February 27th 2015

Daily Market Commentary



  • A second look at Q4 GDP in the U.S. resulted in a reading of 2.2%, above estimates of 2.1%.
  • The Gross Domestic Product Price Index in the U.S. was reportedly up 0.1% in the fourth quarter, above estimates of a 0% rise.
  • The Consumer Price Index in Germany was reportedly up 0.9% and 0.1% in month-over-month and year-over-year terms, respectively. Both figures were above estimates.
  • GDP in Portugal was reportedly up 0.5% and 0.7% in quarter-over-quarter and year-over-year terms.


  • Gold headed for its first weekly advance in more than a month on signs demand in China is picking up and as investors assess the outlook for U.S. interest rates.
  • Copper was poised for the only monthly gain among main industrial metals on the London Metal Exchange before manufacturing data from China, the world’s biggest consumer.


  • Canadian stocks were little-changed, trading at a one-week high, as Canadian Tire Corp. advanced on earnings while banks rallied after two lenders raised their dividends, offsetting a decline among oil producers.
  • Alberta’s energy producers are pivoting toward developing gas reserves rather than oil after crude lost half its value last year.
  • Loblaw said its fourth-quarter profit more than doubled and revenue climbed nearly 50%, outpacing analyst expectations as it continued to benefit from its acquisition of Shoppers Drug Mart.

United States

  • U.S. stock-index futures were little changed, with underlying equities near record highs, as investors awaited a final reading on growth to gauge the health of the economic recovery.
  • Transocean logged a $992 million charge in the fourth quarter to correct the value of its contract drilling business, amid falling demand as sharply lower oil prices have led energy companies to slash spending and shelve projects. But its fourth-quarter adjusted profit beat analysts’ expectations.


  • European stocks fell from their highest level since 2007, as a decline in chemical shares led by BASF SE outweighed better-than-expected financial results from companies including Airbus Group NV.
  • British Airways parent IAG SA said full-year earnings surged 81 percent, helped by a turnaround at Iberia and strong demand on North American routes it aims to strengthen via the purchase of Ireland’s Aer Lingus Group Plc.
  • Lloyds Banking Group Plc, Britain’s largest mortgage lender, said it will resume dividend payments after reporting its first annual profit in five years.
  • Asian stocks fell, with the regional benchmark index paring its biggest monthly advance since September 2013, as consumer shares led declines.
  • The world’s biggest retirement fund posted its largest investment gain in almost two years last quarter as it held more money in stocks and pared Japanese bonds.

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