Jefferies EMEA Market Minutes

By Meredydd Watts

PLEASE REMOVE

Daily insight into equity markets including research calls, factor & sector analysis, key macro events and trends ---- THIS IS NOT EQUITY RESEARCH: This material is a marketing com... more

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FAQs about Jefferies EMEA Market Minutes:

How many episodes does Jefferies EMEA Market Minutes have?

The podcast currently has 366 episodes available.

Jefferies EMEA Market Minutes episodes:

October 28, 2020 Wednesday 28th October - SXXP hit 5 month low
THIS IS NOT EQUITY RESEARCH: This material is a marketing communication and is not and should not be construed as investment research Please refer to Jefferies’ important disclosure via this link: {http://www.jefferies.com/globaljefferiesllc}
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3min
October 27, 2020 Tuesday 27th October - SXXP -70 bps
THIS IS NOT EQUITY RESEARCH: This material is a marketing communication and is not and should not be construed as investment research Please refer to Jefferies’ important disclosure via this link: {http://www.jefferies.com/globaljefferiesllc}
...more
4min
October 26, 2020 Monday 26th Oct - SXXP -~1% at first glance..
• At a glance SXXP ~-1%, but when you take out the DAX which is -2% on SAP cutting guidance then Europe is actually +1.5%
• US mkts in fact rallied into close on Friday, futures sell off actually started in Asia as China underperformed hitting sentiment on news that China had tested 3mln people in Xinjiang post news of a cluster of cases there, HK was closed
• GBP bit stronger vs Euro as more developments on Brexit - negotiations extended by 3 days with Barnier extending his time in London to try to complete the deal
• In terms of sectors Very defensive skew this morning
• SAP which opened -20% knocking $25bln of the DAX... After SAP cut guidance saying goals for cloud business delayed by 1-2 years.
• UK BANKS outperforming post Times spec. UK regulator said to be considering allowing banks to resume dividends next year
• Big earnings focus for sector: HSBC report tomorrow. Standard Chartered & Lloyds report on Thurs. Natwest on Friday
• M&A spec this morning
o Cellnex +2.5% said to be in talks on buying CK Hutch tower for $10.7b
o Coca-Cola Europe (CCEP NA) agrees the buy Coca-Cola Amatil in Australia for $6.6b, bidding a 19% premium
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5min
October 23, 2020 Friday 23rd Oct - SXXP +70bps
• Europe is +70bps and on good volumes +30%
• More Erns to digest this morning..
• The S&P defended its support at 3420
• We had a flurry of PMI data out this morning supporting the strength in Europe... Much of the same as last month, with manufacturing outperforming services, vitally though Job losses eased somewhat but employment still on a downward trend.
• FTSE +1.4% is outperforming getting a boost from the UK BANKS +3% - as BARC +7.5% after blow out 3Q beat: ADJ PRETAX £1.22B, cons. 650.5M... HSBA +4.5% and LLOY +5.6%...
• McCarthy & Stone after +40% 115p / share cash offer by Lone Star
• KER -3% - MONC OR +1.5% Autos +1.5 also strong this morning on Erns.. parts a focus --- Michelin +3% beat and raise. Athought Faurecia now UNCH having been up 2.5%
THIS IS NOT EQUITY RESEARCH: This material is a marketing communication and is not and should not be construed as investment research Please refer to Jefferies’ important disclosure via this link: {http://www.jefferies.com/globaljefferiesllc}
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3min
October 22, 2020 Thursday 22nd Oct
• Europe is -50bps having been -1%..
• leg lower overnight after US intelligence officials warned Russia and Iran have attempted to interfere in next months US election...
• Another Earnings heavy day with single stock moves ranging from +10% to -8%.. Still seeing travel and arrive theme as the majority now are down on the day.
• Speaking of earnings.. Tesla reported after hours in the US is +5% pre market after broad and balanced 3Q beat. FCF v strong despite capex increasing. FY delivery target of 500k kept, with acknowledgement of the challenges...
• In terms of sectors.. Autos +2% from the lows… Pharma, Tech and Energy all -1% are worst with 'Travel & Leisure' relative outperformer..
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4min
October 21, 2020 Wednesday 21st - Market pretending it’s rotating into value, I think it’s just risk off
Recorded 10:15 GMT / 5:15 Eastern Time

* Europe -1.5% -- function of US Fiscal saga (NTY downbeat article out later yesterday) and Netflix -6% on slowing net adds hurting growth
* Value holding up well but I think its just because people don't own it, there is real selling in the market today, SXXP has broken down thru 200 dma
* Tesla reports after the close as well which will be super interesting
* Currencies a feature, GBP up best part of a percent vs the $ on constructive comments from Barnier on brexit deal -- broader $ weakness hurting European indices with Euro bit stronger as well

THIS IS NOT EQUITY RESEARCH: This material is a marketing communication and is not and should not be construed as investment research Please refer to Jefferies’ important disclosure via this link: www.jefferies.com/globaljefferiesllc
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4min
October 20, 2020 Tues Oct 20th: Europe rallying buoyed by +ve earnings
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6min
October 19, 2020 Monday 19th Oct - EURONEXT MARKET HALT
• Europe +half a percent this morning but this is not necessarily an accurate representation of where we should be given the trading halt we are experiencing due to a technical fault
• Euronext is having street wide issues
• France, Portugal, Belgium, Netherlands & Ireland markets are all halted.
• S&P futs which are unch from Europeans close Friday, somewhat recovered from the weakness after the options expiry in the US and Fridays tech weakness..
• Today we have
o Brexit saga heads to the House of Lords today where there is some speculation they may amend aspects of the proposal to soothe the EU
o OPEC+ meeting stars today, Putin and Mohammed Bin Salman have been in dialog in recent days leading into meeting
o Today and tomorrow, we should see a lot of headlines around the fiscal negotiations in the US
• Airlines +1.3% - The industry is working to set up testing system to replace quarantine to help revive the industry
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3min
October 16, 2020 Friday Oct 16th- Mkts bounce on covid drug headlines and stimulus deal optimism & +ve EU earning
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7min
October 15, 2020 Thurs 15th Oct: Dax -3% covid fears pick up with big risk off theme across asset classes.
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5min

FAQs about Jefferies EMEA Market Minutes:

How many episodes does Jefferies EMEA Market Minutes have?

The podcast currently has 366 episodes available.