October, 6th 2016

Daily Market Commentary



  • Speculation about the future of European Central Bank stimulus is creating a rift in the region’s equity market. While the Stoxx Europe 600 Index was little changed on Thursday, its lenders climbed for a third day, heading for their biggest gains in a month in the period.
  • U.S. stock-index futures edged lower, after a rebound in equities, as investors awaited more evidence that the economy is strong enough to cope with higher borrowing costs.


  • Metals: Gold: 1267.78 (+$0.93, +0.07%), Silver: 17.74 (-$0.00, -0.00%); Copper: 2.1560 (-0.39%); Aluminum: 0.7592 (-0.06%); Zinc: 1.0580 (-0.43%)
  • Energy: Crude: 49.77 (-0.12%); Brent: 51.95 (+0.17%); Nat Gas: 3.02 (-0.56%)
  • OPEC members will meet next week for talks on implementing an output cut deal, with Russia joining to discuss how producers from outside the group can participate in the plan, according to Venezuela’s oil minister.


  • Canadian stocks rose for the first time in four days driven by miners and energy producers as crude advanced to near $50 a barrel and the recent plunge in gold prices leveled off.
  • The boost from Bombardier Inc.’s biggest aircraft order has vanished. The stock just posted its worst month since January as the company’s marquee jetliner suffered another setback and concern deepened about business-aircraft demand.
  • Canada’s finance department projects home sales could fall as much as 8 percent in the first year after new housing regulations are implemented, before rebounding, based on an analysis using historical data.

United States:

  • Twitter Inc. fell as much as 11 percent in extended trading following a report that Alphabet Inc.’s Google isn’t interested in buying the social-networking service.
  • Hurricane Matthew has thousands fleeing the U.S. Southeast where it’s expected to batter the coastline and threaten electricity supplies to more than 1 million people in Florida. Potential losses are seen as high as $15 billion.
  • Salesforce.com Inc. shares fell 5.8 percent Wednesday on concern the business software company may make a bid for fallen social media star Twitter Inc.
  • Wal-Mart Stores Inc. is pushing more aggressively onto Alibaba Group Holding Ltd.’s turf. The Bentonville, Arkansas-based retailer boosted its stake in China’s second-largest e-commerce website JD.com Inc., strengthening an alliance to win more market share in the world’s largest online market.


  • Alnylam Pharmaceuticals Inc. plunged late Wednesday after ending development of its late-stage experimental drug for a rare disease because of safety concerns.
  • EasyJet Plc’s annual profit fell for the first time since 2009 as a slump in the pound inflated costs and a spate of terror attacks across Europe depressed prices, revealing the challenge facing even the region’s biggest carriers amid faltering economies and a glut in capacity.
  • Japan’s government is seeking as much as 416 billion yen ($4 billion) for shares in state-owned Kyushu Railway Co. in the world’s second-largest initial public offering this year.
  • Deutsche Bank AG, indicted for colluding with Banca Monte dei Paschi di Siena SpA to conceal the Italian lender’s losses, mismarked the transaction and dozens of others on its own books, according to an audit commissioned by Germany’s regulator.
  • Samsung Electronics Co. has returned to an all-time high in Seoul just weeks after a recall of overheating-prone Note 7 smartphones that at one point shaved more than $20 billion in market value off the Korean company.

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