- Analytics
- Market Overview
No significant US statistics for today - 20.4.2015
This morning futures on US stock indices and European stocks are rising on the news from China, which makes cuts in bank reserve requirements as the economy stimulus measure. Market participants expect higher demand for raw materials. It buoyed stocks of commodity companies worldwide and pushed the Aussie higher. The additional positive factor for European markets was the news about the plans of Belgian telecommunications company Telenet to buy Danish company BASE for 1.4 billion euro, as well as the information about a possible merger of Banca Popolare di Milano and Banco Popolare in Italy. Euro is slipping on a possible Greek default, if the negotiations of EU finance ministers scheduled on April 24 in Latvia won’t be successful. Today Vice President of the ECB Vitor Constancio will deliver his speech at 15-00 СЕТ. The ECB is expected to provide more detail on money printing at 15-45 СЕТ.
Nikkei follows the global stock market activity. The index dropped on Frday, but has risen today. Market participants expect Japanese companies to report earnings forecasts for the current fiscal year, ending in March 2016. The news about a possible rise in Panasonic Corp net profits supported the company’s share prices. Tomorrow the leading indicator and retail sales will be released in Japan at 7-00 СЕТ.
Commodity futures prices advanced amid China’s measures to support the national economy. Crude oil prices slowed down the upsurge because Saudi Arabia reported that the country’s oil output in April was at the record high, the level of March (10.3 million barrels a day). OPEC oil production in April could rise by 1 million barrels a day as the number of US operating oil rigs was being reduced for 19th consecutive week.