market research jun 23_ jun 27

Jun 23 Jun 24 Jun 25 Jun 26 Jun 27 Wkly Chg

PSI 20 7 021,63 6 916,58 6 982,74 6 969,17 6 853,92 -3,45%

STOXX 50 3 282,58 3 284,81 3 252,31 3 233,19 3 227,85 -2,26%

FTSE 100 6 800,56 6 787,07 6 733,62 6 735,12 6 757,77 -0,99%

DAX 9 920,92 9 938,08 9 867,75 9 804,90 9 815,17 -1,72%

CAC 40 4 515,57 4 518,34 4 460,60 4 439,63 4 436,99 -2,30%

NIKKEI 225 15 369,28 15 376,24 15 266,61 15 308,49 15 095,00 -1,66%

HANG SENG 22 804,81 22 880,64 22 866,70 23 197,83 23 221,52 0,12%


EUR/USD 1,360 1,361 1,363 1,361 1,365 0,37%

EUR/CHF 1,217 1,216 1,217 1,216 1,216 -0,12%

EUR/GBP 0,799 0,801 0,803 0,800 0,801 0,19%

EUR/JPY 138,560 138,680 138,760 138,360 138,450 -0,28%

EUR/YUAN 8,458 8,478 8,496 8,472 8,487 0,27%

AUD/JPY 95,990 95,440 95,750 95,610 95,640 -0,18%

Jun 23 Jun 24 Jun 25 Jun 26 Jun 27

Euribor 1M 0,105% 0,104% 0,103% 0,103% 0,101%

Euribor 3M 0,211% 0,211% 0,208% 0,209% 0,207%

Euribor 6M 0,307% 0,306% 0,306% 0,305% 0,303%

Euribor 12M 0,489% 0,489% 0,487% 0,488% 0,488%

Eonia 0,031% 0,036% 0,043% 0,036%


Portugal 6M 0,280% 0,280% 0,280% 0,283% 0,286%

Portugal 5Y 2,286% 2,272% 2,250% 2,251% 2,294%

Portugal 10Y 3,514% 3,460% 3,460% 3,494% 3,584%

Spain 10Y 2,687% 2,648% 2,636% 2,634% 2,636%

France 10Y 1,671% 1,665% 1,600% 1,577% 1,600%

Italy 10Y 2,790% 2,759% 2,734% 2,720% 2,716%

Germany 10Y 1,325% 1,321% 1,266% 1,242% 1,263%

UK 10Y 2,742% 2,737% 2,652% 2,637% 2,644%

REFERENCE RATES

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Financial Markets | [email protected]|www.facebook.com/FEPFinanceClub

INDEXES PERFORMANCE

.

FEP Finance Club; investing.com

FEP Finance Club; Investing.com

FEP Finance Club; Banco de Portugal; BPI


MARKET RESEARCH

June 23th – June 27th

CURRENCIES

BOND YIELDS

Losses on stocks dragged PSI-20 down

This week PSI-20 was quite volatile ending in red

territory. Hot this week was the resign of Ricardo

Salgado, BES’s CEO, making the shares dropped to

October 2013 levels due to this instability surrounding

the management team of the Bank. Moreover, BCP

announced a greater capital hike than was expected,

which was well accepted by the market. Additionally,

the Government will no longer have any stake in CTT.

On the economic front, between January and May, the

tax revenues rose by 3.4% over the same period last

year, reaching €14,624 million, 477 million more than

in 2013. Finally, regarding the business confidence,

Portugal release better-than-expected data, according

to the INE.

European Markets finished slightly up

This week was not particular good to European

stocks. Motivating the losses was the drop in France's

CAC index, with traders citing fears that violence in

Iraq will escalate further as a cue for investors to cash

in on last month's equity rally. The scenario would be

aggravated with the drop in the German business

confidence to the lowest level this year, and the faster

than expected rise in the German CPI. Despite the bad

news, Germany is still due to outperform its euro-

zone peers on the back of its domestic economy: the

“core” economies of Europe are registering growth at

its highest level since before the recession. Finally,

Mota-Engil Africa is going to be listed in the LSE in July

16, with a price ranging between 11.5€ and 14.50€. Japan's unemployment fell to 17-year low

Asian stocks ended the week falling, with the regional

benchmark index paring its seventh straight weekly

gain, as a Federal Reserve official said the U.S. may

raise interest rates by March. Asian currencies also

advanced as economic data from China to South

Korea sparked optimism regional growth is picking up.

Japan's seasonally adjusted jobless rate edged down to

3.5% in May, from 3.6% in the previous three months.

It is the lowest level since December of 1997.

Moreover, the nationwide annual inflation rate

accelerated to 3.7% in May from 3.4% in April, as the

effects of a sales tax increase continues to push

consumer prices up. Singapore's May manufacturing

output contracted at its worst annual pace in 11

months, underscoring recent weakness in exports that

pointed to feeble external demand.

FEP Finance Club; Google Finance

SPOTLIGHT

Portugal Business Confidence (MoM)


S&P 500 1 884,66 1 867,72 1 959,53 1 957,22 1 960,96 -0,10%

DJIA 16 937,26 16 818,13 16 867,51 16 846,13 16 851,84 -0,56%

NQ 100 3 805,31 3 799,53 3 827,33 3 826,91 3 844,44 1,10%

S&P Lac 40 3 828,43 3 814,87 3 805,36 3 806,58 3 801,05 -0,69%


USD/JPY 101,880 101,920 101,820 101,650 101,420 -0,65%

USD/YUAN 6,226 6,231 6,234 6,224 6,218 -0,12%

AUD/USD 0,942 0,936 0,940 0,941 0,942 0,35%

GBP/USD 1,702 1,698 1,698 1,702 1,704 0,13%

USD/CHF 0,895 0,894 0,893 0,894 0,891 -0,47%

USD/CAD 1,073 1,074 1,072 1,069 1,066 -0,88%

-2,69%

-1,32%

-1,02%

-2,54% Corn 2,12% Sugar

0,26%

0,66%

1,44%

Crude Oil WTI

Natural Gas

Crude Oil Brent Copper

Silver

Gold


US 3M 0,010% 0,030% 0,028% 0,030% 0,028%

US 1Y 0,084% 0,084% 0,104% 0,099% 0,104%

US 10 Y 2,626% 2,577% 2,561% 2,532% 2,536%

US 30 Y 3,453% 3,397% 3,383% 3,357% 3,368%

Beatriz Fougo

US TREASURY YIELDS

US home sales shot up

Over the preceding week S&P slid -0.10%. Having said

that, existing and New-home sales soared in May,

climbing to their strongest pace since fall — as more

homes on the market helped draw buyers. Also,

industry data published on Tuesday indicated that U.S.

consumer confidence improved more than expected in

June to hit the highest level since January 2008,

underlining optimism over the U.S. economic outlook.

Besides, the U.S. economy contracted at a much

steeper pace than previously estimated in the first

quarter. While Wednesday’s official data signaled

dampening optimism over the strength of the

economy, as U.S. durable goods orders alone with

core orders fell unexpectedly in May. Finally, US initial

jobless claims fell 0.6% to 312,000 for the week ending

June 21, according to a Labor Department report. Mexican unemployment rate rose

Mexico's unemployment rate unexpectedly increased

in May, according to figures from statistical office

INEGI. Also, production in Mexico has been unable to

recover from its 2013 contraction and could

experience further setbacks as a result of the return of

AI. On the other hand, domestic issues saw

production in Argentina fall 4%, YOY, in Q1 2014.

Lastly, Brazil's main consumer confidence indicator

increased in June, ending two-consecutive months of

drops, as certain signs of inflation slowdown, despite

country's tepid economic activity. Natural gas extended losses

Oil futures ended the week lower as disappointing

U.S. spending data sparked concerns over the outlook

for demand from the world's top consumer of oil.

Investors also continued to unwind positions that had

priced in the possibility of major supply disruptions

stemming from the bloody Iraqi insurgency. Besides,

natural gas futures decreased after official data

revealed U.S. inventories rose more than markets

were expecting. On the metals front, gold futures cap

a fourth straight weekly gain, as investors bet that the

Fed will keep interest rates at record-low levels for a

considerable time, while silver and copper future also

end the week higher. In what concerns softs, corn

futures fell from the previous week, amid ongoing

optimism over the health of the U.S. corn crop.

FEP Finance Club; investing.com

COMMODITIES

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SPOTLIGHT

CURRENCIES

INDEXES PERFORMANCE

U.S. Home Sales (MoM)



Financial Markets | [email protected]|www.facebook.com/FEPFinanceClub

Pedro Santos Catarina Borges


Pratik Ashok Ana Reis João Fernandes

FEP Finance Club; Google Finance

-1.0%

-0.5%

0.0%

0.5%

1.0%

market research jun 23_ jun 27

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