32% Sectors Indices Discretionary % 14.39% 0.41% Staples % -8.13% -1.11% Energy % 4.14% -0.02% Financials % -0.12% 0.98% Healthcare % 5.70% -0.46% Industrials % -1.77% 0.56% IT % 15.73% -0.62% Materials % -2.63% -0.59% Telecom % % -0.26% Utilities % -1.03% -0.24% Real Estate % -1.70% -3.55% S&P 500 INDEX - 30 DAYS CHART S&P 500 SUPPORT & RESISTANCE The S&P 500 Index rose for the fourth time in five sessions, closing less than 2 percent from a record high on the back of positive sentiment from an upbeat assessment of the U.S. economy from Federal Reserve Chairman Jerome Powell. European stocks gained for a second day after the Federal Reserve reassured investors it will tighten monetary policy gradually even amid solid growth in the world s largest economy. Asian equities were mixed. Japanese stocks rose while Chinese, South Korean, & Hong Kong equities witnessed a drawback. INTERNATIONAL MARKETS INDICES Last Price Daily % YTD % 10D Vol World % 0.64% -0.17% Developed % 1.84% -0.29% Emerging % -7.74% 0.03% Frontier % -9.75% 0.65% Europe % -0.70% 0.17% Latin America % -7.99% 1.25% Asia Pacific % -4.93% -0.59% INTERNATIONAL EQUITY INDICES Last Price Daily % YTD % 10D Vol EuroStoxx % -0.54% -0.10% FTSE % -0.15% 0.31% CAC % 2.54% -0.52% DAX % -1.17% -0.71% Swiss SMI % -4.73% 1.35% Nikkei % 0.09% -0.66% CSI % % -0.13% 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 % -0.61% - EUR/USD % -0.94% USD/JPY % -0.13% GBP/USD % -0.89% USD/CAD % -0.50% AUD/USD % -0.48% NZD/USD % -0.84% USD/CHF % -0.63% USD/NOK % -0.66% USD/SEK % -0.81% USD/CNY % 0.06% Major EUR Cross Rate EUR/GBP % 0.00% EUR/CHF % -0.06% EUR/JPY % -0.03% DISTANCE FROM 52 WEEKS LOW/HIGH The yuan fell to the lowest since August, raising speculation that Chinese officials are comfortable with the currency s weakness. The dollar rose after Powell said the Fed will continue gradually raising interest rates for now. The pound slid to a 10-month low after U.K. inflation data missed forecasts, casting doubts on the odds of an August interest-rate increase by the Bank of England. The yen and the Swiss franc bounced after China s commerce ministry responded to the U.S. position on steel by saying the policies violate World Trade Organization rules. 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 U.S Treasury note yields rose on Wednesday after Federal Reserve Chairman Jerome Powell s second day of testifying in front of Congress. The Federal Reserve has forecast that it will raise rates two more times in 2018, having already tightened policy twice this year. Gilts climb following soft U.K. CPI data, which saw traders trim bets on the possibility of an August rate hike by the Bank of England. Maturities across the German sovereign yield curve were little changed in Wednesday afternoon trading. 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 USD USD IG 2Y Spread vs 10Y Spread (0.0100) USD IG Spread 1.56 (0.0100) USD HY Spread 4.3 (0.0800) USD HY Spread 3.49 (0.0400) EU vs US 10Y Spread (0.0391) EU vs US 10Y Spread (0.0167) EU vs US 2Y Spread (0.0601) EU vs US 2Y Spread EM vs Benchmark Spread (0.0140) EM vs Benchmark Spread (1.700) Source: Bloomberg, Financial Times 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 prices ended higher for a second straight session Wednesday despite data that showed U.S. inventories of crude oil increased sharply last week. Gold prices steadied on Wednesday as the U.S dollar eased off a three-week high, following an earlier drop in bullion to a oneyear low. 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 % WW GRAINGER INC GWW UNITED CONTINENT UAL CSX CORP CSX NORWEGIAN CRUISE NCLH BERKSHIRE HATH-B BRK/B NORTHERN TRUST NTRS CIGNA CORP CI KLA-TENCOR CORP KLAC M&T BANK CORP MTB E*TRADE FINANCIA ETFC S&P 500 Stocks TOP 10 LOSERS Ticker Last Price Daily % CLOROX CO CLX MOLSON COORS-B TAP DENTSPLY SIRONA XRAY TWITTER INC TWTR COTY INC-CL A COTY NEWELL BRANDS IN NWL WEYERHAEUSER CO WY GENERAL MILLS IN GIS EXPRESS SCRIPTS ESRX KIMBERLY-CLARK KMB S&P 500 DISTRIBUTION S&P VOLATILITY INDEX LOSERS WINNERS LOW VOLATILITY HIGH VOLATILITY Google accused Brussels of trying to dismantle its lucrative business model for smartphones and other mobile devices as it considered asking for emergency court protection against the EU s record-breaking 4.3bn antitrust ruling. Texas Instruments announced the resignation of its chief executive, Brian Crutcher, after fewer than seven weeks in the job, owing to violations of the company s code of conduct. Netflix is taking a step into the world of audio entertainment, with a promotional channel on Sirius XM radio to showcase its growing roster of comedians. The tie-up with the US satellite radio broadcaster will promote material from the likes of Jerry Seinfeld and other comedians. Amazon s Prime Day spurred record sales on its own website and beyond this week, cementing the holiday it invented three years ago as a bright spot in the summer retail slowdown. ebay, the online marketplace in the midst of a platform revamp, on Wednesday reported upbeat quarterly earnings driven by lower tax rate but issued weak revenue guidance for the current quarter and lowered its full-year sales outlook. IBM squeezed out a 2 per cent advance in underlying revenues in its second quarter, its best performance in seven years, as it sought to win back Wall Street s support after a slow start to the year. EasyJet said on Wednesday it would file a complaint with the European Commission about air traffic controller strikes planned for next week, even as the low-cost airline raised its full-year profit guidance. Sources: Seeking Alpha, Financial Times, Reuters

7 DAILY MARKETS BRIEF I ECONOMIC DATA Banque BEMO sal KEY ECONOMIC INDICATORS Country Event Surv (M) Actual Prior Time China FX Net Settlement - Clients CNY b 143.3b 5:00 China Fujian to Sell CNY Bln 5Y Bonds 4:30 Japan Trade Balance  531.2b  721.4b - 578.3b 02:50 Japan Machine Tool Orders YoY % 9:00 Japan Trade Balance Adjusted  155.0b  66.2b - 296.8b 02:50 Japan Exports YoY 7.00% 6.70% 8.10% 2:50 Japan Imports YoY 5.30% 2.50% 14.00% 2:50 Japan BOJ Outright Bond Purchase 25 Years~ 4:10 Japan BOJ Outright Bond Purchase 10~25 Years 4:10 Japan BOJ Outright Bond Purchase 5~10 Years 4:10 United Kingdom Retail Sales Inc Auto Fuel MoM 0.20% % 11:30 United Kingdom Retail Sales Ex Auto Fuel MoM 0.10% % 11:30 United Kingdom Retail Sales Inc Auto Fuel YoY 3.50% % 11:30 United Kingdom Retail Sales Ex Auto Fuel YoY 3.70% % 11:30 United States Initial Jobless Claims 220k k 15:30 United States Leading Index 0.40% % 17:00 United Source: States Bloomberg Philadelphia Fed Business Outlook :30 United States Continuing Claims 1729k k 15:30 United States Bloomberg Economic Expectations :45 United States The Institute of World Politics (IWP) holds an event 0:00 United States Young Professionals in Foreign Policy hold an event 1:30 Head Office - Private and Corporate Banking 96 Pasteur Building, Pasteur Street, Medawar Area, P.O. Box: , 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.