Cyrrus (Cyrrus)
Markets  |  June 01, 2012 09:53:11

Breakfast-stock 6.1 - Spain, Greece, macro


Overview of major events for Friday, the 1st June 2012

U.S.  

Worse macrodata  

ASIA  

PMI  

EUROPE  

Spain, Ireland, PMI, Greece  

SUPERSPAD  

X  

COMMODITIES  

Oil

Upcoming Events

10:00 EZ PMI (PMI IT 9:45, 9:50 PMI FR, GE 9:55 PMI) 11:00 EZ Unemployment
14:30 U.S. Payrolls, n-st U.S.
14:30 Personal income and spending U.S.
16:00 U.S. ISM manufacturing
16:00 U.S. Construction spending
Sales of U.S. cars 23:00

U.S.

  • Business in the mood of investors in the U.S. dampened macroeconomic data, which was yesterday in large numbers. The numbers both showed that household consumption in the first quarter of this year did not grow as expected (2.7% vs. 2.9%) and the increase in the number of applications for unemployment benefits (383 thousand., Vs. 370 thousand.). The S & P 500 and ended his worst month since September last year.
  • ASIA

    China PMI:

    • Vs. 50.4. exp. 52 (53.3 in April)
    • Worse due date is increasing speculation about higher support from their governments
    • According to Credit Suisse, the stimulus could be around USD 315 billion (half the volume of 2008) and will be released in the coming months
    • according to HSBC were also reduced from 49.3 to 48.4

    EUROPE

    Expectations of PMI:

    • expected stagnation
    • traditionally come first data from the national economies
      • 9:15 Spain (exp. 43, min. 43.5)
      • 9:45 Italy (exp. 43.5, min. 43.8)
      • 9:50 France (exp. 44.4, min. 44,4)
      • 9:55 Germany (exp. 45, min. 45)
      • 10:00 Eurozone (exp. 45, min. 45)

    Spain:

    • According to the minister of economic de Guindose is the future of the euro in Spain and Italy threatened
    • Union Bank calls for tighter integration and
    • Drained away from Spain for the March 66 billion of capital (historical record)
    • Foreign lenders have reduced their volume of debt held by the Spanish from 50% to 37%, while Spanish banks increased from 17 to 29%
    • Continues flight to safe assets, 2-year German bond carries no negative yield, 10-year historic lows deepens
    • This increases the pressure on Merkel and the ECB to take action

    Ireland:

    • Counting of votes referendum on fiscal pact will begin at 9:00
    • The final sum is expected to evening
    • It is expected that citizens will support the pact

    Greece:

    • A new survey (26.5% for ND, 24.2% for SYRIZA)
    • 1202 respondents, conducted between 29 to 30 May

    SUPERSPAD

    Recommendation:

    • Deutsche Bank - ex-dividend date 0.75 euros, 2.6%
    • UBS raises recommendation for Munich Re shares from "neutral" to "buy"
    • RWE - removed from the list the best tips from Morgan Stanley

    COMMODITIES

    Oil:

    • the seven-month low after the worst Chinese PMI
    • In addition, a higher increase in oil
    • Additional technical support according to the Fibonacci $ 83.17

    U.S. Stocks [thous. barrels]

    Exp.

    Current

    Last time

    Oil

    May 25

    1000

    2213

    883

    Spirits

    May 25

    0

    1709

    -309

    Petrol

    May 25

    1000

    -833

    3299

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    January 09, 2013Breakfast-stock 1.9 - Alcoa, Japan, macro Cyrrus (Cyrrus)

    Akciová snídaně 1.6. - Španělsko, Řecko, makro

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