Cyrrus (Cyrrus)
Markets  |  December 05, 2012 10:00:50, updated

Joint Stock breakfast 12.05 - Fiscal cliff, China, EUROFIN macro


Overview of the main events for Wednesday, the 5th December 2012

USA

Fiscal reef

ASIA

China

EUROPE

Finance ministers

SUPERSPAD

AAA Auto, Tesco

COMMODITIES

Oil

Upcoming Events

10:00 PMI composite services and EZ
11:00 Retail sales EZ
14:15 Change from sti-USA according to ADP
16:00 USA Industrial orders
16:00 ISM composite services and the U.S.

16:30 Oil stocks according to DoE

USA

Fiscal reef

  • Negotiations not yet progressed
  • Still under accusations that the other side is not enough of its proposals in depth
  • According to Obama, there is potential to deal
  • Still strategizing

Design Democrats

  • Reduce spending by 600 billion and increase revenues by 1600 billion (mainly by increasing taxes on households earning annually more than 250 thousand. USD)
  • The basis is a tax increase for the rich - without Obama is not willing to deal

Republicans' proposal

  • Reduction of expenditures by 1400 billion and increase revenues by 800 billion USD (through increasing the efficiency of tax collection and capping deductions for the rich)
  • I also plan to reduce the growth of social benefits and health-related expenditures

ASIA

China

  • Shanghai Composite rose the most in the last three months, traded volume was 40% above the average of 30d
  • The reason output from the first meeting of the new leadership in China. According to commentators the gathering greater support for urban construction
  • Increases so mainly to property developers
  • She also counts on the support of small entrepreneurs
  • The government has also allowed insurers to invest more in commercial banks

EUROPE

EU Finance Ministers

  • The next week convened an extraordinary meeting (12.12)
  • The aim is to shift the negotiation of a single banking regulator
  • Meanwhile pays deadline for compliance by the end of the year (the current conflicts but I do not record)
  • Yesterday's negotiations faltered on how much power should the ECB as an EU-wide banking regulator should have
  • Today finance ministers meet to consecrate the EZ release tranche Greece

SUPERSPAD

AAA Auto

  • In November sold 4,270 vehicles, +18.1% yoy
  • Fared best in the Slovak Republic, +35.2% yoy
  • Russia still does not meet management concepts (sold there in November just 173 cars, vs. 121 last year)
  • In the next quarter are fairly careful with how the deteriorating economic situation in the Czech Republic
  • But this year almost certainly meet schedule has sold at least 50 thousand. cars

Tesco

  • Sales in 3Q UK -0.6%, est. -0.8% For 2Q rose by 0.1%
  • Total revenues for Q3 +2.9%
  • In Central Europe remain difficult conditions

COMMODITIES

Oil

  • Growth in response to possible further fiscal stimulus in China (the second largest importer)
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Akciová snídaně 5.12. - fiskální útes, Čína, Eurofin, makro

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