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10.15.2019 14 new posts under Morning Note (10), CAPIS Headlines (3), International Summary (1)

International Summary

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International Summary

"CAPIS EU Close – 8/13/2019"

posted by Clayton Duff on 08/13/2019 at 12:53 pm

by Clayton Duff

08/13/2019 at 12:53 pm

Oh the power of the Tweet as global indices picked up post President Trump’s tariff delay/exclusion release.  While taking a dig that Ag products were not being purchased as implied Trump is not ramping up tariff rates post what appeared a solid call between US Trade Rep Lighthizer, Treasury Secretary Mnuchin, and Chinese Vice Premier Liu He.  Post the European close Trump said as much adding China wants to make a deal and the President wants to not weigh on Christmas shopping.  Those headlines saw indices tick higher and for the most part those gains were held into the close…(Hopefully the US retains the move up as well).

Weighing on sentiment though police in Hong Kong have stormed the HK International Airport with clashes coming across the screens.   This after German ZEW readings disappointed.  However, by day’s end all but Retail, Travel, Food, and Personal Goods closed higher.  Basic Resources led by 2% with Energy up 1.7% as Brent rallied up nearly 5%.

Ceconomy fell over 8% post its 3Q ebit loss.  The firm though retained their FY18/19 forecast even as sales for the quarter also disappointed.

German sensor-maker Paragon collapsed 40% after its subsidiary Voltabox, which it owns 60%, fell over 50%. Voltabox said ebit margins will now be down 8 to 9% in contrast to the positive 8-9% it had expected previously.

To the upside Plus500 closed up 21% on word they will repurchase up to $50M in shares.  For the 1H pretax profit fell 82% with revenue down 685 but those number met expectations.

From earlier: Henkel -7%, Swiss Life -.2%.

Tonight, watch for Industrial Production readings out of China along with Retail Sales and Property Investment.  Unless well away from expectations the Hong Kong tensions will overwelm those economic releases. Core Machine Orders are due in Japan along with Korean import/export price and their unemployment rate.  EU Industrial Production, Employment, and GDP are due tomorrow along with GDP in Germany.  French consumer inflation is out as well.

About the Author

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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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