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Economy, Markets, Ratings, Statistics and Rates - September 3, 12 (4th update)


Economy, Markets, Ratings, Statistics and Rates - September 3, 12. (+ Economy from Wednesday, September 5, 2012).




Economy, Markets, Ratings, Statistics and Rates - September 3, 12 (4th update)





















MARKETS by ETX Capital and RATINGS by Thomson Reuters (http://www.analystratings.net)

07:30 AM

Morning Call: European Equities In Cautious Tone As Traders Await Data, ECB

ETX Capital sees the FTSE 100 opening up around 6 points, the DAX up 5 points and the CAC-40 up 3 points

European equity markets are trading slightly lower this morning ahead of PMI manufacturing data from individual European countries and the Euro-zone as a whole with once again little change expected compared to previous months as the overall picture remains bleak and no clear signs are visible which would be pointing to an imminent recovery in economic growth. Overnight news out of China where HSBC’s China manufacturing index dropped further and stayed firmly below the important 50 mark confirming that the slowdown in growth is deepening didn’t cause much damage to share price as bad news seems to have reached a level at last where traders are becoming increasingly convinced that the Chinese government doesn’t have any other choice left than to aggressively intervene into the economy mainly with further rate cuts and additional stimulus measures. Overall trading activity is expected to stay on the light side today, with no tier one data scheduled for release and with the US being closed due to Labor day, highlight of the week will be the ECB meeting taking place on Thursday.

Markus Huber - ETX Capital - www.etxcapital.com

09:30 AM

Morning Call: European equity markets are trading slightly lower this morning

European equity markets are trading slightly lower this morning ahead of PMI manufacturing data from individual European countries and the Euro-zone as a whole with once again little change expected compared to previous months as the overall picture remains bleak and no clear signs are visible which would be pointing to an imminent recovery in economic growth.

Overnight news out of China where HSBC’s China manufacturing index dropped further and stayed firmly below the important 50 mark confirming that the slowdown in growth is deepening didn’t cause much damage to share price as bad news seems to have reached a level at last where traders are becoming increasingly convinced that the Chinese government doesn’t have any other choice left than to aggressively intervene into the economy mainly with further rate cuts and additional stimulus measures.

Overall trading activity is expected to stay on the light side today, with no tier one data scheduled for release and with the US being closed due to Labor day, highlight of the week will be the ECB meeting taking place on Thursday.

Markus Huber - ETX Capital - www.etxcapital.com

12:00

Mid-Morning Comment: European Markets Edge Up On First September Trading Day

European equities have kicked off September on a firmer footing, albeit with limited gains with investors taking Fed Chairman Ben Bernanke’s Jackson Hole testimony last week in their stride. The Fed chairman reiterated the same rhetoric he has in recent weeks, saying the Fed is prepared to act with stimulus if needed and has a number of options on the table, however now is not the time.

Equities have responded fairly well to Bernanke’s comments - although we haven’t had the announcement of stimulus measures such as QE3, at least the Fed has the finger on the trigger and says it will fire when needed, offering markets some comfort about the outlook for the US. Back to today’s session, data from Europe has supported the tone, with PMI manufacturing releases from the euro zone and UK showing slight improvements although the overall outlook for manufacturing activity remains bleak on the whole.

As such, price-action is rather lacklustre with investors more concerned with the Chinese PMI result out overnight. The PMI report from China showed further declines in manufacturing activity, however like all negative data releases from China over the past few weeks, the report raised the calls for more easing measures by the country’s central bank who admittedly have plenty of room to act in order to stimulate growth.

In Europe, mining shares have reacted bullishly to the China stimulus hopes, while peripheral bonds have eased with Spain’s 10-year down around 4.5 basis points to 6.8%, below the 7% mark. As the session progresses, we are likely to see volatility pick up given that US markets are closed for labour day. Volumes are also low across global markets as investors wait for further economic data out this week – we have an ISM manufacturing report from the US tomorrow, followed by euro zone retail sales on Wednesday.

Thursday is the main day with policy meetings by the BOE and ECB, the latter set to garner much attention given speculation of some sort of big bazooka package. On Friday, we have the key monthly nonfarm payrolls report, a figure which will be closely watched after Bernanke last week expressed his concern with the poor conditions in the jobs market.

Ishaq Siddiqi - ETX Capital - www.etxcapital.com

ECONOMY

(Economy commentaries from Wednesday, September 5, 2012).

STATISTICS of the day

CANADA
Comptes économiques canadiens, deuxième trimestre de 2012 et juin 2012
Le produit intérieur brut (PIB) réel a progressé de 0,5 % au deuxième trimestre. Cette croissance, identique à celle des deux trimestres précédents, a été principalement attribuable aux investissements des entreprises. La demande intérieure finale a affiché une hausse de 0,4 %. Sur une base mensuelle, le PIB réel par industrie a crû de 0,2 % en juin.

CANADA
Canadian economic accounts, second quarter 2012 and June 2012
Real gross domestic product (GDP) rose 0.5% in the second quarter, matching the pace of the two previous quarters. Business investment contributed the most to second-quarter GDP growth. Final domestic demand grew 0.4%. On a monthly basis, real GDP by industry advanced 0.2% in June.

EUROPE
Le taux de chômage à 11,3% dans la zone euro / Euro area unemployment rate at 11.3% / Arbeitslosenquote des Euroraums bei 11,3%.

EUROPE
L'inflation de la zone euro estimée à 2,6% / Euro area inflation estimated at 2.6% / Inflationsrate des Euroraums auf 2,6% geschätzt.

ECB
International reserves and foreign currency liquidity In July 2012, the official reserve assets of the Eurosystem increased by €23.4 billion (3.3%) to €725 billion. The contribution of the ECB increased by €2.3 billion (3.6%) to €66 billion.

BANQUE DE FRANCE
Le taux de rémunération des dépôts bancaires
Mis en ligne le 03/09/2012
Légère baisse du taux moyen des dépôts bancaires

La rémunération moyenne des dépôts et placements monétaires diminue légèrement en juillet (- 3 pdb) sous l’effet conjugué de la baisse de la rémunération des dépôts à terme ≤ 2 ans (- 6 pdb), du rendement des titres d’OPCVM monétaires (- 4 pdb) et des livrets à taux de marché (- 5 pdb).


Economy, Markets, Ratings, Statistics and Rates - September 3, 12 (4th update)

RATES

Tableau de bord financier - Financial Dashboard

Cotations, indices et taux. Mise à jour quotidienne par Finyear.
Quotations, indices and rates. Updated daily by Finyear.

Link : http://www.finyear.com/Tableau-de-bord-financier-Financial-Dashboard_a15066.html


Lundi 3 Septembre 2012
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