April 27th, 2015

Daily Market Commentary



  • Import Prices in Germany were up 1% and down 1.4% in month-over-month and year-over-year terms, respectively.


  • Oil traded near the highest price since December on concern that Middle East supplies may be disrupted as Saudi Arabia expanded its military campaign in Yemen.
  • Gold rebounded from the lowest level in five weeks as conflicting U.S. data clouded the outlook for higher rates before Federal Reserve policy makers meet this week and investors boosted holdings of the metal. Silver surged.


  • Precision Drilling Corp , Canada’s largest drilling contractor, reported a 76.3 per cent drop in quarterly profit as weak oil prices curtailed activity in North America. Calgary-based Precision Drilling said it had 2,200 fewer employees on April 24 than it had at the end of 2014, when its work force stood at 7,834. (Globe)
  • Sobeys, owned by Empire Co. Ltd. of Stellarton, N.S., sealed an agreement on Saturday to buy most of the corporate food and gas retail stores and wholesale assets of Co-op Atlantic. Co-op is a network of about 170 supermarkets and convenience stores that operate under the banners Co-op, Valufoods, Village Mart and Rite Stop. (Globe)

United States

  • U.S. index futures were little changed, after equities reached all-time highs, as investors awaited the latest earnings reports and this week’s Federal Reserve meeting.
  • Applied Materials Inc. scrapped its $9.39 billion takeover bid for chip-making equipment rival Tokyo Electron Ltd., becoming the second deal to fall apart in a week after opposition by the U.S. Department of Justice.
  • Apple Inc.’s IPhone sales in China may have exceeded the U.S. for the first time in the latest quarter, thanks to brisk demand during the country’s New Year celebrations.


  • European stocks fell for the third time in four days, with Deutsche Bank AG heading for its worst drop since January.
  • HSBC Holdings Plc’s shares jumped the most in more than a year in London after a newspaper report saying the lender may spin off its U.K. consumer bank as the company pledged to review its domicile.
  • Asian stocks climbed, with the regional benchmark index extending a seven-year high on bets the government will do more to support growth.
  • The yuan slid the most in a year on bets China’s central bank will boost the supply of funds by buying local government debt and cutting interest rates.
  • ICICI Bank Ltd. shares fell to a more than six-month low after the Indian lender posted the lowest quarterly profit growth in five years as bad loans increased.

*All information is taken from Bloomberg, unless otherwise noted.