Daily Market Commentary
- Housing starts in Canada were reported at 183.6K, below estimates of 200K.
- A survey of investor confidence for the Eurozone was reported at -11.9, above estimates of -13.5.
- The consumer price index in China was reportedly up 0% and 1.6% in month-over-month and year-over-year terms, respectively.
- Brent crude rose to the highest in a week as Chinese exports exceeded economists’ forecasts, signalling support for the second-biggest oil user. West Texas Intermediate gained in New York.
- Gold fell in London, after climbing the most in more than four months, on expectations that U.S. borrowing costs will increase as the economy strengthens.
- Natural gas futures advanced for a 10th day, the longest run of gains in more than 14 years, amid forecasts for a blast of polar weather.
- China and Russia deepened their energy ties with a second blockbuster deal that lessens Russian reliance on Europe and would secure almost a fifth of the gas supplies China needs by the end of the decade.
- BlackBerry Ltd. Chief Executive Officer John Chen said he’s interested in partnerships to expand in China, the world’s largest smartphone market, after meeting the heads of Xiaomi Corp. and Lenovo Group Ltd.
- Canada’s federal government selected a joint venture between Johnson Controls Inc. and Brookfield Property Partners LP to manage property under eight-year contracts valued at about C$9.6 billion ($8.5 billion). Brookfield Johnson Controls Canada LP will replace SNC- Lavalin Group Inc. of Montreal, whose agreement with the government expires March 31.
- Canadian Solar Inc. will provide 4 megawatts of energy storage to support Ontario’s power grid.
- U.S. stock-index futures were little changed, after the Standard & Poor’s 500 Index posted a third weekly gain, as investors watched corporate results.
- Janus Capital Group Inc. saw more than $1 billion of estimated net deposits into two bond mutual funds in October after hiring star bond manager Bill Gross.
- American Airlines Group Inc. flight attendants narrowly rejected a contract that would have made them the best paid in the U.S. industry, an early labor defeat less than a year after the merger with US Airways.
- Uber Technologies Inc. is in fundraising mode again to bring in about $1 billion to finance its rapid international expansion, said people familiar with the situation.
- European stocks advanced, after posting a weekly decline, as investors weighed better-than- expected corporate results from companies including Carlsberg A/S.
- Russia’s economy will probably stagnate next year, the central bank said in the broadest official acknowledgment of the damage wrought by sanctions over Ukraine and a slump in oil prices.
- Walgreen Co. is debuting bonds in Europe as the U.S. drugstore group completes a $15.3 billion acquisition of the portion of Alliance Boots Holdings GmbH it doesn’t already own.
- Asian stocks rose as regulators said a stock-trading link between Hong Kong and Shanghai will start next week. Equities in Tokyo fell as the yen strengthened.
- Boeing Co. won an $8.5 billion order from Japanese lessor SMBC Aviation Capital Ltd. as Asian aircraft-leasing companies bet on demand for new planes to serve the region’s travel growth.
- The U.S., Japan and other nations yet to join China’s proposed $50 billion Asia regional bank shouldn’t fear the competition it will bring, Australian Prime Minister Tony Abbott said, while calling for the new institution to be more mutliateral.
*All information is taken from Bloomberg, unless otherwise noted.