Financial Markets Weekly Recap 12



2. Next week Data:

Monday : 

EUR: ECB’s Panetta speech
EUR: Retail sales ( FEB )
CAD : BoC Business outlook survey Tuesday:
GBD: Trade balance (FEB)
NZD: Card spending

Wednesday:

ZAR: Retail sales (FEB)
EUR: ECB’s Panetta speech
USD: Heating oil

Thursday:

AUD: MI Inflation Expectations
EUR: IPC France
USD: Major Retail Sales

Friday:

CNY: GDP (Q1)
EUR: Germany Car Registrations
CAD: Wholesales
EUR: CORE CPI
EUR: Trade Balance

3. Earnings Reports:

FINANCIAL MARKETS WEEKLY RECAP

  • Atlas Corp
  • Ferrari NV
  • Nestle ADR
  • Colgate-Palmolive
  • Royal Bank of Canada
  • Coca-Cola Bottling
  • Goldman Sachs Group Inc Pa ADR
  • JPMorgan American
  • Western Asset Global Highome Closed
  • L’Oreal ADR
  • United Tractors ADR
  • Caterpillar
  • Vitec Group

4. Breaking News for this week:

Tuesday // 13 March 2021 :

Shares gain ground as investors await U.S. inflation data: 

Global stocks ticked up on Tuesday as robust China trade data boosted confidence for a rebound in its
domestic demand, with market players awaiting U.S. data expected to show a pick-up in inflation.
Investors were focused on U.S. inflation data for March, due at 1230 GMT. Markets expect a forecast
pick-up in inflation to accelerate recent moves by equity investors to rotate towards cyclical stocks.

European Stocks Mixed; U.K. Underperforms After Patchy Growth Data: 

European stock markets traded in a muted fashion Tuesday ahead of key U.S. inflation numbers, with
the U.K. underperforming after the release of patchy growth data.

Wednesday // 14 March 2021 :

Coinbase Soars Above Reference Price in Nasdaq Debut: 

Coinbase Global Inc (NASDAQ: COIN), the first major crypto company to go public, opened at $381,
soaring 52% over the $250 reference price.
The price continued to climb just after the open around 1:25 PM ET. Nasdaq had given Coinbase a
reference price of $250, which valued the cryptocurrency exchange at about $65.3 billion. The
company listed directly on the exchange, bypassing a traditional initial public offering and allowing for
a market-driven price.

S&P 500 Stumbles as Tech, Inflation Jitters Offset Earnings Euphoria: 

The S&P 500 closed lower Wednesday, as the Fed's Beige Book report stoked inflation jitters
somewhat offsetting intraday optimism following earnings from Wall Street banks that topped
estimates.

4. Breaking News for this week:

Thursday// 15 April 2021 :

Dow Tops Historic 34,000 as Bulls Feast on Earnings, Retail Sales: 

The Dow hit a record and topped the 34,000 milestones Thursday, as a double whammy of surging retail sales and corporate earnings that beat estimates triggered bullish bets on stocks.

U.S. Retail Sales Skyrocketed in March as Stimulus Checks Landed: 

Retail sales rose 9.8% according to data released on Thursday by the Bureau of Economic Analysis, well ahead of the 5.9% rise expected and the biggest monthly increase since May last year. The less volatile series of core retail sales also rose sharply, by 8.4%. The numbers for February were also revised up for both series.

Friday // 16 April 2021

Morgan Stanley Falls Premarket; DraftKings, Alcoa Rise: 

Morgan Stanley (NYSE:MS) stock fell 2% despite the investment bank reporting a 150% jump in quarterly profit, as a global dealmaking boom boosted investment banking and heightened trading activity lifted its institutional securities division. Expectations were already extremely strong after the week's previous banking results.

Wall Street Opens Higher as Banks, Housing Keep Mood Buoyant; Dow up 175 Pts: 

U.S. stock markets opened mostly higher on Friday, as robust earnings from Main Street banks and a the sharp rebound in housing starts in March sustained the positive mood created by Thursday's retail sales and jobless claims data.

5. M&A News :

Kimco Realty to buy Weingarten for about $30.32 per share 

The operator of open-air shopping centers Kimco Realty Corp said on Thursday it would acquire Weingarten Realty Investors for nearly $30.32 per share.

Thermo Fisher expands pharma service business with $17.4 bln PPD acquisition 

Medical device maker Thermo Fisher Scientific Inc (TMO.N) said on Thursday it would acquire contract researcher PPD Inc (PPD.O) for $17.4 billion as it looks to add more muscle to its pharmaceutical services business.

EU antitrust regulators to decide on $9 bln SK Hynix, Intel deal by May 20 

EU antitrust enforcers will decide by May 20 whether to clear South Korean chipmaker SK Hynix Inc's (000660.KS) $9 billion buys of Intel Corp's (INTC.O) NAND memory chip business, according to a European Commission filing

Orsted makes $631 mln onshore wind acquisition in Ireland

Renewable energy group Orsted (ORSTED.CO) has agreed to buy Brookfield Renewable's Ireland and UK onshore wind business, its first step into Europe's onshore wind market, in a deal valued at 571 million euros ($683 million).

UK's Ocado invests in Oxbotica to develop autonomous deliveries 

British online grocer Ocado (OCDO.L) will invest 10 million pounds ($13.8 million) in autonomous vehicle software company Oxbotica as part of a tie-up that aims to reduce the cost of last-mile delivery and other logistics, it said on Friday.

UPDATE 2-Tilt Renewables accepts $2.2 bln takeover offer, to snub rival bids 

Tilt Renewables said on Friday it accepted a higher bid from a consortium that included its second-largest shareholder and AGL Energy, after it raised the offer for the wind farm operator, valuing it at NZ$3.07 billion ($2.20 billion)

CVC delays Toshiba buyout offer after CEO change - Nikkei: 

Private equity firm CVC Capital Partners will delay submitting a formal proposal to buy Toshiba Corp (6502.T), following the appointment of a new chief executive officer by the Japanese industrial group, the Nikkei reported on Friday. 

5. Private equity:

Thoma Bravo targets $3bn for debut growth fund

Technology-focused Thoma Bravo is pitching a fresh strategy to investors just months after collecting $22.8bn for three new funds.

Coinbase spikes to $100bn valuations on trading debut — here’s what’s next for the crypto exchange

Crypto exchange Coinbase has gone public in New York, in what Coinbase’s chief executive Brian Armstrong said “is a milestone, but it’s not as important as every new day in front of us.

 Maven invests £2.5 million in analytics business Cardinality

Glasgow-based Maven Capital Partners has invested £2.5 million in software and service provider Cardinality.

UK’s Tembo Capital increases its mining bets in North America

Mining-focused Tembo Capital Management is seeking to expand its investments in North America as the private equity firm bets that President Biden’s $2.3tn proposed infrastructure plan will boost demand for industrial metals.

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