Early Morning Traders Brief

Early Morning Traders Brief

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Market View

Financial spreadbetters expect London’s FTSE to open 1 point lower at 5,853, Frankfurt’s DAX to open 5 points higher at 10,611 anParis’ CAC to open 2 points lower at 4,431.

Asian shares pared early losses after Chinese exports proved far stronger than even bulls had imagined, while U.S. bond investors
were still daunted by the staggering amount of new debt set to be sold in coming weeks.

Oil prices steadied as data showed China’s crude imports rebounded, but market watchers expect gains to be capped by the glut in
supplies as the coronavirus pandemic crushes global fuel demand.

Market Snapshot

Global Top News

U.S. President Donald Trump said on Wednesday he would be able to report in about a week or two whether China is fulfilling its obligations under a Phase 1 trade deal the two countries signed in January before the coronavirus spread globally.

U.S. Secretary of State Mike Pompeo on Wednesday renewed his aggressive criticism of China, blaming it for the deaths of hundreds
of thousands of people from the coronavirus and demanding again that it share information about the outbreak.

China’s exports unexpectedly rose in April for the first time this year, taking some pressure off manufacturers in the world’s secondlargest
economy after the coronavirus pandemic battered demand and disrupted manufacturing supply chains.

European Company News

The United States told the World Trade Organization on Wednesday there was “no valid basis” for the European Union to retaliate against U.S. goods since it has fully complied with WTO findings that Washington state’s now-repealed tax breaks for Boeing were illegal.

The British units of Liberty Global and Telefónica will merge in a deal worth 24 billion pounds, the Financial Times reported.

Novartis on Wednesday priced its treatment for a hard-to-treat form of lung cancer at the U.S. wholesale acquisition cost of $17,950 for a 28-day supply, following the drug’s approval by regulators.

Todays Company Announcements

3I Infrastructure PLC FY 2020 Earnings Release
Acciona SA Q1 2020 Earnings Release
Acteos SA Annual Shareholders Meeting
Agrana Beteiligungs AG FY 2020 Earnings Call
Air France KLM SA Q1 2020 Earnings Call
Anheuser Busch Inbev NV Q1 2020 Earnings Call
ArcelorMittal SA Q1 2020 Earnings Call
Atento SA Q1 2020 Earnings Release
Atlantica Yield PLC Q1 2020 Earnings Call
Autoliv Inc Annual Shareholders Meeting
BAE Systems PLC Annual Shareholders Meeting
Banca Intermobiliare di Investimenti e Gestioni SpA Annual Shareholders Meeting
Banca Mediolanum SpA Q1 2020 Earnings Call
Banca Monte dei Paschi di Siena SpA Q1 2020 Earnings Call
Banco BPM SpA Q1 2020 Earnings Call
Barclays PLC Annual Shareholders Meeting
BayWa AG Q1 2020 Earnings Call
Biogaia AB Annual Shareholders Meeting
Boule Diagnostics AB Annual Shareholders Meeting
Brenntag AG Q1 2020 Earnings Call
BT Group PLC FY 2020 Earnings Call
Cellectis SA Q1 2020 Earnings Call
Compugroup Medical SE Q1 2020 Earnings Call
Condor Gold PLC Annual Shareholders Meeting
Continental AG Q1 2020 Earnings Call
ConvaTec Group PLC Annual Shareholders Meeting
Covivio Hotels SCA Annual Shareholders Meeting
CTT Correios de Portugal SA Q1 2020 Earnings Call
d’Amico International Shipping SA Q1 2020 Earnings Call
Electricite de France SA Annual Shareholders Meeting
Electrolux AB Q1 2020 Earnings Call
Electromagnetic Geoservices ASA Q1 2020 Earnings Call
Elringklinger AG Q1 2020 Earnings Call
Endo International PLC Q1 2020 Earnings Call
Equiniti Group PLC Annual Shareholders Meeting
Galapagos NV Q1 2020 Earnings Release
GasLog Ltd and GasLog Partners LP Q1 2020 Earnings Call
Godewind Immobilien AG Annual Shareholders Meeting
Grieg Seafood ASA Q1 2020 Earnings Call
H & M Hennes & Mauritz AB Annual Shareholders Meeting
HeidelbergCement AG Q1 2020 Earnings Call
Howden Joinery Group PLC Annual Shareholders Meeting
Humana AB Q1 2020 Earnings Call
InterContinental Hotels Group PLC Annual Shareholders Meeting
International Consolidated Airlines Group SA Q1 2020 Earnings Call
John Laing Group PLC Annual Shareholders Meeting
JPMorgan American Investment Trust PLC Annual Shareholders Meeting
KBC Groep NV Annual Shareholders Meeting

Liberty Global PLC Q1 2020 Earnings Call
Loomis AB Q1 2020 Earnings Call
Maire Tecnimont SpA Q1 2020 Earnings Call
Melia Hotels International SA Q1 2020 Earnings Release
Metro AG Q2 2020 Earnings Call
Metso Oyj Q1 2020 Earnings Call
Mondi PLC Annual Shareholders Meeting
Moneysupermarket.Com Group PLC Annual Shareholders Meeting
Morgan Advanced Materials PLC Annual Shareholders Meeting
National Express Group PLC Annual Shareholders Meeting
Natixis SA Q1 2020 Earnings Call
OneSavings Bank PLC Annual Shareholders Meeting
Orion Engineered Carbons SA Q1 2020 Earnings Release
Prosiebensat 1 Media SE Q1 2020 Earnings Call
Provident Financial PLC Annual Shareholders Meeting
Puma SE Annual Shareholders Meeting
Rathbone Brothers PLC Annual Shareholders Meeting
Reach PLC Annual Shareholders Meeting
Recipharm AB (publ) Q1 2020 Earnings Call
Rolls-Royce Holdings PLC Annual Shareholders Meeting
RSA Insurance Group PLC Annual Shareholders Meeting
Scottish Mortgage Investment Trust PLC Extraordinary Shareholders Meeting
Securitas AB Annual Shareholders Meeting
TDC A/S Q1 2020 Earnings Call
Techstep ASA Q1 2020 Earnings Call
Telefonica SA Q1 2020 Earnings Call
Trainline PLC FY 2020 Earnings Release
Transocean Ltd Annual Shareholders Meeting
Uniper SE Q1 2020 Earnings Call
Unite Group PLC Annual Shareholders Meeting
VEON Ltd Q1 2020 Earnings Call
Verbio Vereinigte Bioenergie AG Q3 2020 Earnings Release
Yara International ASA Annual Shareholders Meeting
Zalando SE Q1 2020 Earnings Call

Economic Events

0545 Switzerland Unemployment Rate Unadjusted for Apr: Expected 3.3%; Prior 2.9%.

0545 Switzerland Unemployment Rate Adjusted for Apr: Expected 3.3%; Prior 2.8%.

0600 (approx.) Germany Industrial Output mm for Mar: Expected -7.5%; Prior 0.3%

0600 (approx.) Germany Industrial Production yy SA for Mar: Prior -1.25%.

0600 (approx.) United Kingdom BOE Bank Rate for May: Expected 0.10%.

0600 (approx.) United Kingdom BOE QE Gilts for May: Expected 625 bln GBP.

0600 (approx.) United Kingdom BOE QE Corp for May: Expected 20 bln GBP.

0600 (approx.) United Kingdom BOE MPC Vote Hike for May: Expected 0; Prior 0.

0600 (approx.) United Kingdom BOE MPC Vote Unchanged for May: Expected 9 ; Prior 9.

0600 (approx.) United Kingdom BOE MPC Vote Cut for May: Expected 0; Prior 0.

0645 France Current Account for Mar: Prior -3.8 bln EUR.

0645 (approx.) France Current Account – Balance NSA for Mar: Prior -5.06 bln EUR.

0645 France Industrial Output mm for Mar: Expected -12.4%; Prior 0.9%.

0645 France Industrial Investment (Current Year) for Q2: Prior 3%.

0645 France Non-Farm Payrolls qq for Q1: Prior 0.4%.

0645 France Trade Balance SA for Mar: Prior -5.22 bln EUR.

0645 France Imports for Mar: Prior 47.58 bln EUR.

0645 France Exports for Mar: Prior 42.360 bln EUR.

0700 (approx.) Switzerland Forex Reserves for Apr: Prior 765,626.00 mln CHF.

0700 (approx.) Austria Wholesale Prices NSA mm for Apr: Prior -3.2%.

0700 (approx.) Austria Wholesale Prices NSA yy for Apr: Prior -4.7%.

0730 Germany IHS Markit Cons PMI for Apr: Prior 42.0.

0730 France IHS Markit Cons PMI for Apr: Prior 35.2.

0730 (approx.) United Kingdom Halifax House Prices mm for Apr: Expected -0.7%; Prior 0.0%.

0730 (approx.) United Kingdom Halifax House Prices yy for Apr: Prior 3.00%.

0730 Italy IHS Markit Cons PMI for Apr: Prior 15.9.

0730 Sweden House Prices for Apr: Prior -1%.

0730 Euro Zone IHS Markit Cons PMI for Apr: Prior 33.5.

0800 (approx.) Italy Retail Sales SA mm for Mar: Prior 0.80%.

0800 (approx.) Italy Retail Sales NSA yy for Mar: Prior 5.70%.

0900 (approx.) Greece Unemployment Rate for Feb: Prior 16.4%.

2301 (approx.) United Kingdom GfK Consumer Confidence (Extra) for Apr: Prior -34.

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