Casino's parent Rallye placed under creditors' protection
Rallye-Casino Group Reveals Stock Pledges Amid Investor
Casino parent Rallye enters bankruptcy protection
Casino's parent Rallye buys more time with new credit line
Casino communication following Rallye announcement
Rallye et Casino suspendus - Boursier.com
Casino Parent Rallye Is Placed in Creditor - Bloomberg.com
Rallye Group | Home Rallye
Rallye | Financial Times
casino rallye news
casino rallye news - win
Datas de provas FIA em Portugal para 2021
Provas confirmadas:
Data
Campeonato
Prova
12-14 de Março
European Rally Championship
Rali Serras de Fafe e Felgueiras
25-27 de Março
European Rally Championship
Azores Rallye
8-13 de Abril
World Cup for Cross-Country Rallies
Portugal Rally
20-23 de Maio
World Rally Championship
Rally de Portugal
19-20 de Junho
FIA Electric and New Energy Championship
Portugal Eco Rally
26-27 de Junho
WTCR - World Touring Car Cup
Vila Real
5-7 de Agosto
European Rally Trophy – Iberian Rally Trophy
Rali Vinho da Madeira
28-30 de Outubro
European Cup for Cross-Country Bajas
Baja Portalegre
19-20 de Novembro
European Rally Trophy – Iberian Rally Trophy
Rally Casinos do Algarve
Rumores/Possibilidades:
Data
Campeonato
Prova
23-25 de Abril
Formula 1
GP de Portugal
21-22 de Agosto
World Rallycross Championship
Montalegre
Ao contrário do que há uns meses foi anunciado, Montalegre não faz parte do calendário para 2021 do FIA WRX! Há uma vaga para uma prova europeia e Montalegre faz parte das provas candidatas.
Thomas Cook Collapse Sets Up $250 Million Hedge Fund Windfall
Not everyone lost out with the collapse of 178-year-old Thomas Cook Group Plc that put 21,000 jobs at risk and left travelers around the world stranded. Speculators including Sona Asset Management and XAIA Investment GmbH stand to earn as much as $250 million from the bankruptcy.
They invested in derivatives that pay out when a company defaults. The fate of those securities was at the heart of the battle over whether Thomas Cook lived or died. Thomas Cook will be the latest of several big payouts this year for hedge funds and traders who bought these so-called credit-default swaps. The list includes U.K. fashion retailer New Look and Rallye SA, parent of French supermarket chain Casino Guichard-Perrachon SA. More are set to follow as Europe’s economy slows and a growing number of companies come under stress.
Global stocks are in the red this morning as US President Trump has allegedly asked trade officials to implement tariffs on USD$200bn in goods imported from China
US Stocks
Global stocks are selling off this morning, following news that US President Donald Trump has told aides to proceed with implementing tariffs on an additional USDS$200bn in goods imported from China while officials in Beijing are considering declining the US invitation to hold trade talks later this month. Chinese officials intimated that China may, "withold exports", which would wreak havoc in the supply chains of US companies.
US President Trump’s stance on tariffs on goods imported from China is allegedly in conflict with his Treasury Secretary, Steve Mnuchin, who putatively prefers to continue talks to resolve conflicts with Chinese trade officials
US stocks index futures are pointing to a negative open in NY with the Dow Jones minis –0.09% S&P500 minis –0.14% and Nasdaq 100 minis –0.19%
The VIX is little changed this morning and is currently at 12.69 after closing at 12.07 yesterday
EEM September 21 OTM Calls, FXI December 21 OTM Calls & Puts, and Fortive Corp (FTV) October 18 OTM Calls are the most heavily traded options contracts in the US pre-market
US 10-Year Treasury Bonds are lower with yields up 0.55 basis points to 3.0014%
The US Treasury 2s-10s Spread has widened 0.53 basis points to 0.22%
WTI Crude is currently up 0.58% to USD$68.99/bbl with the Brent-WTI spread little changed USD$-0.21 to USD$9.46/bbl
Gold is currently up 0.3% to USD$1198.41/oz
Stocks Trending in the News
Click name for Q-Factor score and financial data.
Casino (CP FP) parent Rallye (RAL FP) rose 7.5% to 9.99 euros on news it lined up a 500mn euros credit facility with 5 banks. This facility was put in place as Rallye has 970mn euros in bonds coming due by March, 2019. Casino is trading 2.5% higher at 33.73 euros. Casino is rated ‘Unattractive’ in our European Large-Cap Global top Picks, Rallye is rated ‘Neutral’ in our European SMID-Cap Global Top Picks.
Credit Suisse Group (CSSGN SW) was criticized by Swiss regulators today for lax oversight of a star banker convicted of fraud. Fima, as the Swiss regulator is known, described oversight as “inadequate’ and is requiring an improvement of internal controls.
Go-Jek, Indonesia's most valuable startup and backed by Tencent (700 HK), is in talks to raise USD$2bn to accelerate its overseas expansion. Go-Jek started with ride hailing but has expanded to a number of on-demand service such as food delivery and bill paying. Tencent is down 3.2% at HKD$319.20. Tencent is rated ‘Top Buy’ in our China All-cap Global Top Picks
H&M (HMB SS) reported 9% revenue growth, well above market consensus, and the stock is trading 13% higher at $138.90. This sales growth is the first glimmer of a turnaround for a company that has recently struggled. H&M is rated ‘Top Short’ in our European Large-Cap Global Top Picks
Phillips (PHIA) was upgraded to outperform at Exane with medical imaging cited as a strong driver. Its price target was hiked to 45 euros from 38.50. Phillips is rated ‘Attractive’ in our European Large-Cap Global Top Picks
Shell (RDSA LN) announced it is targeting methane emissions intensity below 0.2% for all its oil and gas assets. This is part of its Net Carbon Footprint initiative to cut its footprint by 50% by 2050. Shell is rated ‘Attractive’ in both our European Large-Cap and United Kingdom All-Cap Global Top Picks
Teva (TEVA) has its shares upgraded at BTIG to neutral from sell after its migraine drug Ajovy was approved by the FDA. Teva is trading flat at 8721. Teva is not rated in our Global Top Picks
Volkswagen (VOW GR) is aiming to produce 100,000 electric cars in 2020 and offer 27 different vehicles by 2022. The company will also offer wallbox chargers for homes. Volkswagen is rated ‘Unattractive’ in our European Large-Cap Global Top Picks
European Stocks
European stocks are current in the red, off their early morning lows, with trade-sensitive sectors like autos and tech pressuring indices across the region
The Euro Stoxx 600 is currently down -0.12%, the FTSE 100 has declined -0.24%, the DAX has fallen -0.43%, and the CAC 40 is lower by -0.28%
Today’s weakness in European markets follows the best week for European stocks last week since July 2018
Investor sentiment for European stocks is negative with the advance/decline ratio for the Euro Stoxx 600 currently at 0.63x
Retail (+0.77%), Telecommunications (+0.51%), and Utilities (+0.38%) stocks are the top performers in the Euro Stoxx 600 today
Technology (-0.74%), Food & Beverage (-0.5%), and Health Care (-0.44%) stocks are the worst performers in the Euro Stoxx 600 today
36 stocks in the Euro Stoxx 600 are at 4-week highs while 62 stocks are at 4-week lows
13 stocks in the Euro Stoxx 600 are overbought while 43 stocks are oversold according to the 16-day RSI Measure
VSTOXX, the European stocks equivalent of the VIX, is little changed this morning and is currently at 14.62 after closing at 13.9 yesterday
EUR€ is currently up +0.318% against the USD$ to 1.1662
GBP£ is currently up +0.253% against the USD$ to 1.3101
CHF is currently up +0.31% against the USD$ to 1.0369
German 10-Year Bunds are lower with yields up 1.4 basis points to 0.464%
UK 10-Year GILTs are lower with yields up 0.9 basis points to 1.539%
Asian Stocks
Asian stocks were mixed overnight, with Hong Kong and Chinese stocks finishing down on news of escalating tensions between officials in Washington and Beijing
Typhoon Mangkhut which hit Hong Kong further negatively impacted investor sentiment
The Nikkei 225 finished up +1.2%, the Hang Seng ended down -1.3%, the Hang Seng China Enterprise declined -1.07%, and the CSI 300 was -1.15%
Chinese stocks have fallen to a 4-year low, with the Shanghai Composite down almost 25% since reaching its high in January 2018
52 stocks in the Nikkei 225 hit 4-week highs while 5 stocks reached 4-week lows
20 stocks in the Nikkei 225 closed overbought while 5 stocks closed oversold according to the 16-day RSI Measure
Investor sentiment for Hong Kong stocks finished negative with the advance/decline ratio for the Hang Seng closing at 0.14x
7 stocks in the Hang Seng hit 4-week highs while 1 stocks reached 4-week lows
3 stocks in the Hang Seng closed overbought while 2 stocks closed oversold according to the 16-day RSI Measure
Japan 10-Year Government Bonds are flat with yields little changed 0 basis points to 0.118%
JGBs 2s-10s Spread has little changed 0 basis points to 0.22%
JPY¥ is currently little changed against the USD$ at 112.03
Bottom-fishing bazaar: Investors scoop up bargains after Trump softens tone on trade, global stocks rising
US Stocks Preview Ahead of the Open
Global stocks and US futures are higher on President Trump's softer tone with China, front-month Dow Jones minis are +0.66%, S&P 500 minis +0.67% and Nasdaq 100 minis +0.58%
President Trump indicated the ban on Huawei coudl be included in any eventual trade deal, sparking hopes for a path to the end of trade hostilities
President Trump announced $16 billion in aid to US farmers to help those suffering from the trade war
Oil is higher this morning with WTI 1.4% higher at $58.72
US Prime Minister Theresa May announced she will step down after failing to deliver a Brexit solution
We posted the follow yesterday:
US bonds are rallying! Read more: Who needs the Fed to cut rates? Risk-off frenzy driving 10-year yield to lowest since early 2017
Oil is collapsing: Look out below! Oil collapsing as WTI drops below $60 on surging inventories and continued trade tensions
Top Stocks by Sentiment: No Sale Needed! BUY These TOP Consumer Discretionary Stocks Trending by POSITIVE SENTIMENT
Report from the ETF Wars:SCHX Challenging The Likes Of SPY In the ETF Wars? Yes…Maybe!
We ask:XLRE is Cyclical? Don’t Diversify Your Health Care exposure with Materials Stocks? HUH?!
The VIX is little changed this morning and is currently at 16.31 after closing at 16.92 yesterday
SPDR S&P Oil & Gas Exploration & Production ETF (XOP) Sept 20 OTM Puts SPDR S&P 500 ETF Trust (SPY) May 24 OTM Puts and Energy Select Sector SPDR Fund (XLE) May 31 OTM Calls are the most actively traded options in today's pre-market
US 10-Year Treasury Bonds are lower with yields up 0.88 basis points to 2.3273%
The US Treasury 2s-10s Spread has narrowed 0.73 basis points to 0.17%
WTI Crude is currently down -5.73% to USD$57.71/bbl with the Brent-WTI spread up USD$6.85 to USD$10.76/bbl
Gold is currently little changed -0.13% to USD$1281.73/oz
Stocks Trending in the News
Click name for Q-Factor breakdown, latest price details, more financial info and sentiment data.
Global Consumer Stocks Trending in the News
Amazon (AMZN) shares could be worth $3,000 according to a new report from Piper Jaffray. Amazon could reach that level in two to three years, which would be a 65% rise from current levels, the report notes. Amazon could reach this level without any acquisition and at that level its market cap would approach $1.5 trillion. Amazon is rated “Neutral” in our US Large-Cap Global Top Stock Ideas and “Top Buy” in our US Consumer Discretionary Global Top Stock Ideas.
Casino (ENXTPA:CO) and parent company Rallye (ENXTPA:RAL) were placed under credit protection as both struggle under an enormous debt load. Credit protection is a feature of French law allowing a company 6 months to present a restructuring plan. Shares of both were suspended Thursday as the news was published and will resume trading Friday. Casino is rated “Neutral” in our European SMID-Cap Global Top Stock Ideas. Rallye is rated “Neutral” in our European SMID-Cap Global Top Stock Ideas
Nissan Motor (TSE:7201) had its credit rating cut by Moody’s. Nissan’s rating was cut to A3 from A2, with Moody’s cited dropping profit and margins over the last 2 years. The downgrade comes in the wake of Nissan being placed in credit watch in February. Nissan is suffering from slumping sales in the US and recently cut its guidance for the year. Nissan Motor Co. is rated “Top Buy” in our Japan Large-Cap Global Top Stock Ideas.
Tesla (TSLA) shares continue to slide as the downgrades pile up. Earlier in the week Morgan Stanley gave a bear case scenario for Tesla that included a $10 price target. Its previous bear case target was $97. A number of other brokers have downgraded or written negative comments since, and the stock is down over 7% just this week. Weak demand, saturated market, insufficient capital and a flood of competing models about to hit the market are among the concerns cited. Tesla is rated “Unattractive” in our US Large-Cap Global Top Stock Ideas and “Neutral” in our US Consumer Discretionary Global Top Stock Ideas.
Twitter (TWTR) has banned well-known anti-Trump members Brian and Ed Krassenstein. Twitter permanently banned both of them, saying they operated fake accounts and paid for fake interactions. A Twitter spokesman said “Twitter rules apply to everyone” adding that the allegations are grounds for the ban. Twitter is rated “Neutral” in our US Large-Cap Global Top Stock Ideas and “Attractive” in our US Information Technology Global Top Stock Ideas
Yum! Brands (YUM) is planning a large expansion of its Taco Bell unit in India as it seeks new avenues of growth. Taco Bell will add 600 location over the next decade. Yum Brands has 35 Taco Bells in India today. The expansion in India will help Taco Bell grow from 7,500 location today to 9,000 by 2022. Yum Brands is rated “Unattractive” in our US Large-Cap Global Top Stock Ideas and “Top Buy” in our US Consumer Discretionary Global Top Stock Ideas.
Global Information Technology Stocks Trending in the News
Facebook (FB) removed a record 2.2 billion fake account in the first quarter of 2019. For comparison, in the fourth quarter of 2018, Facebook removed just over 1 billion. The accounts removed are done so as soon as they are created so they are not captured in official new accounts statistics. Facebook is making a concerted effort to remove fake accounts as it comes under growing criticism. Facebook is rated “Attractive” in our US Large-Cap Global Top Stock Ideas and “Neutral” in our US Information Technology Global Top Stock Ideas
Microsoft (MSFT) removed Huawei products from its Azure products website. The move by Microsoft comes a week after the US government moved to ban Huawei from the US tech sector. Huawei made a number of products for Microsoft’s Azure Stack products and all have been remove from their catalog. Microsoft has not commented on other moves it will make in relation to the Huawei ban. Microsoft is rated “Top Buy” in our US Large-Cap Global Top Stock Ideas and “Attractive” in our US Information Technology Global Top Stock Ideas
International Stock Markets Recaps
The Euro Stoxx 600 is currently up +0.8%, the FTSE 100 is higher by +0.72%, the DAX has risen +0.89%, and the CAC 40 is up +0.91%
Technology (+0.85%), Insurance (+1.25%), and Basic Resources (+1.42%) stocks are the top performers in the Euro Stoxx 600 today
Telecommunications (+1.04%), Travel & Leisure (-0.01%), and Health Care (+0.59%) stocks are the worst performers in the Euro Stoxx 600 today
Investor sentiment for European stocks is positive with the advance/decline ratio for the Euro Stoxx 600 currently at 5.32x
16 stocks in the Euro Stoxx 600 are at 4-week highs while 231 stocks are at 4-week lows
18 stocks in the Euro Stoxx 600 are overbought while 58 stocks are oversold according to the 16-day RSI Measure
The Nikkei 225 finished down --0.16%, the Hang Seng ended up +0.32%, the Hang Seng China Enterprise up +0.43%, and the CSI 300 was +0.28%
Investor sentiment for Japanese stocks finished neutral with the advance/decline ratio for the Nikkei 225 closing at 1.16x
14 stocks in the Nikkei 225 hit 4-week highs while 50 stocks reached 4-week lows
6 stocks in the Nikkei 225 closed overbought while 51 stocks closed oversold according to the 16-day RSI Measure
Investor sentiment for Hong Kong stocks finished positive with the advance/decline ratio for the Hang Seng closing at 2.33x
1 stock in the Hang Seng hit 4-week highs while 32 stocks reached 4-week lows
1 stock in the Hang Seng closed overbought while 15 stocks closed oversold according to the 16-day RSI Measure
Global Stocks Red Across the Board with Worries about Trade Conflict and Emerging Markets Contagion slamming investor sentiment
US Stocks
Global stocks are negative across the board this AM with continued worries about trade conflict and fears of a contagion effect spreading from economic crises in Argentina and Turkey plus
US stocks index futures are pointing to a negative open in NY with the Dow Jones minis -0.34%, S&P500 minis –0.26% and Nasdaq 100 minis –0.31%
Week to date, the Turkish Lira is down 1.87% with the TRY/USD at 6.6642 and the Argentine Peso –5.32% to ARS/USD 38.9544.
Macro investors are closely watching Brazil this morning to see if there is an impact on the BRL following the drop in the ARS: the BRL is down 2.52% for the week, with the BRL/USD currently sitting at 4.16.
The VIX is little changed this morning and is currently at 13.74 after closing at 13.16 last week
Apple (AAPL) September 07 OTM Calls, Advanced Micro Devices (AMD) September 07 OTM Calls, and Bank of America (BAC) September 07 OTM Calls are the most heavily traded options contracts in the US pre-market
US 10-Year Treasury Bonds are higher with yields down -0.36 basis points to 2.89%
The US Treasury 2s-10s Spread has widened 0.04 basis points to 0.25%
WTI Crude is currently little changed 0.1% to USD$69.87/bbl with the Brent-WTI spread down USD$-0.98 to USD$6.95/bbl
Gold is currently little changed 0.22% to USD$1194.12/oz
WTI, after breaking above USD$/bbl yesterday is back below USD$70/bbl following news that stockpiles in Cushing, Texas increased for a 4th straight week
A rally in the US Dollar is weakening the appeal of USD$-based commodities for speculators
Stocks Trending in the News
Click name for Q-Factor score and financial data.
Adidas AG (ADS: DB) covered all bookings for its 5-year convertible bond with issue price guidance falling in the range of 104% and 106%. Adidas is ranked as ‘neutral’ in our European Large Cap Global Top Picks.
Bayer (BAYN GR) has no regrets about its acquisition of Monsanto according to its CEO. While admitting it has been a bumpy ride he reiterated the strategic reasons for the deal are intact and he looks forward to getting beyond the near-term turmoil. Bayer is down 2.01% at 80.10 euros. Bayer is rated ‘Neutral’ in our European Large-Cap Global Top Picks
Casino (CO FP) touched 26.5 euros today, its lowest price in 22 years. ParentRallye (RAL FP) must pledge Casino shares to draw down additional credit lines as Casino’s shares stay below 27 euros. They have recovered to 27.31 euros, down 10.2%, as analyst continue to highlight the struggles. Rallye is down 6.5% at 8.92 euros. Casino is rated ‘Unattractive’ in our European Large-Cap Global Top Picks while Rallye is rated ‘Neutral’ in our European Large-Cap Global Top Picks
Covea (CVIA) offered a 21% premium to acquire the shares of Scor (SCR FP) it does not already own. Presently Covea holds 8.2% of Scor. Scor indicated it is not interested in the offer. Scor is down .023% at 34.91 euros. Scor is rated ‘Neutral’ in our European Large-Cap Global Top Picks.
Honda (7267 JP) reported its 10th consecutive month of sales declines for its perenial favorite sedan the Accord. The abandonment of sedans by consumers is to blame. Honda closed down 0.84% at 3,292 yen. Honda is rated 'Top Buy' in our Japan Large-Cap Global Top Picks.
Komatsu (6301 JP) was downgraded by Jefferies from buy to hold with a price target dropped from 5,200 yen to 3.100. Komatsu closed 0.67% higher at 3,161 yen. Komatsu is rated ‘Attractive’ in our Japan Large-Cap Global Top Picks
Lvmh Moet Hennessy Louis Vuitton SE (LVMH: ENXTPA) shares fell 3.6% when one month at-the-money implied volatility rose to 25.5% from 22.2%. LVMH is rated as ‘top buy’ in our European Large Cap Global Top Picks.
Toyota (7203 JP) recalled 1.03mn vehicles due to the risk of fires. The recall includes Prius and CR-V models in the US and Japan. Toyota closed down 0.62% at 6,930 yen. Toyota is rated ‘Top Buy’ in our Japan Large-Cap Global Top Picks.
The potential mergers of Chinese mobile players in causing analysts to point out that the optics there could help T-Mobile’s (TMUS) case for taking over Sprint (S). Many of the reasons cited are the similar for both cases-gaining size to help roll out 5G services as quickly as possible. T-Mobile is rated ‘Neutral’ in our US Large-Cap Global Top Picks. Sprint is rated ‘Unattractive’ in our US Large-Cap Global Top Picks
Zijin Mining (2899 HK) will acquire Nevsun Resource (NSU) in a US$1.41bn deal. The offer represents a 57% premium over the last closing price of Nevsun and is a friendly deal. Zijin is down 1.7% at HK$2.82. Neither Zijin nor Nevsun are rated in our Global Top Picks.
European Stocks
The Euro Stoxx 600 is currently down -0.63%, the FTSE 100 is down -0.4%, the DAX is down -0.54%, and the CAC 40 is down -0.86%
HIS Markit’s Euro Zone Composite Final PMI increased to 54.5 in August 2018 from 54.3 in July 2018
Banks (+0.65%), Automobiles & Parts (-0.24%), and Insurance (-0.36%) stocks are the top performers in the Euro Stoxx 600 today
Technology (-1.52%), Personal & Household Goods (-1.38%), and Food & Beverage (-1.28%) stocks are the worst performers in the Euro Stoxx 600 today
Investor sentiment for European stocks is negative with the advance/decline ratio for the Euro Stoxx 600 currently at 0.42x
41 stocks in the Euro Stoxx 600 are at 4-week highs while 114 stocks are at 4-week lows
17 stocks in the Euro Stoxx 600 are overbought while 31 stocks are oversold according to the 16-day RSI Measure
EUR€ is currently little changed against the USD$ at 1.1588
GBP£ is currently down -0.249% against the USD$ to 1.2823
CHF is currently little changed against the USD$ at 1.0267
JPY¥ is currently up +0.162% against the USD$ to 111.59
German 10-Year Bunds are lower with yields up 1.6 basis points to 0.373%
UK 10-Year GILTs are lower with yields up 0.7 basis points to 1.436%
Asian Stocks
Asian stocks dropped for the fifth straight day, the longest losing streak in 3-months, over concerns about a fallout for emerging markets from economic crisises in Argentina and Turkey
The Nikkei 225 finished down --0.51%, the Hang Seng ended down -2.61%, the Hang Seng China Enterprise declined -2.25%, and the CSI 300 was -1.95%
Investor sentiment for Japanese stocks finished negative with the advance/decline ratio for the Nikkei 225 closing at 0.25x
12 stocks in the Nikkei 225 hit 4-week highs while 29 stocks reached 4-week lows
8 stocks in the Nikkei 225 closed overbought while 7 stocks closed oversold according to the 16-day RSI Measure
6 stocks in the Hang Seng hit 4-week highs while 3 stocks reached 4-week lows
1 stock in the Hang Seng closed overbought while 0 stocks closed oversold according to the 16-day RSI Measure
Japan 10-Year Government Bonds are higher with yields down -0.8 basis points to 0.115%
JGBs 2s-10s Spread has narrowed 0.8 basis points to 0.23%
Global stocks advancing this morning with US stocks set to make multi-month highs as Sino-US trade tensions appear to be cooling
US Stocks
Global stocks are positive this morning, as US stocks are set to make multi-month highs today as a potential cooling of Sino-US trade tensions is fueling investor optimism
US stocks index futures are little changes ahead of the open in NY with the Dow Jones minis +0.15%, S&P500 minis +0.16% and Nasdaq 100 minis +0.34%
US Retail Sales for August 2018 will be released this morning at 8:30am
Chinese officials have made comments stating that the world trade system is not perfect and that China supports reforms to make it fairer and more effective
Yale Economist Robert Shiller, the Nobel Laureate known for his analysis of asset-bubbles and the US housing market, believes the US stock market can go a lot higher before it comes down -- though he warns his analysis suggests it is already “highly priced”
The Russian Central Bank shocked the market this morning, raising its benchmark interest rate target to 7.5% from 7.25%
The VIX is little changed this morning and is currently at 12.21 after closing at 12.37 yesterday
Bank of America (BAC) September 14 OTM Calls, Apple (AAPL) September 14 OTM Calls, FXI October 19 OTM Calls, and EEM September 21 and October 19 OTM Calls are the most heavily traded options contracts in the US pre-market
US 10-Year Treasury Bonds are lower with yields up 1.48 basis points to 2.9848%
The US Treasury 2s-10s Spread has widened 0.19 basis points to 0.22%
WTI Crude is currently down -2.53% to USD$68.59/bbl with the Brent-WTI spread up USD$2.44 to USD$9.78/bbl
Gold is currently up 0.41% to USD$1206.42/oz
Oil prices are set to finish the week positive after yesterday’s decline, the biggest drop in a month, as investors continue to digest the upcoming November deadline for implementing sanctions on Iran and their impact on global oil supply
Gold spot price is set for its first weekly gain over the past few weeks with the Dollar Index (DXY) currently at 1 ½ month low
Stocks Trending in the News
Click name for Q-Factor score and financial data.
Bayer (BAYN GR) rose 1.4% to 71.13 euros on a buy reiteration by Baader. The note highlights the new head of the pharmaceutical division is well suited to handle the present stressful situation there. Bayer is rated ‘Neutral’ in our European Large-Cap Global Top Picks.
Casino’s (CO FP) CEO yesterday told investors that Casino will not merge with its parent Rallye (RAL FP). He additionally said he is working on Rallye issues with the news sending Casino 4.2% to 32.08 euros while Rallye is trading up 1.3% to 9.14 euros. Casino is rated ‘Unattrative’ in our European Large-Cap Global Top Picks and Rallye is rated ‘Neutral’ in our European Large-Cap Global Top Picks
Investec Plc (INVP LN) will spin off its asset management unit, an operation with USD$143bn AUM. A strategic review found that there is little synergy with the rest of the firm, hence the spin off. Investec rose 9%, the most in 9 years, to 528.60 pounds. Investec is rated ‘Top Short’ in our United Kingdom All-Cap Global Top Picks.
Metro AG (B4B GY) said today it is exploring ways to accelerate China development. It said it is considering a Chinese partner to take a stake which could include some type of M&A. Metro is trading up 1.2% at 13.83 euros. Metro is rated 'Neutral' in our European SMID-Cap Global Top Picks
Nintendo (TSE:7974) announced during a Nintendo Direct presentation earlier this morning it will be releasing a new game in the Animal Crossing series and Luigi’s Mansion 3 (working title) for the Nintendo Switch in CY2019. Nintendo is not rated in our Japan Large-Cap Global Top Picks.
NIO (NIO), the Chinese electric car maker that debuted 2 days ago on the NYSE, soared 76% on its second day of trading to close at $11.60. NIO traded lower on its first day with negative research reports being published. On day 2, though, buyers appeared in force. NIO is not rated in our Global Top Picks
NiSource (NI) is indicated to open ~8% lower after authorities in Massachusetts confirmed there were explosion at 39 locations in the coverage area of Columbia Gas, one its units. There has been no comment from Columbia Gas. NiSource is rated ‘Top Buy’ in our US Large-Cap Global Top Picks
Sony (6758 JP) traded up 3.7% to 6630 yen as its most recent Spiderman PS4 title is selling strongly. The title was released Sept 7th and has seen strong sales in its first week. Sony is rated ‘Neutral’ in our Japan All-Cap Global Top Picks
Tencent (700 HK) rose 1.9% to close at HKD$330, after NIO, the electric car maker it is backing, traded up 76% on it second day of trading. Tencent is rated ‘Top Buy’ in our China All-Cap Global Top Picks
European Stocks
European stocks are advancing this morning, with export-sensitive leading the move upwards in sympathy with the rally in Asia stocks overnight with on optimism that global trade tensions are declining
The Euro Stoxx 600 is currently up +0.22%, the FTSE 100 is higher by +0.26%, the DAX has advanced +0.26%, and the CAC 40 has risen +0.3%
Investor sentiment for European stocks is positive with the advance/decline ratio for the Euro Stoxx 600 currently at 2.02x
Automobiles & Parts (+0.89%), Basic Resources (+0.8%), and Travel & Leisure (+0.69%) stocks are the top performers in the Euro Stoxx 600 today
Retail (-0.24%), Health Care (-0.18%), and Banks (+0.02%) stocks are the worst performers in the Euro Stoxx 600 today
39 stocks in the Euro Stoxx 600 are at 4-week highs while 78 stocks are at 4-week lows
13 stocks in the Euro Stoxx 600 are overbought while 52 stocks are oversold according to the 16-day RSI Measure
VSTOXX, the European stocks equivalent of the VIX, is little changed this morning and is currently at 14.18 after closing at 14.59 yesterday
EUR€ is currently little changed against the USD$ at 1.1701
GBP£ is currently little changed against the USD$ at 1.3126
CHF is currently little changed against the USD$ at 1.0369
The GBP is nearing a 6-week high following comments by Bank of England (BOE) Governor Mark Carney that interest rates may rise if there is a no-deal BREXIT
German 10-Year Bunds are lower with yields up 1.6 basis points to 0.439%
UK 10-Year GILTs are lower with yields up 2.8 basis points to 1.532%
Asian Stocks
Asian stocks continue their bounce back overnight, with the biggest 2 day gain since January 2017
An apparent cooling of Sino-US trade tensions has helped put a bid back into Hong Kong Stocks
August 2018 Industrial Production and Retail sales came in above expectations
The Nikkei 225 finished up +1.2%, the Hang Seng ended up +1.01%, the Hang Seng China Enterprise up +0.69%, and the CSI 300 was +0.17%
Investor sentiment for Japanese stocks finished positive with the advance/decline ratio for the Nikkei 225 closing at 3.33x
53 stocks in the Nikkei 225 hit 4-week highs while 24 stocks reached 4-week lows
24 stocks in the Nikkei 225 closed overbought while 17 stocks closed oversold according to the 16-day RSI Measure
Investor sentiment for Hong Kong stocks finished positive with the advance/decline ratio for the Hang Seng closing at 6.14x
4 stocks in the Hang Seng hit 4-week highs while 2 stocks reached 4-week lows
3 stocks in the Hang Seng closed overbought while 3 stocks closed oversold according to the 16-day RSI Measure
Japan 10-Year Government Bonds are lower with yields up 0.6 basis points to 0.118%
JGBs 2s-10s Spread has widened 0.5 basis points to 0.22%
JPY¥ is currently little changed against the USD$ at 111.78
Head to WRC+ for full live coverage of every single stage, subscription cost: €8.99 (Use code WRC18ASI for a free month)
RedBullTV also offer 1 live stage + daily highlights free of charge.
WRC's youtube channel will offer short 3/4 minute highlight videos sporadically throughout the weekend.
General Information
The event will run from 25-28 January from a service base in the town of Gap, which has hosted the rally for the past four years. The route is 50% different to last year's and, as usual, follows an itinerary that is unique in the WRC. After two-and-a-half days of recce from Monday, competitors will tackle shakedown on Wednesday afternoon in Gap, before transferring south to Monaco. Casino Square in Monte-Carlo will host the start ceremony on Thursday from 1750hrs and the crews will immediately head to two night stages in the Alpes-de-Haute-Provence region as they make their way back to Gap for the overnight halt. Thoard – Sisteron (SS1 - 36.69km) will be run in the reverse direction for the first time while Bayons – Bréziers (SS2 - 25.49km) is in the same format as 2017. On Friday, crews will tackle 144km of stages in the Hautes-Alpes, Drôme and Alpes-de-Haute-Provence regions south of Gap. The longest day of the rally comprises two loops of the same three stages: Vitrolles – Oze (SS3/6 - 26.72km), Roussieux – Eygalayes (SS4/7 - 30.54km) and Vaumeilh – Claret (SS5/8 - 15.18km). The action shifts north of Gap on Saturday, with stages based in the Isère and Hautes-Alpes regions. The leg begins with a double loop consisting of Agnières-en-Dévoluy – Corps (SS9/11 - 29.16km) followed by Saint-Léger-les-Mélèzes – La Bâtie-Neuve (SS10/12 - 16.87km). Crews will then head south again and repeat Thursday's Bayons – Bréziers (SS13 – 25.49km) stage - this time in daylight - before a final visit to the service park in Gap and a long evening drive back to Monaco. Sunday's final leg features four stages in the Alpes-Maritimes that total 63.98km and are run without a service. Drivers will twice tackle La Bollène-Vésubie - Peïra-Cava (SS14/16 - 18.41km) - which includes the iconic Col de Turini - and the all-new La Cabanette – Col de Braus (SS15/17 - 13.58km) which on the second pass will count as the rally-closing live TV Power Stage. The event wraps up in traditional fashion when after a total distance of 388.59km the winning crews will be honoured at a prize giving ceremony in front of Monaco's Prince’s Palace from 1500hrs.
Entrants
WRC
Sebastien Ogier - M-Sport (Ford) Elfyn Evans - M-Sport (Ford) Byran Bouffier - M-Sport (Ford) Andreas Mikkelsen - Hyundai Thierry Neuville - Hyundai Dani Sordo - Hyundai Jari-Matti Latvala - Toyota Ott Tanak - Toyota Esapekka Lappi - Toyota Kris Meeke - Citroen Craig Breen - Citroen
WRC2
Eric Camilli - M-Sport (Ford) Teemu Sunninen - M-Sport (Ford) Jan Kopecky - Skoda Kevin Abbring - Ford Privateer Guillaume De Mevius - Peugeot Privateer Eddie Sciessere - Citroen Privateer
After Thursday evening’s glamorous Monte-Carlo start in Casino Square, two tough stages in darkness in the Alps punctuate the run up to Gap.
Two loops of three tests north of the town form a compact but lengthy Friday, which contains 160km of against-the-clock action.
Equally gruelling third leg on Saturday features five more stages near Gap, before the last service of the rally there and a long journey back to Monaco.
Sunday’s finale, as is traditional, runs in the Alpes Maritimes mountains above the Principality and features two passes over the legendary Col de Turini.
Challenge
Essentially an asphalt rally but unpredictable mountain weather brings varied conditions.
Competitors must expect snow, ice and dry asphalt - often encountering all in the same stage.
They must balance the need for grip in winter weather with that required for dry asphalt.
Shrewd tyre selection providing the best compromise for frequently changing conditions is key.
Experience and the ability to ‘read’ conditions is vital.
Car spec
Asphalt suspension.
Wacky tyre selections which can include studded tyres on opposite corners of the car, matched with dry weather rubber. Two spare tyres is normal.
Additional light pods for Thursday’s night stages.
History
Rallye Monte-Carlo is the WRC’s jewel in the crown and the oldest in the calendar.
First run in 1911, it was designed to promote Monte-Carlo as a tourist destination, with competitors starting from different European cities before gathering in Monaco.
The 1966 rally became famed for its controversial outcome when giant-killing Mini Coopers claimed the top three places before being disqualified for alleged infringements of headlight regulations.
What’s new for 2017
More than 85 per cent of the route will be new compared to 2016. No service on Sunday morning. The final opportunity to tweak cars wil
l be in Gap on Saturday afternoon, with a tyre fitting zone in Monaco before Sunday’s action.
Sunday afternoon’s live TV Power Stage will offer bonus points to the five fastest drivers for the first time.
Don’t miss
The 2017 World Rally Cars! It’s the first opportunity to see the more powerful, bigger and more aggressive new-era cars on the stages.
Col de Turini. One of the sport’s iconic locations, where enormous crowds will gather to watch competitors cross the mountain summit in the La Bollene Vesubie – Peira Cava test in the final leg. An incredible atmosphere and a ‘must-do’ for visitors.
Sunday’s finish outside the Palace in Monaco, with monarch Prince Albert presenting the prizes.
After Thursday evening’s glamorous Monte-Carlo start in Casino Square, two tough stages in darkness in the Alps punctuate the run up to Gap.
Two loops of three remote tests south of the town form a compact but tiring Friday, which contains almost 145km of against-the-clock action.
Equally gruelling third leg on Saturday features five more stages, all but one north of Gap, before the last service of the rally there and a long journey back to Monaco.
Sunday’s finale, as is traditional, runs in the Alpes Maritimes mountains above the Principality and features two passes over the legendary Col de Turini.
Iconic Stage
Col de Turini. One of the sport’s iconic locations, where enormous crowds will gather to watch competitors cross the mountain summit in the La Bollene Vesubie – Peira Cava test in the final leg. An incredible atmosphere and a ‘must-do’ for visitors.
Challenge
Essentially an asphalt rally but unpredictable mountain weather brings varied conditions.
Competitors must expect snow, ice and dry asphalt - often encountering all in the same stage.
They must balance the need for grip in winter weather with that required for dry asphalt.
Shrewd tyre selection providing the best compromise for frequently changing conditions is key.
Experience and the ability to ‘read’ conditions is vital.
Car spec
Asphalt suspension.
Wacky tyre selections which can include studded tyres on opposite corners of the car, matched with dry weather rubber.
Two spare tyres is normal.
Additional light pods for Thursday’s night stages.
History
Rallye Monte-Carlo is the WRC’s jewel in the crown and the oldest in the calendar.
First run in 1911, it was designed to promote Monte-Carlo as a tourist destination, with competitors starting from different European cities before gathering in Monaco.
The 1966 rally became famed for its controversial outcome when giant-killing Mini Coopers claimed the top three places before being disqualified for alleged infringements of headlight regulations.
What’s new for 2018
Fifty per cent of the route will be new compared to 2017.
Thursday night’s classic Thoard - Sisteron stage over the Col de Fontbelle will be contested in that direction for the first time in WRC history.
Don’t miss
The 2018 WRC season opening in Monaco’s Casino Square.
Thursday night’s opening two special stages – a rare opportunity to experience the magical atmosphere, sights and sounds of WRC competition in darkness.
Gap service park. Watch the teams work against the clock to prepare their cars for the following day’s action in Thursday, Friday and Saturday’s end-of-day 45-minute service.
Sunday’s finish outside the Palace in Monaco, with monarch Prince Albert presenting the prizes.
After Thursday evening’s Monte-Carlo start outside the Casino, two stages in darkness near Digne-les-Bains punctuate the run north to Gap. Three stages in the Hautes Alpes and Isère regions, north of Gap, form Friday’s action.
Competitors return to Monaco on Saturday via two passes of the marathon 51.55km Lardier et Valença – Faye and the classic Sisteron – Thoard.
Sunday’s final leg, as is traditional, runs in the Alpes Maritimes mountains above Monaco and features the legendary Col de Turini.
Challenge
Essentially an asphalt rally but unpredictable mountain weather brings varied conditions.
Competitors must expect snow, ice and dry asphalt - often encountering all in the same stage.
They must balance the need for grip in winter weather with that required for dry asphalt.
Shrewd tyre selection providing the best compromise for frequently changing conditions is key.
Experience and the ability to ‘read’ conditions is vital.
Car spec
Asphalt suspension.
Strange tyre selections which can include studded tyres on opposite corners of the car matched with dry weather slick rubber.
Two spare tyres is normal.
Additional headlight pods for thursday´s night stages.
History
Rallye Monte-Carlo is the WRC’s jewel in the crown and the oldest in the calendar.
First run in 1911, it was designed to promote Monte-Carlo as a tourist destination, with competitors starting from different European cities before gathering in Monaco.
The 1966 rally became famed for its controversial outcome when giant-killing Mini Coopers claimed the top three places before being disqualified for alleged infringements of headlight regulations.
What’s new for 2016
Each day includes a new stage compared to the 2015 rally.
Friday’s night’s 20.23km Barles – Seyne test has never been run in this direction.
Saturday’s Saint Leger les Mélèzes – La Batie Neuve stage crosses the Ancelle ski slopes.
Only the top 60 classified competitors will start Sunday’s final leg.
Don’t miss
Col de Turini. One of the sport’s iconic locations, where enormous crowds will gather to watch competitors cross the mountain summit in the La Bollene Vesubie – Peira Cava test in the final leg. An incredible atmosphere and a ‘must-do’ for visitors.
Sunday’s finish outside the Palace in Monaco, with monarch Prince Albert presenting the prizes.
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