March 26th, 2015

Daily Market Commentary



  • The Markit Services PMI was reported at 58.5, above estimates of 57.
  • The EIA Natural Gas Storage Change was reported at 12B, above estimates of 10B.
  • Initial Jobless Claims in the U.S. were reported at 282K, below estimates of 290K.
  • Continuing Jobless Claims in the U.S were reported at 2.416M, slightly above estimates of 2.403M.


  • Gold climbed above $1,200 an ounce as speculation increased that the Federal Reserve may keep rates lower for longer. Silver gained.
  • Oil climbed to the highest in more than two weeks in London as Saudi Arabia and its allies bombed rebel targets in Yemen, which is near the centre of global energy trade.


  • Barrick Gold Corp. Executive Chairman John Thornton wants his executives to have skin in the game. To do that, he’s rolling out a Wall Street-style partnership to give them significant stakes in the world’s largest gold producer.
  • Canada’s premiers are nearing a deal aimed at clearing a path for pipeline projects in exchange for new environmental commitments, such as potential pledges to cut greenhouse gas emissions, people familiar with the talks say.
  • Bombardier Inc. plans to upgrade the regional jets that have been neglected during the company’s struggle to build its biggest-ever plane, the CSeries.

United States

  • Lululemon Athletica Inc., the yoga-wear retailer, reported fourth-quarter earnings that topped analysts’ estimates as winter clothes drew customers during the holiday season.
  • A Schlumberger Ltd. unit agreed to plead guilty to charges that it traded with Iran and Sudan and to pay more than $232 million for violating U.S. sanctions.
  • RadioShack Corp.’s proposal to sell its biggest shareholder more than 1,700 store leases is headed to court against opposition from a lender that stands to lose millions if a bankruptcy judge lets the deal go through.


  • European Stocks and U.S. stock-index futures fell, signalling the Standard & Poor’s 500 Index will drop for a fourth day, as Saudi Arabia and its allies started bombing Shiite rebels in Yemen.
  • U.K. retail sales rose more than economists forecast in February as tumbling inflation boosted consumer confidence.
  • Swiss chemical maker Clariant AG gained the most since Sept. 2011 in Zurich trading after the Financial Times reported that German rival Evonik Industries AG is examining a takeover bid.
  • Telefonica SA filed to sell about 3.05 billion euros ($3.4 billion) in new stock to help fund its purchase of Brazilian broadband provider GVT.
  • Asian stocks retreated from an almost eight-month high as technology companies led losses.
  • India raised a record 1.1 trillion rupees ($18 billion) in an auction of mobile phone airwaves as the nation’s carriers bid to protect their businesses from Mukesh Ambani’s upstart operator.

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