Opening Bell 26.11.2014

Your world at 9am

world.2014-11-26

Equities

Major
DAX(DEU) +0.77%
CAC(FRA) +0.32%
UKX(GBR) +0.02%
NKY(JPN) -0.07%
SPX(USA) -0.12%
MINTs
JCI(IDN) +0.06%
INMEX(MEX) -0.58%
NGSEINDX(NGA) +0.71%
XU030(TUR) +0.35%
BRICS
IBOV(BRA) +0.28%
SHCOMP(CHN) +0.85%
NIFTY(IND) -0.79%
INDEXCF(RUS) +0.00%
TOP40(ZAF) -0.38%

Commodities

Energy
Brent Crude Oil -0.13%
Ethanol +0.00%
Heating Oil +0.65%
Natural Gas +0.68%
RBOB Gasoline +0.05%
WTI Crude Oil -0.28%
Metals
Copper +0.32%
Gold 100oz +0.09%
Palladium -0.36%
Platinum -0.37%
Silver 5000oz +0.16%

Currencies

USDEUR:+0.00% USDJPY:-0.14%

MINTs
USDIDR(IDN) +0.03%
USDMXN(MEX) +0.02%
USDNGN(NGA) +0.08%
USDTRY(TUR) +0.09%
BRICS
USDBRL(BRA) -0.63%
USDCNY(CHN) -0.04%
USDINR(IND) -0.06%
USDRUB(RUS) +2.69%
USDZAR(ZAF) +0.02%
Agricultural
Cattle +0.00%
Cocoa +0.00%
Coffee (Arabica) +3.03%
Coffee (Robusta) +0.00%
Corn +0.40%
Cotton +0.00%
Feeder Cattle +0.00%
Lean Hogs +0.00%
Lumber -0.15%
Orange Juice -0.27%
Soybean Meal +0.54%
Soybeans -0.10%
Sugar #11 +0.00%
Wheat +0.45%
White Sugar +0.00%

Credit Indices

Index Change
Markit CDX EM -0.22%
Markit CDX NA HY +0.42%
Markit CDX NA IG -2.27%
Markit CDX NA IG HVOL +0.00%
Markit iTraxx Asia ex-Japan IG -2.55%
Markit iTraxx Australia -1.75%
Markit iTraxx Europe -1.74%
Markit iTraxx Europe Crossover -9.37%
Markit iTraxx Japan +0.00%
Markit iTraxx SovX Western Europe -0.96%
Markit LCDX (Loan CDS) -0.01%
Markit MCDX (Municipal CDS) -0.20%
Was yesterday’s sell-off a reaction to SEBI’s new P-Note rules? If that is the case, then this sell-off isn’t done…

Must reads

Proposed: ban on sale of loose cigarettes, raising minimum age to buy tobacco products to 25 years. (DNA) ITC 363.40 8.00 (2.25%) GODFRYPHLP 3,035.00 63.85 (2.15%) VSTIND 1,825.00 -21.00 (-1.14%) GOLDENTOBC 36.25 -0.70 (-1.89%)

FPIs will have to combine stocks held via ODIs (mostly participatory notes) with their own holdings. The new rule may result in many FPIs breaching the 10% ownership limit in Indian companies. (LiveMint, #SEBI, #regulation)

Citi analyst identified companies, on which he had Hold or Neutral ratings, as “short” picks in “idea” dinners. (BV)

Given radical changes in the constituents of an index, is it appropriate to use the index’s historical metrics–its historical earnings, growth rates, valuations, profit margins, returns on equity, and so on–to draw conclusions about what the index’s future performance is likely to be? (PE)

Bloviators vs. experts. (KV)

Good luck!

Opening Bell 25.11.2014

Your world at 9am

world.2014-11-25

Equities

Major
DAX(DEU) +0.54%
CAC(FRA) +0.49%
UKX(GBR) -0.31%
NKY(JPN) +0.38%
SPX(USA) +0.29%
MINTs
JCI(IDN) -0.29%
INMEX(MEX) -0.13%
NGSEINDX(NGA) -0.15%
XU030(TUR) -0.16%
BRICS
IBOV(BRA) -1.21%
SHCOMP(CHN) +0.77%
NIFTY(IND) +0.62%
INDEXCF(RUS) -0.61%
TOP40(ZAF) -0.37%

Commodities

Energy
Brent Crude Oil -0.10%
Ethanol +0.00%
Heating Oil +0.05%
Natural Gas -0.43%
RBOB Gasoline -0.07%
WTI Crude Oil -0.04%
Metals
Copper +0.00%
Gold 100oz +0.00%
Palladium +0.45%
Platinum +0.31%
Silver 5000oz +0.00%

Currencies

USDEUR:+0.12% USDJPY:-0.30%

MINTs
USDIDR(IDN) +0.12%
USDMXN(MEX) +0.08%
USDNGN(NGA) +0.14%
USDTRY(TUR) +0.04%
BRICS
USDBRL(BRA) +1.21%
USDCNY(CHN) -0.04%
USDINR(IND) +0.25%
USDRUB(RUS) -2.18%
USDZAR(ZAF) +0.10%
Agricultural
Cattle +0.00%
Cocoa +0.00%
Coffee (Arabica) +0.00%
Coffee (Robusta) +0.00%
Corn +0.00%
Cotton +0.00%
Feeder Cattle +0.00%
Lean Hogs +0.00%
Lumber -0.54%
Orange Juice +2.36%
Soybean Meal +0.48%
Soybeans +0.24%
Sugar #11 -0.50%
Wheat -0.05%
White Sugar +0.00%

Must reads

State-owned banks start a bond fire. (ET, #bonds) PSUBNKBEES 445.00 -3.88 (-0.86%)

Indian entrepreneurs are more focused on the cost side of the equation than the innovation side. Jugaad is becoming a dirty word as PE funds venture into small cities for investment opportunities. (LiveMint, ET, #private equity)

Rural region accounts for only 16% of Tata Motors’s car sales. Target: 50%. (DNA) TATAMOTORS 520.90 -0.95 (-0.18%)

People have the wrong idea about buy-and-hold. (TFP, StockViz)

Good luck!