May 15th, 2015
Daily Market Commentary
- Manufacturing shipments in Canada were reportedly up 2.9%, above estimates of 1.2% growth.
- Industrial production in April in the U.S. was down 0.3%, below estimates.
- The Reuters/Michigan Consumer Sentiment Index was reported at 88.6, below estimates of 96.
- Oil pared its ninth weekly advance, the longest rising streak since trading started in 1983, amid speculation the market’s rebound to $60 a barrel will sustain a global supply glut.
- Gold trimmed the biggest weekly gain in four months as investors assessed when the Federal Reserve will start raising U.S. interest rates, while buyers in India stepped up purchases.
- A Canadian securities panel has dismissed fraud allegations against short-seller Jon Carnes, who was accused of manipulating Silvercorp Metals Inc.’s stock. (Globe)
- U.S. stock-index futures rose, indicating the Standard & Poor’s 500 Index may extend an all-time high as investors await data on industrial production and consumer sentiment.
- Netflix Inc. is in talks with a Chinese media company backed by Jack Ma and other possible partners as it seeks entry into the country’s $5.9 billion online video market, according to people familiar with the matter.
- Facebook Inc. is riding roughshod over European data-protection laws, Belgium’s privacy regulator said in a report the watchdog described as “staggering.”
- European stocks rose for a second day as Roche Holding AG sent Swiss equities higher.
- Brait SE agreed to buy U.K. women’s clothing retailer New Look for 780 million pounds ($1.2 billion), the second acquisition in a month for South African billionaire Christo Wiese’s investment company.
- Barclays Plc will probably be fined for violating a three-year-old settlement over interest-rate rigging, but U.S. prosecutors will stop short of seeking a guilty plea, which they are demanding from UBS AG, people familiar with the matter said.
- The U.K. telecommunications watchdog has proposed rules that will compel BT Group Plc to open up more of its network to competitors as rivals lobby for greater access to Britain’s biggest network.
- Asian stocks rose, with the benchmark gauge heading for its first weekly advance in three weeks, as Hong Kong shares climbed on bets an exchange link with Shenzhen will start soon and Japan’s Topix index gained amid buybacks.
*All information is taken from Bloomberg, unless otherwise noted.