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 % % Solidere B % % Banking Audi Listed % % 10.85% BLC Listed % 0.00% BOB Listed % 0.00% Byblos Listed % % 10.02% BEMO Listed % 19.23% BLOM Listed % % 12.21% Trading RYMCO % 1.54% Industrial Holcim % 14.80% Ciments Blancs % 26.22% MSCI LEBANON INDEX - 30 DAYS CHART LEBANESE USD SOVEREIGN CURVE The Energy and Water Ministry said it has received a pledge from the Finance Ministry to allocate more funds to purchase fuel and gasoil to keep power plants running. Caretaker Energy and Water Minister Cesar Abi Khalil said in a tweet that the money would be channeled to EDL to buy more fuel. The decision will allow EDL to maintain its electricity production after the price of oil in the international market reached $80 a barrel. Saudi Arabia has announced 10 major projects and development programs worth more than $183 billion as the kingdom celebrates its 88th National Day. GCC EQUITY INDICES Last Price Daily % YTD % Bahrain % 1.48% Kuwait % 5.44% Oman % % Qatar % 14.61% KSA % 7.50% Dubai % % Abu Dhabi % 11.22% 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 Last Price Daily % YTD % 10D Vol Major Indices DowJones % 8.19% -0.79% S&P % 9.58% 0.16% Nasdaq % 15.70% 0.53% Sectors Indices Discretionary % 18.73% 0.24% Staples % -3.46% -0.04% Energy % 4.30% -0.20% Financials % 2.93% 0.34% Healthcare % 14.18% -0.57% Industrials % 5.13% -0.17% IT % 18.53% 0.33% Materials % 0.32% 0.55% Telecom % -4.34% 0.56% Utilities % 0.68% -0.30% Real Estate % 0.76% -0.54% S&P 500 INDEX - 30 DAYS CHART S&P 500 SUPPORT & RESISTANCE Stocks in the S&P 500 Index ended the session little changed as losses in financial and technology companies offset gains in telecom firms, one day after hitting a record on Thursday. European stocks opened higher Friday after U.S. markets continued to show strength. The Stoxx 600 Index rose with basic resources, autos and banks among the best-performing sectors. The FTSE 100 jumped the most since June on Friday as the pound plunged after U.K. Prime Minister Theresa May said Brexit talks were at an impasse Asian stocks recorded their biggest weekly gain in seven months amid easing trade tensions. INTERNATIONAL MARKETS INDICES Last Price Daily % YTD % 10D Vol World % 2.84% -0.13% Developed % 4.59% 0.02% Emerging % -9.24% -0.94% Frontier % % 1.78% Europe % -1.41% 0.07% Latin America % -9.94% -0.06% Asia Pacific % -4.38% -0.89% INTERNATIONAL EQUITY INDICES Last Price Daily % YTD % 10D Vol EuroStoxx % -2.09% 0.57% FTSE % -2.57% 4.37% CAC % 3.42% 0.26% DAX % -3.77% 0.55% Swiss SMI % -4.12% -1.69% Nikkei % 4.85% -3.11% CSI % % 2.91% 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 % 0.10% - EUR/USD % 0.07% USD/JPY % -0.31% GBP/USD % 0.00% USD/CAD % -0.76% AUD/USD % 0.64% NZD/USD % 0.44% USD/CHF % 0.15% USD/NOK % -0.54% USD/SEK % 0.10% USD/CNY % 0.00% Major EUR Cross Rate EUR/GBP % 0.02% EUR/CHF % -0.03% EUR/JPY % 0.04% DISTANCE FROM 52 WEEKS LOW/HIGH The pound suffered its biggest drop against the greenback since June 2017 on Friday after U.K. Prime Minister Theresa May said the Brexit negotiations were at an impasse. The yen fell to a two-month low against the dollar as Asian stocks rose on improved risk appetite. The Australian and New Zealand dollars declined with the offshore yuan as China canceled trade talks with the U.S. 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. long-dated Treasury yields slipped on Friday, in tandem with those in Europe, as Brexit negotiations stalled between the UK and the European Union. U.S. 2-year yield remained unaffected by global factors as they hit a fresh 10-year high in the run-up to an expected rate increase at next week's Federal Reserve monetary policy meeting. U.K Gilts extended gains, outperforming German Bunds and U.S Treasuries, after Prime Minister Theresa May confirmed reports that she won t change tack on Brexit and says preparations must continue for a no deal. 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 (0.0019) USD USD IG 2Y Spread vs 10Y Spread (0.0100) (0.0091) USD IG Spread 1.47 (0.0200) USD HY Spread 4.3 (0.0800) USD HY Spread EU vs US 10Y Spread (0.0391) EU vs US 10Y Spread (0.0555) EU vs US 2Y Spread (0.0601) EU vs US 2Y Spread (0.0162) EM vs Benchmark Spread (0.0140) EM vs Benchmark Spread (4.200) 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 % Crude settled slightly higher on Friday amid signs of tightening U.S output. Oil subsequently climbed on Sunday following the scheduled OPEC meeting as they signaled less urgency to boost output. Gold was lower while metal prices rallied on Friday as trade fears eased. Copper was the best performer, hitting a 12-week high. 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 % IPG PHOTONICS IPGP AMERICAN AIRLINE AAL UNDER ARMO-C UA UNDER ARMOUR-A UAA MCDONALDS CORP MCD KROGER CO KR UNUM GROUP UNM DELTA AIR LI DAL HUNTINGTON INGAL HII INTERPUBLIC GRP IPG S&P 500 Stocks TOP 10 LOSERS Ticker Last Price Daily % COPART INC CPRT TWITTER INC TWTR DARDEN RESTAURAN DRI MICRON TECH MU CHIPOTLE MEXICAN CMG INCYTE CORP INCY GENERAL ELECTRIC GE MOODY'S CORP MCO E*TRADE FINANCIA ETFC GENERAL MOTORS C GM S&P 500 DISTRIBUTION S&P VOLATILITY INDEX LOSERS WINNERS LOW VOLATILITY HIGH VOLATILITY Invesco is nearing a deal to buy OppenheimerFunds for about $5bn, an acquisition that would vault the investment group into the trillion-dollar asset management club. OppenheimerFunds owner MassMutual, a US life insurer, put the business with $248bn in funds under management up for sale earlier this year. Comcast has triumphed over 21st Century Fox and Walt Disney in the auction for Sky with a 30.6bn bid in a deal that will redraw the global media landscape. Comcast s a share bid beat a rival a share bid from Fox, which was backed by Disney, and came in the third and final round of an auction. Shares of event management and ticketing website Eventbrite soared on its market debut, ranking it 12th in terms of first trading day gains among this year s crop of listings. French retailer Casino, said on Sunday night that it had been approached over the past few days by larger rival Carrefour about a possible tie-up but its board unanimously decided to reject Carrefour s approach. An investor roadshow to promote Michael Dell s return to Wall Street has been postponed, in the latest sign that resistance from some investors could threaten his plan. Michael Dell took his PC company private five years ago and unveiled a proposal earlier this year for a return to the stock market. Abraaj s fund management rights are set to be broken up and transferred to investors including UK-based Actis, signaling an end for the group's stewardship over its emerging markets funds. 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 Canada Wholesale Trade Sales MoM 0.40% % 15:30 Eurozone ECB's Draghi Speaks at ECON Committee Meeting in Brussels 16:00 Germany IFO Business Climate :00 Germany IFO Expectations :00 Germany IFO Current Assessment :00 Germany Merkel Takes Questions at Town-Hall Event in Hanover 17:00 United Kingdom CBI Trends Total Orders :00 United Kingdom CBI Trends Selling Prices :00 United Kingdom U.K. Shadow Chancellor McDonnell Speaks in Liverpool 14:15 United Kingdom Labour Party Conference in Liverpool United States Dallas Fed Manf. Activity :30 United States Chicago Fed Nat Activity Index :30 United States Johns Hopkins University holds an event 7:00 United States Carahsoft holds an event, "Pivotal SpringOne Platform." 7:00 United States President Donald Trump's Schedule 7:00 United States Department of Health and Human Services 15:30 United States Woodrow Wilson Center holds an event 16:00 United States The Brookings Institution holds an event 16:00 United States Woodrow Wilson Center holds an event 16:00 Source: Bloomberg The National Academy of Medicine holds an United States 16:30 event United States Department of Veterans Affairs holds a meeting. 17:00 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.