Opening Bell 11.03.2014

Your world at 9am

world markets 2014-03-11

Equities

Major
DAX(DEU) -0.91%
CAC(FRA) +0.10%
UKX(GBR) -0.35%
NKY(JPN) +0.74%
SPX(USA) -0.05%
MINTs
JCI(IDN) +0.19%
INMEX(MEX) -0.74%
NGSEINDX(NGA) +0.57%
XU030(TUR) -0.77%
BRICS
IBOV(BRA) -1.54%
SHCOMP(CHN) +0.27%
NIFTY(IND) +0.16%
INDEXCF(RUS) +0.10%
TOP40(ZAF) -1.09%

Currencies

USDEUR:+0.06% USDJPY:+0.01%

MINTs
USDIDR(IDN) -0.07%
USDMXN(MEX) +0.10%
USDNGN(NGA) +0.44%
USDTRY(TUR) +0.02%
BRICS
USDBRL(BRA) +0.41%
USDCNY(CHN) -0.10%
USDINR(IND) -0.40%
USDRUB(RUS) -0.26%
USDZAR(ZAF) +0.04%

Must reads

MODIfied for sure. While other EM markets head south on slow-down jitters, India is making new highs. Some links that put it in perspective:

Will investors’ passage to India end in tears? (FT)

Benchmark iron ore delivered into China dropped 8.3% to an 18-month low of $104.70 a tonne on Monday. The price of iron ore has plunged 22% since the start of the year as concerns about slowing economic growth in China, which consumes two-thirds of the world’s seaborne iron ore, have intensified. That has taken it into a bear market, defined as a 20% drop from a recent peak. (FT)

The copper market is spooked. After falling 4% on Friday, the red metal tumbled as much as 2.6% on Monday on the LME. (FT)

EM central banks have hiked interest rates to defend their depreciating currencies. This in turn has reduced the willingness of consumers to borrow to buy consumer goods. That, in turn, has hit consumer stocks. (FT)

Good luck!

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