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Market Update 18/10/16

Tuesday, October 18, 2016

Disclaimer: This is an informal commentary by one of our Market Analysts. It should not be taken as investment advice and is made available only on that basis.
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U.S. equities traded lower on Monday amid falling oil prices, weak corporate earnings and hawkish remarks from Fed Vice Chair Stanley Fischer. (S&P500 -0.30%)-Utilities led by most (0.55%) while Consumer Discretionary fell by most (-0.77%). Otherwise, Telecom (+0.18%), and Materials (+0.08%) outperformed, while Cons Staples (-0.42%), and Energy (-0.44%) lagged.

All markets open today

William Hill deal called off after shareholder opposition, stock +2%.

Ryanair cutting guidance on FX, reduced FY net profit guide by 5%.

Continental cuts ’16 outlook on anti trust issues in car parts unit.

Banco Santander XD

Netflix jumped 20% after-hours trading after on strong subscriber gains. IBM fell 3% on weaker profit margins.

Asian markets are broadly higher as USD slipped and oil recovered from overnight weakness. AUD rallied.

Commodities rally, stocks rally overnight following through to Europe, talk that FED will remain accommodative. Fading prospects for interest rate cuts boost Australian and New Zealand currencies.

Tesco in UK sees better sales data from Kantar 12 week numbers., stock +2%

According to research from Savills, residential rents in Ireland could increase by between 22% and 26% over the next two years due to the mismatch between supply and demand in the housing market

Kyushu Railway in Japan traded on grey market at Yen 2800 versus float at Yen 2600. Will start official trading on the 25th.

Bloomberg article on PIMCO betting big on European bank bonds.

Europe +1%, Oil at $51.91, +0.75%, EURUSD at 1.1013.