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Community Manager
Posts: 951
Registered: ‎20-09-2016

EMEA Morning Call 13.03.18

[ Edited ]
  • Gains in Asia but markets await U.S. consumer prices data for cues.
  • White House expects N.Korea summit to happen despite Pyongyang's silence
  • Oil prices fell, extending losses from the previous session, as the inexorable rise in U.S. crude output weighed on markets.

  • Bitcoin fails to break $10k and pulls back to sit just above $9,000.

Overnight saw further gains for Asia, after a subdued start, but all eyes are on the US CPI reading today. Tech stocks in the region displayed similar strength to those in the US, but mining names came under pressure in Australia. After a robust statement to the House by the Prime Minister, investors are watching to see if the UK government will begin taking action against Russia in response to the Skripal poisoning.


UK, US and Europe: As well as US CPI, the UK spring budget will be in focus, while we also have a speech from Bank of Canada governor Poloz.


South Africa: We are expecting a marginally lower start to on the Jse this morning as markets trade cautiously ahead of the next US data point, CPI inflation, which should provide further influence in the pace of monetary tightening within the region. The inflation data precedes next week's Federal Reserve Bank's policy meeting. The rand remains firm while metal prices trade flat to lower which is expected to weigh on local miners this morning. BHP Billiton is trading 0.85% lower on the Australian All Ordinaries Exchange, while Tencent Holdings is trading 0.4% lower on the Hang Seng. This anticipates a softer start to the local listing of Billiton and Naspers (makor holding company of Tencent) which together account for around 30% of the Top40 Index in terms of weighting.


Daily FX Economic Calendar High Importance Only (times GMT) [Link for all events]

2018-03-13 08_11_54-Forex Economic Calendar.png


Corporate News

Antofagasta said that earnings rose 59% last year, to $2.59 billion, helped by rising copper prices and sales which helped reduce the impact of lower revenue from gold. Revenues were up 31% to $4.75 billion, while a final dividend for 40.6 cents per share, with the overall dividend boosted to 50.9 cents, up 177% over the year.  

reported a 44% fall in pre-tax profit, to £102 million, although underlying profit rose to £233 million from £232 million. It added that it had seen an encouraging start to the year. 

RPC Group
has bought polythene film maker Nordfolien for €75 million.  


African Rainbow Capital The Intrinsic NAV per share as at 31 December 2017 increased from R8,46 at listing (7 September 2017) to R8,79 before dilution (R8,75 after dilution). Total INAV increased by 3,9 % to R9,076 billion at 31 December 2017, comprising Intrinsic Portfolio Value of R7,086 billion, and cash and other net assets of R1,989 billion.


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