February 22nd, 2016
Daily Market Commentary
- The US Markit Manufacturing PMI was listed at 51, below estimates.
- The Eurozone Markit Manufacturing PMI was listed at 51, also below estimates.
- The Eurozone Services PMI was listed at 53, slightly below estimates.
- Crude oil rose as Russia said talks on an output freeze will be done by March 1, while Nigeria backed capping production at higher levels for two fellow OPEC members.
- The rush into gold in 2016 is gathering pace as investors seeking a haven boosted holdings to the highest level since March.
- Canadian venture investment rose 12 percent to C$2.3 billion ($1.7 billion) in 2015, thanks partly to sizable rounds for payments startup Lightspeed POS Inc. and messaging app maker Kik Interactive Inc., according to data from the Canadian Venture Capital Association.
- U.S. index futures advanced amid higher oil prices, indicating equities will extend gains after posting their strongest week since November.
- Honda Motor Co. is preparing a recall for the 2016 Civic compact in the U.S. and has ordered dealers to stop selling some versions of the car, months after beginning sales of the crucial new model.
- PayPal Holdings Inc. forged new mobile-wallet partnerships with telecommunications giants Vodafone Group Plc in Europe and America Movil SAB in Latin America, highlighting a key growth strategy for the digital-payments company after its separation from online marketplace EBay Inc.
- European stocks extended their rebound from last week, led by gains in miners, as U.K. equities climbed amid a weakening pound.
- HSBC Holdings Plc posted an unexpected fourth-quarter loss, its first since at least 2009, as revenue dropped and loans to oil and gas companies drove a jump in impairment charges.
- Volkswagen AG may have to do more than fix half-a-million cars implicated in an emissions-cheating scandal: It also could be forced to undo the environmental damage.
- Home Retail Group Plc shares rose to a seven-month high after a takeover of the Argos stores owner turned into a 1.4 billion-pound ($2 billion) contest.
- Asian stocks rose, reversing earlier losses as Chinese stocks climbed to their highest in almost a month.
*All information is taken from Bloomberg, unless otherwise noted.