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Reports

US stock market, economy and companies update (January 28, 2015)

January 28, 2015, Wednesday
 US equities saw modest gains in the premarket thanks to a handful of robust corporate earnings reports, although indices have moved lower mid-morning. No major revelations are expected from the FOMC decision later today. As of writing, the DJIA is up 0.20%, the S&P500 is down 0.13% and the Nasdaq is up 0.22%.

European stock market, economy and companies update (January 28, 2015)

January 28, 2015, Wednesday
Singapore becomes the 9th central bank to ease monetary conditions in recent weeks. Austral Q4 CPI hits a 2-year low but the Trimmed Mean comes in higher than expectations and tempers potential RBA rate cut calls. Germany Feb GfK Consumer Confidence hits its highest level since Nov 2001 (9.3 vs. 9.1e). Greece PM Tsipras reiterated his view to negotiate debt relief; Greek yields continue to rise

Russian stock market daily morning report (January 28, 2015, Wednesday)

January 28, 2015, Wednesday
Fed posting results of its session will be the major event of Wednesday. However, the Russian market might experience the effect of it not earlier than Thursday. Within the recent months, a wide range of macroeconomic estimates indicates deceleration of the US economy recovery rates. Easing of the oratory of Fed regarding the prospects of the rates upping at the given background might be a reason of growth at the global exchange grounds after the results of the session are released.

UK stock market morning note (January 28, 2015)

January 28, 2015, Wednesday
 The FTSE 100 is called to open higher this morning despite the mixed overnight performances on Wall Street and in Asia. The economic diary today sees the release of the FOMC statement at 7.00pm UK time which will be analysed for any further insights on the direction of US interest rates this year. Commodity prices are mixed and on the foreign exchanges, the dollar is slightly higher against the pound, euro and yen but all are within narrow trading ranges ahead of the Federal Reserve statement this evening.

Asian stock market, economy and companies update (January 28, 2015)

January 28, 2015, Wednesday
Australian dollar - one of the biggest victims to the 7-month-old USD advance - got some temporary relief from today's quarterly inflation figures. With the case for renewed RBA easing as early as next meeting in early February, the trimmed mean (core) levels held above the 2% floor of the central bank's target range, even though the headline CPI fell to new 2-year lows. ABS noted that most most significant price rises this quarter were for domestic holiday travel and accommodation, while fuel and electronics showed predictable outsized declines.

UK stock market commentary (January 28, 2015): Doves keep soaring

January 28, 2015, Wednesday
 European equities are set to bounce with gains expected on the open. Despite weak economic data and concerns over Greece dragging down markets yesterday, market sentiment has done an about face overnight and is expected to shrug off any negatives cues thrown at it this morning. A possible source of resilience will be the fact that central banks that entertained the idea of hiking rates this year such as the BoE and Fed, following yesterday’s weak GDP and Durable Goods orders respectively, a sure to put any hawkish thoughts on the back burner with estimates once again getting pushed further and further out.

News

Global Outlook

Lies And Deception In Ukraine's Energy Sector

January 28, 2015, Wednesday
The Ukrainian government has repeatedly claimed it is doing its best to improve the oil and gas investment climate, but official statements are the opposite of the reality, as Prime Minister Arseniy Yatsenyuk is leading the great deception.

Random thoughts on a cruise to nowhere

January 28, 2015, Wednesday
We have lost our way as a people and a country when we ignore and/or fail to see the significance of history. King Abdullah and his father King Abdul Aziz al Saud were titans of the modern day middle east that so affected us all. I read about his death in the B section of the local paper after a story about our local nursing home under new management. God, Allah, Adonai ... please help us all.

Oil Prices Changing The Face Of Global Geopolitics

January 27, 2015, Tuesday
In a documentary that aired recently on the Canadian Broadcasting Corporation's popular The Fifth Estate program, an allegory of Vladimir Putin was presented. The wily Russian president was described growing up in a shabby St. Petersburg apartment, where he would often corner rats.

Tsunamis Most Often Come Without Warning

January 23, 2015, Friday
On Thursday, January 15th, the Swiss National Bank (SNB) discontinued its three year effort to maintain its minimum currency floor of the Swiss franc. In a single day the move sent the Swiss Franc (SWF) climbing a massive 21% against the U.S. dollar and 41% against the euro. The move sent shockwaves of unprecedented ferocity through the massive foreign exchange (FX) market, which is by far the largest, and most highly levered, trading market in the world.

Recommendations

South Indian Bank 3QFY2015 performance highlights and results update

January 27, 2015, Tuesday
South Indian Bank has reported a weak set of numbers for 3QFY2015. Its PAT for the quarter de-grew by 37.8% yoy, primarily on account of lower net interest income (NII) and higher provisioning. During 3QFY2015, the bank’s advances and deposits grew at a moderate pace of 9.2% and 8.5% yoy, respectively. Within advances, retail advances de-grew by 13.1% yoy. Gold loans, which form a part of retail advances, de-grew by 32.5% yoy, thus leading to a de-growth in retail advances.

Rallis India 3QFY2015 performance highlights and results update

January 27, 2015, Tuesday
Rallis India (Rallis) posted a disappointing set of numbers for 3QFY2015. On the top-line front, it reported a de-growth of 2.8% yoy to Rs.385cr. Sales were impacted by a lower kharif yield and lower prices of key crops. On the operating front, the company reported an EBITDA margin of 11.9% V/s 12.9% in 3QFY2014, a dip of 100bp yoy. This was inspite of the gross margin expanding by 588bps yoy for the quarter to 46.8%.