Cyrrus (Cyrrus)
Markets  |  August 07, 2012 10:10:48

Breakfast-stock 7.8 - Merkel supports ECB, Monti and Rajoy pressing on the ECB's macro results


Overview of major events for Tuesday, the 7th August 2012

U.S.

x

ASIA

The growth of Asian markets for Europe

EUROPE

Merkel supports the ECB's intervention on the secondary market

SUPERSPAD

Muenchener Pfizer

COMMODITIES

Oil

Upcoming Events

10:00 Italy Industrial Production
11:00 Italy 2Q GDP
12:00 Germany corporate orders

First Energy Corp. (the market)
CVS Caremark (before market)
XL Group (after market)
PG & E

ASIA

  • The growth of Asian markets for Europe

EUROPE

Merkel

  • Yesterday the ECB endorsed a plan to buy government bonds of countries at risk in the secondary market
  • Again, the ECB is a little closer to once again entered the secondary market

Italy, Spain

  • Monti pushing for the ECB to take action on the secondary market of government bonds
  • It mentions the risk of collapse area
  • Monti (Italy PM) and Rajoy (PM Spain) waiting with possible applications to bailout out plan which draw ECB (vicious circle)
  • Hollande is being urged to Rajoye Monti and to take the overall bailout, because the current uncertainty may threaten France in the bond market
  • Today, Draghi said to meet with Monti (secret meeting)

SUPERSPAD

Muenchener

  • Profit of EUR 808 miles vs. 736 miles est. EUR
  • EBIT of EUR 1.1 billion vs. 1.16 billion EUR est.
  • slightly increase the profit target for 2012
  • +0.1% (The only title in the premarket numbers in green)

Pfizer

  • Resigned from the development of a revolutionary cure for Alzheimer's disease
  • The project was stuck in 2nd phase of development (of four)
  • After the market -3%

COMMODITIES

Oil

  • Speculation that this week will lower stocks
  • Tropical Storm Ernesto proceed to the U.S., gaining strength in the Caribbean
  • Coming into the Bay of Campeche, where Mexico's oil profits most
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Akciová snídaně 7.8. - Merkelová podporuje ECB, Monti a Rajoy tlačí na ECB, makro, výsledky

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