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DAILY RUNG
13/05/2019

A daily feed of market essentials

13.05.2019

Daily Rung

US:  Stocks staged an impressive reversal on Friday after President Donald Trump said conversations with China over trade will continue and his relationship with President Xi Jinping remains strong.

The Dow Jones Industrial Average finished the day 114 points higher at 25,942, coming back from a 358-point loss earlier in the session that came in the wake of a tariff increase by the U.S. effective just after midnight. The S&P 500 snapped a four-day losing streak, eking out a 0.37% gain at 2,881.

Ride-hailing giant Uber began trading on the New York Stock Exchange Friday at $42 per share, after pricing at $45 per share. The stock finished the day nearly 8% lower.

EUROPE: European stocks closed higher on Friday despite the U.S. hiking duties on $200 billion worth of Chinese products.

The pan-European STOXX 600 climbed provisionally 0.4% higher, with the export-heavy German DAX index rising by 0.85%. All but three sectors closed in positive territory, with only the autos sector, with its heavy exposure to China, edging lower.

The U.K. posted its first-quarter GDP data on Friday, showing a quarter-on-quarter economic expansion of 0.5%, the country’s highest level of growth since 2017. Sterling was little changed, however, as uncertainty around Brexit continued to weigh and reports that bi-partisan talks between Britain’s leading political parties were on the verge of collapse.

LOCAL: The local share market finished a day of choppy trade firmly higher as increased US tariffs on China came into effect on Friday.

At the close of trade, the ASX benchmark S&P/ASX200 had risen 16 points, or 0.25% to 6311 points, rounding out a 0.4% loss for the week.

Adelaide Brighton lost 3.7% to $3.62, extending a 10.3% loss on Thursday, after the cement maker said annual profit would fall by 15% on softer demand for construction materials in the residential sector.

TPG Telecom bounced 5% to $6.35 after saying it would seek a court ruling on the ACCC’s objection to its merger with Vodafone.

Daily Chart

Source: Bloomberg, Escala Partners
Enlarge

Since the start of the year, both the US and Australian yield curves have shifted lower as central banks adopt a more dovish outlook. The downward shift has been more significant in Australia, with an approximate 50bp move across the curve.

Daily Data

Daily Weekly Monthly Quarterly Yearly
Equities Close +/- % % % % %
S&P/ASX 200  6,310.9  +15.5  +0.25%  -0.39%  +1.40%  +3.94%  +3.14% 
S&P/ASX 200 SPI  6,325.0  +29.0  +0.46%  +0.09%  +2.26%  +5.72%  +5.93% 
S&P/ASX 200 Accumulation  66,497.5  +164.9  +0.25%  -0.39%  +1.43%  +5.33%  +7.71% 
Dow Jones  25,942.4  +114.0  +0.44%  -2.12%  -0.82%  +3.33%  +4.86% 
S&P 500  2,881.4  +10.7  +0.37%  -2.18%  -0.24%  +6.41%  +5.81% 
Nasdaq  7,916.9  +6.4  +0.08%  -3.03%  -0.59%  +8.48%  +6.91% 
STOXX 600  377.1  +1.2  +0.32%  -3.39%  -2.47%  +5.33%  -3.78% 
FTSE 100  7,203.3  -4.1  -0.06%  -2.40%  -2.95%  +1.87%  -6.46% 
DAX  12,059.8  +85.9  +0.72%  -2.84%  +1.29%  +10.57%  -7.39% 
CAC 40  5,327.4  +14.3  +0.27%  -3.99%  -2.25%  +7.37%  -3.94% 
Nikkei 225  21,344.9  -57.2  -0.27%  -4.11%  -1.58%  +4.98%  -5.12% 
TOPIX  1,549.4  -1.3  -0.08%  -4.23%  -3.62%  +0.65%  -12.84% 
Hang Seng  28,550.2  +239.2  +0.84%  -5.09%  -5.21%  +2.16%  -7.33% 
Shanghai CSI 300  3,730.5  +130.8  +3.63%  -4.67%  -8.70%  +14.87%  -4.18% 
NZ 50  10,099.4  -5.0  -0.05%  +0.41%  +4.03%  +10.06%  +16.92% 
S&P 500 Sectors Close +/- % % % % %
Consumer Discretionary  930.2  +0.4  +0.04%  -2.52%  +0.02%  +10.28%  +11.68% 
Consumer Staples  588.2  +6.8  +1.17%  -0.37%  +1.86%  +6.45%  +15.82% 
Energy  471.7  +0.4  +0.08%  -0.60%  -5.39%  +1.69%  -16.65% 
Financials  455.0  +2.4  +0.52%  -2.25%  +3.50%  +6.93%  -2.90% 
Health Care  1,027.1  -0.7  -0.07%  -1.53%  -3.32%  -1.28%  +8.54% 
Industrials  641.7  +2.4  +0.38%  -2.81%  +0.72%  +4.49%  +2.44% 
Information Technology  1,334.2  +2.4  +0.18%  -3.56%  -0.43%  +12.04%  +8.52% 
Materials  344.7  +4.3  +1.27%  -2.83%  -4.04%  +4.37%  -6.51% 
Real Estate  223.4  +2.5  +1.13%  -0.72%  -1.29%  +4.13%  +14.34% 
Telecommunications  164.3  +0.4  +0.21%  -1.86%  +1.06%  +8.30%  +14.40% 
Utilities  293.5  +5.0  +1.73%  -0.71%  +0.45%  +3.95%  +15.30% 
Commodities Close +/- % % % % %
Oil (WTI)  $61.66  -$0.04  -0.06%  -0.45%  -4.62%  +14.14%  -6.03% 
Oil (Brent)  $70.62  +$0.23  +0.33%  -0.32%  -0.95%  +14.03%  -1.74% 
Gold  $1,286.05  +$1.97  +0.15%  +0.54%  -1.68%  -2.15%  -2.69% 
Silver  $14.79  +$0.03  +0.17%  -1.03%  -2.97%  -6.55%  -11.56% 
Iron Ore  $95.08  +$0.84  +0.89%  +1.35%  +2.68%  +3.20%  +43.00% 
Coking Coal  $1,144.00  -$1.05  -0.62%  -6.51%  -10.52%  -14.47%  -12.95% 
Thermal Coal  $86.15  -$0.10  -0.12%  -1.66%  +4.81%  -11.37%  -15.12% 
Copper  $2.78  +$0.01  +0.39%  -1.76%  -5.23%  -1.35%  -11.44% 
Aluminium  $0.82  +$0.00  +0.50%  +0.14%  -3.00%  -3.88%  -22.57% 
Nickel  $5.41  +$0.06  +1.21%  -4.14%  -9.83%  -5.16%  -14.11% 
Lead  $0.83  -$0.01  -0.71%  -1.25%  -6.71%  -12.40%  -20.95% 
Tin  $8.90  +$0.17  +1.90%  +4.81%  -5.88%  -6.77%  -5.76% 
Zinc  $1.19  +$0.01  +0.77%  -2.26%  -8.46%  -2.74%  -14.80% 
Interest Rates Close +/- % +/- +/- +/- +/-
RBA Cash Rate  1.50%  +0.000%     +0.00%  +0.00%  +0.00%  +0.00% 
90 Day Bank Bill  1.65%  -0.001%     +0.11%  -0.05%  -0.36%  -0.29% 
180 Day Bank Bill  1.67%  +0.000%     +0.07%  -0.10%  -0.48%  -0.39% 
Australian 3 Year Bond  1.28%  +0.003%     -0.01%  -0.15%  -0.33%  -0.89% 
Australian 10 Year Bond  1.73%  +0.017%     -0.06%  -0.14%  -0.38%  -1.05% 
US 10 Year Bond  2.47%  +0.025%     -0.06%  +0.00%  -0.17%  -0.50% 
US 30 Year Bond  2.89%  +0.026%     -0.03%  -0.01%  -0.09%  -0.22% 
iTraxx  70.34  -2.14     +3.61  -0.28  -6.62  +4.50 
Currencies Close +/- % % % % %
AUD/USD  0.700  +0.001  +0.19%  -0.23%  -2.36%  -1.21%  -7.04% 
AUD/JPY  76.98  +0.26  +0.34%  -1.34%  -3.31%  -1.05%  -6.59% 
AUD/EUR  0.623  +0.000  +0.02%  -0.57%  -2.01%  -0.43%  -1.39% 
AUD/GBP  0.54  +0.00  +0.25%  +1.05%  -1.68%  -1.63%  -3.33% 
AUD/NZD  1.061  +0.001  +0.08%  +0.47%  +0.14%  +0.94%  -1.89% 
EUR/USD  1.12  +0.00  +0.16%  +0.31%  -0.36%  -0.79%  -5.72% 
GBP/USD  1.300  -0.002  -0.12%  -1.33%  -0.71%  +0.42%  -3.85% 
USD/JPY  109.95  +0.21  +0.19%  -1.04%  -0.95%  +0.20%  +0.50% 
USD/CNY  6.823  -0.005  -0.07%  +1.30%  +1.59%  +1.14%  +7.45% 
Other Indicators Close +/- % % % % %
VIX  16.04  -3.06  -16.02%  +24.63%  +20.60%  +2.04%  +21.24% 
Australian DLCs Close +/- % % % % %
BHP Billiton PLC ($A)  $32.36  +$0.09  +0.29%  -3.01%  -8.78%  +4.05%  +8.01% 
Rio Tinto PLC ($A)  $81.92  +$0.56  +0.69%  -0.94%  -5.76%  +5.17%  +8.76% 
CYBG PLC ($A)  $3.53  -$0.05  -1.29%  -8.41%  -4.80%  +0.34%  -37.00% 
Janus Henderson Group PLC ($A)  $31.61  -$0.59  -1.83%  -1.59%  -7.08%  -1.31%  -29.74% 
Resmed Inc ($A)  $16.01  -$0.02  -0.15%  -0.30%  +12.97%  +17.21%  +19.30% 
News Corporation ($A)  $17.18  +$0.50  +2.98%  -3.00%  -3.45%  -3.89%  -22.40% 
Global Equities - Comms Close +/- % % % % %
Alphabet  1,167.64  -0.33  -0.03%  -1.84%  -3.22%  +5.92%  +5.62% 
Deutsche Telekom  14.91  +0.07  +0.46%  -0.03%  -0.08%  +5.47%  +4.22% 
Orange  13.73  -0.15  -1.12%  -1.44%  -6.47%  +3.47%  -9.34% 
Telefonica  7.11  -0.01  -0.17%  -2.55%  -3.88%  -2.74%  -14.78% 
Twenty-First Century Fox  38.53  +0.03  +0.08%  +2.83%  +5.62% 
Vivendi  24.76  -0.12  -0.48%  -3.13%  -5.93%  +11.53%  +7.19% 
Vodafone Group  139.00  +0.50  +0.36%  -0.76%  -0.60%  +0.23%  -33.84% 
Global Equities - Discretionary Close +/- % % % % %
Amazon.com  1,889.98  -9.89  -0.52%  -3.69%  +2.31%  +19.00%  +17.46% 
Bridgestone  4,198.00  -14.00  -0.33%  -4.72%  -4.22%  +3.09%  -6.94% 
Daimler  53.89  -1.76  -3.16%  -7.94%  -2.12%  +12.25%  -19.79% 
Ford Motor Co  10.38  +0.18  +1.76%  -0.29%  +11.25%  +23.72%  -7.40% 
Honda Motor Co  2,832.00  -17.50  -0.61%  -8.67%  -8.97%  -3.23%  -20.23% 
LVMH  333.55  +1.70  +0.51%  -6.06%  +1.15%  +17.63%  +14.09% 
McDonald's  199.99  +2.26  +1.14%  +1.25%  +5.69%  +14.44%  +21.15% 
Nike  83.95  +0.97  +1.17%  -2.04%  -1.10%  +1.93%  +23.60% 
Nissan Motor Co  858.50  +0.10  +0.01%  -3.90%  -7.29%  -6.10%  -22.69% 
Panasonic  915.70  -63.70  -6.50%  -10.31%  -7.53%  -8.66%  -41.38% 
Sony  5,408.00  +78.00  +1.46%  +3.76%  +5.60%  +10.23%  +5.85% 
Toyota  6,537.00  -8.00  -0.12%  -5.33%  -3.80%  +1.36%  -13.90% 
Global Equities - Staples Close +/- % % % % %
Coca-Cola  48.19  +0.79  +1.67%  -1.09%  +3.32%  -2.65%  +14.25% 
Colgate-Palmolive  71.50  +0.65  +0.92%  -0.63%  +4.98%  +8.84%  +14.44% 
Diageo  3,245.50  +5.00  +0.15%  +1.18%  +3.91%  +8.84%  +21.55% 
Kimberly-Clark  127.44  +1.04  +0.82%  -0.05%  +4.75%  +10.16%  +22.74% 
L'Oreal  235.00  -0.80  -0.34%  -2.61%  -3.09%  +7.40%  +16.68% 
Nestle  97.50  +0.57  +0.59%  +0.32%  +0.39%  +13.06%  +25.97% 
PepsiCo  128.01  +1.96  +1.55%  +0.27%  +4.89%  +13.27%  +31.60% 
Philip Morris  84.54  +0.61  +0.73%  -1.35%  -1.37%  +5.70%  +1.86% 
Procter & Gamble  106.01  +1.77  +1.70%  -0.07%  +1.30%  +8.49%  +44.92% 
Seven & I Holdings  3,698.00  +11.00  +0.30%  -4.17%  -5.13%  -22.21%  -22.34% 
Unilever  52.90  -0.16  -0.30%  -1.53%  +2.52%  +9.33%  +10.82% 
Walmart  101.91  +2.37  +2.38%  -0.17%  +2.32%  +6.62%  +23.24% 
Global Equities - Energy Close +/- % % % % %
BP  524.20  -1.30  -0.25%  -4.36%  -9.02%  -3.64%  -7.06% 
Chevron  121.99  +0.80  +0.66%  +4.02%  -2.79%  +3.75%  -5.30% 
Exxon Mobil  76.56  -0.21  -0.27%  -1.17%  -6.13%  +3.49%  -6.31% 
Repsol  14.29  +0.02  +0.11%  -3.22%  -6.60%  -3.87%  -13.27% 
Royal Dutch Shell  2,426.50  +10.00  +0.41%  -1.14%  -2.57%  +0.52%  -7.86% 
Total  46.87  +0.27  +0.57%  -4.68%  -6.95%  -3.22%  -11.08% 
Global Equities - Financials Close +/- % % % % %
Allianz  198.84  +0.02  +0.01%  -7.54%  -3.71%  +8.82%  +3.54% 
Aon  179.10  +2.59  +1.47%  +0.20%  +3.62%  +6.50%  +24.17% 
Aviva  415.10  +2.00  +0.48%  -2.60%  -3.44%  -0.67%  -23.36% 
AXA  22.10  -0.01  -0.05%  -4.20%  -4.64%  +9.90%  -1.21% 
BBVA  5.08  -0.02  -0.31%  -4.84%  -4.08%  +0.40%  -25.89% 
Banco Santander  4.12  -0.03  -0.63%  -6.51%  -5.71%  +4.00%  -24.87% 
Barclays  157.52  +0.66  +0.42%  -3.76%  -2.25%  +1.01%  -26.32% 
Citigroup  67.90  +0.27  +0.40%  -3.92%  +3.63%  +9.50%  -6.44% 
Credit Suisse Group  12.40  +0.01  +0.08%  -6.17%  +1.43%  +6.62%  -26.19% 
Deutsche Bank  6.94  +0.08  +1.20%  -5.50%  -4.14%  -3.56%  -40.18% 
Goldman Sachs  202.05  +0.42  +0.21%  -2.64%  -0.46%  +5.42%  -17.00% 
HSBC Holdings  652.00  +0.10  +0.02%  -4.20%  -0.11%  +1.57%  -10.89% 
ING Groep  10.44  +0.01  +0.12%  -7.12%  -7.17%  -2.68%  -22.14% 
JPMorgan Chase & Co  112.51  -0.01  -0.01%  -3.11%  +6.81%  +11.00%  -1.56% 
Marsh & McLennan Cos  96.12  +2.18  +2.32%  +2.39%  +3.22%  +6.90%  +17.55% 
Mitsubishi UFJ Fin Group  523.50  -2.60  -0.49%  -4.80%  -6.62%  -8.32%  -27.19% 
Morgan Stanley  46.34  -0.11  -0.24%  -3.58%  +4.25%  +13.55%  -15.81% 
Munich Re Group  210.10  +2.60  +1.25%  -1.18%  -2.05%  +6.25%  +9.94% 
Prudential  1,612.00  +1.50  +0.09%  -7.28%  -2.24%  +9.07%  -16.56% 
Societe Generale  26.09  -0.20  -0.74%  -9.09%  -0.65%  +8.62%  -38.68% 
Standard Chartered  679.80  +0.20  +0.03%  -4.31%  +4.94%  +10.00%  -11.09% 
Swiss Re  90.72  +0.50  +0.55%  -4.06%  -8.68%  -5.30%  -4.14% 
UBS Group  12.14  -0.00  -0.04%  -10.50%  -2.57%  -3.96%  -25.13% 
Global Equities - Health Care Close +/- % % % % %
Abbott Laboratories  76.45  +0.03  +0.04%  -2.85%  -3.19%  +4.25%  +26.24% 
AstraZeneca  5,692.00  -134.00  -2.30%  -0.85%  -6.99%  -0.07%  +8.38% 
Bayer  57.54  +0.47  +0.82%  -7.00%  -6.39%  -13.08%  -43.03% 
Bristol-Myers Squibb  47.01  -0.22  -0.47%  -3.31%  +2.44%  -6.39%  -8.09% 
GlaxoSmithKline  1,502.00  -16.20  -1.07%  -3.23%  -4.79%  -4.01%  +1.69% 
Johnson & Johnson  139.05  +0.32  +0.23%  -2.08%  +2.56%  +5.02%  +10.93% 
Koninklijke Philips  37.18  +0.39  +1.07%  -1.55%  +5.36%  +9.81%  +4.66% 
Merck & Co  78.19  -0.14  -0.18%  -2.26%  -3.25%  +0.86%  +34.67% 
Novartis  82.14  +0.45  +0.55%  -1.85%  -0.12%  +4.97%  +19.58% 
Pfizer  40.72  +0.08  +0.20%  -1.62%  -4.70%  -3.58%  +16.21% 
Roche  258.05  -1.95  -0.75%  -4.18%  -6.44%  -3.84%  +14.18% 
Sanofi  72.72  -0.66  -0.90%  -6.31%  -6.72%  -3.37%  +9.97% 
Global Equities - Industrials Close +/- % % % % %
3M  175.86  +0.58  +0.33%  -5.05%  -17.09%  -11.99%  -14.23% 
ABB  19.35  +0.22  +1.12%  -6.59%  -0.67%  +1.74%  -19.13% 
Caterpillar  131.34  +0.14  +0.11%  -5.55%  -4.50%  +2.13%  -14.70% 
Cie de Saint-Gobain  34.02  +0.05  +0.15%  -5.83%  -2.81%  +10.15%  -22.82% 
Emerson Electric  66.93  +0.13  +0.19%  -5.86%  -5.90%  +0.28%  -7.00% 
General Electric  10.13  +0.09  +0.90%  -3.52%  +10.59%  +7.42%  -28.26% 
Johnson Controls International  39.68  +0.09  +0.23%  +0.25%  +10.78%  +16.71%  +8.06% 
Schneider Electric  71.30  +0.02  +0.03%  -4.30%  -2.62%  +14.81%  -6.70% 
Siemens  107.02  +1.74  +1.65%  +1.19%  +5.36%  +16.94%  -7.66% 
United Technologies Corp  137.17  +0.31  +0.23%  -3.15%  +4.19%  +11.98%  +10.53% 
Global Equities - Tech Close +/- % % % % %
Apple  197.18  -3.54  -1.76%  -6.88%  -1.71%  +15.71%  +3.76% 
Canon  3,051.00  +49.00  +1.63%  -1.23%  -5.75%  -2.80%  -19.50% 
HP  19.12  -0.17  -0.88%  -5.77%  -4.26%  -16.58%  -15.96% 
Intel  46.20  -0.42  -0.90%  -10.72%  -17.13%  -5.41%  -15.97% 
IBM  135.32  -0.02  -0.01%  -3.52%  -5.38%  +1.20%  -6.18% 
Microsoft  127.13  +1.63  +1.30%  -1.37%  +5.77%  +20.31%  +29.84% 
Samsung Electronics  42,900.00  +450.00  +1.06%  -5.30%  -8.14%  -4.24%  -16.86% 
Texas Instruments  112.60  +0.45  +0.40%  -4.15%  -2.02%  +7.70%  +2.39% 
Global Equities - Materials Close +/- % % % % %
Anglo American  1,892.80  -5.80  -0.31%  -4.44%  -14.97%  -2.17%  +5.14% 
BASF  65.23  -0.29  -0.44%  -10.48%  -5.23%  +4.27%  -25.35% 
DowDuPont  31.48  +0.49  +1.58%  -9.77%  -18.23%  -9.45%  -30.06% 
Global Equities - Real Estate Close +/- % % % % %
American Tower Corp  195.66  +3.14  +1.63%  +1.40%  -0.49%  +13.47%  +39.87% 
Global Equities - Utilities Close +/- % % % % %
E.ON  9.52  +0.11  +1.14%  +1.51%  -5.50%  +0.76%  +0.49% 
Engie  13.12  +0.13  +0.96%  -1.02%  -3.56%  -4.51%  -10.14% 
National Grid  835.50  +10.50  +1.27%  +0.77%  +0.18%  -0.80%  -1.00% 
RWE  22.15  +0.36  +1.65%  -1.86%  -8.17%  +2.78%  +9.33% 

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