September 14th, 2015
Daily Market Commentary
- Industrial Production in the Eurozone was up 0.6% and 1.9% in month-over-month and year-over-year terms, respectively.
- The Consumer Price Index in Italy was up 0.2% in both month-over-month and year-over-year terms, respectively.
- Oil extended its decline below $45 a barrel in New York as a further pullback in U.S. drilling failed to temper expectations that the global oversupply will persist for most of next year.
- Copper fell after weak Chinese industrial production and fixed asset investment increased concerns over an economic slowdown in the world’s largest consumer. All industrial metals retreated.
- Bell Media is considering cutting between 350 and 700 jobs, La Presse reports, citing “several” unidentified sources.
- Apple Inc. revealed a new way to buy its flagship device last week – the option to pay for unlocked models of its newest iPhones through monthly instalments. But the arrangement is exclusive to U.S. customers, extending a trend in smartphone shopping that has yet to make its way to Canada.(Globe)
- U.S. stock-index futures advanced, signalling equities will extend gains after their best week since July, as investors speculated on whether the Federal Reserve will raise interest rates at Thursday’s meeting.
- Vista Equity Partners agreed to buy Solera Holdings Inc., a seller of risk-management software for investors, for $6.5 billion including net debt.
- Optimism returned to European equities after they briefly erased earlier gains.
- Credit Suisse Group AG fell after a Swiss newspaper reported that Chief Executive Officer Tidjane Thiam plans to sell its U.S. private bank and scale back the lender’s prime brokerage and fixed-income business.
- Airbus Group NV Chief Executive Officer Fabrice Bregier is laying plans to overtake Boeing Co. in the U.S., the largest aerospace market, starting with a new factory in Alabama.
- China’s stocks slumped the most in three weeks as data over the weekend added to concern the economic slowdown is deepening and traders gauged the level of state support for equities.
- India will soon notify import tax on some hot-rolled steel products, Reuters reports, citing unidentified people familiar.
*All information is taken from Bloomberg, unless otherwise noted.