DAILY

16th September 2013

PSI20: -0.69% DAX30: +1.22% FTSE100: +0.59% S&P500: +0.57% NIKKEI225: +0.12%
Portuguese sovereign yields fell for all maturities, with the 10-year ones dropping 7.8 basis points to 7.3%. This occurred in the day Troika returned to Portugal to carry on the eighth and ninth evaluations of the financial aid program. More >> PSI 20 closed the session falling, mainly due to the bad performance of Jernimo Martins, Galp and BES, which fell 1.54%, 1.67% and 3.05%, respectively. A total of 12 of the companies included in the index fell, with Mota Engil and Zon Optimus yielding a -2.02% and a -1.55% return. More >> European stocks gained, extending a five-year high, as Summers withdrew from consideration as Fed chairman, paving the way for Yellen, who investors say will favor slower stimulus reduction. More>> ECB President Mario Draghi said that the euro zones economy remained fragile, unemployment was still far too high and reiterated that the euro zones central bank would keep rates low. More>> Despite ongoing uncertainty over the future of the Italian government caused by criminal conviction handed to Silvio Berlusconi, the countrys finance minister has dismissed fears of a political crisis. More>>

U.S. stocks rose, sending the S&P 500 to a 5-week high and within 1% of a record, as the tensions over dealing with Syrias chemical weapons eased. More>> U.S. Treasury debt prices rose after Summers pulled out of the race for chairman of the Fed, easing fears of more aggressive monetary policy tightening if he were to head the U.S. central bank. More>> U.S. industrial production rose in August, a hopeful sign for the economy after growth got off to a slow start in the third quarter. Industrial output increased 0.4% last month after being flat in July. More>>

Mongolia plans to sell as much as $1 billion worth of Samurai bonds this year and offer foreign investors a new way into its largest coal project as Prime Minister seeks to revive growth. More>> North and South Korea reopened their jointly run industrial complex today, reviving a lone symbol of economic cooperation five months after it was shuttered. More>> Foreign banks are pushing to raise billions of dollars from expatriate Indians in response to New Delhi's drive to defend its weak currency. More>>

OIL (WTI 105.36 $/bl; -1.19% / Brent 109.84 $/bl; -0.70%): Oil futures fell on Monday after the U.S. and Russia over the weekend struck a deal to remove chemical weapons from Syria. More>> NATURAL GAS (3.752 $/MMBtu; +1.61%): Natural gas prices shot up after Tropical Storm Ingrid roar ashore in Mexico and threatened to disrupt production in the southwestern Gulf of Mexico. More >> SUGAR (16.93 $/lb -0.99%): Sugar fell to a one-week low after India forecast a larger harvest than expected, adding to concerns over ample global supplies. More>>

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