Cyrrus (Cyrrus)
Markets  |  November 29, 2012 10:25:29

Joint Stock breakfast 29.11 - Fiscal cliff, Japan, Greece, macro

Overview of the main events for Thursday, the 29th November 2012




Fiscal reef


Japan, Korea strong increases




Volkswagen, Siemens



Upcoming Events

9:55 N-st Germany
11:00 Trust EZ (industry, services, the consumer)
14:30 USA GDP QoQ
14:30 Applications USA
16:00 U.S. home sales under negotiation


Fiscal cliff:

  • Indices again strongly reacted to the events surrounding the negotiations on the fiscal cliff
  • This time, expressed his optimism member of the House of Representatives, Rep. Boehner
  • But still opposes the fact that the abolition of tax relief for the rich
  • Thus, the fundamental requirement of Democrats
  • And he spoke optimistically with the fact that at least agree on something before Christmas
  • They say Republicans are more inclined to compromise
  • Today, Treasury Secretary Geithner will meet with representatives of Congress

Beige Book:

  • The economy in recent weeks grew at a moderate pace
  • Helps restore domestic demand and improvements in the property market
  • Burden to the contrary, the slowdown in the industry and the effects of storm Sandy
  • The report also indicates that the Fed will not reduce QE3



  • Stronger increases due to speculation that the elections next month opposition wins
  • It calls for unlimited incentives
  • In addition, Goldman Sachs issued a report in which it assumes a good development of the shares, if the opposition wins


  • Too strong surges, predictions here because Morgan Stanley
  • They expect growth in the index until the end of next year by 21% to 2300 points



  • According to Moody's, Greece's debt is still unsustainable
  • Probability of default of the debt held by the private sector is high
  • According to them is not real, that there is a smooth implementation of the objectives



  • Settle disputes with Chinese partner FAW
  • It was suspected that FAW VW took over several patents
  • Now the situation was settled and the two automakers signed a cooperation for the next 25 years
  • The current contract was to end in 2016
  • FAW VW needs. Without it, China could expand as it needs to in 2018 surpassed GM and Toyota


  • Plans to buy Invensys Rail division for EUR 1.74 billion
  • The completion of the transaction should be finalized in 2Q 2013, if approved by the General Assembly and regulators
  • According to Deutsche Bank, it is a fair price, themselves recently rated this division to 1.76 billion
  • Bernstein analyst deems it but a high price (it's about the entire market capitalization of Invensys and not just her division)
  • Invensys responded to an increase of 27% on the notification menu


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Akciová snídaně 29.11. - fiskální útes, Japonsko, Řecko, makro

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