• US jobs report fuels equity rally, dollar rebounds, gold tumbles Link $USDCAD $GBPUSD $EZJ $WORK $UKX $SPX $UAL
    David Madden Fri 05 Jun 2020 16:20

    The FTSE 100 hit a three-month high and Continental benchmarks rallied too on the back of the well-received US non-farm payrolls report. 

    Europe

    Last month 2.5 million jobs were added in the US, which was in stark contrast to the 8 million jobs that economists were expecting. The April reading of -20.5 million was revised to -20.68 million, so at least in May some of the previous job losses were recouped. The unemployment rate fell from 14.7% to 13.3%, and the annual average earnings cooled from 8% to 6.7%. The slide in the jobless rate adds weight to the view the US labour market is turning around. The fall in the earnings figure could suggest that previously furloughed staff are now going back to work as lower income jobs such as retail assistants are included in the report. The upward move in stocks is fuelled by hopes that economic activity will rise as lockdown restrictions continue to be loosened.

    Taylor Wimpey confirmed that construction...

  • United Continental shares are up more than 20% on plans to reopen routes, travel sector rallies $UAL
    David Madden Fri 05 Jun 2020 13:35
  • RT @DeItaOne: LVMH BACKS DOWN ON ITS PURSUIT OF RENEGOTIATING PRICE OF $16.2 BILLION ACQUISITION OF TIFFANY & CO-SOURCES $TIF
    David Madden Fri 05 Jun 2020 12:55
  • The FTSE 100 hits three month-high following well-received US jobs report, US index futures jump too $UKX $SPX
    David Madden Fri 05 Jun 2020 12:50
  • Canadian unemployment rate (May): 13.7% vs 15% expected Canadian employment change (May): +289,600 vs -500,000 expected
    David Madden Fri 05 Jun 2020 12:40
  • US non-farm payrolls (May): +2.5 million vs -8 million expected US unemployment (May): 13.3% vs 19.8% expected US average earnings YoY (May): 6.7% vs 8.5%
    David Madden Fri 05 Jun 2020 12:35
  • RT @PriapusIQ: ???? BREXIT: SENIOR UK NEGOTIATING OFFICIAL SAYS OCTOBER IS TOO LATE FOR EU-DEAL, WE NEED TO WORK INTENSIVELY NOW AND INTO J…
    David Madden Fri 05 Jun 2020 12:10
  • Waste management company Biffa said it was seeing a “modest” monthly cash burn and was considering future funding options, including a cash raising The stock is near session lows $BIFF -7.4% Link
    David Madden Fri 05 Jun 2020 12:10
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  • RT @mhewson_CMC: Here we go Barnier - No signficant progress Fisheries and LPF not separate from trade
    David Madden Fri 05 Jun 2020 11:20
  • RT @LiveSquawk: Watch EU’s Barnier Gives Press Conference On Brexit Negotiations At 1200BST Link
    David Madden Fri 05 Jun 2020 10:25
  • RT @DeItaOne: BOMBADIER AVIATION TO CUT WORKFORCE BY ABOUT 2,500 EMPLOYEES
    David Madden Fri 05 Jun 2020 10:05
  • RT @SkyNewsBreak: Carmaker Bentley announces it is to cut up to 1,000 jobs under a "voluntary release programme" and cannot rule out future…
    David Madden Fri 05 Jun 2020 09:50
  • RT @SimpsonsQOTD: “Hello, police? This is Marge Simpson. My husband is on a murderous rampage. Over." "Thank God that's over. I was worried…
    David Madden Fri 05 Jun 2020 09:20
  • RT @PriapusIQ: ?? HONG KONG'S HANG SENG INDEX RISES 7.9% FOR THE WEEK, BIGGEST WEEKLY PERCENTAGE GAIN SINCE APRIL 2015 https://t.co/9qeD3UP…
    David Madden Fri 05 Jun 2020 08:15
  • RT @LiveSquawk: Italian Retail Sales (M/M) Apr: -10.5% (est -20.0%; prev -20.5%) Italian Retail Sales (Y/Y) Apr: -26.3% (prev -18.4%)
    David Madden Fri 05 Jun 2020 08:05
  • UK Halifax HPI MoM (May): -0.2%, prior -0.6%
    David Madden Fri 05 Jun 2020 07:35
  • Premier Oil agrees deal with top creditor ARCM over buying BP assets at a reduced price. Link $PMO +10%
    David Madden Fri 05 Jun 2020 07:25

    LONDON (Reuters) - Premier Oil (PMO.L) will issue discounted shares to activist hedge fund ARCM representing 8.91% of the company to pay for North Sea assets from BP (BP.L), which agreed to reduce the price, Premier said on Friday.

    ARCM, which owns around 15% of Premier’s debt and has a large short position in its shares, has agreed to drop its appeal against a court scheme to facilitate Premier buying the BP assets, Premier said.

    The deal will involve Premier paying BP $210 million in cash and reduces Premier’s liability for field abandonment to $240 million from $600 million.

    It replaces an initial scheme which would have involved a broader capital raising to pay the initial price of $625 million and extend Premier’s debt maturities by two years.

    “We are pleased to have agreed revised terms with BP for the proposed acquisition of the Andrew Area and...

  • RT @mhewson_CMC: Lufthansa set to drop out of the DAX after 32 years
    David Madden Fri 05 Jun 2020 06:55
  • German factory orders (April): vs -25.8% vs -19.7% expected, prior -15.6%
    David Madden Fri 05 Jun 2020 06:05
  • ECB adds extra stimulus, indices dip, American Airlines takes off Link $AML $LOOK $ECB $AAL $HSBC $STAN $GBPUSD $EURUSD $GC $NDX
    David Madden Thu 04 Jun 2020 16:39

    Stocks are a little lower even though the European Central Bank (ECB) ramped up the Pandemic Emergency Purchase Programme (PEPP) by €600 billion, so it now stands at €1.35 trillion.

    Europe

    The plan has been extended to June 2021 too. Going into the meeting there was speculation it would be boosted by €500-€750 billion so the size of the extra stimulus was roughly in the middle of the consensus estimate range. The ECB predicts the eurozone economy will shrink by 8.7% in 2020, and then see growth of 5.2% and 3.3% in 2021 and 2022 respectively. Christine Lagarde, the ECB chief, said they saw signs of the economic slump bottoming in May, so there was some positive news amid the update. Ms Lagarde is confident the situation in relation to the German constitutional court won’t be an issue for the bank’s plans. The eurozone had major structural problems going into this crisis – high unemployment and high debt – so there is a view in the markets the ECB...

  • RT @LiveSquawk: ECB’s Lagarde: ECB Will Do Everything Necessary Within Mandate ECB Ready To Adjust All Instruments As Needed
    David Madden Thu 04 Jun 2020 12:49
  • US trade balance (April): -$49.4 billion vs -$49 billion expected, prior -$42.3 billion (revised from -$44.4 billion)
    David Madden Thu 04 Jun 2020 12:39
  • US jobless claims: 1.87 million vs 1.8 million expected
    David Madden Thu 04 Jun 2020 12:34
  • RT @LiveSquawk: ECB To Reinvest QE Debt For Extended Time After First Rate Hike
    David Madden Thu 04 Jun 2020 11:54
  • In other less interesting news: ECB kept rates on hold at 0.0%, meeting forecasts. The deposit rate was left unchanged at -0.5% The press conference will be held at 13.30 BST
    David Madden Thu 04 Jun 2020 11:49
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