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08.21.2019 18 new Morning Note posts under Morning Note (10) and International Summary (8)

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"CAPIS EU Close – 4/12/2019"

posted by Clayton Duff on 04/12/2019 at 12:47 pm

by Clayton Duff

04/12/2019 at 12:47 pm

Markets have taken a positive view of the strong Chinese export data despite the growing trade balance with the US.  Imports fell but Aggregate financing was a trillion yuan ahead of estimates.  European indices finished near highs with a stronger US market helping sentiment.  Autos continued to lead from earlier, up nearly 2% as were Banks. Basic Resources finished 120 bps better with roughly half of the sectors higher.  Healthcare finished down just over a percent.  Of interest, the ECB is not too keen on using tiered deposit rates but may instead consider negative rates to bank via a TLTRO.

Carl Zeiss +6.6% holders viewed gains on a positive 1H and FY outlook.  EBIT margins are seen up 15-17%.

Shortsellers cleaned up on Plus500 -31% today after 1Q revs disappointed.   The firm blamed extremely subdued markets along with customers being profitable as the company makes spread-betting.

Thomas Cook slipped 4.6% on an ominous move by a creditor.  One of its lenders is looking to offload £25M in exposure on a facility due in 2022.  The offer was being made at a 30% discount.

For Monday India reports trade data with Rightmove House Price moves in the UK.

About the Author

Clayton Duff headshot
ClaytonDuffFVP,Senior International Trader

Clayton Duff joined the firm in 2008. He has worked in the industry since 1994 and held various trading and sales positions before CAPIS, including four years as a trader for First Southwest. He earned his bachelor’s degree from the University of Texas Arlington. Clayton maintains Series 3,...

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