News - 2013 03

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2013 03

Asian markets are lower this morning on concern the Euro crisis will deepen further. The Nikkei is 1% lower with the Yen stronger this morning, with Sony a standout loser down by around 4%. China has been hit harder down by around 3% with Industrial and Commercial Bank of China down 2% on concerns new wealth management product rules will hurt earnings.

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European equity futures are slightly higher as global markets benefit from better economic data. The Euro is slightly lower in early trade as concerns over the Cypriot "bail-in" continue to weigh on sentiment. Today we have German consumer confidence, French and UK GDP, and host of broad Eurozone confidence indicators.

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European equity futures are flat this morning, after posting sizeable losses yesterday having reversed on earlier gains on optimism after the deal for Cyprus was announced. Today all eyes will be on debt auctions for Italy, and look out for French consumer confidence and UK CBI sales.

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US Stock futures advance, following the S&P second weekly drop – Euro Ministers agree Cyprus has met conditions for a bailout

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Asian markets are lower this morning with the Nikkei lower by around 2% as the new BOJ governor gave no indication of fresh stimulus, with that the Yen traded higher against the dollar to teade below 95. Exporters were lower with automakers being notably lower across the sector.

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Asian markets firmer this morning with the Nikkei trading at 5 year highs, Japanese bond yields fell to their lowest level in almost a decade. Elsewhere, China released a preliminary PMI of 51.7 which was slightly better than forecasts.

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Asian stocks are firmer for choice this morning being led by China's Shanghai Composite as concerns of the Euro crisis escalating are somewhat receding. The Chinese Yuan rose to its highest level in 19 years after the PBOC set their currency reference rate at its highest level since mid January.

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Asian markets have moved higher this morning recovering most of yesterday's losses, as investors digest the Cypriot bail out deal consequences and consider it a one off. Current BOJ Governor Shirakawa steps down today, with fresh stimulus measures expected at the next meeting in a couple of weeks time.

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European equity futures are pointing to between a 1.5% and 2% fall this morning after the EU proposed a levy on Cypriot bank accounts as part of the bail out for the country, with the Euro getting hit hard falling around 1.5% versus the dollar to its lowest level of the year.

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In the US, markets closed at fresh all time highs last night as the Dow puts on the longest rally since 1996. Look out for CPI data and University of Michigan Confidence due later today.

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Asian markets are lower this morning, with China's Shanghai composite lower by around 1.1% as concerns grow over property curbs recently implemented by the government. The Yen is slightly stronger overnight currently trading at just under 96 versus the dollar.

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Asian markets are lower for choice this morning, with the Nikkei giving up early session gains despite the Yen being weaker again on BOJ minutes suggesting further easing. China is the big loser this morning lower by almost 2%.

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China is underperforming after data showed that the country's Indutrial output figures showed the weakest start to a year since 2009. Elsewhere in the region the South Korean Won fell as tensions with North Korea rose.

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In Europe, equity futures are looking slightly higher ahead of key interest rate announcements from the ECB and BOE. Cable traded below 1.5 as an increase in the UK's asset buying plan remains a possibility. Meanwhile, S&P raised Portugal from negative to stable. German factory orders are out mid morning.

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Asian markets are firmer this morning touching their highest levels in 2 years after strong US markets with the Dow reaching an all time high. Sharp rose 19% after announcing that Sansung was about to make a sizeable investment, and on the macro front Australia announced a 0.6% growth in GDP.

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