Cyrrus (Cyrrus)
Markets  |  October 10, 2012 10:35:35

Joint Stock breakfast 10.10 - Asia, EUROFIN, Merkel, IMF, Alcoa



Overview of the main events for Wednesday, the 10th October 2012

 

 

USA  

Continuing declines

ASIA

Concerns about corporate profits

EUROPE

Merkel, IMF

SUPERSPAD

Alcoa, EADS, Peugeot

COMMODITIES

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Upcoming Events

9:00 Speech Weidmann
9:00 Meeting Rajoy x Hollande
11:00 Italian auction bills
20:00 Fed's Beige Book

USA

  • S & P 500 about 1% decrease (third day loss in a row)
  • However, its volume is at three-month average
  • Most lost technology sector

ASIA

  • Again, ruminating over the impact of China's slowdown in corporate profits
  • Japanese automakers yesterday reported a drop in sales in China due to the recent protests protijaponským

EUROPE

Merkel's visit in Greece:

  • Confirms interest in staying in the Greece EZ
  • But it must continue to meet its obligations
  • Release of the next tranche of financial assistance promised, he wants to wait until the report of the Troika
  • Without further aid for Greece runs out of funds in November
  • Merkel can not retreat from their positions in the next year it is facing elections
  • Despite the ban was about Merkel in Greece over 40,000 protesters

IMF:

  • He estimated European banks will have to sell assets for up to 4.5 bln. EUR in 2013, if it fails to tame debt crisis
  • Estimated to increase by 18% compared to the Opinion of April
  • Would be offended to 58 large EU banks and caused declines in lending to the real economy

SUPERSPAD

Alcoa:

  • EPS 3c 0c estimate
  • Revenues of USD 5.83 billion, vs. exp. 5.56 billion USD
  • Lowers growth estimate global aluminum consumption to 6% from the previous 7%
  • The reason for cooling in China
  • After the market eventually Alcoa -0.9%

Peugeot:

  • Rating from Moody's lowered one notch to Ba3 from Ba2
  • Leave negative outlook
  • The reason for this deterioration in the European automotive market
  • Slow reduction of unused production capacity and have few valuable assets for sale

Mergers EADS-BAE:

  • Today deadline for a decision on possible merger
  • Just to 18:00 our time
  • According to the spokesman will be "timely" notification, if there is a deadline extension or not
  • Britons can expect a decision to delay the agreement before opening the UK market
  • So far it seems that the current agreement are satisfied the British and the French, the Germans do not like

Recommendation:

  • Barclays reduces SAP to "equalweight" from "overweight", price target 55 EUR
  • Linde received a new recommendation "buy" from Berenberg, target price 159 EUR
  • Citi raises recommendation for Volkswagen shares to "buy" from "neutral"
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Akciová snídaně 10.10. - Asie, Eurofin, Merkelová, MMF, Alcoa

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