EU budget
talks commence today – expect nasty comments from participants. US Thanksgiving
keeping things quiet – stops might be cheap on low-volume, algo-driven day. China's PMI came out positive.
Previously on MoreLiver’s:
Roundups
The 6am Cut
London – alphaville
/ FT
Emerging
Markets Headlines – beyondbrics
/ FT
Reference
Debt crisis
live – The
Telegraph
The Euro
Crisis Blog – WSJ
FX Options
Analytics – Saxo
Bank
European
10yr Yields and Spreads – MTS indices
Economic
Calendar – Forexpros
MORNING BRIEFINGS
The release
of Flash PMIs will confirm that the Eurozone is in a recession, while the true
surprise could come from the difficult EU budget talks. Spain's bond auction could signal the
timing of an eventual bailout request.
The bearish
mood in Asia yesterday reversed overnight and Asia stepped in today, scratching their
collective heads. The reversal overnight and today’s US Thanksgiving holiday
left currency markets in a mildly comatose state. Flash China PMI
improved.
European
markets are expected to open higher Thursday tracking gains in Asian markets
and ahead of EU leaders' budget negotiations starting today. Investors are
keeping an eye on manufacturing PMI data across Europe due later today.
Key news:
Chinese PMI increased for the third month in a
row. Asian stock markets higher this morning. Market movers today: Euro area
PMIs, US Thanksgiving sales, European Council Budget meeting
Aamukatsaus – Nordea (pdf)
Kiinan teollisuuden luottamuksen piristyminen jatkuu * Hirmumyrsky
Sandy sekoittaa edelleen USA:n talouslukuja * EURUSD ja Saksan korot nousuun
vahvistuneiden Kreikka-odotusten myötä
Aamukatsaus – Tapiola
(pdf)
Osakemarkkinoilla eilen maltillisen positiiviset tunnelmat. Aamulla
julkaistu Kiinan teollisuuden ostopäällikköindeksin ennakko indikoi talouden
palanneen kiihtyvän kasvun uralle.
Osakefutuurit plussalla, indikoiden nousuavausta. Omaan
historiaansa parhaiten tuottavat OMX HEX
-osakkeet (E/P -mittarilla): Edullinen arvostus (eli parhaiten tuottavat):
Finnair, Ramirent, Cramo, F-Secure ja Outotec. Kallis arvostus (eli heikoiten
tuottavat): Nokia, Outokumpu, Rautaruukki, Kone ja Ahlström.
Markkinakalenteri – Nordnet
Markkinakalenteri – Taloussanomat
EUROPE
If Greek talks are tough, check out the EU
budget – MacroScope
/ Reuters
If You Thought 2012 Was Tough For European
Bonds.. – ZH
UNITED STATES
US Manufacturing stabilizing; margins may be at
risk – Sober
Look
ASIA
CHINA PMI
PMI suggests recovery gaining strength – Danske
Bank (pdf)
PMIs moved
into 50+ this month but the components... – alphaville / FT
Chinese
economy gradually gaining momentum – Nordea
PMI shows first expansion in a year in November – ASA
PMI – green shoots sprout – beyondbrics
/ FT
A turnround
* –alphaville
/ FT