Discretionary Personal Goods equity research

Explore the most viewed and latest equity research and media content for companies within the Discretionary Personal Goods sector. Stocks in this sector sell goods like tobacco, accessories, toys, and electronic etc.

Discretionary Personal Goods equity research

Explore the most viewed and latest equity research and media content for companies within the Discretionary Personal Goods sector. Stocks in this sector sell goods like tobacco, accessories, toys, and electronic etc.

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Breakfast Today

  • 21 Apr 17

Trumponomics went centre stage again yesterday evening as US Treasury Secretary, Steven Mnuchin, picked up Donald Trump's campaign baton. During a speech at the Institute of International Finance Washington Policy Summit, he declared his confidence that the country's citizens will soon be enjoying the most significant tax code changes since Ronald Reagan. Promising much fewer tax brackets for individuals, he confirmed the sweeping proposals are now a top priority for the President. Mnuchin also expects to release a 'Regulatory Relief' report in early June and hopes the debt ceiling will be raised 'before the summer'. Telling his audience that whether or not the Healthcare Bill become law, "we're going to get tax reform done". Markets, of course, love such reflationary talk, even if many consider such plans are already jeopardised by failure to date to get any significant part of the President's revolutionary agenda through Congress. US stock indices nevertheless were climbing way before he spoke on Thursday, on the back of gains in financials and industrials. All three principal US indices rose broadly and convincingly, led by the NASDAQ on its way to achieving a new all-time high, as American Express added 5.4% having posted a smaller decline in profits than expected, while Industrials were also buoyant helped by CSX Corp spiking 6.8% as it exceeded Wall Street forecasts. Stabilising oil prices also helped sentiment, with US crude pushing 0.2% higher to $50.94 a barrel during the US session, after Saudi Arabia's energy minister said the Organization of the Petroleum Exporting Countries is likely to reach an agreement to extend existing production cuts into the second half of the year. Asian equities picked up this improving confidence, with the Nikkei opening at its highest of the week and going on to gain more than 1% while the US$:Yen pared losses. The ASX followed behind and Hang Seng remained in positive territory, leaving just the Shanghai Composite once again nursing minor losses in continuing response to the Chinese government's efforts to curb speculative trading in the highly volatile index. Whether last night's presumed terrorist shooting on the Champs-Élysées might knock today's European opening, or change voting intentions ahead of Sunday's Presidential poll, remains to be seen. The STOXX Europe 600 had ended higher Thursday afternoon, led by the CAC-40, as investors become increasingly convinced independent centrist Emmanuel Macron will succeed in becoming the country's new leader, while Eurozone consumer confidence improved for a second straight month in April, as the flash index rose to -3.6 from -5. UK macro releases today include March Retail Sales figures, while the EU provides its February Current Account and Markit Manufacturing and Composite PMI for April. The US also releases its own April Markit data, Existing Homes Sales and the Baker Hughes US Oil Rig Count. FOMC Member Neel Karkashi is also due to make a speech. UK corporates due to release earnings or trading updates today include Close Brothers (CBG.L), Record (REC.L) and Bonmarche Holdings (BON.L). An unsettled background will leave London investors somewhat perplexed this morning, as they try to weight ramifications both of latest news and anticipations ahead of Sunday's important vote. The FTSE-100 is seen simply hitching a ride on the overnight markets, with an opening gain of 5 to 10 points.

Breakfast Today

  • 20 Apr 17

Having seen Theresa May secure overwhelming majority support for a June 8th General Election, international traders also regained confidence enough to start unloading some the safe-haven investments they had accumulated in recent days. Gold stocks, for example, moved sharply lower following a slump in the precious metal's price for June delivery, while Treasuries gave ground sufficient for the 10-year yield to rise back to 2.209%. Not that its now 'risk-off' by any means. With investor focus presently at least focussed on blue-chip corporate results, US equities closed modestly mixed overnight. The Dow Jones found itself pressurised by tumbling IBM Corp. shares, which fell as much as 5.8% to their lowest level in over four months on quarterlies detailing weaker than expected revenues. This contrasted with upbeat earnings from Morgan Stanley a day after Goldman Sachs had left investors disappointed, while the NASDAQ found support from Yahoo, which is in the process of selling its core internet business to Verizon, delivering results ahead of estimates. The energy sector also slumped 1.4%, its fifth drop in six sessions, as oil prices settled nearly 4% lower following a smaller than expected decline in US crude stocks. With concerns of geopolitical tensions being temporarily put to the back of traders' minds, the US$ bounced convincingly off its five-month lows early Thursday morning, dismissing Trump's efforts to talk the currency down and reflecting instead on a Fed Futures indicating a 48.5% chance of another rate hike at the June FOMC meeting. London equities stood out from the bulk of European markets on Wednesday to end lower, weighted down by the re-strengthened Pound along with disappointment from a few large caps, including Burberry (BRBY.L) which sank almost 8% after a cautionary statement. The FTSE100 was also knocked by weak base and precious metals stocks which, despite good performances from supermarkets, travel companies and housebuilders providing some respite, means the index has now given back all its gains for 2017. Elsewhere, Europe was helped by new opinion polls confirming centrist independent Emmanuel Macron is retaining his lead ahead of Sunday's first round voting in the French Presidential Election, which was enough to edge the Stoxx Europe 600 up by 0.29%. Confidence here will be supported further this morning, following top ECB officials cautioning against reducing monetary stimulus too soon, suggesting the Central Bank will hold course at its April 26th - 27th policy meeting despite early signs of improvement in the eurozone economy. Asia equities recovered much of their losses from the previous session. Broad gains were led by the Nikkei, recording its fourth daily gain as the region continued to benefit from safety-first Yen investment, with the ASX and Hang Seng making positive similar moves, leaving only the highly volatile Shanghai Composite to close fractionally lower as locals responded to a new government clampdown on speculative trading. The UK today is only expecting a speech in Washington from the Governor of the Bank of England, Mark Carney, while macro releases due from the EU include April Consumer Confidence data. The US is scheduled to detail Initial Jobless and the Philadelphia Fed Manufacturing Survey, while the Treasury Secretary, Steve Mnuchin, is also due to make a speech. UK corporates due to publish earnings or trading updates include Acacia Mining (ACA.L), Debenhams (DEB.L), Unilever (ULVR.L), Polymetal International (POLY.L), Moneysupermarkets.com (MONY.L), Go-Ahead Group (GOG.L) and Man Group (EMG.L). London is expected to continue its decline of recent days, with the FTSE100 seen down 15 to 20 points in opening trade.

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