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Trader Talk: An Analysis of the Markets this Morning

Good morning,

Markets are called to open flat this morning before US job data.

    • Non-farm payrolls in the U.S. probably increased by 149,000 workers in February while the unemployment rate held at 6.6 percent, according to the median of economists’ estimates compiled by Bloomberg. Payrolls climbed by a monthly average of 193,500 in 2013. Data yesterday showed claims for unemployment benefits fell to a three-month low last week, stoking speculation U.S. companies are confident economic growth will rebound after harsh winter weather depressed demand.
    • The MSCI All-Country World Index has recovered to a six-year high after falling the most in a month March 3 as Russia seized control of Ukraine’s Crimea region. The gauge rose every other day this week.
    • In Europe, Telecom Italia S.p.A scrapped its dividend for the first time ever as it reported a wider-than-estimated 2013 net loss as sales missed analyst projections.
    • Fraport AG, operator of Germany’s Frankfurt Airport, reported earnings that missed estimates and projected 2014 profit “slightly above” last year.
    • Five companies advanced for every three that fell on MSCI’s Asia-Pacific gauge, which has risen every week since the period ended Feb. 7. All 10 industry groups increased.

    Stock to watch: Bayer – Bayer CropScience to Buy Biagro Group; No Terms

      • Biagro, based in Argentina, produces and distributes biological seed treatments.
      • Biagro has ~140 workers, production facilities in Argentina and Brazil

      To get a copy of our latest report on Bayer log into webtrader or call us on 25688688.

      Stock to watch: Air France-KLM February Traffic Update

      • The Paris-based airline said in an e-mailed statement that the number of passengers transported rose 1.8% to 5.34 million in February.
      • The passenger kilometers transported rose 2.9% to 16.2 million: Air France-KLM
      • The cargo load factor rose 2.7% in the month to 66.2%: Air France-KLM

      European Companies Reporting Results Today:

      • Atlantia (ATL IM) TBD

      • Enel Green Power (EGPW IM) TBD

      • Fraport (FRA GR) 7am

      • Fugro (FUR NA) 7am

      • GEA Group (G1A GR) 7:30am

      Good day and happy trading!

      Kristian Camenzuli

      The Calamatta Cuschieri Traders Blog is available daily on CC WebTrader. Other market coverage including coverage of the International Bond Markets is also available.

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