With unstinting focus on client objectives and capital preservation, Avems Investments provide high-touch investment expertise that centres on diversified solutions and a service-led approach to portfolio management. Our investment process is as disciplined as it is creative – ensuring tailored solutions with robust results.
Investor Morning Preview - Wednesday 13th September 2017 | Avem Capital
Asian stocks are trading mixed this morning. S&P/ASX 200 index is trading flat, Kospi was up 0.20%, and Japan’s Nikkei was up 0.45%. Hong Kong Index fell 0.32% and China’s Shanghai index rose 0.10%. FTSE 100 futures are trading down 0.23%.
Japan’s BSI large manufacturing conditions for the third quarter came at 9.4, it beat the analysts median forecast of -2.8. Data for the last quarter was -2.9. In a separate release Japan’s annual PPI for August rose 2.9% below the median analyst forecast of 3.0%. Monthly PPI was unchanged compared to 0.3% rise for last month.
China is planning to complete a nationwide roll-out of ethanol in gasoline by 2020. Stocks related to agriculture companies moved up. Shandong Longlive Bio Technology (SHE: 002604) was up 10.02% and Cofco Biochemical Anhui Co Ltd (SHE: 000930) was up 6.86%. China is currently third largest ethanol producer in the world.
Westpac-Melbourne Institute Index of consumer sentiment rose 2.5% to 97.9 points in September from 95.5 in August. But it was lower by 3.4 points from last September. House price expectations dipped 2.8% but are positive since 57% of the consumers surveyed are expecting house prices to rise next year.
Iron ore futures are up for the second day in China as traders are ramping up buying ahead of the peak season in September and October. Some of the major Chinese steelmakers are also expected to increase prices later this month.
Corporate results today
Alliance Pharma PLC
Dunelm Group PLC
First Sentinel PLC
Apple Inc (NASDAQ: AAPL) CEO Tim Cook revealed the much awaited new iPhone X (pronounced as ten) which has an edge to edge screen. The starting price of the device is set at $999 and it comes in a 64 GB and 256 GB versions. Pre-orders are expected to start on Oct 27 and the phone will be available from Nov 3rd. The new phone will have upgrades around augmented reality, machine learning, wireless charging (you should expect wireless charging stations in hotels, cafes and airports) face id, better camera, powerful chip and OLED screen to name a few features. To sum up it has a lot more features than iPhone 7.
JP Morgan Chase & Co (NYSE: JPM) CEO speaking at the Barclays conference told that he expects roughly 20% year-on-year decline in revenue in the third quarter. Presenting at the same conference Citigroup also guided for a 15% drop in revenues.
Seadrill Ltd (NYSE: SDRL) has filed for bankruptcy protection after working out a deal with most of its senior lenders to inject $1 billion of money into the company. It would get a five year extension for $5.7 billion debt with no amortization payments due till 2020.
The dollar index was trading down 0.13% at $91.78
The euro was trading up 0.13% against the dollar.
Gold was trading up 0.19% at $1335.20
WTI Crude oil was trading flat at $48.23
Source : Investing.com
ECONOMIC CALENDAR FOR WEDNESDAY 13TH SEPTEMBER
Economic Events Preview:
Spanish harmonized consumer prices are expected to rise 2 percent in August. It rose 1.7 percent in July.
Euro zone employment change for the second quarter is expected to grow 0.3 percent q-o-q. It grew 0.4 percent in the first quarter.
Euro zone industrial production is expected to rise 3.4 percent year-on-year in July. In June it rose 2.6 percent. On a monthly basis it is expected to rise 0.1% compared to a fall of 0.6 percent in June.
UK average earnings is expected to rise 2.3 percent for the three months ending July 2017 compared to 2.1 percent rise for the three months ending June 2017. Unemployment rate is expected to remain unchanged at 4.4 percent.
US Core inflation is expected to rise 2.1 percent in August on a yearly basis. It grew 1.8 percent in June.
London Time Impact Cur Economic Event 0:50 Low JPY PPI 7:00 Med EUR German Inflation 8:00 Med EUR Spanish Inflation 9:30 High GBP Average Earnings Index 9:30 Med GBP Claimant Count Change 9:30 Med GBP Unemployment Rate 10:00 Low EUR Euro zone Employment Change 10:00 Med EUR Euro zone Industrial Production (July) 13:30 High USD US PPI 15:30 High USD Crude Oil Inventories
This document is not investment advice or intended as a recommendation to buy or sell any instrument covered with it. Although the statements within this document are believed to be correct they have not been verified by the author, or Avem Capital Limited and should not be relied upon when considering the merits of any particular investment. A recipient should consider its own financial situation, investment objectives and seek independent advice, where appropriate, before making any investment. All presented data may be subject to slight variations. Your Capital is at Risk.
Avem Capital Limited is a company registered in England and Wales under number 10683565.
The company's registered office is 3 London Wall Buildings, London EC2M 5PD.