COMMENTARY  - Expect a quiet, but slightly supported session on local trade today, with U.S. markets closed overnight and European equities firmer. The RBA will release its latest minutes today, while data sees Japanese Activity data. Tonight sees Canadian Wholesale and Retail Sales. 

European Equities

European stocks rose overnight, with early gains seen in line with buying ahead of the European Finance Ministers meeting on the Greek bail-out. Players also noted support in line with the news that China had cut bank Reserve requirements. TNT was a strong gainer on the day, up 55% after rejecting a take-over offer from UPS. BP was also supported by an analyst’s report from Oppenheimer that the company may reach a settlement on the Mexican oil spill this week. Oil companies in general were also supported by oil prices hitting as nine month high. BHP and Rio Tinto both rose more than 2.5%.

U.S. equities

U.S. markets were closed overnight for the President’s Day holiday.

Commodities

Commodity prices were supported by news that China had cut bank reserve requirements. This supported Gold, Oil and base metal prices. 

Currencies

The USD was pressured by the cut in Chinese reserve requirements, with the Euro catching a decent bid on the news. The Aussie is opening in Asia today at around the 1.0775.

Information in this report is sourced from Bloomberg, CNN, Reuters and CBS.    

Jeffrey Triganza

Hamilton Rhodes is a corporate authorised representative #403006 and
Jeffrey Triganza is an authorised representative #404572 of Global Prime Pty Ltd ABN 74146086017 AFSL 385620

Jeffrey Triganza is a Director of Hamilton Rhodes, with a particular focus on trading and research in the equity and derivative markets. He can be seen regularly on Bloomberg news and is commonly quoted in the Australian and Asian financial press.

Jeff has 20 years experience as a financial market professional including 8 years as a fixed income and derivatives analyst with Thomson Reuters. Jeff is well versed in all physical and derivatives markets and is a qualified technical analyst.

To contact Jeffrey:
Call +61 410 483 802
Email jtriganza@hamiltonrhodes.com.au

COMMENTARY  - Expect local stocks to trade firmer today amid expectations that the Greek debt crisis will have some positive news tonight. The data calendar is light today, with little more than Japanese Trade numbers to be released globally today. 

European Equities

European stocks opened firmer on Friday and traded with a strong bid after Germany seemed to clear the way for a deal the Greek debt deal as soon as Monday. Euro-zone Finance Ministers are meeting Monday to agree on the accord. This saw Greek banks strong, with Alpha back up as much as 16%, while the knock-on effect saw Societe Generale, Banco Santander and RBS all strongly firmer. Anglo American also rose nearly 2% after a strong earnings result, which supported the mining sector, while a strong profit report saw Lafarge, the world’s largest cement maker roar 8.3%. Persimmon Plc and Berkeley both rose after JPMorgan increased its ratings on the two stocks.

U.S. equities

U.S. stocks rose out of the chute overnight, supported by firmer European stocks and on hopes that the Greek debt deal is close. The market spent the rest of the day consolidating, as pre-weekend position adjustment dominated trade. On the data front, U.S. CPI printed slightly weaker than expected, at +0.2% from talk of +0.3%. The Leading Indicators were slightly weaker than expected, but were largely shrugged off. Better than expected earnings result s from Heinz and Campbell Soups saw both stocks up about 2%, while Nordstrom shares fell on a soft report. Baidu, China’s top search engine beat the street on earnings, but its shares fell back on a soft forward earnings outlook.

Commodities

Commodities were mixed overnight, with Gold futures slightly weaker on a reduction of safe haven concerns, while oil prices rose slightly.

Currencies

A mixed night on currencies, with safe haven trades being unwound. The Big Dollar was slightly weaker against the majors, while the Aussie is opening today at around the 1.0720.

Information in this report is sourced from Bloomberg, CNN, Reuters and CBS.    

Jeffrey Triganza

Hamilton Rhodes is a corporate authorised representative #403006 and
Jeffrey Triganza is an authorised representative #404572 of Global Prime Pty Ltd ABN 74146086017 AFSL 385620

Jeffrey Triganza is a Director of Hamilton Rhodes, with a particular focus on trading and research in the equity and derivative markets. He can be seen regularly on Bloomberg news and is commonly quoted in the Australian and Asian financial press.

Jeff has 20 years experience as a financial market professional including 8 years as a fixed income and derivatives analyst with Thomson Reuters. Jeff is well versed in all physical and derivatives markets and is a qualified technical analyst.

To contact Jeffrey:
Call +61 410 483 802
Email jtriganza@hamiltonrhodes.com.au

COMMENTARY  - Expect tightly mixed trade on local stocks today, amid the lack of clear incentives from offshore trade overnight. Data today sees Australian Inflation Expectations and Unemployment, while tonight sees U.S.  Building Permits, Housing Starts, P.P.I. and Initial Employment Claims. 

European Equities

European stocks opened firmer overnight, supported by a speech by the Chinese Central Bank Governor in which he noted that China will continue to hold Euro-zone denominate debt. The big statement however was that Chine would “participate in resolving with Euro debt crisis.” This news helped to support the market, as did news that Euro-zone GDP, despite contracting, was better than expected, largely on strength in the German and French economies. Clariant AG rose nearly 6% after a strong earnings result, while BNP Paribas rose more than 4% and Societe Generale rose more than 2% on the Chinese news. Heineken, Danone and TUI all also rose strongly on firm earnings results. U.K. shares lagged on the day after local Unemployment data printed worse than expected.

U.S. equities

U.S. stocks opened spent most of the day consolidating overnight, amid the lack of clear direction from European trade, before turning down to end slightly weaker on the day after a Wednesday Euro-zone Finance Ministers meeting was postponed, casting further concerns over the ongoing Greek debt issue. The Empire State Manufacturing Survey was stronger than expected, but provided little support. Better than expected earnings results saw Comcast, Abercrombie & Fitch and Devon foods all rise.

Commodities

Oil prices rose to their highest levels since April 2011 on talk that Iran may halt its sales to Europe. Gold and Silver futures were also firmer on the day.

Currencies

The USD caught a strong bid against the Euro overnight on the Greek issues. The Big Dollar was firmer against all of the majors. The Aussie is opening in Asia at around the 1.0700 area.

Information in this report is sourced from Bloomberg, CNN, Reuters and CBS.    

Jeffrey Triganza

Hamilton Rhodes is a corporate authorised representative #403006 and
Jeffrey Triganza is an authorised representative #404572 of Global Prime Pty Ltd ABN 74146086017 AFSL 385620

Jeffrey Triganza is a Director of Hamilton Rhodes, with a particular focus on trading and research in the equity and derivative markets. He can be seen regularly on Bloomberg news and is commonly quoted in the Australian and Asian financial press.

Jeff has 20 years experience as a financial market professional including 8 years as a fixed income and derivatives analyst with Thomson Reuters. Jeff is well versed in all physical and derivatives markets and is a qualified technical analyst.

To contact Jeffrey:
Call +61 410 483 802
Email jtriganza@hamiltonrhodes.com.au

COMMENTARY  - Expect some early pressure on local stocks today amid the overnight weakness in global markets, although the downside is expected to remain short lived. Local session data today sees Australian Westpac Consumer Sentiment and New Motor Vehicle Sales, while tonight sees the U.S. Empire State Manufacturing Index. 

European Equities

European stocks opened on the offer overnight, pressured by profit-taking after Mondays’ rally, before catching a further offer in line with the news that Moody’s has downgraded the Sovereign ratings of six nations, including Italy and Spain and adding that it may strip the U.K. and France of their top ratings. ThyssenKrupp fell about 4% on a soft earnings result, while Nokia rose strongly following comments from Siemens that it doesn’t rule out an I.P.O. Both German Investor Confidence and the German ZEW Index were firmer than expected, which helped temper the downside, as did a smooth Italian short-term note auction. L’Oreal rose nearly 4% after reaffirming its profit targets.

U.S. equities

U.S. stocks opened on the offer overnight, pressured by the weaker European stocks and the Moody’s news. The market then stabilised, before catching a renewed offer on the weaker than expected U.S. Retail Sales. A read of the report shows that a slowing in the auto sector was largely to blame for the weaker numbers. Banking stocks gave back their Monday session gains, while mixed earnings reports saw Goodyear and Masco weaker, while Hospira, Watson and Zipcar rose. A survey of bund managers by Bank of America saw that the industry went overnight long equities in January. After the bell, Zygna posted a weaker than expected earnings result.

Commodities

Commodities were mixed amid the lack of fresh incentives overnight, with oil prices slightly firmer, while Gold futures were off a touch on the day.

Currencies

The Big Dollar was mixed overnight, weaker against most of the majors, but firmer against the Yen. The Aussie is opening in Asia today at around the 1.0660 area.

Information in this report is sourced from Bloomberg, CNN, Reuters and CBS.    

Jeffrey Triganza

Hamilton Rhodes is a corporate authorised representative #403006 and
Jeffrey Triganza is an authorised representative #404572 of Global Prime Pty Ltd ABN 74146086017 AFSL 385620

Jeffrey Triganza is a Director of Hamilton Rhodes, with a particular focus on trading and research in the equity and derivative markets. He can be seen regularly on Bloomberg news and is commonly quoted in the Australian and Asian financial press.

Jeff has 20 years experience as a financial market professional including 8 years as a fixed income and derivatives analyst with Thomson Reuters. Jeff is well versed in all physical and derivatives markets and is a qualified technical analyst.

To contact Jeffrey:
Call +61 410 483 802
Email jtriganza@hamiltonrhodes.com.au

COMMENTARY - Expect a moderate bounce on local stocks today amid the good news out of Greece and on the firmer offshore markets. Data today sees Australian Business Confidence, along with Japanese Industrial Production. Tonight sees U.S. Retail Sales and Import Prices.

European Equities
European stocks opened firmer out of the chute overnight, posting their best day’s gain in more than a week, after Greek lawmakers approved the much awaited austerity package. Cable and Wireless also surged about 45% after Vodafone announced it was considering an offer for the company. Banking shares led the way firmer amid the Greek news, while mining shares were supported by a strong bounce on copper prices. BHP and Rio Tinto led the way firmer. Areva rose about 5% after announcing a contract to supply 20,000 metric tonnes of Uranium to France. French banks did underperform today after the Government removed a short-selling ban on the sector.

U.S. equities
US stocks opened firmer overnight, in line with the better European stocks amid news that Greece has approved its austerity plan. Banks led the way firmer, with most of the majors up about 1% on the day. The upside was tempered around lunch time however, with player focus moving to the swag of economic data due this week, including Retail Sales, Construction and Inflation numbers. In the stock specifics, Apple shares rose to an all time high above $500, while E.U. officials approved the $12.5bln acquisition by Google of Motorola. Malkin Holdings also filed an I.P.O. listing overnight for a R.E.I.T, presumably for the Empire State Building.

Commodities
Oil futures were firmer overnight, while Gold was largely unchanged Copper prices did have a strong bounce however, which prompted a decent lift to mining shares.

Currencies
Good news out of Greece weighed on the Big Dollar overnight, which came back as traders unwound safe haven trade. The AUD is opening in Asia today at around the 1.0740 area.

Information in this report is sourced from Bloomberg, CNN, Reuters and CBS.    

Jeffrey Triganza

Hamilton Rhodes is a corporate authorised representative #403006 and
Jeffrey Triganza is an authorised representative #404572 of Global Prime Pty Ltd ABN 74146086017 AFSL 385620

Jeffrey Triganza is a Director of Hamilton Rhodes, with a particular focus on trading and research in the equity and derivative markets. He can be seen regularly on Bloomberg news and is commonly quoted in the Australian and Asian financial press.

Jeff has 20 years experience as a financial market professional including 8 years as a fixed income and derivatives analyst with Thomson Reuters. Jeff is well versed in all physical and derivatives markets and is a qualified technical analyst.

To contact Jeffrey:
Call +61 410 483 802
Email jtriganza@hamiltonrhodes.com.au

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COMMENTARY  - We are expecting a quiet to slightly weaker session on local equities today, amid the slightly softer cues from offshore markets overnight. Data today sees Australian Home Loans and Japanese GDP. Tonight sees German WPI, while China is scheduled to release Foreign Direct Investment data today or tomorrow. 

European Equities

European stocks opened on the offer overnight, pressured by news that George Karatzaferis, leader of the Laos Party noted publicly that they would not support the Greek Bail-out measures. This news weighed on European stocks across the entire session, seeing stocks finish weaker on the day. Greek financial stocks led the way weaker, with the National Bank of Greece off nearly 10%. News that Euro-zone Finance Ministers refused to agree to the bailout fund after a lack of assurances from Greek officials also weighed on shares. Saab shares fell nearly 8% on a soft earnings report, while Alcatel-Lucent rose about 12% after upgrading its earnings results.

U.S. equities

US stocks opened on the offer on Friday, weighed down by weaker European stocks and the continued concerns about a deal for Greece regarding its debt situation. While stocks largely ranged slightly weaker on the day, the market finished in the red and saw all three major indexes end softer on the week. This soft week has not had a major effect on the year to date however, with the DJIA still up nearly 5% so far this year. Weaker Imports and Output numbers out of China weighed on Alcoa, which fell about 4%, while Alcatel-Lucent rose about 13% on a strong earnings result. Strong earnings also saw LinkedIn rise 18%. Euronext, parent of the NYSE beat earnings expectations and rose about 4.5%. U.S. Trade data was better than expected, at a deficit of $27.4bln.

Commodities

Commodities were pressured slightly by the weaker Chinese data, with Oil and Gold futures both weaker.

Currencies

The Big Dollar was again firmer against the majors on ongoing Greek concern related safe haven flows. The Aussie is opening in Asia today at around the 1.0675 area, coming back slightly on USD strength.

Information in this report is sourced from Bloomberg, CNN, Reuters and CBS.    

Jeffrey Triganza

Hamilton Rhodes is a corporate authorised representative #403006 and
Jeffrey Triganza is an authorised representative #404572 of Global Prime Pty Ltd ABN 74146086017 AFSL 385620

Jeffrey Triganza is a Director of Hamilton Rhodes, with a particular focus on trading and research in the equity and derivative markets. He can be seen regularly on Bloomberg news and is commonly quoted in the Australian and Asian financial press.

Jeff has 20 years experience as a financial market professional including 8 years as a fixed income and derivatives analyst with Thomson Reuters. Jeff is well versed in all physical and derivatives markets and is a qualified technical analyst.

To contact Jeffrey:
Call +61 410 483 802
Email jtriganza@hamiltonrhodes.com.au

COMMENTARY  - With little major offshore direction overnight, expected a standard quiet Friday to close out the week on local trade today. Data today sees Japanese CGPI, Chinese Trade and the Australian RBA Statement. Tonight’s numbers sees U.S. Sentiment numbers and Trade data. 

European Equities

European stock rose overnight, snapping a four session losing streak, with the main big coming in line with news that Greek officials had reached an agreement on austerity measures. Afternoon dealings saw another light bid emerge after the E.C.B. left interest rates unchanged.  Daimler AG rose to a six month high on a strong earnings result, while a strong profit report also supported Hugo Boss. Arkema rose nearly 4.5% after Morgan Stanley placed the chemical maker on their “buy” list. KBC Groep rose more than 8% after announcing it would return government capital that was lent to the lender. Credit Suisse fell after the stock reported a surprise loss.

U.S. equities

US stocks opened to early consolidation overnight, before catching a light bid on the reports of the Greek austerity package. Yahoo shares rose about 2% on fresh reports that Alibaba is interested in taking it private, while Apple shares rose about 4% after news leaked that the iPad4 would be unveiled next month. Diamond Foods shares fell nearly 40% after the company announced it would be restating the last two years worth of financial records. PepsiCo beat expectations on its earnings results, but shares still feel after the company announced a round of layoffs. GroupOn shares fell and Cisco shares rose after earnings results. Data on the day saw Initial Unemployment Claims fall more than expected, which provided a late bounce to U.S. Shares.

Commodities

Commodity prices rallied slightly overnight, with both Gold and Oil firmer on the day.

Currencies

The Big Dollar was weaker against most of the majors, overnight, but rose against the Yen. The Aussie is opening in Asia today at around the 1.0800 area.

Information in this report is sourced from Bloomberg, CNN, Reuters and CBS.    

Jeffrey Triganza

Hamilton Rhodes is a corporate authorised representative #403006 and
Jeffrey Triganza is an authorised representative #404572 of Global Prime Pty Ltd ABN 74146086017 AFSL 385620

Jeffrey Triganza is a Director of Hamilton Rhodes, with a particular focus on trading and research in the equity and derivative markets. He can be seen regularly on Bloomberg news and is commonly quoted in the Australian and Asian financial press.

Jeff has 20 years experience as a financial market professional including 8 years as a fixed income and derivatives analyst with Thomson Reuters. Jeff is well versed in all physical and derivatives markets and is a qualified technical analyst.

To contact Jeffrey:
Call +61 410 483 802
Email jtriganza@hamiltonrhodes.com.au

COMMENTARY  - Expect a quiet session on local trade today, with little in the way of offshore impetus overnight. Local data today sees Japanese Machinery Orders and Chinese C.P.I. and P.P.I. Tonight sees U.S. Initial Claims and Wholesale Inventories. 

European Equities

European stocks were slightly weaker overnight, but finished close to flat, with individual stock news driving trade. BHP fell nearly 3% overnight on a drop in first half earnings, while Vestas Wind Systems dropped 14% after announcing an annual loss four times worse than expected. On the upside, Banco Commercial rose on expectations of changes in upper management, while Statoil rose on a strong earnings result. Reckitt Benckiser rose about 3% on an upgrade for Q4 earnings, while Mobistar fell 9% on a soft earnings result. News in Greece overnight is that the Government has pledged minimum wage cuts and PM Papandreou met with the E.C. E.C.B. and I.M.F. overnight.

U.S. equities

With no major cues from local data or from European stocks, U.S. equities drifted for most of the session overnight. The upside is being capped by the ongoing stalling of the Greek debt deal, while the market is now at levels where bargain hunters are picking up the dips. On stock specific news, Sprint Nextel fell more than 2% on a soft earnings result, while Time Warner rose only slightly despite both beating expectations and raising its dividend by 11%. CVS Caremark rose about 1.5% after beating expectations, while a massive set of earnings numbers from Buffalo Wild Wings saw its stock up about 18%. Polo Ralph Lauren also had a great session, up 10% on a strong earnings result. Earnings numbers from Groupon, Cisco, News Corp and Visa are expected after the close.

Commodities

Oil futures were slightly firmer overnight, while Gold prices came back a bit.

Currencies

In the ebb and flow of international currency markets overnight, the Big Dollar was slightly firmer, while the Aussie is opening in Asia today at around the 1.0790.

Information in this report is sourced from Bloomberg, CNN, Reuters and CBS.    

Jeffrey Triganza

Hamilton Rhodes is a corporate authorised representative #403006 and
Jeffrey Triganza is an authorised representative #404572 of Global Prime Pty Ltd ABN 74146086017 AFSL 385620

Jeffrey Triganza is a Director of Hamilton Rhodes, with a particular focus on trading and research in the equity and derivative markets. He can be seen regularly on Bloomberg news and is commonly quoted in the Australian and Asian financial press.

Jeff has 20 years experience as a financial market professional including 8 years as a fixed income and derivatives analyst with Thomson Reuters. Jeff is well versed in all physical and derivatives markets and is a qualified technical analyst.

To contact Jeffrey:
Call +61 410 483 802
Email jtriganza@hamiltonrhodes.com.au

COMMENTARY  - We are expecting a very quiet day of trade today after the no change on interest rates from the RBA yesterday and amid a lack of major offshore incentives. Data today sees Japanese Bank Lending and Current Account numbers, while tonight sees U.S. Crude Oil Inventories. 

European Equities

European stocks were weaker again overnight, pressured by the continued stalling on Greek debt reconstruction talks. Players also noted sales in line with comments from Chinese officials that local Industrial Production is likely slowing. The Chinese news weighed on car manufacturers and miners, with BMW and Rio Tinto bearing the brunt of the sales. LVMH fell about 3% on reports of insider sales, while Swatch Group was also weaker on a soft earnings result. Reports of new share issues to raise capital helped Portuguese banks Banco Comercial and Banco Espitiro Santo. Novo Nordisk rose to its highest level since 1991 after positive comments from Goldman Sachs.

U.S. equities

U.S. stocks opened on the offer overnight, amid the weaker European stocks, but the downside soon stalled and the market found a decent base. The market then came back strongly on short-covering, before spending the afternoon meandering amid a lack of impetus. Sears shares remained firm on continued rumours of a Private Equity buy out of the firm, while UBS weighed on the banking sector after posting a 75% drop in quarterly profits. Coca Cola shares rose after stronger than expected earnings results, while B.P. stock fell, despite better earnings results, with concerns still circulating about the clean-up costs of the recent oil spill. After the closing bell, earnings results are expected from Walt Disney.

Commodities

Commodities were supported by better late U.S. stocks overnight, with both Oil and Gold futures rallying.

Currencies

The Big Dollar was weaker against most of the majors overnight, but did rise slightly against the Yen. The Aussie is holding early Asian trade at around the 1.0800 area.

Information in this report is sourced from Bloomberg, CNN, Reuters and CBS.    

Jeffrey Triganza

Hamilton Rhodes is a corporate authorised representative #403006 and
Jeffrey Triganza is an authorised representative #404572 of Global Prime Pty Ltd ABN 74146086017 AFSL 385620

Jeffrey Triganza is a Director of Hamilton Rhodes, with a particular focus on trading and research in the equity and derivative markets. He can be seen regularly on Bloomberg news and is commonly quoted in the Australian and Asian financial press.

Jeff has 20 years experience as a financial market professional including 8 years as a fixed income and derivatives analyst with Thomson Reuters. Jeff is well versed in all physical and derivatives markets and is a qualified technical analyst.

To contact Jeffrey:
Call +61 410 483 802
Email jtriganza@hamiltonrhodes.com.au